UCLOUDLINK GROUP INC. (“UCLOUDLINK” or the “Company”) (NASDAQ:
UCL), the world’s first and leading mobile data traffic sharing
marketplace, today announced its unaudited financial results for
the three months ended September 30, 2023.
Third Quarter 2023 Financial
Highlights
- Total
revenues were US$23.9 million, representing an increase of
31.0% from US$18.2 million in the third quarter of 2022.
- Gross
profit was US$12.2 million, representing an increase of
40.6% from US$8.7 million in the third quarter of 2022.
- Income from
operations was US$3.3 million, compared to a loss from
operations of US$4.8 million in the third quarter of 2022.
- Net
Income was US$3.5 million, compared to a net loss of
US$4.6 million in the third quarter of 2022.
- Adjusted
net income (non-GAAP) was US$3.8 million, compared to an
adjusted net income of US$0.6 million in the third quarter of
2022.
- Adjusted
EBITDA (non-GAAP) was US$4.1 million, compared to an
adjusted EBITDA of US$0.9 million in the third quarter of
2022.
Third Quarter 2023 Operational
Highlights
- Total data consumed
in the third quarter through the Company’s platform was 46,630
terabytes (6,964 terabytes procured by the Company and 39,666
terabytes procured by our business partners), representing an
increase of 0.9% from 46,234 terabytes in the third quarter of
2022.
- Average daily
active terminals in the third quarter were 325,078 (12,018 owned by
the Company and 313,060 owned by our business partners),
representing an increase of 9.3% from 297,501 in the third quarter
of 2022. 50.4% of daily active terminals were from uCloudlink 1.0
international data connectivity services and 49.6% of daily active
terminals were from uCloudlink 2.0 local data connectivity services
during the third quarter of 2023. Average daily data usage per
terminal was 1.56 GB in September 2023.
- As of September 30,
2023, the Company had served 2,539 business partners in 63
countries and regions. The Company had 181 patents with 145
approved and 36 pending approval, while the pool of SIM cards was
from 367 MNOs globally as of September 30, 2023.
Executive Commentary
Mr. Chaohui Chen, Director and Chief Executive
Officer of UCLOUDLINK, said, “We delivered another strong set of
results in the third quarter of 2023, posting a 31% year-over-year
increase in total revenues and a sixth consecutive quarter of
positive cash flow from operations. Revenues from our uCloudlink
1.0 business re-accelerated, driven primarily by the recovery of
international travel and the growth of our international data
connectivity services in major markets including Japan and mainland
China. While outbound travel from China remained soft during the
third quarter of 2023, Chinese who resumed overseas travel during
the peak summer holiday season increasingly chose to use our
Roamingman brand services and are accounting for a growing share of
our international data connectivity services. Taking advantage of
this opportunity, we launched a new GlocalMe SIM card and a GPS
tracker-enabled portable Wi-Fi terminal that we believe is the
smallest one in the world so far, on the market during this
quarter, as well as piloted an eSIM solution in October 2023. At
the same time, we enhanced the user experience and expanded our
user base, leveraging our competitive 5G roaming solutions and the
artificial intelligence-powered services feature embedded in one of
our portable Wi-Fi terminals. Our innovative portfolio of data
connectivity solutions continues to drive our improving financial
performance and has enabled us, together with our business
partners, to expand our market share and strengthen our market
position.”
Mr. Chen continued, “The strong rebound in data
connectivity services is fueling our continued expansion into new
application scenarios to support the long-term development of our
mobile data traffic sharing marketplace. We have successfully
expanded the daily life application scenarios that our GPS-enabled
portable Wi-Fi terminal can cater to, as we continue to roll out
additional upgrades and features. In the field of Internet of
Things (‘IoT’), we have also made significant progress in expanding
the number of third-party devices utilizing our cloud SIM
technology-powered IoT solutions in Japan during the quarter.
Looking ahead, the coming upgrades to our customer premises
equipment will unlock additional opportunities for us in the fixed
broadband space. In addition, we plan to launch various
hyper-connectivity solutions compatible with cloud SIM, soft SIM
and eSIM technologies. We are making solid progress in our
strategic transition from hyper-connectivity solutions towards a
diverse suite of PaaS and SaaS solutions that enables everyone to
enjoy a more intelligent and convenient life through our reliable
and high-quality data connections.”
