KVH Industries provides satellite connectivity services to vessels at sea, primarily commercial maritime fleets and leisure boaters. KVH's core product is airtime — subscription-based Internet and VoIP connectivity delivered via satellite — which accounts for roughly 82% of net sales. KVH operates as an authorized Tier 1 reseller of Starlink and Eutelsat OneWeb LEO satellite services, while also running its own legacy GEO Ku-band VSAT network. KVH pitches a "hybrid" approach under the KVH ONE brand, combining LEO satellite (for speed and cost) with legacy VSAT (for redundancy and global coverage), managed through a single platform. KVH sells to commercial fleet operators through its AgilePlans CaaS model, where KVH retains hardware ownership and charges a single monthly fee covering equipment, installation, airtime, and support. KVH makes money primarily on the spread between what it charges subscribers and what it pays satellite operators for bandwidth. KVH ended FY25 with just over 9,000 vessels under contract. The company is winding down its own hardware manufacturing and treating terminal sales as a near-breakeven enabler of recurring airtime revenue. A smaller business, KVH Media Group, sells licensed entertainment content to commercial vessels and accounts for roughly 4% of net sales. KVH's growth strategy centers on expanding its LEO subscriber base and building out vessel-based managed IT services — covering network management and cybersecurity — under its CommBox Edge product, where KVH surpassed 1,000 subscribers in FY25.