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 March 31, 2024.
First Quarter 2024 Financial
Highlights
- Total
revenues were US$18.1 million, representing an increase of
0.7% from US$18.0 million in the first quarter of 2023.
- Gross
profit was US$10.0 million, representing an increase of
16.3% from US$8.6 million in the first quarter of 2023.
- Income from
operations was US$0.5 million, compared to US$2.1 million
in the first quarter of 2023.
- Net
income was US$0.4 million, compared to US$2.1 million in
the first quarter of 2023.
- Adjusted
net income (non-GAAP) was US$1.3 million, compared to
US$1.8 million in the first quarter of 2023.
-
Adjusted EBITDA (non-GAAP) was US$1.7 million,
compared to US$2.1 million in the first quarter of 2023.
First Quarter 2024 Operational
Highlights
- Total data consumed
in the first quarter through the Company’s platform was 43,208
terabytes (5,257 terabytes procured by the Company and 37,951
terabytes procured by our business partners), representing a
decrease of 1.7% from 43,936 terabytes in the first quarter of
2023.
- Average daily
active terminals in the first quarter were 309,906 (13,622 owned by
the Company and 296,284 owned by our business partners),
representing an increase of 1.9% from 304,121 in the first quarter
of 2023. As a proportion of daily active terminals, 57.9% were from
uCloudlink 1.0 international data connectivity services and 42.1%
were from uCloudlink 2.0 local data connectivity services during
the first quarter of 2024. Average daily data usage per terminal
was 1.56 GB in March 2024.
- As of March 31,
2024, the Company had served 2,595 business partners in 61
countries and regions. The Company had 178 patents with 141
approved and 37 pending approval, while the pool of SIM cards was
from 382 MNOs globally as of March 31, 2024.
Executive Commentary
Mr. Chaohui Chen, Director and Chief Executive
Officer of UCLOUDLINK, said, “We had a promising start to the year
with total revenues of US$18.1 million during the first quarter,
which were in line with our guidance. Growth was primarily driven
by the continuous recovery of our 1.0 international data
connectivity services business, and in particular our Roamingman
brand services, which we believe will continue to rebound strongly.
With 5G roaming network coverage expanding from 55 to 60 countries
and regions, our full-speed 5G network roaming solution further
solidified our leading position in this sector and helped expand
our market share. With our business now healthy and back on a
growth trajectory, we maintained the profitability we regained last
year, achieving a net income of US$0.4 million and generating a net
operating cash inflow of US$1.9 million in the first quarter of
2024.”
“We also made significant progress in rolling
out an expanded array of comprehensive data connectivity solutions
during the quarter to explore opportunities beyond portable Wi-Fi
terminals. Recent progress includes the showcasing of our customer
premises equipment through GlocalMe mobile/fixed broadband
solutions, which provides a highly reliable dual broadband
connection. In addition, we soft-launched a smart tracker through
our GlocalMe Life solutions, which offers far more accurate and
reliable tracking, something that other similar tag or tracker
products on the market are unable to do. By offering more
intelligent and convenient daily life products that satisfy a wide
range of user needs, we are expanding our market reach and
establishing a broader market presence to diversify our revenue
streams and generate long-term sustainable growth. Furthermore, our
newly launched GlocalMe SIM has made solid progress during the
quarter, ranking high on a number of e-commerce platforms for
travelers heading to destinations such as Japan and Hong Kong.”
“Looking ahead, we have a number of exciting
products in the pipeline, which will further strengthen our
business. We completed testing our soft cloud SIM technology for
consumer IoT devices, which we expect to begin commercializing in
the near future. Specifically designed for consumer IoT devices
that already have a massive end user base, such as walkie talkies,
security cameras, and two-wheeled electric scooters, this turnkey
solution is compatible with various chipset platforms and is
expected to create significant growth opportunities for us.
