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−Removed: We are a leading provider of innovative, technology-driven connectivity and navigation solutions to maritime, defense and other commercial customers globally.
−Removed: Through our mobile connectivity business, we provide global high-speed Internet and voice services via satellite to mobile users at sea and on land.
−Removed: We are also a leading provider of commercially licensed entertainment, including news, sports, music, and movies, to commercial and leisure customers in the maritime, hotel, and retail markets.
−Removed: Our inertial navigation business provides high-performance navigational sensors and integrated inertial navigation systems for defense and commercial inertial navigation applications.
−Removed: Our reporting segments are as follows:
−Removed: • the mobile connectivity segment, and
−Removed: • the inertial navigation segment
−Removed: Through these segments, we manufacture and sell our solutions in a number of major geographic areas, including internationally.
−Removed: We generate revenues from various international locations, primarily consisting of Canada, Europe (both inside and outside the European Union), Africa, Asia/Pacific, and the Middle East.
−Removed: We are headquartered in Middletown, Rhode Island, with active operations in Denmark, the State of Illinois, the United Kingdom and Singapore.
+Added: We are a leading provider of innovative and technology-driven connectivity solutions to primarily maritime customers globally.
+Added: We provide global high-speed Internet and Voice over Internet Protocol (VoIP) services via satellite to mobile users at sea and on land.
+Added: We are also a leading provider of commercially licensed entertainment, including news, sports, music, and movies, to commercial customers in the maritime and hotel markets, along with supplemental value-added services.
+Added: We manufacture our products in Middletown, Rhode Island and sell our solutions in a number of major geographic areas, including internationally.
+Added: We generate revenues from various international locations, primarily consisting of Singapore, Canada, European Union countries and other European countries, countries in South America, Africa, Asia/Pacific and the Middle East and India.
+Added: During the second quarter of 2022, KVH Media Group Limited, our wholly owned subsidiary, sold its subsidiary KVH Media Group Entertainment Limited.
+Added: On August 9, 2022, we sold our inertial navigation business, which offered a portfolio of innovative digital compass and fiber optic gyro based systems, to EMCORE Corporation.
+Added: We are headquartered in Middletown, Rhode Island, with active operations in Denmark, the United Kingdom, the Philippines, and Singapore.
KVH is a Delaware corporation formed in 1985.
−Removed: Our Business Segments
−Removed: Segment Primary Products Major Brands 2021 Net Sales (1)
−Removed: Mobile connectivity Satellite television and internet solutions and media and content delivery solutions TracVision®
−Removed: mini-VSAT Broadband SM
−Removed: IP-MobileCast TM
−Removed: KVH OneCare ®
−Removed: Inertial navigation Digital compass and fiber optic gyro-based navigation and guidance systems TACNAV®
−Removed: Total $ 171,767
−Removed: (1) Amounts in thousands
−Removed: Mobile Connectivity Segment
−Removed: Through our mobile connectivity segment, we provide integrated, end-to-end hardware, software and services that support our customers’ need for access to Internet, voice and entertainment services.
−Removed: On the hardware side of this business, we primarily manufacture and distribute a comprehensive family of mobile satellite antenna products and services that provide access to the Internet and voice services outside the range of cellular phone service.
−Removed: Product sales within the mobile connectivity segment accounted for 17% and 18% of our consolidated net sales for 2021 and 2020, respectively.
−Removed: On the services side of this business, sales of mini-VSAT Broadband airtime service accounted for 54% and 51% of our consolidated net sales for 2021 and 2020, respectively.
−Removed: Sales of content services within the mobile connectivity segment accounted for 4% and 5% of our consolidated net sales for 2021 and 2020, respectively.
−Removed: In the global maritime market, we believe that there is significant demand for mobile access to television, the Internet, voice services, entertainment content, and operational services such as navigation chart updates, weather services, and voyage optimization.
−Removed: For both maritime and onshore customers that want to access live television while on the move, we offer a comprehensive family of mobile satellite antenna products marketed under the TracVision brand.
−Removed: For access to the Internet and voice services while on the move, which we refer to collectively as our airtime services, we offer a family of mobile satellite antenna products and communication services marketed under the brands mini-VSAT Broadband and TracPhone, respectively.
−Removed: The network infrastructure that we have developed to support our airtime services also supports the delivery of other value-added services such as our IP-MobileCast content delivery service for both entertainment and operational needs.
−Removed: Our mobile satellite antenna products use sophisticated robotics, stabilization and control software, sensing technologies, transceiver integration, and advanced antenna designs to automatically search for, identify and point directly at the optimal television and communications satellite while the vehicle or vessel is in motion.
−Removed: Our antennas use gyroscopes and inclinometers to measure the movement of an antenna platform in relation to the earth in three different axes.
+Added: We operate as one reportable segment as a result of the sale of our inertial navigation business on August 9, 2022.
+Added: Please see Notes 1 and 16 to our accompanying audited consolidated financial statements for additional information.
+Added: We provide integrated, end-to-end hardware, software, and services that support our customers’ need for access to the Internet, VoIP, operations content, and entertainment services.
+Added: On the hardware side of our business, we primarily manufacture and distribute a comprehensive family of mobile satellite antenna products that provide two-way access to the Internet and VoIP services outside the range of cellular phone service, along with in-motion, stabilized antennas that provide receive-only satellite television services.
+Added: Product sales accounted for 19% and 22% of our consolidated net sales for 2022 and 2021, respectively.
+Added: On the services side of our business, sales of our global high-throughput satellite (HTS) airtime service accounted for 74% and 69% of our consolidated net sales for 2022 and 2021, respectively.
+Added: Sales of content services accounted for 4% and 6% of our consolidated net sales for 2022 and 2021, respectively.
+Added: In the global maritime market, we believe that there is significant demand for mobile access to the Internet, operational data, voice services, entertainment content, and satellite television.
+Added: For both maritime and onshore customers who want to access live television while on the move, we offer a comprehensive family of mobile satellite antenna products marketed under the TracVision brand.
+Added: For mobile access to the Internet and VoIP services, which we refer to collectively as our airtime services, we offer a family of hybrid mobile satellite antenna products and communication services using global VSAT service, 5G/LTE cellular service, and shore-based Wi-Fi, which are marketed under the TracNet hybrid terminal and KVH ONE hybrid network brands, respectively.
+Added: In addition, we actively market and sell a 37 cm VSAT-only TracPhone V30 antenna and support our legacy family of other VSAT-only terminals marketed under the TracPhone brand and using our global HTS network.
+Added: The network infrastructure that we have developed to support our airtime services also supports the delivery of other value-added services, such as our KVH Link content service, with country-specific news, entertainment, music, and other crew welfare content delivered using our IP-MobileCast multicast delivery service.
+Added: Our mobile satellite antenna products use sophisticated robotics, stabilization, and control software, sensing technologies, transceiver integration, and advanced antenna designs to automatically search for, identify, and point directly at the optimal television and communications satellite while the vessel or vehicle is in motion.
+Added: Our antennas use digital inertial measurement units, gyroscopes, and inclinometers to measure the movement of an antenna platform in relation to the earth in three different axes.
Microprocessors and our proprietary stabilization and control software use that data to compute the antenna movement necessary for the antenna’s motors to point the antenna properly and maintain contact with the satellite.
−Removed: If an obstruction temporarily blocks the satellite signal, our products continue to track the satellite’s location according to the movement of the antenna platform in order to carry out automatic, rapid reacquisition of the signal when a direct line of sight to the satellite is restored.
−Removed: Our certified support network offers our TracVision and TracPhone customers an international network of skilled technical dealers and support centers in many locations where our customers are likely to travel.
+Added: If an obstruction temporarily blocks the satellite signal, our products either automatically switch to an available, alternate satellite beam or, if no other beam is available, continue to track the satellite’s location according to the movement of the antenna platform in order to carry out automatic, rapid reacquisition of the signal when a direct line of sight to the satellite is restored.
+Added: Our certified support network offers our TracVision, TracNet, and TracPhone customers an international network of skilled technical dealers and support centers in many locations where our customers are likely to travel or conduct business.
We have selected technical dealers based on their technical expertise, professionalism, and commitment to quality, and regularly provide them with extensive training in the sale, installation, and support of our products.
−Removed: In the marine market, we offer a range of mobile satellite TV, internet access, and communications products.
+Added: Maritime Products
+Added: In the marine market, we offer a range of mobile satellite TV and communications products.
Satellite Internet and Phone.
−Removed: Our mini-VSAT Broadband products and services provide an end-to-end solution for offshore mobile connectivity.
−Removed: This unified C/Ku-band Broadband service enables us to offer commercial, leisure, and government customers an integrated hardware and service solution for mobile communications and seamless region-to-region roaming.
−Removed: We design and manufacture the onboard TracPhone terminals, own hub equipment installed in leased earth stations, lease the satellite capacity, manage the network through third-party service providers, and provide 24/7/365 after-sale support.