Third Quarter 2023 Financial
Results
Revenues
Total Revenues were US$23.9 million,
representing an increase of 31.0% from US$18.2 million in the same
period of 2022.
- Revenues
from services were US$16.6 million, representing an
increase of 31.9% from US$12.6 million in the same period of 2022.
This increase was primarily attributable to the increase in
revenues from data connectivity services.
- Revenues
from data connectivity services were US$13.8 million,
representing an increase of 37.5% from US$10.1 million in the same
period of 2022. This increase was primarily attributable to (i) an
increase in revenues from international data connectivity services
to US$11.4 million in the third quarter of 2023 from US$8.0 million
in the same period of 2022, as the recovery of international travel
accelerated, and (ii) an increase in revenues from local data
connectivity services to US$2.4 million in the third quarter of
2023 from US$2.1 million in the same period of 2022, as the Company
continued to develop the local data connectivity services
business.
- Revenues
from PaaS and SaaS services were US$2.3 million,
representing a decrease of 2.0% from US$2.4 million in the same
period of 2022.
- Revenues
from sales of products were US$7.3 million, representing
an increase of 29.0% from US$5.6 million in the same period of
2022, primarily attributable to the increase in sales of
terminals.
- Geographic
Distribution
During the third quarter of 2023, as a
percentage of our total revenues, Japan contributed 44.2%, North
America contributed 26.3%, Mainland China contributed 17.2%, and
other countries and regions contributed the remaining 12.3%,
compared to 35.1%, 41.5%, 2.4% and 21.0%, respectively, in the same
period of 2022.
Cost of Revenues
Cost of revenues was US$11.7 million,
representing an increase of 22.3% from US$9.5 million in the same
period of 2022. This increase was generally in line with the growth
of our total revenues during the third quarter of 2023.
- Cost of
services was US$7.3 million, representing an increase of
38.0% from US$5.3 million in the same period of 2022.
- Cost of
products sold was US$4.4 million,
representing an increase of 2.6% from US$4.2 million in the same
period of 2022.
Gross Profit
Overall gross profit was US$12.2 million,
compared to US$8.7 million in the same period of 2022. Overall
gross margin was 51.2% in the third quarter of 2023, compared to
47.7% in the same period of 2022.
Gross profit on services was US$9.3 million,
compared to US$7.3 million in the same period of 2022. Gross margin
on services was 55.9% in the third quarter of 2023, compared to
57.9% in the same period of 2022.
Gross profit on sales of products was US$2.9
million, compared to US$1.4 million in the same period of 2022.
Gross margin on sales of products was 40.1% in the third quarter of
2023, compared to 24.7% in the same period of 2022.
Operating Expenses
Total operating expenses were US$9.2 million,
compared to US$7.9 million in the same period of 2022.
- Research
and development expenses were US$1.6 million, representing
an increase of 8.4% from US$1.5 million in the same period of 2022,
primarily due to an increase of US$0.3 million in staff costs,
which was partially offset by a decrease of US$0.1 million in
share-based compensation expenses.
- Sales and
marketing expenses were US$3.8 million, representing an
increase of 77.3% from US$2.1 million in the same period of 2022,
primarily due to an increase of US$1.3 million in promotional fees
and an increase of US$0.3 million in staff costs.
- General and
administrative expenses were US$3.8 million, representing
a decrease of 11.0% from US$4.3 million in the same period of 2022,
primarily attributable to a decrease of US$1.2 million in bad debt
provision, which was partially offset by an increase of US$0.6
million in staff costs.
Income/(Loss) from
Operations
Income from operations was US$3.3 million,
compared to a loss from operations of US$4.8 million in the same
period of 2022.
Adjusted EBITDA (Non-GAAP)
Adjusted EBITDA (Non-GAAP), which excludes the
impact of share-based compensation, fair value gain/loss in other
investments, share of profit/loss in equity method investment, net
of tax, interest expense, income tax expenses and depreciation and
amortization, was US$4.1 million, compared to US$0.9 million in the
same period of 2022.
Net Interest Expenses
Net interest expenses were US$0.01 million,
compared to net interest expenses of US$0.02 million in the same
period of 2022.