GlocalMe SIM solutions, including our over-the-air (OTA) SIM and
eSIM solutions, will continue to evolve into our innovative “All
SIM” solution, allowing us to engage with a broader end user base
beyond those in the portable Wi-Fi terminal market. Additionally,
GlocalMe Life has an exciting slate of “Easy Life” X series
products under development, which will bring seamless connectivity
into various high-frequency daily life application scenarios and
are expected to begin generating revenues starting in the third
quarter of this year. We will unveil three GlocalMe Life products
and upgraded GlocalMe App on May 23 at Viva Technology 2024 in
Paris. We believe these solutions will allow us to engage with a
broader end user base by leveraging our cloud SIM and
hyper-connectivity technologies, and ultimately build out our
broader GlocalMe ecosystem and global leading mobile data traffic
sharing marketplace.”
First Quarter 2024 Financial
Results
Revenues
Total Revenues were US$18.1 million,
representing an increase of 0.7% from US$18.0 million in the same
period of 2023.
- Revenues
from services were US$13.5 million, representing an
increase of 4.8% from US$12.9 million in the same period of 2023.
This increase was primarily attributable to the increase in
revenues from international data connectivity services.
- Revenues
from data connectivity services were US$10.7 million,
representing an increase of 6.9% from US$10.0 million in the same
period of 2023. This increase was primarily attributable to an
increase in revenues from international data connectivity services
to US$9.0 million in the first quarter of 2024 from US$7.8 million
in the same period of 2023, as the recovery of international travel
accelerated, which was partially offset by a decrease in revenues
from local data connectivity services to US$1.7 million in the
first quarter of 2024 from US$2.2 million in the same period of
2023.
- Revenues
from PaaS and SaaS services were US$2.64 million,
representing an increase of 3.4% from US$2.56 million in the same
period of 2023.
- Revenues
from sales of products were US$4.6 million, representing a
decrease of 9.8% from US$5.1 million in the same period of 2023,
primarily due to a decrease in sales of terminals.
- Geographic
DistributionDuring the first quarter of 2024, as a
percentage of our total revenues, Japan contributed 40.9%, North
America contributed 16.8%, Mainland China contributed 25.3% and
other countries and regions contributed the remaining 17.0%,
compared to 43.1%, 33.6%, 5.1% and 18.2%, respectively, in the
first quarter of 2023.
Cost of Revenues
Cost of revenues was US$8.1 million,
representing a decrease of 13.6% from US$9.4 million in the same
period of 2023. This decrease was attributable to the decrease in
both cost of services and cost of products sold.
- Cost of
services was US$4.7 million, representing a decrease of
7.1% from US$5.1 million in the same period of 2023. This decrease
was attributable to the rising proportion of revenues from
international data connectivity services which generate higher
gross margins.
- Cost of
products sold was US$3.4 million,
representing a decrease of 21.3% from US$4.3 million in the same
period of 2023. This decrease was mainly attributable to product
mix.
Gross Profit
Overall gross profit was US$10.0 million,
compared to US$8.6 million in the same period of 2023. Overall
gross margin was 55.2% in the first quarter of 2024, compared to
47.8% in the same period of 2023.
Gross profit on services was US$8.8 million,
compared to US$7.8 million in the same period of 2023. Gross margin
on services was 65.0% in the first quarter of 2024, compared to
60.5% in the same period of 2023.
Gross profit on sales of products was US$1.2
million, compared to US$0.8 million in the same period of 2023.
Gross margin on sales of products was 26.2% in the first quarter of
2024, compared to 15.5% in the same period of 2023.
Operating Expenses
Total operating expenses were US$9.0 million,
compared to US$7.6 million in the same period of 2023.
- Research
and development expenses were US$1.5 million, representing
an increase of 13.4% from US$1.3 million in the same period of
2023. This increase was primarily due to an increase of US$0.1
million in share-based compensation expenses.
- Sales and
marketing expenses were US$4.1 million, representing an
increase of 38.7% from US$2.9 million in the same period of 2023.
This increase was primarily due to increases of US$0.7 million in
promotion expenses, US$0.3 million in operating lease payments and
US$0.3 million in employee benefit expenses.
- General and
administrative expenses were US$3.40 million, representing
a decrease of 1.3% from US$3.44 million in the same period of 2023.