−Removed: Because we manufacture the onboard hardware, we can integrate the full rack of discrete below decks equipment typically used on traditional VSAT systems into a single, streamlined unit that is significantly easier to deploy than competing VSAT solutions.
−Removed: Our mini-VSAT Broadband network utilizes advanced next-generation high-throughput satellites (HTS) capabilities offered by Intelsat and SKY Perfect JSAT.
−Removed: Our approach has allowed us to develop and bring to market our TracPhone V series of terminals.
−Removed: Our 60-cm diameter TracPhone V7-HTS Ku-band antenna is 85% smaller by volume and 75% lighter than alternative 1-meter diameter VSAT antennas.
−Removed: We are able to offer download/upload speeds as fast as 10 megabits per second (Mbps)/3 Mbps.
−Removed: In October 2018, we introduced our 37-cm diameter TracPhone V3-HTS Ku-band antenna, which is practical for use on smaller vessels as well as land vehicles.
−Removed: We believe that the TracPhone V3-HTS is the world’s fastest, lightest, ultra-compact Ku-band marine VSAT antenna.
−Removed: Weighing 11 kg (25 lbs.), the TracPhone V3-HTS is smaller than any other Ku-band marine satellite communications antenna currently on the market and is designed to provide faster data speeds (5 Mbps download/2 Mbps upload) than some larger marine satellite antennas.
−Removed: In March 2019, we introduced the TracPhone V11-HTS, which we believe is the world’s fastest 1 meter KU/C-band maritime VSAT antenna, designed to deliver data speeds as fast as 20 Mbps download/3 Mbps upload to commercial maritime vessels and superyachts around the world.
−Removed: The fast data speeds support the critical needs of commercial ships today for operations, Internet of Things (IoT) applications, and crew connectivity.
−Removed: Superyacht guests can now enjoy fast connectivity for streaming HD content and accessing Internet and social media platforms at sea.
−Removed: In March 2021, we introduced the TracPhone V30 marine VSAT antenna, which combines the small 37-cm antenna size, easy installation, and fast data speed to make Internet connectivity, content streaming, and social media use possible on sailboats, center console boats, and recreational boats.
+Added: Our TracNet hybrid terminals and KVH ONE hybrid network offer an end-to-end, multichannel connectivity solution.
+Added: Every TracNet terminal includes an integrated Ku-band VSAT antenna, high-efficiency 5G/LTE cellular antenna, and high-powered Wi-Fi bridge for connections to shore-based Wi-Fi channels.
+Added: TracNet systems offer intelligent hybrid channel switching based on factors such as service availability, costs, and the quality of data transfer.
+Added: In addition, TracNet systems also offer the option to add two additional third-party services and their companion terminals to serve as alternate primary or backup services.
+Added: In addition, we continue to service and support our legacy TracPhone VSAT-only terminals.
+Added: All of these products and services provide an end-to-end solution for offshore mobile connectivity to commercial, leisure, and government customers seeking an integrated hardware and service solution for mobile communications and seamless region-to-region roaming.
+Added: We design and manufacture the TracNet and TracPhone terminals, acquire bandwidth through third-party providers such as Intelsat, manage our network operations, and provide 24/7/365 after-sale support.
+Added: Because we manufacture the onboard hardware, we can integrate the full rack of discrete belowdecks equipment typically used on traditional VSAT systems into a single, streamlined unit that is significantly easier to deploy than competing VSAT solutions.
+Added: In July 2022, we introduced our TracNet H-series terminals with three options:
+Added: the 37 cm TracNet H30, the 60 cm TracNet H60, and the 1 meter TracNet H90.
+Added: These systems all offer multi-channel hybrid connectivity, KVH’s global SIM card, and the option to use customer-supplied SIMs for local cellular service.
+Added: In addition, each antenna contains the modem in the dome for higher efficiency and reduced signal loss, along with single-cable installation.
+Added: VSAT data speeds offered by the TracNet systems vary by antenna diameter:
+Added: TracNet H30 offers maximum speeds of 6/2 Mbps (down/up), TracNet H60 offers maximum speeds of 10/3 Mbps (down/up), and the TracNet H90 offers maximum speeds of 20/3 Mbps (down/up).
+Added: These sizes and speeds ensure that we offer a suite of products and services to support a wide range of vessels from leisure craft as small as 40 feet long and small fishing vessels to superyachts and large commercial vessels.
+Added: In addition to the TracNet systems, we also continue to offer our TracPhone V30 marine VSAT antenna, which was introduced in March 2021.
+Added: The TracPhone V30 combines the small 37 cm antenna size, easy installation, and fast data speed to make Internet connectivity, content streaming, and social media use possible on sailboats, center console boats, and recreational boats.
In addition, the TracPhone V30 is well-suited to commercial vessels that don’t voyage globally, including fishing boats, tugboats, and offshore service vessels.
−Removed: For leisure and commercial vessels, the TracPhone V30 offers the advantages of advanced satcom technology as a replacement for legacy L-band systems that typically provide data speeds of only 432 Kbps.
+Added: For leisure and commercial vessels, the TracPhone V30 offers the advantages of advanced satcom technology as a replacement for legacy L-band systems that typically provide data speeds up to 432 Kbps.
LTE Broadband.
In June 2018, we introduced the TracPhone LTE-1, which is a high-gain dual antenna array, modem, GPS, and Wi-Fi router inside a 34 cm diameter dome.
−Removed: The TracPhone LTE-1 uses cellular technology from two of the leading LTE carriers in the U.S., automatically switching between them to provide Internet access in U.S.
−Removed: waters up to approximately 20 miles offshore, with data download speeds up to 100 Mbps.
−Removed: In June 2021, we introduced the LTE-1 Global marine communications system designed to provide recreational boaters and commercial mariners in more than 150 countries with Internet access up to 20 miles offshore.
+Added: The TracPhone LTE-1 is equipped with a U.S-only SIM card that provides Internet access in U.S.
+Added: waters as far as 20 miles or more (32 kilometers or more) offshore.
+Added: In June 2021, we introduced the LTE-1 Global marine communications system, which is equipped with a global SIM card that supports cellular data service in more than 150 countries with Internet access as far as 20 miles or more (32 kilometers or more) offshore.
The system utilizes LTE Advanced cellular network technology, which is faster than regular 4G LTE.
−Removed: VSAT Deployments.
−Removed: We are actively engaged in sales efforts for the TracPhone antennas and mini-VSAT Broadband service to government agencies for maritime, military, and emergency responder use.
−Removed: We also continue to expand our ability to support the commercial maritime market.
−Removed: For example, in December 2018, we completed the deployment of 45 TracPhone V7-HTS systems on Transpetro oil and gas tankers.
Other Marine Solutions.
−Removed: We offer CommBox, a ship-to-shore network management product that comprises shipboard hardware, a KVH-hosted or privately-owned shore-based hub, and a suite of software applications.
+Added: For our legacy TracPhone systems, we offer CommBox, a ship-to-shore network management product that comprises shipboard hardware, a KVH-hosted or privately-owned shore-based hub, and a suite of software applications.
Our CommBox offerings are generally integrated into the majority of our VSAT product offerings.
We do not generate significant revenue from sales of standalone CommBox hardware.
−Removed: We also offer Iridium OpenPort hardware and service to be used in conjunction with our mini-VSAT service.
+Added: We also offer Iridium OpenPort hardware and service to be used in conjunction with our VSAT service.
Iridium OpenPort service provides data rates up to 128 kilobits per second (Kbps) and covers the entire world, including the polar regions.
−Removed: We offer the Iridium hardware and service along with our own mini-VSAT solution with the integrated CommBox functionality, which will switch over to the Iridium service if the mini-VSAT service is not available.
+Added: We offer the Iridium hardware and service along with our own hybrid and VSAT solutions with the integrated CommBox functionality, which will switch over to the Iridium service if KVH’s VSAT, 5G/LTE, or shore Wi-Fi services are not available.
Some of our customers add the Iridium service to expand the geographic coverage of the system or as a backup service.
In September 2019, we began offering Iridium Certus, a next-generation L-band solution providing pole-to-pole global coverage.
−Removed: As a companion to our VSAT systems, the Iridium Certus 38-cm diameter Cobham Sailor 4300 antenna provides L-band data speeds of 704 Kbps download/176 Kbps upload.
−Removed: Optional routing enables onboard data to switch between our mini-VSAT Broadband service and Iridium Certus.
−Removed: In addition to our TracPhone VSAT products and mini-VSAT Broadband service, we also offer a family of Inmarsat-compatible TracPhone products that provide in-motion access to global satellite communications.
+Added: We currently offer three terminals compatible with Iridium Certus service – the Thales VesseLINK 200 (data speeds as fast as 176/176 Kbps down/up), the VesseLINK 700 (data speeds as fast as 704/352 Kbps down/up), and the Cobham Sailor 4300 (data speeds as fast as 704/176 Kbps down/up), which is only available to AgilePlans subscribers (described below).
