NASDAQ : UCL
uCloudlink Group Inc. — Financial statements
Communication Services · Telecom Services · Hong Kong
Last price 0.2026 USD (Oct 30, 2026, 4:00 PM EST) · Market cap 7.72M
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Financial statements
uCloudlink Group Inc. (UCL) reported revenue of 78.42M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 78.42M | 81.45M | 91.64M | 85.58M | 71.46M | 73.82M |
| Cost of Revenue | 38.22M | 38.77M | 47.27M | 43.61M | 38.93M | 51.99M |
| Gross Profit | 40.20M | 42.68M | 44.36M | 41.97M | 32.53M | 21.83M |
| Selling, General & Admin | 37.78M | 36.56M | 35.87M | 31.42M | 29.03M | 42.17M |
| Research & Development | 5.56M | 4.87M | 6.20M | 6.46M | 8.43M | 13.70M |
| Other Operating Expenses | 857.00K | -1.45M | -1.39M | -1.56M | -997.00K | -1.50M |
| Operating Expenses | 44.20M | 39.98M | 40.68M | 36.32M | 36.46M | 54.37M |
| Operating Income | -4.00M | 2.70M | 3.68M | 5.65M | -3.93M | -32.53M |
| Interest Expense | -217.00K | -196.00K | -196.00K | -133.00K | -441.00K | -188.00K |
| Interest & Investment Income | 38.00K | 68.00K | 227.00K | 70.00K | 18.00K | 14.00K |
| Earnings From Equity Investments | -6.00K | -12.00K | 210.00K | 357.00K | 72.00K | 287.00K |
| Currency Exchange Gain (Loss) | 518.00K | 518.00K | -470.00K | -514.00K | -2.52M | -1.11M |
| Other Non Operating Income (Expenses) | -149.00K | |||||
| EBT Excluding Unusual Items | -3.67M | 3.08M | 3.46M | 5.43M | -6.95M | -33.53M |
| Gain (Loss) on Sale of Investments | 4.64M | 4.64M | 1.09M | -2.75M | -12.96M | -12.36M |
| Gain (Loss) on Sale of Assets | 104.00K | 104.00K | 80.00K | 203.00K | 215.00K | 94.00K |
| Pretax Income | 1.08M | 7.83M | 4.63M | 2.88M | -19.69M | -45.80M |
| Income Tax Expense | 1.32M | 1.52M | 68.00K | 70.00K | 161.00K | 244.00K |
| Net Income | -240.00K | 6.30M | 4.56M | 2.81M | -19.85M | -46.04M |
| Net Income to Common | -240.00K | 6.30M | 4.56M | 2.81M | -19.85M | -46.04M |
| Shares Outstanding (Basic) | 38.09M | 37.85M | 37.63M | 37.17M | 31.25M | 28.60M |
| Shares Outstanding (Diluted) | 38.09M | 37.85M | 37.63M | 37.17M | 31.25M | 28.60M |
| EPS (Basic) | -0.01 | 0.17 | 0.12 | 0.08 | -0.64 | -1.61 |
| EPS (Diluted) | -0.04 | 0.17 | 0.12 | 0.08 | -0.64 | -1.61 |
| Free Cash Flow | -8.78M | 2.28M | 5.19M | 4.44M | 3.99M | -22.52M |
| Free Cash Flow Per Share | -0.23 | 0.06 | 0.14 | 0.12 | 0.13 | -0.79 |
| Gross Margin | 51.26% | 52.41% | 48.41% | 49.04% | 45.53% | 29.58% |
| Operating Margin | -5.10% | 3.32% | 4.02% | 6.60% | -5.50% | -44.07% |
| Profit Margin | -0.31% | 7.74% | 4.97% | 3.28% | -27.78% | -62.37% |
| Free Cash Flow Margin | -11.20% | 2.80% | 5.66% | 5.19% | 5.59% | -30.51% |
| EBITDA | -1.62M | 5.51M | 6.01M | 6.77M | -2.80M | -30.37M |
| EBITDA Margin | -2.07% | 6.77% | 6.56% | 7.91% | -3.92% | -41.14% |
| D&A For EBITDA | 2.37M | 2.81M | 2.33M | 1.12M | 1.13M | 2.17M |