This decrease was primarily attributable to a decrease of US$0.3
million in share-based compensation expenses, which was partially
offset by an increase of US$0.3 million in other employee benefit
expenses.
Income from Operations
Income from operations was US$0.5 million,
compared to an income from operations of US$2.1 million in the same
period of 2023.
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$1.7 million, compared to US$2.1 million in the
same period of 2023.
Net Interest Expenses
Net interest expenses were US$0.04 million,
compared to net interest expenses of US$0.04 million in the same
period of 2023.
Net Income
Net income was US$0.4 million, compared to a net
income of US$2.1 million in the same period of 2023.
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$1.3 million, compared to an adjusted net income
of US$1.8 million in the same period of 2023.
Basic and Diluted Earnings per
ADS
Basic and diluted earnings per ADS attributable
to ordinary shareholders were US$0.01 in the first quarter of 2024,
compared to basic and diluted earnings per ADS of US$0.06 in the
same period of 2023.
Cash and Cash Equivalents
As of March 31, 2024, the Company had cash and
cash equivalents of US$24.7 million, compared to US$23.4 million as
of December 31, 2023. The increase was primarily attributable to a
net inflow of US$1.9 million from operations and proceeds of US$0.3
million from bank borrowings, which were partially offset by US$0.6
million in capital expenditure and repayments of US$0.1 million for
bank borrowings.
Capital Expenditures
(“CAPEX”)
CAPEX was US$0.6 million compared to US$0.4
million in the same period of 2023.
Business Outlook
For the second quarter of 2024, UCLOUDLINK
expects total revenues to be between US$22.0 million and US$24.0
million, representing an increase of 0.1% to 9.2% compared to the
same period of 2023.
The above outlook is based on current market
conditions and reflects the Company’s preliminary estimates of
market and operating conditions and customer demand.
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
UCLOUDLINK will hold a conference call at 8:30
a.m. Eastern Time on Wednesday, May 15, 2024 (8:30 p.m. Beijing
Time on the same day) to discuss financial results and answer
questions from investors and analysts. 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 hours
after the end of the conference until May 22, 2024 by dialing:
|
US (Toll Free): |
+1-877-344-7529 |
|
International: |
+1-412-317-0088 |
|
Canada (Toll Free): |
855-669-9658 |
|
Replay Passcode: |
1173516 |
|
|
|
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. |
|
Liam Xie |
|
Tel: +852-2180-6111 |
|
E-mail: ir@ucloudlink.com |
|
|
|
Investor Relations: |
|
Christensen Advisory |
|
Christian Arnell, Managing Director |
|
Tel: +852-2117-0861 |
|
E-mail: ucloudlink@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 March 31, |
|
|
2023 |
|
|
2024 |
|
ASSETS |
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
Cash and cash equivalents |
|
23,371 |
|
|
|
|
24,704 |
|
|
Accounts receivable, net |