+Added: Optional routing enables onboard data to switch between our KVH ONE hybrid network services and Iridium Certus.
+Added: In addition to our TracNet hybrid and TracPhone VSAT-only products and associated airtime services service, we also offer a family of Inmarsat-compatible TracPhone products that provide in-motion access to global satellite communications.
These products rely on services offered by Inmarsat, a satellite service provider that supports links for phone, fax, and data communications as fast as 432 Kbps.
−Removed: The TracPhone FB250, FB500, and FleetOne antennas use the Inmarsat FleetBroadband service to offer voice and Internet service.
−Removed: The TracPhone FB250, FB500 and FleetOne products are manufactured by Cobham and distributed on an OEM basis by us in North America under our TracPhone brand and distributed in other markets on a non-exclusive basis.
−Removed: Unlike mini-VSAT Broadband, where we control and sell the airtime, we purchase Inmarsat and Iridium airtime directly from these companies and resell it to our customers.
−Removed: Satellite TV .
+Added: The TracPhone FB250, FB500, and FleetOne antennas use the Inmarsat FleetBroadband service to offer VoIP and Internet service.
+Added: The TracPhone FB250, FB500 and FleetOne products are manufactured by Cobham and distributed on an original equipment manufacturer basis by us in North America under our TracPhone brand and distributed in other markets on a non-exclusive basis.
+Added: Unlike our VSAT airtime, where we control and sell the airtime, we purchase Inmarsat and Iridium airtime directly from these companies and resell it to our customers.
+Added: In March 2023, we informed our distribution channel that we will be selling Starlink terminals as companion terminals for new TracNet installations as well as for existing TracNet and TracPhone systems.
+Added: While Starlink offers a simple data pipe, we believe that a KVH/Starlink companion deployment offers a more robust solution thanks to our intelligent hybrid switching, KVH ONE global hybrid network, integrated services, enterprise-grade cybersecurity, and other features.
+Added: Customers who
+Added: purchase a Starlink companion terminal will be required to also have an active KVH VSAT airtime plan to activate the hybrid switching license.
+Added: Customers will be activating their Starlink airtime through and receiving technical support from Starlink, not from KVH.
+Added: We anticipate shipping Starlink units at the end of March 2023 or early April 2023.
+Added: We will be distributing these Starlink terminals on a non-exclusive basis and are not receiving any airtime commission.
+Added: Maritime Satellite TV .
Our TracVision TV-series satellite TV antennas are designed with the full spectrum of vessel sizes in mind, ranging from recreational vessels as small as 20 to 25 feet to large commercial vessels.
The TV-series incorporate an Internet Protocol (IP)-enabled control unit to allow access to system information from any Wi-Fi device.
−Removed: Our family of marine TracVision products includes the 32-cm diameter TracVision TV1, 37-cm diameter TracVision TV3, 45-cm diameter TracVision TV5, 60-cm diameter TracVision TV6, and 81-cm TracVision TV8.
−Removed: These products are compatible with Ku-band SDTV and HDTV programming as well as high-powered regional satellite TV services around the globe, based on available signal strength and antenna size requirements.
+Added: Our family of marine TracVision products includes the 32 cm diameter TracVision TV1, 37 cm diameter TracVision TV3, 45 cm diameter TracVision TV5, 60 cm diameter TracVision TV6, 81 cm TracVision TV8, and 1 meter TracVision TV10.
+Added: These products are compatible with Ku-band SDTV and HDTV programming as well as high-powered regional satellite TV services around the globe, based on the available signal strength and antenna size requirements.
+Added: TracVision TV-series products also offer configuration, status, and service capabilities via the optional, free TracVision application for use on iOS and Android mobile devices.
Our TracVision HD-series satellite TV antennas are designed to offer a high-definition TV experience comparable to that available to a home DIRECTV HDTV subscriber.
−Removed: Our TracVision HD7 uses a 60-cm diameter satellite TV antenna to receive signals from two DIRECTV Ka-band satellites and one DIRECTV Ku-band satellite simultaneously.
−Removed: It includes an IP-enabled antenna control unit as well as an optional antenna control unit via a free TracVision application for use on an Apple iPhone or iPad.
−Removed: We believe the TracVision HD7 was the first marine antenna to offer this combination of capabilities.
+Added: Our TracVision UHD7, launched in October 2019, uses a 60 cm diameter satellite TV antenna to receive signals from two DIRECTV Ka-band satellites and one DIRECTV Ku-band satellite simultaneously.
+Added: It also supports Ku-band DISH Network in the United States, select portions of the Caribbean, and DISH Mexico in Central America, along with Bell TV in Canada.
+Added: It includes an IP-enabled antenna control unit and, as with the TracVision TV-series, the TracVision UHD7 offers configuration, status, and service capabilities via the optional, free TracVision application for use on iOS and Android mobile devices.
+Added: The TracVision UHD7 is the successor to our original award-winning TracVision HD7, which we believe was the first marine antenna to offer this combination tri-satellite reception capabilities.
Our TracVision HD11 offers a worldwide satellite TV capability through the use of a 1-meter diameter antenna and a global low noise block (LNB) designed for use with the majority of direct-to-home satellite TV services.
2 unchanged sentences
The Ka-band receives DIRECTV HDTV.
−Removed: Like the TracVision HD7, the TracVision HD11 features an optional application for the Apple iPhone or iPad to provide easy control of the system.
−Removed: In October 2019, we launched the TracVision UHD7, a high-performance 60 cm (24 inch) marine satellite TV antenna designed to provide boat owners, charter yacht guests, and commercial vessel crews with access to ultra high-definition (UHD) and 4K programming from DIRECTV as well as regular HD programming from other leading satellite TV providers.
−Removed: In August 2020, we launched the TracVision TV10, a 1 meter ultrahigh efficiency marine satellite TV antenna designed to provide the biggest coverage footprint in our TracVision series and to provide boat owners, charter yacht guests, and commercial vessel crews with access to live news, local channels, and TV and movie programming from leading satellite TV providers worldwide.
+Added: Like the TracVision UHD7, the TracVision HD11 features an optional application for iOS mobile devices to provide easy control of the system.
+Added: Land Mobile Products
We design, manufacture, and sell a range of TracVision satellite TV antenna systems for use on a broad array of vehicles, including recreational vehicles (RV), buses, conversion vans, and automobiles.
−Removed: In the RV and bus markets, we offer TracVision satellite TV products, intended for both stationary and in-motion use.
−Removed: Our TracVision R1 delivers DIRECTV or DISH network service through a small 32-cm diameter dome.
−Removed: Our TracVision A9 uses hybrid phased-array antenna technology to provide in-motion reception of satellite TV programming in the continental United States using either the DIRECTV or DISH Network services.
−Removed: The TracVision A9 stands approximately five inches high
−Removed: and mounts either to a vehicle’s roof rack or directly to the vehicle’s roof, making it practical for use aboard minivans, SUVs and other passenger vehicles.
+Added: In the RV and bus markets, we offer Ku-band TracVision satellite TV products, intended for both stationary and in-motion use.
+Added: Our TracVision R1 delivers standard-definition DIRECTV and high-definition DISH network service through a small 32 cm diameter dome.
+Added: Our TracVision A9 uses hybrid phased-array antenna technology to provide in-motion reception of satellite TV programming in the continental United States using either the standard-definition DIRECTV or high-definition DISH Network services.
+Added: The TracVision A9 stands approximately five inches high and mounts either to a vehicle’s roof rack or directly to the vehicle’s roof, making it practical for use aboard minivans, SUVs and other passenger vehicles.
The TracVision A9 includes a mobile satellite television antenna and an IP-enabled TV hub for easy system configuration and control via Wi-Fi devices, such as an Apple iPhone or iPad.
The TracVision A9 is also suitable for tall motor coaches and buses.
−Removed: Automotive customers subscribe to DIRECTV’s TOTAL CHOICE MOBILE satellite TV programming package, which is specifically promoted for automotive applications, or to DISH Network programming.
Airtime Services
−Removed: In conjunction with our mobile satellite antenna hardware and software, we provide airtime plans that enable customers to obtain Internet and voice services.
−Removed: We offer a variety of rate plans that are flexible to meet the customer's needs.
−Removed: The key features of the mini-VSAT Broadband service are usage-based airtime plans, a network management portal and a comprehensive global customer support program.
−Removed: Our usage-based plans are designed around each vessel's monthly data requirements for operational and crew needs.
−Removed: Our network management portal, myKVH, is a secure portal that enables a ship operator to manage network usage by vessel or by individual crew members by allocating operational and crew data caps while receiving customized usage alerts.