| EBIT | -4.00M | 2.70M | 3.68M | 5.65M | -3.93M | -32.53M |
| EBIT Margin | -5.10% | 3.32% | 4.02% | 6.60% | -5.50% | -44.07% |
| Effective Tax Rate | 122.18% | 19.49% | 1.47% | 2.43% | ||
| Revenue as Reported | 78.42M | 81.45M | 91.64M | 85.58M | 71.46M | 73.82M |
| Advertising Expenses | 8.93M | 7.14M | 3.92M | 2.22M | 2.85M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 25.20M | 32.83M | 30.06M | 23.37M | 14.92M | 7.87M |
| Short-Term Investments | 12.19M | 14.84M | 10.31M | 7.61M | 13.10M | 14.17M |
| Cash & Short-Term Investments | 37.38M | 47.67M | 40.37M | 30.98M | 28.02M | 22.04M |
| Accounts Receivable | 6.20M | 6.13M | 9.85M | 9.43M | 6.66M | 16.08M |
| Other Receivables | 1.36M | 1.35M | 715.00K | 1.47M | ||
| Receivables | 6.20M | 7.49M | 11.20M | 9.43M | 7.37M | 17.55M |
| Inventory | 3.99M | 4.38M | 1.31M | 2.18M | 3.62M | 6.13M |
| Prepaid Expenses | 6.26M | 1.49M | 2.32M | 6.42M | 2.16M | 2.55M |
| Other Current Assets | 232.00K | 361.00K | 163.00K | 814.00K | ||
| Total Current Assets | 53.84M | 61.26M | 55.56M | 49.02M | 41.35M | 49.09M |
| Property, Plant & Equipment | 3.93M | 3.97M | 6.90M | 4.75M | 1.39M | 1.80M |
| Long-Term Investments | 2.11M | 2.04M | 2.01M | 1.96M | 1.71M | 13.93M |
| Other Intangible Assets | 463.00K | 511.00K | 507.00K | 652.00K | 802.00K | 1.01M |
| Other Long-Term Assets | 63.00K | 43.00K | 228.00K | 688.00K | 1.31M | |
| Total Assets | 60.40M | 67.83M | 64.98M | 56.61M | 45.93M | 67.12M |
| Accounts Payable | 3.91M | 7.19M | 7.45M | 5.33M | 6.85M | 13.00M |
| Accrued Expenses | 17.48M | 16.51M | 22.75M | 22.89M | 22.28M | 24.70M |
| Short-Term Debt | 9.46M | 5.55M | 6.96M | 5.30M | 2.88M | 3.18M |
| Current Portion of Long-Term Debt | 70.00K | 68.00K | ||||
| Current Portion of Leases | 1.08M | 1.19M | 1.85M | 1.08M | 184.00K | |
| Current Unearned Revenue | 2.05M | 3.42M | 709.00K | 1.60M | 1.27M | 1.59M |
| Other Current Liabilities | 126.00K | 2.83M | 2.47M | 2.92M | 2.97M | 4.29M |
| Total Current Liabilities | 34.18M | 36.77M | 42.18M | 39.12M | 36.44M | 46.77M |
| Long-Term Debt | 1.64M | 1.62M | ||||
| Long-Term Leases | 1.55M | 574.00K | 1.09M | 1.29M | ||
| Other Long-Term Liabilities | 26.00K | 58.00K | 87.00K | 145.00K | 204.00K | 262.00K |
| Total Liabilities | 37.40M | 39.02M | 43.36M | 40.55M | 36.64M | 47.03M |
| Common Stock | 19.00K | 19.00K | 19.00K | 19.00K | 18.00K | 14.00K |
| Additional Paid-In Capital | 242.78M | 242.42M | 241.38M | 240.14M | 236.77M | 230.05M |
| Retained Earnings | -222.18M | -215.71M | -222.01M | -226.57M | -229.38M | -209.52M |
| Comprehensive Income & Other | 2.39M | 2.08M | 2.23M | 2.46M | 1.88M | -446.00K |
| Total Common Equity | 23.01M | 28.81M | 21.62M | 16.05M | 9.29M | 20.09M |
| Shareholders' Equity | 23.01M | 28.81M | 21.62M | 16.05M | 9.29M | 20.09M |
| Total Liabilities & Equity | 60.40M | 67.83M | 64.98M | 56.61M | 45.93M | 67.12M |
| Total Debt | 13.79M | 9.00M | 9.90M | 7.67M | 3.06M | 3.18M |