|
6,489 |
|
|
|
|
6,172 |
|
|
Inventories |
|
2,183 |
|
|
|
|
2,642 |
|
|
Prepayments and other current assets |
|
6,416 |
|
|
|
|
6,491 |
|
|
Other investments |
|
7,613 |
|
|
|
|
7,211 |
|
|
Amounts due from related parties |
|
2,945 |
|
|
|
|
1,343 |
|
|
Total current assets |
|
49,017 |
|
|
|
|
48,563 |
|
|
Non-current assets |
|
|
|
|
|
|
|
Prepayments |
|
228 |
|
|
|
|
114 |
|
|
Long-term investments |
|
1,956 |
|
|
|
|
1,936 |
|
|
Property and equipment, net |
|
2,433 |
|
|
|
|
2,707 |
|
|
Right-of-use assets, net |
|
2,321 |
|
|
|
|
2,011 |
|
|
Intangible assets, net |
|
652 |
|
|
|
|
616 |
|
|
Total non-current assets |
|
7,590 |
|
|
|
|
7,384 |
|
|
TOTAL ASSETS |
|
56,607 |
|
|
|
|
55,947 |
|
|
|
|
|
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
|
|
Current liabilities |
|
|
|
|
|
|
|
Short term borrowings |
|
5,297 |
|
|
|
|
5,468 |
|
|
Accrued expenses and other liabilities |
|
24,755 |
|
|
|
|
23,741 |
|
|
Accounts payable |
|
5,314 |
|
|
|
|
4,536 |
|
|
Amounts due to related parties |
|
1,250 |
|
|
|
|
1,025 |
|
|
Contract liabilities |
|
1,425 |
|
|
|
|
1,849 |
|
|
Operating lease liabilities |
|
1,082 |
|
|
|
|
1,052 |
|
|
Total current liabilities |
|
39,123 |
|
|
|
|
37,671 |
|
|
Non-current liabilities |
|
|
|
|
|
|
|
Operating lease liabilities |
|
1,286 |
|
|
|
|
1,015 |
|
|
Other non-current liabilities |
|
145 |
|
|
|
|
131 |
|
|
Total non-current liabilities |
|
1,431 |
|
|
|
|
1,146 |
|
|
TOTAL LIABILITIES |
|
40,554 |
|
|
|
|
38,817 |
|
|
|
|
|
|
|
|
|
|
SHAREHOLDERS’ EQUITY |
|
|
|
|
|
|
|
Class A ordinary shares |
|
13 |
|
|
|
|
13 |
|
|
Class B ordinary shares |
|
6 |
|
|
|
|
6 |
|
|
Additional paid-in capital |
|
240,137 |
|
|
|
|
240,566 |
|
|
Accumulated other comprehensive income |
|
2,463 |
|
|
|
|
2,681 |
|
|
Accumulated losses |
|
(226,566 |
) |
|
|
|
(226,136 |
) |
|
TOTAL SHAREHOLDERS’ EQUITY |
|
16,053 |
|
|
|
|
17,130 |
|
|
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY |
|
56,607 |
|
|
|
|
55,947 |
|
|
|
|
|
|
|
|
|
|
|
|
UCLOUDLINK GROUP INC.UNAUDITED
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME(In
thousands of US$, except for share and per share
data) |
|
|
|
|
For the three months ended |
|
|
March 31,2023 |
|
|
March 31,2024 |
|
Revenues |
18,006 |
|
|
|
|
18,128 |
|
|
Revenues from services |
12,916 |
|
|
|
|
13,537 |
|
|
Sales of products |
5,090 |
|
|
|
|
4,591 |
|
|
Cost of revenues |
(9,405 |
) |
|
|
|
(8,125 |
) |
|
Cost of services |
(5,102 |
) |
|
|
|
(4,739 |
) |
|
Cost of products sold |
(4,303 |
) |
|
|
|
(3,386 |
) |
|
Gross profit |
8,601 |
|
|
|
|
10,003 |
|
|
Research and development expenses |
(1,303 |
) |
|
|
|
(1,477 |
) |
|
Sales and marketing expenses |
(2,921 |
) |
|
|
|
(4,050 |
) |
|
General and administrative expenses |
(3,435 |
) |
|
|
|
(3,389 |
) |
|
Other income/(expense), net |
1,121 |
|
|
|
|
(576 |
) |
|
Income from operations |
2,063 |
|
|
|
|
511 |
|
|
Interest income |
5 |
|
|
|
|
13 |
|
|
Interest expenses |
(49 |
) |
|
|
|
(56 |
) |
|
Income before income tax |
2,019 |
|
|
|
|
468 |
|
|
Income tax expenses |
(13 |