−Removed: For customers who want the certainty of a fixed monthly price, we offer fixed rate plans that vary depending on data speeds, and include protocol restrictions such as limiting streaming of video content.
−Removed: User speeds are also restricted but not stopped when users reach established data use thresholds.
−Removed: In addition, we offer multiple usage plans that are either billed monthly based on the data consumed without any application or protocol blocking or based on a monthly minimum data quota with the option to add more data for an incremental charge.
−Removed: AgilePlans, one of our mini-VSAT Broadband services for commercial maritime customers, offers an all-inclusive Connectivity as a Service, or CaaS, usage-based pricing model.
−Removed: Under this all-in-one CaaS model, we charge subscribers a single monthly fee in exchange for which we provide satellite communication hardware, shipping and installation, maintenance and support, airtime and voice services, a service management portal and certain basic content services with no minimum commitment and no long-term contract required.
−Removed: We offer AgilePlan customers a variety of airtime data plans with varying data allotments and fixed data usage levels with our exclusive dual-channel configuration with dual channel airtime plans delivering both a high-speed channel and an unlimited use data channel.
−Removed: Under our CaaS model, we retain ownership of our satellite equipment and do not sell it to subscribers, who must return the hardware to us if they terminate our service.
+Added: In conjunction with our mobile satellite antenna hardware and software, we provide airtime plans that enable customers to obtain Internet and VoIP services.
+Added: We offer a variety of rate plans that are flexible to meet customer needs.
+Added: The key features of KVH’s airtime services are a choice of high-speed and unlimited use airtime plans, a network management portal, and a comprehensive global customer support program.
+Added: Our high-speed plans offer simple, usage-based monthly data bundles.
+Added: When the high-speed data bundle is consumed, subscribers have the option to maintain high data speed at all times with low per MB overage rates or to shift to a slower unlimited use data speed for the remainder of the month.
+Added: Our unlimited use data plans offer plans based on maximum upload and download speeds.
+Added: All TracNet and TracPhone 60 cm and 1 meter antennas support simultaneous high-speed and unlimited use plans for optimal flexibility while all 37 cm terminals offer a single high-speed data channel.
+Added: Our customer portal, myKVH, is a secure site that offers KVH customers easy access to technical support, product warranty and user documentation, billing, and our VSAT Manager and next-generation KVH Manager system and network tools.
+Added: Available tools and reports include, among other features, terminal status, real-time data reporting and the ability to
+Added: manage data access by application category, configure the KVH terminal, optimize performance with Tracking Avoidance Zones, set data usage alerts and get real-time vessel tracking reports with up to one year of historical data.
+Added: AgilePlans, one of our options for commercial maritime customers, offers an all-inclusive Connectivity as a Service, or CaaS, usage-based pricing model.
+Added: Under this all-in-one CaaS model, we charge subscribers a single monthly fee in exchange for which we provide either TracNet or TracPhone satellite communication hardware, subsidized shipping and installation, maintenance and support, airtime and VoIP services, a service management portal and certain basic content services with no minimum commitment and no long-term contract required.
+Added: We offer AgilePlans customers a variety of airtime data plans with varying data allotments and fixed data usage levels with our exclusive dual-channel configuration with dual channel airtime plans delivering both a high-speed channel and an unlimited use data channel.
+Added: Under our CaaS model, we retain ownership of the hardware and do not sell it to subscribers, who must return it to us if they terminate our service.
We expect that, as customers subscribe to our AgilePlans service, our revenues from product sales will continue to decline, and our provision of this equipment to subscribers will continue to increase our capital expenditures, which over time will continue to increase our costs of service sales as we depreciate these assets.
−Removed: In June 2019, we launched KVH Watch®, our all-inclusive, no-commitment, Internet of Things (IoT) Connectivity as a Service program for the maritime industry utilizing global mini-VSAT communications.
−Removed: Through our KVH Watch service, we offer a connectivity solution for remote equipment monitoring and intervention by maritime equipment manufacturers and IoT application providers.
−Removed: With remote monitoring, manufacturers can more easily act in real time, reducing expensive service calls and improving equipment performance for the maritime operation.
In October 2017, we launched our next-generation, advanced maritime broadband network with Intelsat.
The HTS high-speed network incorporates Intelsat Epic satellite services and the IntelsatOne Flex platform, a global managed service designed to optimize bandwidth allocations and provide flexible coverage where it is needed.
−Removed: Our mini-VSAT Broadband network also benefits from Asian satellite capacity provided by SKY Perfect JSAT.
−Removed: Overall, our mini-VSAT Broadband HTS network currently uses a combination of 156 Ku-band transponders (five of which we directly contract for) on 17 satellites to provide Ku-band coverage throughout the northern and southern hemispheres.
−Removed: Three of the 17 satellites are considered high-throughput satellites that provide coverage via overlapping high-powered spot beams.
−Removed: Eighty-eight of the 156 Ku-band transponders are served by the high-throughput satellites.
+Added: Our global HTS network also benefits from Asian satellite capacity provided by SKY Perfect JSAT.
+Added: Overall, our global HTS network currently uses a combination of 159 Ku-band transponders (5 of which we directly contract for) on 22 satellites to provide Ku-band coverage throughout the northern and southern hemispheres.
+Added: Of the 22 satellites, 3 are considered high-throughput satellites that provide coverage via overlapping high-powered spot beams.
+Added: Of the 159 Ku-band transponders, 136 are on high-throughput satellites.
During the first quarter of 2018, we entered into a five-year capital lease for three satellite hubs for the HTS network.
During the first quarter of 2021, the terms of this lease were adjusted and we discontinued use of two satellite hubs in exchange for additional satellite service capacity.
−Removed: In the first quarter of 2022, we are expanding our satellite connectivity services that will allow vessels to use KVH connectivity while operating in Indian territorial waters.
−Removed: In addition, KVH will offer satellite connectivity services to Indian flagged vessels.
−Removed: It is our long-term plan to continue to maintain and enhance our mini-VSAT Broadband network.
+Added: In the first quarter of 2022, we expanded our satellite connectivity services that will allow vessels to use KVH connectivity while operating in Indian territorial waters.
+Added: In addition, KVH now offers satellite connectivity services to Indian-flagged vessels.
+Added: It is our long-term plan to continue to maintain and enhance our global HTS network.
On December 31, 2021, we closed down our legacy mini-VSAT Broadband network, which had used a combination of 20 Ku-band transponders on 15 satellites to provide Ku-band coverage throughout the northern hemisphere and around the continents in the southern hemisphere.
−Removed: The bandwidth speeds offered by the Ku-band satellites also permit faster data rates than those supported by Inmarsat’s L-band satellites.
−Removed: TracPhone V11-HTS customers may select service packages with Internet data connections offering shore-to-ship satellite data rates as fast as 20 Mbps, and ship-to-shore satellite data rates as fast as 3 Mbps.
−Removed: The V7-HTS offers shore-to-ship satellite data rates as fast as 10 Mbps and ship-to-shore data rates as fast as 3 Mbps.
−Removed: The TracPhone V3-HTS, due to its smaller dish diameter, offers shore-to-ship satellite data rates as fast as 5 Mbps and ship-to-shore data rates as fast as 2 Mbps.
−Removed: In addition, subscriptions include Voice over Internet Protocol (VoIP) telephone services designed for use over satellite connections.
−Removed: The TracPhone V11-HTS and V7-HTS can support two or more simultaneous calls while the TracPhone V3-HTS can support one call at a time.
−Removed: In addition, we offer professional services for our VSAT products that include network design, installation of onboard TracPhone terminals and custom configuration of the CommBox based on customer requirements.
−Removed: These services are performed by our employees as well as a dealer network of certified engineers.
+Added: The majority of our existing customers on the legacy network were migrated to the new global HTS network.
Content Services
−Removed: As part of our mobile connectivity segment, we offer a variety of value-added services to our maritime customers as well as news content to our hotel customers and radio content to a small number of retail customers.
+Added: We offer a variety of value-added services to our maritime customers as well as news content to our hotel customers.
The vast majority of these value-added services are subscription-based.
−Removed: Our KVH Media Group, which is based in the United Kingdom, distributes commercially licensed entertainment, including news, sports, music, and movies, to commercial and leisure customers in the maritime, hotel, and retail markets.
−Removed: Sales from KVH Media Group are included in our mobile connectivity service sales as part of content service sales.
+Added: Our KVH Media Group, which is based in the United Kingdom, distributes commercially licensed entertainment, including news, sports, and movies to commercial customers in the maritime and hotel markets, along with supplemental value-added services.
+Added: Sales from KVH Media Group are included as part of content service sales.
Our "news from home" digital newspaper service includes more than 100 daily newspapers in more than 20 languages that at the end of 2022 was delivered to more than 6,000 commercial ships, hotels, and cruise ships.
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For movie and television content, we are an approved distributor of licensed content for certain Hollywood, Bollywood, and independent studios worldwide.