| Net Cash (Debt) | 23.59M | 38.67M | 30.47M | 23.32M | 24.96M | 18.86M |
| Net Cash Per Share | 0.62 | 1.02 | 0.81 | 0.63 | 0.80 | 0.66 |
| Filing Date Shares Outstanding | 38.19M | 38.09M | 37.63M | 37.49M | 36.98M | 28.97M |
| Total Common Shares Outstanding | 38.19M | 38.06M | 37.80M | 37.45M | 36.88M | 28.70M |
| Working Capital | 19.66M | 24.50M | 13.38M | 9.89M | 4.91M | 2.31M |
| Book Value Per Share | 0.60 | 0.76 | 0.57 | 0.43 | 0.25 | 0.70 |
| Tangible Book Value | 22.55M | 28.30M | 21.12M | 15.40M | 8.49M | 19.08M |
| Tangible Book Value Per Share | 0.59 | 0.74 | 0.56 | 0.41 | 0.23 | 0.66 |
| Machinery | 12.00M | 12.23M | 11.92M | 11.26M | 13.37M | |
| Leasehold Improvements | 552.00K | 529.00K | 531.00K | 536.00K | 589.00K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -240.00K | 6.30M | 4.56M | 2.81M | -19.85M | -46.04M |
| Depreciation & Amortization | 2.37M | 2.81M | 2.33M | 1.12M | 1.13M | 2.17M |
| Loss (Gain) From Sale of Assets | -104.00K | -104.00K | -80.00K | -203.00K | -215.00K | -94.00K |
| Loss (Gain) From Sale of Investments | -4.64M | -4.64M | -1.09M | 2.75M | 13.04M | 12.36M |
| Loss (Gain) on Equity Investments | 12.00K | 12.00K | -210.00K | -357.00K | -72.00K | -287.00K |
| Stock-Based Compensation | 1.04M | 1.04M | 1.24M | 3.31M | 3.10M | 8.76M |
| Provision & Write-off of Bad Debts | 790.00K | 790.00K | 452.00K | -126.00K | 2.01M | 40.00K |
| Other Operating Activities | -4.52M | -425.00K | 772.00K | 1.30M | 3.06M | 1.31M |
| Change in Accounts Receivable | 3.47M | 3.47M | -1.81M | -390.00K | 7.71M | -8.24M |
| Change in Inventory | -2.99M | -2.99M | 766.00K | 784.00K | 2.41M | -302.00K |
| Change in Unearned Revenue | 2.72M | 2.72M | -717.00K | 373.00K | -523.00K | 686.00K |
| Change in Other Net Operating Assets | -5.78M | -5.78M | 2.98M | -4.87M | -7.40M | 7.90M |
| Operating Cash Flow | -7.86M | 3.21M | 9.19M | 6.51M | 4.40M | -21.74M |
| Capital Expenditures | -924.00K | -924.00K | -4.00M | -2.06M | -411.00K | -787.00K |
| Sale of Property, Plant & Equipment | 225.00K | 225.00K | 240.00K | 217.00K | 266.00K | 193.00K |
| Sale (Purchase) of Intangibles | -122.00K | -122.00K | -14.00K | -92.00K | ||
| Investment in Securities | 1.52M | -3.00K | -249.00K | |||
| Other Investing Activities | 511.00K | 83.00K | ||||
| Investing Cash Flow | -517.00K | -1.03M | -3.76M | -240.00K | -162.00K | -935.00K |
| Short-Term Debt Issued | 9.71M | 11.42M | ||||
| Long-Term Debt Issued | 7.21M | 6.99M | 7.91M | 4.74M | ||
| Total Debt Issued | 7.21M | 7.21M | 6.99M | 7.91M | 14.44M | 11.42M |
| Short-Term Debt Repaid | -9.62M | -11.97M | ||||
| Long-Term Debt Repaid | -7.09M | -5.26M | -5.45M | -1.29M | ||
| Lease Payments | -238.00K | |||||
| Total Debt Repaid | -7.09M | -7.09M | -5.26M | -5.45M | -10.90M | -11.97M |
| Net Debt Issued (Repaid) | 122.00K | 122.00K | 1.73M | 2.46M | 3.54M | -549.00K |