Net Income/(Loss)
Net income was US$3.5 million, compared to a net
loss of US$4.6 million in the same period of 2022.
Adjusted Net Income
(Non-GAAP)
Adjusted net income, which excludes the impact
of share-based compensation, fair value gain/loss in other
investments and share of profit/loss in equity method investment,
net of tax, was US$3.8 million, compared to an adjusted net income
of US$0.6 million in the same period of 2022.
Basic and Diluted Earnings/(Loss) per
ADS
Basic and diluted earnings per ADS attributable
to ordinary shareholders were US$0.09 in the third quarter of 2023,
compared to basic and diluted loss per ADS of US$0.15 in the same
period of 2022.
Cash and Cash Equivalents and Short-Term
Deposits
As of September 30, 2023, the Company had cash
and cash equivalents of US$20.3 million, compared to cash and cash
equivalents and short-term deposits of US$18.8 million as of June
30, 2023. This increase was primarily attributable to the net
inflow of US$2.8 million from operations and net proceeds of US$0.7
million from bank borrowings, which were partially offset by a
repayment of US$0.9 million for bank borrowings and an outflow of
US$0.8 million for procurement of property and equipment.
Capital Expenditures
(“CAPEX”)
CAPEX was US$0.8 million compared to US$0.1
million in the same period of 2022.
Business Outlook
For the fourth quarter of 2023, UCLOUDLINK
expects total revenues to be between US$22.0 million and US$26.2
million, representing an increase of 12.2% to 33.7% compared to the
same period of 2022.
The above outlook is based on current market
conditions and reflects the Company’s preliminary estimates of
market and operating conditions and customer demand. The global
outbreak of COVID-19, which had a severe and negative impact on the
global economy since the first quarter of 2020, presents continuous
and various global risks. We will continue to carefully monitor
COVID-19 related factors.
Non-GAAP Financial Measures
To supplement the financial measures prepared in
accordance with generally accepted accounting principles in the
United States, or GAAP, this press release presents, adjusted net
income/(loss) and adjusted EBITDA, as supplemental measures to
review and assess the Company’s operating performance. The
presentation of these non-GAAP financial measures is not intended
to be considered in isolation or as a substitute for the financial
information prepared and presented in accordance with U.S. GAAP.
Adjusted net income/(loss) is defined as net income/(loss)
excluding share-based compensation, fair value gain/loss in other
investments and share of profit/loss in equity method investment,
net of tax. Adjusted EBITDA is defined as net income/(loss)
excluding share-based compensation, fair value gain/loss in other
investments, share of profit/loss in equity method investment, net
of tax, interest expense, income tax expenses and depreciation and
amortization.
The Company believes that adjusted net
income/(loss) and adjusted EBITDA help identify underlying trends
in its business that could otherwise be distorted by the effect of
certain expenses that are included in income/(loss) from operations
and net income/(loss). The Company believes that adjusted net
income/(loss) and adjusted EBITDA provide useful information about
its operating results, enhance the overall understanding of its
past performance and future prospects and allow for greater
visibility with respect to key metrics used by its management in
its financial and operational decision-making.
The non-GAAP financial measures are not defined
under U.S. GAAP and are not presented in accordance with U.S. GAAP.
The non-GAAP financial measures have limitations as analytical
tools. One of the key limitations of using adjusted net
income/(loss) and adjusted EBITDA is that they do not reflect all
items of income and expense that affect the Company’s operations.
Share-based compensation, fair value gain/loss in other investments
and share of profit/loss in equity method investment, net of tax,
have been and may continue to be incurred in the Company’s business
and is not reflected in the presentation of adjusted net
income/(loss). Further, the non-GAAP financial measures may differ
from the non-GAAP information used by other companies, including
peer companies, and therefore their comparability may be
limited.
The Company compensate for these limitations by
reconciling the non-GAAP financial measure to the nearest U.S. GAAP
performance measure, all of which should be considered when
evaluating its performance. The Company encourages investors and
others to review its financial information in its entirety and not
rely on a single financial measure.
Reconciliation of each of these non-GAAP
financial measures to the most directly comparable GAAP financial
measure is set forth at the end of this release.