−Removed: In January 2020, we decided to rebrand IP-MobileCast as KVH Link.
−Removed: We offer a content subscription service called KVH Link, delivered by IP-MobileCast wherein content and data files are transmitted using multicast technology across our global satellite networks to every vessel or mobile vehicle that has an active, compatible TracPhone V series or V-HTS series terminal.
+Added: We offer a content subscription service called KVH Link, delivered by IP-MobileCast wherein content and data files are transmitted using multicast technology across our global satellite networks to every vessel that has an active, compatible TracPhone V-series terminal.
This delivery mechanism reduces the amount of bandwidth required to transmit large files to a large population of customers.
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While traditionally we licensed this content to commercial maritime customers primarily through the distribution of DVDs, we have now also automated the transmission of this type of entertainment via KVH Link.
+Added: In June 2020, we also launched our standalone digital service, linkHUB, as an alternative to DVDs.
+Added: The linkHUB unit allows for a digital rights managed entertainment service without the need for a TracPhone V series or V-HTS series terminal.
Customers that subscribe to one of our entertainment packages generally receive a variety of movie and television content that is cached locally onboard.
−Removed: We transmit local "news from home" and international news segments in a variety of languages on a daily, weekly or monthly basis, a library of movies plus daily sports, news clips and special programming such as the highlights of sporting events.
−Removed: The COVID-19 pandemic impacted various aspects of our operations, particularly the KVH Media Group, which depends heavily on travel and travel-related industries.
−Removed: The revenues and cash flows of our KVH Media Group business were significantly impacted due to the global reduction in travel commencing from the start of the pandemic, as the global travel and travel-related industries dropped to historically depressed levels.
−Removed: In the fourth quarter of 2020, we concluded that certain areas of the KVH Media business might not recover completely or at all.
−Removed: As a result of these changes in the KVH Media business, we recognized an intangible asset impairment charge of $1.8 million and a goodwill impairment charge of $8.7 million for the year ended December 31, 2020 related to KVH Media Group.
−Removed: Our annual impairment analysis in the fourth quarter of 2021 did not identify any further impairments.
−Removed: Please see Note 1(k) to our accompanying audited consolidated financial statements for additional information.
−Removed: Inertial Navigation Segment
−Removed: We offer a portfolio of innovative digital compass and fiber optic gyro (FOG)-based systems that address the rigorous requirements for precision, performance and stabilization of military and commercial customers.
−Removed: Our systems provide reliable, easy-to-use and continuously available navigation and pointing data.
−Removed: Our guidance and stabilization products include our FOG-based inertial measurement units (IMUs) for precision guidance, FOGs for tactical navigation as well as pointing and stabilization systems, and digital compasses that provide accurate heading information for demanding applications.
−Removed: Sales of FOG-based guidance and navigation systems within the inertial navigation segment accounted for 16% of our consolidated net sales for both 2021 and 2020.
−Removed: Sales of tactical guidance and navigation systems within the inertial navigation segment accounted for 5% and 7% of our consolidated net sales for 2021 and 2020, respectively.
−Removed: Guidance and Stabilization
−Removed: Our high-performance digital signal processing (DSP)-based FOG products use an all-fiber design that has no moving parts, resulting in an affordable combination of precision, accuracy, and durability.
−Removed: Our FOG products support a broad range of military applications, including stabilization of remote weapons stations, antennas, radar, optical devices, or turrets;
−Removed: image stabilization and synchronization for shoulder-or tripod-mounted weapon simulators;
−Removed: precision tactical navigation systems for military vehicles, and guidance for weapons and unmanned autonomous vehicles.
−Removed: Our FOG products are also used in numerous commercial products, such as navigation and positioning systems for various applications including autonomous platforms, precision mapping, dynamic surveying, train location control and track geometry measurement systems, industrial robotics, and optical stabilization.
−Removed: Our open-loop DSP-1750, DSP-3000, and DSP-4000 FOGs provide precision measurement of the rate and angle of a platform’s turning motion for significantly less cost than competing closed-loop gyros.
−Removed: These DSP-based products deliver performance superior to analog signal processing devices, which experience greater temperature-sensitive drift and rotation errors.
−Removed: Applications for these products include inertial measurement units, integrated navigation systems, attitude/heading/reference systems, and stabilization of antenna, radar, and optical equipment.
−Removed: The DSP-1750, which we believe to be the world’s smallest high-performance FOG, uses our E · Core TM ThinFiber technology.
−Removed: This thin fiber, which is produced at our Tinley Park, Illinois manufacturing facility, is only 170 microns in diameter, enabling longer lengths of fiber to be wound into smaller housings.
−Removed: Since the length of the fiber used in a FOG directly relates to gyro accuracy and performance, this technology enables us to produce smaller and more accurate gyros.
−Removed: The small size and weight of the DSP-1750 make it well suited for applications with size and weight restrictions, such as night vision and thermal imaging systems, aircraft-mounted gimbaled cameras for law enforcement and homeland security, and shipboard optical systems.
−Removed: Our DSP-1760 single-axis and multi-axis FOGs offer improved performance and ease of integration relative to the DSP-1750.
−Removed: Many customers using our DSP-1750 single-axis and dual-axis FOGs also had requirements for packaged DSP-1750s.
−Removed: To address this demand, we introduced the DSP-1760 product line, consisting of packaged one, two, or three axes of FOGs, each with two different interface connector options.
−Removed: The DSP-3000, DSP-3100, and DSP-3400 are each slightly larger than a deck of playing cards and offer a variety of interface options to support a range of applications.
−Removed: High-performance 2-axis and 3-axis configurations can be realized by integrating multiple DSP-3000 and DSP-3100 units.
−Removed: Currently, the DSP-3000, DSP-3100, and DSP-3400 are used in an array of pointing and stabilization applications, including the U.S.
−Removed: Army’s Common Remotely Operated Weapon Station (CROWS) to provide the image and gun stabilization necessary to ensure that the weapon remains aimed at its target.
−Removed: We estimate that more than 20 companies have developed or are developing stabilized remote weapons stations that we believe will require similar FOG stabilization capabilities.
−Removed: The larger, militarized dual axis DSP-4000 is designed for use in high-shock and highly dynamic environments, such as gun turret stabilization.
−Removed: The CG-5100, our first commercial-grade IMU, is suitable for a wide range of applications such as 3D augmented reality, mobile mapping, platform navigation, and GPS augmentation for unmanned vehicle programs, precise mapping, and imagery.
−Removed: Our 1750 IMU is an advanced 6-degrees-of-freedom sensor designed to integrate easily into the most demanding stabilization, pointing, and navigation applications.
−Removed: It offers enhanced performance at a lower cost than competing systems.
−Removed: The 1750 IMU marries the E·Core ThinFiber technology of our DSP-1750 FOGs with very low noise, solid state MEMS accelerometers to create a commercial-off-the-shelf IMU.
−Removed: Our 1775 IMU and 1725 IMU products complement the 1750 IMU and provide customers with a range of choices for advanced 6-degrees-of-freedom sensors.
−Removed: The family of IMUs offers exceptional precision in a very small form factor, making them suitable for applications where space is limited, such as manned and unmanned commercial and defense platforms, optical equipment stabilization systems, pipeline inspection equipment, and autonomous vehicle control and navigation systems.
−Removed: Our GEO-FOG 3D and GEO-FOG 3D Dual inertial navigation systems offer roll, pitch and heading accuracies of 0.05 degrees for demanding applications in unmanned, autonomous and manned aerial platforms.
−Removed: These systems combine our 1750 IMU technology with centimeter-level precise GNSS receivers, a 3-axis magnetometer and a barometric pressure sensor.
−Removed: In June 2020, we introduced the P-1775 IMU featuring our new PIC Inside photonic integrated chip (PIC) technology.
−Removed: Our PIC Inside technology features an integrated planar optical chip that replaces individual fiber optic components to simplify production while maintaining or improving accuracy and performance.
−Removed: The PIC Inside product is designed to deliver 20 times higher accuracy than less expensive MEMS inertial measurement units, uses modular designs for ease of integration, and can be reliably manufactured at higher volumes than our traditional IMU products.
−Removed: In 2021, we continued the integration of the PIC into our inertial navigation products, adding this technology to other products in the 17XX family of inertial measurement units, fiber optic gyros and inertial navigation systems.
−Removed: We also upgraded the existing MEMs-based accelerometer integrated within the 17XX IMU offering, delivering significant performance improvement across multiple input ranges.
−Removed: Keeping in line with our previous portfolio, we have added a higher input range variant in the P-1775, reaching upwards of 100 g’s to support applications where the environment demands more capability, such as various airborne deployments, high caliber turret and weapon pointing and underground mining applications.