| Issuance of Common Stock | 49.00K | 1.28M | ||||
| Financing Cash Flow | 2.77M | 122.00K | 1.73M | 2.51M | 3.54M | 735.00K |
| Foreign Exchange Rate Adjustments | 594.00K | 472.00K | -474.00K | -326.00K | -729.00K | -420.00K |
| Net Cash Flow | -5.01M | 2.77M | 6.69M | 8.45M | 7.05M | -22.36M |
| Free Cash Flow | -8.78M | 2.28M | 5.19M | 4.44M | 3.99M | -22.52M |
| Free Cash Flow Margin | -11.20% | 2.80% | 5.66% | 5.19% | 5.59% | -30.51% |
| Free Cash Flow Per Share | -0.23 | 0.06 | 0.14 | 0.12 | 0.13 | -0.79 |
| Levered Free Cash Flow | -7.15M | 2.56M | 5.22M | 470.62K | 4.58M | -2.47M |
| Unlevered Free Cash Flow | -7.01M | 2.69M | 5.34M | 553.75K | 4.85M | -2.35M |
| Free Cash Flow After Leases | -8.78M | 2.28M | 5.19M | 4.44M | 3.75M | -22.52M |
| Cash Interest Paid | 196.00K | 196.00K | 196.00K | 133.00K | 426.00K | 188.00K |
| Change in Working Capital | -2.58M | -2.58M | 1.22M | -4.11M | 2.21M | 49.00K |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 7.88M | 61.72M | 78.73M | 64.71M | 122.50M | 187.07M |
| Enterprise Value | -15.72M | 25.15M | 49.66M | 41.76M | 102.67M | 160.58M |
| Last Close Price | 0.20 | 1.64 | 2.10 | 1.75 | 3.34 | 6.59 |
| PE Ratio | 9.79 | 17.27 | 23.02 | |||
| Forward PE | 12.40 | 19.09 | 5.93 | |||
| PS Ratio | 0.10 | 0.76 | 0.86 | 0.76 | 1.71 | 2.53 |
| PB Ratio | 0.34 | 2.14 | 3.64 | 4.03 | 13.19 | 9.31 |
| P/TBV Ratio | 0.34 | 2.18 | 3.73 | 4.20 | 14.43 | 9.80 |
| P/FCF Ratio | 27.02 | 15.18 | 14.57 | 30.68 | ||
| P/OCF Ratio | 19.24 | 8.57 | 9.95 | 27.82 | ||
| EV/Sales Ratio | 0.31 | 0.54 | 0.49 | 1.44 | 2.17 | |
| EV/EBITDA Ratio | 4.57 | 8.26 | 6.17 | |||
| EV/EBIT Ratio | 9.31 | 13.48 | 7.40 | |||
| EV/FCF Ratio | 11.01 | 9.57 | 9.40 | 25.71 | ||
| Debt / Equity Ratio | 0.60 | 0.31 | 0.46 | 0.48 | 0.33 | 0.16 |
| Debt / EBITDA Ratio | 11.12 | 1.09 | 1.15 | 0.88 | ||
| Debt / FCF Ratio | 3.94 | 1.91 | 1.73 | 0.77 | ||
| Net Debt / Equity Ratio | -1.02 | -1.34 | -1.41 | -1.45 | -2.69 | -0.94 |
| Net Debt / EBITDA Ratio | 14.52 | -7.02 | -5.07 | -3.45 | 8.91 | 0.62 |
| Net Debt / FCF Ratio | 2.69 | -16.93 | -5.87 | -5.25 | -6.25 | 0.84 |
| Asset Turnover | 1.25 | 1.23 | 1.51 | 1.67 | 1.26 | 0.90 |
| Inventory Turnover | 8.95 | 13.63 | 27.05 | 15.02 | 7.98 | 8.68 |
| Quick Ratio | 1.27 | 1.50 | 1.22 | 1.03 | 0.97 | 0.85 |
| Current Ratio | 1.57 | 1.67 | 1.32 | 1.25 | 1.14 | 1.05 |
| Return on Equity (ROE) | -1.06% | 24.99% | 24.20% | 22.18% | -135.13% | -120.39% |
| Return on Assets (ROA) | -3.99% | 2.54% | 3.79% | 6.88% | -4.35% | -24.74% |
| Return on Invested Capital (ROIC) | -369.44% | |||||
| Return on Capital Employed (ROCE) | -15.20% | 8.70% | 16.20% | 32.30% | -41.40% | -159.80% |
| Earnings Yield | -17.66% | 10.21% | 5.79% | 4.34% | -16.21% | -24.61% |
| FCF Yield | -113.82% | 3.70% | 6.59% | 6.86% | 3.26% | -12.04% |
| Buyback Yield / Dilution | -0.99% | -0.58% | -1.24% | -18.96% | -9.27% | -10.05% |