Conference Call
The Company will host a conference call to
discuss its financial results at 8:30 a.m. U.S. Eastern Time on
Wednesday, November 15, 2023 (9:30 p.m. Beijing Time on the same
day).
Listeners may access the call by dialing:
International: |
+1-412-902-4272 |
US (Toll Free): |
+1-888-346-8982 |
UK (Toll Free): |
0-800-279-9489 |
UK (Local Toll): |
0-207-544-1375 |
Mainland China (Toll Free): |
400-120-1203 |
Hong Kong (Toll Free): |
800-905-945 |
Hong Kong (Local Toll): |
+852-3018-4992 |
Singapore (Toll Free): |
800-120-6157 |
Australia (Toll Free): |
1-800-121301 |
Participants should dial in at least 10 minutes
before the scheduled start time and ask to be connected to the call
for “UCLOUDLINK GROUP INC.”
Additionally, a live and archived webcast of the
conference call will be available at https://ir.ucloudlink.com.
A telephone replay will be available one hour
after the end of the conference until November 15, 2024 by
dialing:
US (Toll Free): |
+1-877-344-7529 |
International: |
+1-412-317-0088 |
Canada (Toll Free): |
855-669-9658 |
Replay Passcode: |
4372380 |
About UCLOUDLINK GROUP INC.
UCLOUDLINK is the world’s first and leading
mobile data traffic sharing marketplace, pioneering the sharing
economy business model for the telecommunications industry. The
Company’s products and services deliver unique value propositions
to mobile data users, handset and smart-hardware companies, mobile
virtual network operators (MVNOs) and mobile network operators
(MNOs). Leveraging its innovative cloud SIM technology and
architecture, the Company has redefined the mobile data
connectivity experience by allowing users to gain access to mobile
data traffic allowance shared by network operators on its
marketplace, while providing reliable connectivity, high speeds and
competitive pricing.
Safe Harbor Statement
This announcement contains forward-looking
statements. These statements are made under the “safe harbor”
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements can be identified by
terminology such as “will,” “expects,” “anticipates,” “future,”
“intends,” “plans,” “believes,” “estimates,” “confident” and
similar statements. Among other things, the financial guidance and
quotations from management in this announcement, as well as
UCLOUDLINK’s strategic and operational plans, contain
forward-looking statements. UCLOUDLINK may also make written or
oral forward-looking statements in its periodic reports to the U.S.
Securities and Exchange Commission, in its annual report to
shareholders, in press releases and other written materials and in
oral statements made by its officers, directors or employees to
third parties. Statements that are not historical facts, including
but not limited to statements about UCLOUDLINK’s beliefs and
expectations, are forward-looking statements. Forward looking
statements involve inherent risks and uncertainties. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement, including but not
limited to the following: UCLOUDLINK’s strategies; UCLOUDLINK’s
future business development, financial condition and results of
operations; UCLOUDLINK’s ability to increase its user base and
usage of its mobile data connectivity services, and improve
operational efficiency; competition in the global mobile data
connectivity service industry; changes in UCLOUDLINK’s revenues,
costs or expenditures; governmental policies and regulations
relating to the global mobile data connectivity service industry,
general economic and business conditions globally and in China; the
impact of the COVID-19 pandemic to UCLOUDLINK’s business operations
and the economy in China and elsewhere generally; and assumptions
underlying or related to any of the foregoing. Further information
regarding these and other risks is included in the Company’s
filings with the Securities and Exchange Commission. All
information provided in this press release and in the attachments
is as of the date of the press release, and UCLOUDLINK undertakes
no duty to update such information, except as required under
applicable law.