−Removed: Tactical Navigation
−Removed: Our TACNAV tactical navigation product line employs digital compass sensors and KVH FOGs to offer vehicle-based navigation and pointing systems with a range of capabilities, including Global Positioning Systems / Global Navigation Satellite System (GPS/GNSS) backup and enhancement, vehicle position, hull azimuth and navigation displays.
−Removed: Because our digital compass products measure the earth’s magnetic field rather than detect satellite signals from the GPS/GNSS, they are not susceptible to GPS/GNSS jamming devices.
−Removed: TACNAV systems vary in size and complexity to suit a wide range of vehicles.
−Removed: Our TACNAV Light, including a version with embedded GPS/GNSS, is low-cost, digital compass-based battlefield navigation system specifically designed for non-turreted vehicles, such as high mobility multi-wheeled vehicles (HMMWVs) and trucks.
−Removed: Our TACNAV TLS, a digital compass-based tactical navigation and targeting system, offers a FOG upgrade for enhanced accuracy designed for turreted vehicles, including reconnaissance vehicles, armored personnel carriers, and light armored vehicles.
−Removed: Our TACNAV II Fiber Optic Gyro Navigation system offers a compact design, continuous output of heading and pointing data, and a flexible architecture that allows it to function as either a stand-alone navigation module or as the central component of an expanded, multifunctional navigation system.
−Removed: Our FOG-based TACNAV 3D product provides full three-dimensional navigation.
−Removed: The TACNAV 3D is fitted with an Iridium transceiver to transmit and receive vehicle position, waypoint, and target location to or from a command center or other vehicle.
−Removed: The system also allows messages to be received from battlefield management systems.
−Removed: The TACNAV Moving Map Display offers real-time moving map technology and an easy-to-use graphical navigation capability for military vehicles.
−Removed: It is compatible with existing and future TACNAV systems, provides a high-bright display for outdoor viewing, and dims to support low-light tactical operations.
−Removed: Our navigation systems function as standalone tools and also aggregate, integrate, and communicate critical information from a variety of on-board systems.
−Removed: TACNAV can receive data from systems such as the vehicle’s odometer, military and commercial GPS devices, laser rangefinders, turret angle indicators and laser warning systems.
−Removed: TACNAV can also output this data to an on-board computer for retransmission through the vehicle’s communications systems to a digital battlefield management application.
−Removed: Our TACNAV digital compass products have been sold for use aboard U.S.
−Removed: Army, Marine Corps, and Navy vehicles as well as to many foreign countries, including Australia, the United Kingdom, Canada, Germany, Italy, New Zealand, Saudi Arabia, Spain, Sweden, Taiwan, Malaysia, and Switzerland.
−Removed: We believe that we are among the leading manufacturers of such systems.
−Removed: Our standard TACNAV products can be customized to our customers’ specifications.
−Removed: At customer request, we offer training and other services.
+Added: We transmit local "news from home" and international news segments in a variety of languages on a daily, weekly or monthly basis, a library of movies plus daily sports, news clips and special programming such
+Added: as the highlights of sporting events.
Value-added Services
−Removed: Our value-added services for the inertial navigation market include engineering and program management services, product repairs, and engineering services provided under development contracts.
+Added: We also recognize that our customers desire more than just a simple pipe for data and connectivity.
+Added: Our TracNet and TracPhone systems are designed to support an expanding suite of value-added services that both increase the capabilities of our customers' systems as well as generate additional recurring revenue for KVH.
+Added: Among these value-added services are a new enterprise-grade Managed Firewall powered by industry leader Fortinet, a cloud email system for commercial fleets and seafarers, real-time vessel tracking, and our KVH Link content service.
+Added: Sale of KVH Media Group Entertainment Limited
+Added: On April 29, 2022, KVH Media Group Limited, our wholly owned subsidiary, sold its subsidiary KVH Media Group Entertainment Limited for net cash proceeds of $2.4 million.
+Added: This transaction did not meet the criteria for reporting as discontinued operations under Financial Accounting Standards Board Accounting Standards Codification (ASC) 205-20.
+Added: We recorded a gain on the sale of approximately $0.7 million, which is recorded in other income, net in the accompanying consolidated statements of operations.
+Added: See Note 9 to our accompanying audited consolidated financial statements for the reduction of goodwill and intangibles associated with the KVH Media Group reporting unit as it relates to the sale of this subsidiary.
+Added: Sale of Inertial Navigation Business - Discontinued Operations
+Added: On August 9, 2022, we sold our inertial navigation business to EMCORE Corporation for gross proceeds of $55.0 million, less specified deductions and a holdback of $1.0 million and subject to a working capital adjustment.
+Added: The finalized working capital adjustment, which resulted in a $0.1 million payment to EMCORE, was recorded in the fourth quarter of 2022.
+Added: The holdback was released to us on August 17, 2022.
+Added: On August 9, 2022, we also entered into a Transition Services Agreement with EMCORE, pursuant to which we agreed to provide certain transition services to support the continued operation of the inertial navigation business for six months following the sale with two extension options of three months each.
+Added: The fee is comprised of both fixed monthly fees of approximately $0.1 million as well as variable amounts for certain additional services with escalation increases on the fixed and variable rates for each extension option.
+Added: We do not have any continuing involvement in these operations other than short-term transition services, which are being recorded as an offset to general and administrative expenses in continuing operations.
+Added: We determined that the sale met the requirements for reporting as discontinued operations in accordance with ASC 205-20.
+Added: Please see Notes 1 and 16 of our accompanying audited consolidated financial statements for further information.
Sales, Marketing and Support
−Removed: Our sales, marketing and support efforts target markets that are substantial and complex, and require in many cases networks of intermediaries, such as dealers, distributors, airtime service providers, and manufacturers' representatives, to reach our ultimate customers.
+Added: Our sales, marketing, and support efforts target markets that are substantial and complex, and require, in many cases, networks of intermediaries, such as dealers, distributors, airtime service providers, and manufacturers’ representatives, to reach our end-user customers.
These sales channels vary and evolve from time to time, but currently include targeted efforts to reach the commercial and leisure maritime markets;
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• TracVision® - satellite television systems for vessels and vehicles
−Removed: • TracPhone - two-way satellite communications systems
−Removed: • mini-VSAT Broadband - mobile satellite communications network and value-added services such as VoIP, data management, content and content delivery
−Removed: • KVH Link - content delivery service by IP-Mobilecast
+Added: • TracNet™ – integrated hybrid two-way communication terminals with VSAT, 5G/LTE, and shore-based Wi-Fi
+Added: • KVH ONE™ - global hybrid communication network supporting Internet, VoIP, content delivery, and more
+Added: • TracPhone® - two-way VSAT-only satellite communications systems
+Added: • KVH Link – crew wellbeing content subscription service with delivery by IP-Mobilecast
• NEWSlink™ - maritime news delivery service through a variety of means
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• MOVIElink TM - movie distribution through a variety of means
+Added: • MUSIClink™ - music and karaoke delivered through a v
• CommBox™ - data management software for maritime communications
−Removed: • TACNAV - tactical navigation systems for military vehicles
−Removed: • KVH OneCare - services and support for the mini-VSAT Broadband solution
−Removed: • AgilePlans by KVH - Connectivity as a Service Program
−Removed: • KVH Watch - IoT Connectivity as a Service
−Removed: • KVH Elite TM - dedicated bandwidth for HD-quality streaming
−Removed: We sell our mobile connectivity products directly and through an international network of independent retailers, chain stores, distributors, and service providers as well as to manufacturers of vessels, maritime equipment, and vehicles.
+Added: • KVH OneCare™ - global services and support for TracNet and TracPhone systems
+Added: • AgilePlans® - Connectivity as a Service Program
+Added: • KVH Elite TM – unlimited HD-quality streaming service for leisure yachts
+Added: We sell our products directly and through an international network of independent retailers, chain stores, distributors, and service providers as well as to manufacturers of vessels, maritime equipment, and vehicles.
We sell news, sports, and entertainment media content directly through our KVH Media Group, headquartered in Leeds, England.
−Removed: Our European headquarters, which is located in Denmark, coordinates our sales, marketing, and support efforts for our mobile connectivity products in Europe, the Middle East, and Africa.
+Added: Our European headquarters, which is located in Denmark, coordinates our sales, marketing, and support efforts for our products in Europe, the Middle East, and Africa.
Our Asia-Pacific headquarters are managed through our office in Singapore.
−Removed: We sell our inertial navigation products directly to U.S.
−Removed: and foreign governments and government contractors, as well as through an international network of authorized independent sales representatives.
−Removed: This network also sells our FOG products to commercial and industrial customers.
−Removed: Backlog is not a meaningful indicator for predicting revenue in future periods.
−Removed: Commercial resellers for our mobile connectivity products and legacy products typically do not carry extensive inventories and rely on us to ship products quickly.
−Removed: Generally, due to the rapid delivery of our commercial products, our backlog for those products is not significant.
−Removed: Our backlog for all products and services was $23.9 million and $20.4 million on December 31, 2021 and 2020, respectively.