) |
|
|
|
(21 |
) |
|
Share of profit/(loss) in equity method investment, net of tax |
68 |
|
|
|
|
(17 |
) |
|
Net income |
2,074 |
|
|
|
|
430 |
|
|
Attributable to: |
|
|
|
|
|
|
Equity holders of the Company |
2,074 |
|
|
|
|
430 |
|
|
|
|
|
|
|
|
|
Earnings per share for Class A and Class B ordinary shares |
|
|
|
|
|
|
Basic |
0.01 |
|
|
|
|
0.00 |
|
|
Diluted |
0.01 |
|
|
|
|
0.00 |
|
|
|
|
|
|
|
|
|
Earnings per ADS (10 Class A shares equal to 1 ADS) |
|
|
|
|
|
|
Basic |
0.06 |
|
|
|
|
0.01 |
|
|
Diluted |
0.06 |
|
|
|
|
0.01 |
|
|
|
|
|
|
|
|
|
Shares used in earnings per Class A and Class B ordinary share
computation: |
|
|
|
|
|
|
Basic |
369,438,171 |
|
|
|
|
374,771,808 |
|
|
Diluted |
369,438,171 |
|
|
|
|
374,771,808 |
|
|
|
|
|
|
|
|
|
Net income |
2,074 |
|
|
|
|
430 |
|
|
Other comprehensive income, net of tax |
|
|
|
|
|
|
Foreign currency translation adjustment |
224 |
|
|
|
|
218 |
|
|
Total comprehensive income |
2,298 |
|
|
|
|
648 |
|
|
|
|
|
|
|
|
|
|
|
UCLOUDLINK GROUP INC.UNAUDITED CONDENSED
CONSOLIDATED STATEMENTS OF CASH FLOWS (In
thousands of US$) |
|
|
|
|
For the three months ended |
|
|
March 31,2023 |
|
|
March 31,2024 |
|
Net cash generated from operating activities |
|
1,644 |
|
|
|
|
1,939 |
|
|
Net cash used in investing activities |
|
(302 |
) |
|
|
|
(587 |
) |
|
Net cash generated from financing activities |
|
197 |
|
|
|
|
180 |
|
|
Increase in cash, cash equivalents |
|
1,539 |
|
|
|
|
1,532 |
|
|
Cash, cash equivalents at beginning of the period |
|
14,921 |
|
|
|
|
23,371 |
|
|
Effect of exchange rates on cash, cash equivalents |
|
64 |
|
|
|
|
(199 |
) |
|
Cash, cash equivalents at end of the period |
|
16,524 |
|
|
|
|
24,704 |
|
|
|
|
|
|
|
|
|
|
|
|
UCLOUDLINK GROUP INC.UNAUDITED
RECONCILIATIONS OF NON-GAAP AND GAAP RESULTS (In
thousands of US$) |
|
|
|
|
For the three months ended |
|
|
March 31,2023 |
|
|
March 31,2024 |
|
Reconciliation of Net Income to Adjusted Net
Income |
|
|
|
|
|
|
|
Net income |
|
2,074 |
|
|
|
|
430 |
|
Add: share-based compensation |
|
733 |
|
|
|
|
429 |
|
fair value (gain)/loss in other investments |
|
(931 |
) |
|
|
|
401 |
|
Less: share of (profit)/loss in equity method investment, net of
tax |
|
(68 |
) |
|
|
|
17 |
|
Adjusted net income |
|
1,808 |
|
|
|
|
1,277 |
|
|
|
|
|
|
|
|
|
|
|
For the three months ended |
|
|
March 31,2023 |
|
|
March 31,2024 |
|
Reconciliation of Net Income to Adjusted
EBITDA |
|
|
|
|
|
|
|
Net income |
|
2,074 |
|
|
|
|
430 |
|
Add: |
|
|
|
|
|
|
|
Interest expense |
|
49 |
|
|
|
|
56 |
|
Income tax expenses |
|
13 |
|
|
|
|
21 |
|
Depreciation and amortization |
|
208 |
|
|
|
|
385 |
|
EBITDA |
|
2,344 |
|
|
|
|
892 |
|
Add: share-based compensation |
|
733 |
|
|
|
|
429 |
|
fair value (gain)/loss in other investments |
|
(931 |
) |
|
|
|
401 |
|
Less: share of (profit)/loss in equity method investment, net of
tax |
|
(68 |
) |
|
|
|
17 |
|
Adjusted EBITDA |
|
2,078 |
|
|
|
|
1,739 |
|
|
|
|
|
|
|
|
|
uCloudlink (NASDAQ:UCL)
過去 株価チャート
から 10 2024 まで 11 2024
uCloudlink (NASDAQ:UCL)
過去 株価チャート
から 11 2023 まで 11 2024