For more information, please
contact:
UCLOUDLINK GROUP INC. |
Jillian Zeng |
Tel: +852-2180-6111 |
E-mail: ir@ucloudlink.com |
|
Investor Relations: |
Christensen Advisory |
Jacob Schindler, Assistant Vice President |
Tel: +852 2117 0861 |
E-mail: jacob.schindler@christensencomms.com |
|
UCLOUDLINK GROUP INC.UNAUDITED
CONSOLIDATED BALANCE SHEETS (In thousands of US$,
except for share and per share data) |
|
|
As of December 31, |
|
As of September 30, |
|
2022 |
|
2023 |
ASSETS |
|
|
|
|
|
Current assets |
|
|
|
|
|
Cash and cash equivalents |
|
14,921 |
|
|
|
20,256 |
|
Short-term deposit |
|
197 |
|
|
|
- |
|
Accounts receivable, net |
|
5,961 |
|
|
|
7,416 |
|
Inventories |
|
3,624 |
|
|
|
2,383 |
|
Prepayments and other current assets |
|
4,255 |
|
|
|
5,182 |
|
Other investments |
|
11,690 |
|
|
|
6,946 |
|
Amounts due from related parties |
|
698 |
|
|
|
2,413 |
|
Total current assets |
|
41,346 |
|
|
|
44,596 |
|
Non-current assets |
|
|
|
|
|
Prepayments |
|
688 |
|
|
|
344 |
|
Long-term investments |
|
1,711 |
|
|
|
1,906 |
|
Other investments |
|
- |
|
|
|
4,471 |
|
Property and equipment, net |
|
1,181 |
|
|
|
2,386 |
|
Right-of-use assets, net |
|
206 |
|
|
|
1,863 |
|
Intangible assets, net |
|
802 |
|
|
|
677 |
|
Total non-current assets |
|
4,588 |
|
|
|
11,647 |
|
TOTAL ASSETS |
|
45,934 |
|
|
|
56,243 |
|
|
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
Current liabilities |
|
|
|
|
|
Short term borrowings |
|
2,876 |
|
|
|
2,396 |
|
Accrued expenses and other liabilities |
|
24,014 |
|
|
|
23,015 |
|
Accounts payable |
|
6,832 |
|
|
|
8,603 |
|
Amounts due to related parties |
|
1,481 |
|
|
|
1,320 |
|
Contract liabilities |
|
1,052 |
|
|
|
946 |
|
Lease liabilities |
|
184 |
|
|
|
811 |
|
Total current liabilities |
|
36,439 |
|
|
|
37,091 |
|
Non-current liabilities |
|
|
|
|
|
Lease liabilities |
|
- |
|
|
|
1,045 |
|
Other non-current liabilities |
|
204 |
|
|
|
160 |
|
Total non-current liabilities |
|
204 |
|
|
|
1,205 |
|
TOTAL LIABILITIES |
|
36,643 |
|
|
|
38,296 |
|
|
|
|
|
|
|
SHAREHOLDERS’ EQUITY |
|
|
|
|
|
Class A ordinary shares |
|
12 |
|
|
|
12 |
|
Class B ordinary shares |
|
6 |
|
|
|
6 |
|
Additional paid-in capital |
|
236,774 |
|
|
|
239,677 |
|
Accumulated other comprehensive income |
|
1,876 |
|
|
|
2,987 |
|
Accumulated losses |
|
(229,377 |
) |
|
|
(224,735 |
) |
TOTAL SHAREHOLDERS’ EQUITY |
|
9,291 |
|
|
|
17,947 |
|
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY |
|
45,934 |
|
|
|
56,243 |
|
|
UCLOUDLINK GROUP INC.UNAUDITED
CONSOLIDATED STATEMENTS OF COMPREHENSIVE
(LOSS)/INCOME(In thousands of US$, except for
share and per share data) |
|
|
For the three months ended |
|
For the nine months ended |
|
September 30,2022 |
|
September 30,2023 |
|
September 30,2022 |
|
September 30,2023 |
Revenues |
|
18,213 |
|
|
|
23,863 |
|
|
|
51,850 |
|
|
|
63,846 |
|
Revenues from services |
|
12,608 |
|
|
|
16,631 |
|
|
|
33,692 |