−Removed: As of December 31, 2021, $16.3 million of our backlog was scheduled for fulfillment in 2022 and $7.6 million was scheduled for fulfillment in 2023 through 2025.
−Removed: The increase in backlog of $3.5 million from December 31, 2020 to December 31, 2021 was primarily the result of a $9.0 million increase in FOG product orders and $2.6 million increase in mobile connectivity product orders, partially offset by a $7.3 million decrease in TACNAV product orders and a $0.7 million decrease in contracted engineering services.
−Removed: Backlog consists of orders evidenced by written agreements and specified delivery dates for customers who are acceptable credit risks.
−Removed: We do not include satellite connectivity or media content service sales in our backlog even though many of our satellite connectivity and media content customers have signed annual or multi-year service contracts providing for a fixed monthly fee.
−Removed: Military orders included in backlog are generally subject to cancellation at the convenience of the customer.
−Removed: When orders are canceled, we generally recover actual costs incurred through the date of cancellation and the costs resulting from termination.
−Removed: As of December 31, 2021, our backlog included $8.7 million in orders that are subject to cancellation for convenience by the customer.
−Removed: Individual orders for inertial navigation products are often large and may require procurement of specialized long-lead components and allocation of manufacturing resources.
−Removed: The complexity of planning and executing larger orders generally requires customers to order well in advance of the required delivery date, resulting in backlog.
Intellectual Property
−Removed: We currently hold a collection of intellectual property rights relating to various aspects of our inertial navigation and mobile connectivity hardware products, software and services.
+Added: We currently hold a collection of intellectual property rights relating to various aspects of our hardware products, software and services.
We believe that our ability to compete effectively depends to a significant extent on our ability to protect these intellectual property rights and our proprietary information.
We rely primarily on patent, copyright and trade secret laws, trademarks, service marks, trade dress, confidentiality procedures, and licensing arrangements to protect our intellectual property rights in the U.S.
−Removed: and other countries where we determine that such protection is beneficial.
−Removed: When appropriate, we seek to file patent applications to protect innovations arising from our research, development and design activities, and we are currently pursuing 42 U.S.
−Removed: and foreign patent applications.
−Removed: Over time, we have accumulated a portfolio of 36 U.S.
−Removed: and foreign issued patents, including utility patents, design patents and others.
+Added: and a select number of other countries where we determine that such protection is beneficial.
+Added: When appropriate, we seek to file patent applications to protect innovations arising from our research, development and design activities.
+Added: As of December 31, 2022, our patent portfolio included approximately 12 U.S.
+Added: and foreign issued patents, including utility patents, design patents and others and one pending U.S.
+Added: patent application.
We also register our trademarks in the United States and other key international markets where we do business.
−Removed: Our patents will expire at various dates between November 2022 and May 2040.
+Added: Our patents will expire at various dates between January 2024 and May 2037.
We enter into confidentiality agreements with our consultants, key employees, and sales representatives and maintain controls over access to and distribution of our technology, software, and other proprietary information.
−Removed: The steps we have taken to protect our technology may be inadequate to prevent others from using what we regard as our technology to compete with us.
+Added: From time to time, we have faced claims by third parties that our products or technologies infringe their patents or other intellectual property rights.
We do not generally conduct exhaustive patent searches to determine whether the technology used in our products infringes patents held by third parties.
In addition, product development is inherently uncertain in a rapidly evolving technological environment in which there may be numerous patent applications pending, many of which are confidential when filed, with regard to similar technologies.
−Removed: From time to time, we have faced claims by third parties that our products or technologies infringe their patents or other intellectual property rights, and we may face similar claims in the future.
−Removed: Any claim of infringement could cause us to incur substantial costs defending against or settling the claim, even if the claim is invalid, and could distract the attention of our management.
−Removed: If any of our products is found to violate third-party proprietary rights, we may be required to pay substantial damages.
−Removed: In addition, we may be required to re-engineer our products or seek to obtain licenses from third parties to continue to offer our products.
−Removed: Any efforts to re-engineer our products or obtain licenses on commercially reasonable terms may not be successful, which would prevent us from selling our products, and, in any case, could substantially increase our costs and have a material adverse effect on our business, financial condition, and results of operations.
Manufacturing
−Removed: Manufacturing operations for our mobile satellite communications and navigation products consist of light manufacture, final assembly and testing.
−Removed: Manufacturing operations for our FOG products are more complex.
−Removed: We produce specialized optical fiber, FOG components and sensing coils and combine them with components purchased from outside vendors for assembly into finished goods.
−Removed: These finished goods undergo extensive calibration and verification over temperature and rotation before shipping to customers.
−Removed: We own optical fiber drawing towers with which we produce the specialized optical fiber that we use in all of our FOG products.
−Removed: We manufacture, warehouse and distribute our mobile satellite communications products at our facilities in Middletown, Rhode Island.
−Removed: We manufacture our navigation and FOG products in our facility located in Tinley Park, Illinois.
+Added: Manufacturing operations for our products consist of light manufacture, final assembly and testing.
+Added: We manufacture, warehouse and distribute our products at our facilities in Middletown, Rhode Island.
Our manufacturing processes are controlled by an ISO 9001:2015-certified quality standards program.
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We purchase raw materials and most of the components used in our various manufacturing processes, such as printed circuit boards, injection-molded plastic parts, machined metal components, connectors and housings.
−Removed: In addition, we purchase certain services, predominantly networking and mobile broadband services, to support the delivery of our mobile communications solutions.
+Added: In addition, we purchase certain services, predominantly networking and mobile broadband services, to support the delivery of our solutions.
The materials, molds and dies, subassemblies and components purchased from other manufacturers, and other materials and supplies used in our manufacturing processes have generally been available from a variety of sources.
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We regularly evaluate both domestic and foreign suppliers for quality, dependability and cost effectiveness.
−Removed: From time to time the cost and availability of materials and services is affected by the demands of other industries, among other factors.
−Removed: Whenever practical, we seek to establish multiple sources for the purchase of raw materials, components and services to achieve competitive pricing, maintain flexibility, reduced tariff exposure, and protect against supply disruption.
+Added: From time to time the cost and availability of materials and services is affected by the demands of other industries, as well as other factors.
+Added: Whenever practical, we seek to establish multiple sources for the purchase of raw materials, components and services to achieve competitive pricing, maintain flexibility, reduce tariff exposure, and protect against supply disruption.
When possible, we employ a company-wide procurement strategy designed to reduce the purchase price of materials, purchased components and services.
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In the event that we are unable to obtain sufficient quantities of raw materials or components or unable to obtain sufficient access to the services needed to deliver our solutions on commercially reasonable terms or in a timely manner, our ability to manufacture and deliver our products and services on a timely and cost-competitive basis may be compromised, which may have a material adverse effect on our business, financial condition and results of operations.
−Removed: In 2021, we experienced delays in the availability and delivery of certain raw material components, which impacted our manufacturing efficiencies and resulted in delays in shipping products to our customers.
−Removed: We also experienced increases in raw material costs, which we expect to continue throughout 2022.
+Added: In 2022, we continued to experience delays in the availability and delivery of certain raw material components, which impacted our manufacturing and resulted in shipping delays in getting products out to our customers.
+Added: We also experienced increases in raw material costs, which we expect to continue into 2023.
We are continuing to monitor global developments and are prepared to implement any actions that we determine to be necessary to sustain our business, including expanding our sources of supply and modifying product designs to accommodate product availability.
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Many of our primary competitors are well-established companies and some have substantially greater financial, managerial, technical, marketing, operational, and other resources than we do.
−Removed: In the marine market for satellite TV equipment, we compete primarily with Intellian, Cobham SATCOM, Orbit Communication Systems, Raymarine (Intellian made), KNS, and Sea King (King Controls).
−Removed: In the marine market for voice, fax, data, and Internet communications equipment, we compete primarily with Intellian, Cobham SATCOM, Orbit Communication Systems, Jotron AS, KNS Inc., Inmarsat, AddValue, and Iridium Satellite LLC.
−Removed: In the marine market for high-speed voice, fax, data, and Internet services, we compete primarily with Inmarsat, Marlink, Speedcast, Network Innovations, Anuvu, and Isotropic Network.
−Removed: We also face competition from providers of low-speed data services, which include Inmarsat, Globalstar LP, and Iridium Satellite LLC.
+Added: In the marine market for satellite TV equipment, we compete primarily with Intellian, Cobham SATCOM and Raymarine (Intellian made).
+Added: In the marine market for voice, fax, data, and Internet communications equipment, we compete primarily with Intellian and Cobham SATCOM.
+Added: In the marine market for high-speed Internet, voice, fax, and data services, we compete primarily with Inmarsat, Marlink, Speedcast, Viasat and Network Innovations.
+Added: Additionally, we are starting to face competition from new low earth orbit (LEO) networks such as SpaceX's Starlink and OneWeb.