|
|
|
43,643 |
|
Sales of products |
|
5,605 |
|
|
|
7,232 |
|
|
|
18,158 |
|
|
|
20,203 |
|
Cost of revenues |
|
(9,531 |
) |
|
|
(11,656 |
) |
|
|
(29,378 |
) |
|
|
(33,173 |
) |
Cost of services |
|
(5,309 |
) |
|
|
(7,326 |
) |
|
|
(15,256 |
) |
|
|
(18,355 |
) |
Cost of products sold |
|
(4,222 |
) |
|
|
(4,330 |
) |
|
|
(14,122 |
) |
|
|
(14,818 |
) |
Gross profit |
|
8,682 |
|
|
|
12,207 |
|
|
|
22,472 |
|
|
|
30,673 |
|
Research and development expenses |
|
(1,476 |
) |
|
|
(1,600 |
) |
|
|
(6,577 |
) |
|
|
(4,457 |
) |
Sales and marketing expenses |
|
(2,135 |
) |
|
|
(3,786 |
) |
|
|
(7,425 |
) |
|
|
(10,223 |
) |
General and administrative expenses |
|
(4,295 |
) |
|
|
(3,824 |
) |
|
|
(12,283 |
) |
|
|
(11,125 |
) |
Other (expense)/income, net |
|
(5,523 |
) |
|
|
322 |
|
|
|
(14,299 |
) |
|
|
(423 |
) |
(Loss)/income from operations |
|
(4,747 |
) |
|
|
3,319 |
|
|
|
(18,112 |
) |
|
|
4,445 |
|
Interest income |
|
3 |
|
|
|
12 |
|
|
|
8 |
|
|
|
36 |
|
Interest expenses |
|
(27 |
) |
|
|
(25 |
) |
|
|
(373 |
) |
|
|
(105 |
) |
Amortization of beneficial conversion feature |
|
220 |
|
|
|
- |
|
|
|
(236 |
) |
|
|
- |
|
(Loss)/income before income tax |
|
(4,551 |
) |
|
|
3,306 |
|
|
|
(18,713 |
) |
|
|
4,376 |
|
Income tax expense |
|
(39 |
) |
|
|
(23 |
) |
|
|
(158 |
) |
|
|
(67 |
) |
Share of (loss)/profit in equity method investment, net of tax |
|
(6 |
) |
|
|
202 |
|
|
|
71 |
|
|
|
333 |
|
Net (loss)/income |
|
(4,596 |
) |
|
|
3,485 |
|
|
|
(18,800 |
) |
|
|
4,642 |
|
Attributable to: |
|
|
|
|
|
|
|
|
|
|
|
Equity holders of the Company |
|
(4,596 |
) |
|
|
3,485 |
|
|
|
(18,800 |
) |
|
|
4,642 |
|
|
|
|
|
|
|
|
|
|
|
|
|
(Loss)/earnings per share for Class A and Class B ordinary
shares |
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
(0.02 |
) |
|
|
0.01 |
|
|
|
(0.06 |
) |
|
|
0.01 |
|
Diluted |
|
(0.02 |
) |
|
|
0.01 |
|
|
|
(0.06 |
) |
|
|
0.01 |
|
|
|
|
|
|
|
|
|
|
|
|
|
(Loss)/earnings per ADS (10 Class A shares equal to 1 ADS) |
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
(0.15 |
) |
|
|
0.09 |
|
|
|
(0.64 |
) |
|
|
0.13 |
|
Diluted |
|
(0.15 |
) |
|
|
0.09 |
|
|
|
(0.64 |
) |
|
|
0.13 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares used in loss per Class A and Class B ordinary share
computation: |
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
305,261,095 |
|
|
|
372,334,114 |
|
|
|
294,781,350 |
|
|
|
370,796,417 |
|
Diluted |
|
305,261,095 |
|
|
|
372,334,114 |
|
|
|
294,781,350 |
|
|
|
370,796,417 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net (loss)/income |
|
(4,596 |
) |
|
|
3,485 |
|
|
|
(18,800 |
) |
|
|
4,642 |
|
Other comprehensive income/(loss), net of tax |
|
|
|
|
|
|
|
|
|
|
|
Foreign currency translation adjustment |
|
2,003 |
|
|
|
(200 |
) |
|
|
3,835 |
|
|
|
1,111 |
|
Total comprehensive (loss)/income |
|
(2,593 |
) |
|
|
3,285 |
|
|
|
(14,965 |
) |
|
|
5,753 |
|
|
UCLOUDLINK GROUP INC.UNAUDITED CONDENSED