+Added: We also face competition from providers of low-speed data services, which include Inmarsat and Iridium Satellite LLC.
In the market for land mobile satellite TV equipment, we compete primarily with King Controls and Winegard Company.
−Removed: In the markets for media content, we compete primarily with Swank Motion Pictures and Newspapersdirect Inc.
−Removed: In the markets for mobile satellite connectivity technology, the principal competitive factors are product size, features, design, performance, reliability, and price.
+Added: In the markets for media content, we compete primarily with Swank Motion Pictures, Baze Technology, and
+Added: Newspapersdirect Inc.
+Added: In the markets for mobile satellite connectivity products, the principal competitive factors are product size, features, design, performance, reliability, and price.
In the markets for airtime services, the principal competitive factors are geographic coverage, data speed, value-added services, and price.
In the markets for media content, the principal competitive factors are license rights, distribution, and price.
−Removed: In the inertial navigation markets, we compete primarily with Honeywell International Inc., Northrop Grumman Corporation, Sensonor (purchased by Safran in 2021) and Systron Donner Inertial (purchased by EMCORE in 2019).
−Removed: We believe the principal competitive factors in these markets are performance, size, reliability, durability, and price.
Although we believe that we compete favorably with respect to these factors, there can be no assurance that we will continue to do so.
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As a result, our success depends in part upon our ability, on a cost-effective and timely basis, to continue to enhance our existing products and to develop and introduce new products and services that improve performance and meet customers’ operational and cost requirements.
−Removed: Our current research and development efforts include projects to achieve additional cost reductions in our products and the development of new products and services for our existing marine and land mobile communications markets, and navigation, guidance, and stabilization application markets.
−Removed: • In June 2020, we introduced the P-1775 inertial measurement unit (IMU) featuring our new PIC Inside photonic integrated chip (PIC) technology.
−Removed: • In August 2020, we launched the TracVision TV10, a 1 meter ultra high-efficiency marine satellite TV antenna designed to provide the biggest coverage footprint in our TracVision series.
−Removed: • In March 2021, we released the TracPhone V30 mini-VSAT Broadband antenna featuring single-cable, DC-powered design, integrated modem in the dome for higher signal strength and efficiency, and compact below decks unit with built-in Wi-Fi.
−Removed: • In November 2021, we expanded our KVH Watch suite of maritime IoT solutions with Cloud Connect, a service designed to utilize advanced edge computing to enable integration of maritime applications and digital services for smart shipping.
−Removed: Our research and development activities consist of projects funded by us and projects funded partly by customers.
−Removed: Our customer-funded research efforts are made up of contracts with defense and OEM customers, whose performance specifications are unique to their product applications.
−Removed: Defense and OEM research often results in new product offerings.
−Removed: We strive to be the first company to bring a new product to market in order to maintain our market leadership position, and we use our own funds when necessary to accelerate new product development efforts.
+Added: Our current research and development efforts include projects to achieve additional cost reductions in our products and the development of new products and services for our existing marine and land mobile communications markets.
+Added: • In March 2021, we released the TracPhone V30 VSAT Broadband antenna featuring single-cable, DC-powered design, integrated modem in the dome for higher signal strength and efficiency, and compact below decks unit with built-in Wi-Fi.
+Added: • In July 2022, we introduced the TracNet H30, H60 and H90 in our H-Series product line.
+Added: • In October 2022, we introduced DC-powered versions of the TracNet H30 and H60 in our H-Series product line.
+Added: We strive to be the first company to bring new products to market in order to maintain our market leadership position, and we use our own funds when necessary to accelerate new product development efforts.
Government Regulation
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These laws and regulations are subject to change, and any such change may require us to improve our technologies, incur expenditures, or both, in order to comply with such laws and regulations.
−Removed: We are subject to compliance with the U.S.
−Removed: Export Administration Regulations.
−Removed: Some of our products have military or strategic applications and are on the Munitions List of the U.S.
−Removed: International Traffic in Arms Regulations.
−Removed: These products
−Removed: require an individual validated license to be exported to certain jurisdictions.
−Removed: The length of time involved in the licensing process varies and can result in delays of the shipping of the products.
−Removed: Sales of our products to either the U.S.
−Removed: government or its prime contractors are subject to the U.S.
−Removed: Federal Acquisition Regulations.
We are also subject to the laws and regulations of the U.S.
and foreign jurisdictions in which we offer and sell our satellite communication products and services, including those of the European Union, Brazil, Norway, Singapore, and Japan.
+Added: M any of the countries where our customers use our products and services have licensing and regulatory requirements for the importation and use of satellite communications and reception equipment, including the use of such equipment in territorial waters, the transmission of satellite signals on certain radio frequencies, the transmission of VoIP services using such equipment, and, in some cases, the reception of certain video programming services.
+Added: In the U.S., many of these matters are regulated by the Federal Communications Commission.
+Added: As a result of our international operations, we are subject to a number of additional legal requirements, including the U.S.
+Added: Foreign Corrupt Practices Act, the U.K.
+Added: Bribery Act and the customs, export, trade sanctions and anti-boycott laws of the United States, including those administered by the U.S.
+Added: Customs and Border Protection, the Bureau of Industry and Security, the Department of Commerce, the Department of State, and the Office of Foreign Assets Control of the Treasury Department, as well as those of other nations in which we do business.
+Added: Our operations are also subject to various domestic and international privacy laws, including the European Union’s General Data Protection Regulation.
These laws and regulations, as well as the interpretation and application of these laws and regulations, are subject to change, and any such change may affect our ability to offer and sell existing and planned satellite communications products and services.
+Added: For more information, see “Risk Factors – Risks related to government regulation.”
KVH Team Demographics
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We had 397 team members as of December 31, 2022, including full-time employees, part-time employees, and long-term contractors.
−Removed: The figures in this section provide information as of December 31, 2021 and do not reflect the reduction in force that we implemented in March 2022, whereby we reduced our workforce by approximately 66 positions.
+Added: The figures in this section provide information as of December 31, 2022.
KVH Team Member Headcount
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KVH Team Member Headcount
+Added: Netherlands 1
South Africa 1
−Removed: United Arab Emirates 1
United Kingdom 65
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Among our 65 key executive leaders and most critical individual technology contributors, our turnover rate was 12% in 2022.
−Removed: As above, the figures in this section provide information as of December 31, 2021 and do not reflect our March 2022 reduction in force.
+Added: These turnover rates exclude the reductions related to the sales of our inertial navigation business and our media subsidiary, and also exclude the approximately 10% reduction in our workforce in connection with our March 2022 restructuring.
The average length of employee service is 9.5 years.
The continuity of our employee base is important to the success of our business, as our employees have deep knowledge of our products and are critical to the services that we provide to our customers.
−Removed: KVH surveys team member engagement annually.
−Removed: The annual survey standardizes how KVH measures engagement across our organization and affords us an opportunity to address areas for improvement.
+Added: KVH surveys team member engagement at least annually.
+Added: The survey standardizes how KVH measures engagement across our organization and affords us an opportunity to address areas for improvement.
By listening to employees, we gain a better understanding of what our employees need in order to succeed, enabling us to develop programs that create a stronger and more committed workforce.
Inclusion and Diversity
−Removed: KVH actively cultivates the diverse talents of our team and strives to recruit and maintain a diverse and inclusive workforce everywhere we operate, which we believe enables better business decisions, enhanced product development, and superior customer service.
+Added: KVH actively cultivates the diverse talents of our team and strives to recruit a diverse and inclusive workforce everywhere we operate.
+Added: We believe this enables better business decisions, enhanced product development, and superior customer service.
Our diversity and inclusion principles are also reflected in our employee training, in particular with respect to our policies against harassment in the workplace.
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We are committed to protecting the health and safety of our employees and others who enter any of our facilities, wherever located.
−Removed: In 2021, KVH’s OSHA total recordable incident rate was 1.43 which is favorable compared to the 2020 OSHA national average of 2.9.
+Added: In 2022, KVH’s Occupational Safety and Health Administration (OSHA) total recordable incident rate was 0.73% which is favorable compared to the 2022 OSHA national average of 2.9.
In 2020, we introduced a range of new safety protocols in our facilities in an effort to protect our employees and support appropriate health and safety protocols in response to COVID-19 and the global pandemic.
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As a consequence, we expend substantial working capital in advance of receipt of customer orders.
−Removed: Because of the large size of certain orders, we often incur significant receivables upon order fulfillment.
−Removed: Our leisure marine business within the mobile connectivity segment is highly seasonal, and seasonality can also impact our commercial marine business.
+Added: Our leisure marine business is highly seasonal, and seasonality can also impact our commercial marine business.
Historically, we have generated the majority of our marine leisure product revenues during the first and second quarters of each year, and these revenues typically decline in the third and fourth quarters of each year.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.