CONSOLIDATED STATEMENTS OF CASH FLOWS (In
thousands of US$) |
|
|
For the three months ended |
|
For the nine months ended |
|
September 30,2022 |
|
September 30,2023 |
|
September 30,2022 |
|
September 30,2023 |
Net cash generated from/(used in) operating activities |
|
1,183 |
|
|
|
2,765 |
|
|
|
(793 |
) |
|
|
7,820 |
|
Net cash used in investing activities |
|
(69 |
) |
|
|
(834 |
) |
|
|
(248 |
) |
|
|
(1,511 |
) |
Net cash (used in)/generated from financing activities |
|
(398 |
) |
|
|
(252 |
) |
|
|
6,604 |
|
|
|
(394 |
) |
Increase in cash and cash equivalents |
|
716 |
|
|
|
1,679 |
|
|
|
5,563 |
|
|
|
5,915 |
|
Cash and cash equivalents at beginning of the period |
|
11,985 |
|
|
|
18,628 |
|
|
|
7,868 |
|
|
|
14,921 |
|
Effect of exchange rates on cash and cash equivalents |
|
(353 |
) |
|
|
(51 |
) |
|
|
(1,083 |
) |
|
|
(580 |
) |
Cash and cash equivalents at end of the
period |
|
12,348 |
|
|
|
20,256 |
|
|
|
12,348 |
|
|
|
20,256 |
|
|
UCLOUDLINK GROUP INC.UNAUDITED
RECONCILIATIONS OF NON-GAAP AND GAAP RESULTS (In
thousands of US$) |
|
|
For the three months ended |
|
For the nine months ended |
|
September 30,2022 |
|
September 30,2023 |
|
September 30,2022 |
|
September 30,2023 |
Reconciliation of Net (Loss)/Income to Adjusted Net
(Loss)/Income |
|
|
|
|
|
|
|
|
|
|
|
Net (loss)/income |
|
(4,596 |
) |
|
|
3,485 |
|
|
|
(18,800 |
) |
|
|
4,642 |
|
Add: share-based compensation |
|
600 |
|
|
|
520 |
|
|
|
2,311 |
|
|
|
2,854 |
|
fair value loss/(gain) in other investments |
|
4,627 |
|
|
|
(12 |
) |
|
|
11,358 |
|
|
|
272 |
|
Less: share of loss/(profit) in equity method investment, net of
tax |
|
6 |
|
|
|
(202 |
) |
|
|
(71 |
) |
|
|
(333 |
) |
Adjusted net income/(loss) |
|
637 |
|
|
|
3,791 |
|
|
|
(5,202 |
) |
|
|
7,435 |
|
|
For the three months ended |
|
For the nine months ended |
|
September 30,2022 |
|
September 30,2023 |
|
September 30,2022 |
|
September 30,2023 |
Reconciliation of Net (Loss)/Income to Adjusted
EBITDA |
|
|
|
|
|
|
|
|
|
|
|
Net (loss)/income |
|
(4,596 |
) |
|
|
3,485 |
|
|
|
(18,800 |
) |
|
|
4,642 |
|
Add: |
|
|
|
|
|
|
|
|
|
|
|
Interest expense |
|
27 |
|
|
|
25 |
|
|
|
373 |
|
|
|
105 |
|
Income tax expense |
|
39 |
|
|
|
23 |
|
|
|
158 |
|
|
|
67 |
|
Depreciation and amortization |
|
241 |
|
|
|
303 |
|
|
|
763 |
|
|
|
750 |
|
EBITDA |
|
(4,289 |
) |
|
|
3,836 |
|
|
|
(17,506 |
) |
|
|
5,564 |
|
Add: share-based compensation |
|
600 |
|
|
|
520 |
|
|
|
2,311 |
|
|
|
2,854 |
|
fair value loss/(gain) in other investments |
|
4,627 |
|
|
|
(12 |
) |
|
|
11,358 |
|
|
|
272 |
|
Less: share of loss/(profit) in equity method investment, net of
tax |
|
6 |
|
|
|
(202 |
) |
|
|
(71 |
) |
|
|
(333 |
) |
Adjusted EBITDA |
|
944 |
|
|
|
4,142 |
|
|
|
(3,908 |
) |
|
|
8,357 |
|
uCloudlink (NASDAQ:UCL)
Gráfica de Acción Histórica
De Abr 2024 a May 2024
uCloudlink (NASDAQ:UCL)
Gráfica de Acción Histórica
De May 2023 a May 2024