UCL

MKT CAP:$46M

uCloudlink Group Inc.

Market Cap

$46M

Communication Services·Telecommunications Services·🇭🇰 Hong Kong·NASDAQ

Communication·Telecommunications·🇭🇰·NASDAQ

Stock Price

$1.20-$0.46 (-27.71%)

Apr 22, 2026

Company Details

uCloudlink Group Inc. operates as a mobile data traffic sharing marketplace in the telecommunications industry. It provides uCloudlink 1.0, a model that focuses on cross-border travelers that need mobile data connectivity services in variou...

CEO

Chaohui Chen

IPO Date

Jun 10, 2020

Website

www.ucloudlink.com

Key Metrics TTM

Revenue

$85M

-1.0% YoY

Net Income

$8M

EPS (Diluted)

$1.62

Free Cash Flow

-$5M

Revenue / Share

$2.24

Gross Margin

49.8%

Operating Margin

-1.5%

Net Margin

9.2%

FCF Margin

-6.4%

P/S

0.5x

P/E

5.8x

Earnings Reports

FY 2025

Mar 27, 2026

$82M-10.9%EPS $1.70

Q3 2025

Nov 12, 2025

$21MEPS $2.00

Q2 2025

Aug 13, 2025

$19M-13.3%EPS $0.18

Q1 2025

May 21, 2025

$19M+3.4%EPS -$0.16

FY 2024

Mar 27, 2025

$92M+7.1%EPS $1.20

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 21	$19M	$5M	-$8M
Q3 21	$19M	$5M	-$7M
Q4 21	$18M	$5M	-$15M
Q1 22	$16M	$6M	-$8M
Q2 22	$18M	$8M	-$6M
Q3 22	$18M	$9M	-$5M
Q4 22	$20M	$10M	-$1M
Q1 23	$18M	$9M	$2M
Q3 23	$24M	$12M	$3M
Q4 23	$22M	$11M	-$2M
Q1 24	$18M	$10M	$511.0K
Q2 24	$22M	$11M	$2M
Q4 24	$26M	$11M	-$2M
Q1 25	$19M	$10M	-$472.0K
Q2 25	$19M	$10M	$808.0K
Q3 25	$21M	$11M	$120.0K

Valuation

Quarter	P/S	P/E
Q2 21	4.1x	—
Q3 21	1.9x	—
Q4 21	1.5x	—
Q1 22	0.8x	—
Q2 22	0.5x	—
Q3 22	0.3x	—
Q4 22	1.9x	—
Q1 23	2.0x	—
Q3 23	1.0x	—
Q4 23	0.8x	23.9x
Q1 24	0.7x	13.5x
Q2 24	0.8x	16.9x
Q4 24	1.0x	—
Q1 25	0.5x	84.4x
Q2 25	0.8x	90.9x
Q3 25	1.0x	11.3x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 21	-$6M	$0
Q3 21	-$6M	-$6M
Q4 21	-$3M	-$4M
Q1 22	-$4M	-$4M
Q2 22	$2M	$2M
Q3 22	$1M	$1M
Q4 22	$5M	$5M
Q1 23	$2M	$1M
Q3 23	$3M	$2M
Q4 23	-$1M	-$3M
Q1 24	$2M	$1M
Q2 24	$5M	$3M
Q4 24	$540.0K	-$3M
Q1 25	$236.0K	-$64.0K
Q2 25	-$877.0K	-$1M
Q3 25	-$898.0K	-$898.0K

Capital Expenditures

Quarter	CapEx
Q2 21	$6M
Q3 21	$300.0K
Q4 21	$787.0K
Q1 22	$0
Q2 22	$245.0K
Q3 22	$100.0K
Q4 22	$411.0K
Q1 23	$400.0K
Q3 23	$800.0K
Q4 23	$2M
Q1 24	$600.0K
Q2 24	$2M
Q4 24	$4M
Q1 25	$300.0K
Q2 25	$200.0K
Q3 25	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 21	-8.5%	-56.1%
Q3 21	+7.4%	-4.6%
Q4 21	+3.2%	+12.5%
Q1 22	-11.8%	-29.8%
Q2 22	-6.3%	-13.2%
Q3 22	-5.7%	-12.7%
Q4 22	+11.4%	-37.2%
Q1 23	+15.3%	-31.2%
Q3 23	+32.4%	-13.8%
Q4 23	+19.3%	+2.7%
Q1 24	-7.4%	-14.9%
Q2 24	+24.2%	+26.1%
Q4 24	+8.8%	+34.7%
Q1 25	-13.7%	-18.5%
Q2 25	+6.9%	+5.4%
Q3 25	-5.4%	+4.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 21	$0	0.0%
Q3 21	$845.0K	4.4%
Q4 21	$1M	6.9%
Q1 22	$5M	31.4%
Q2 22	-$3M	-17.7%
Q3 22	$600.0K	3.3%
Q4 22	$787.0K	4.0%
Q1 23	$733.0K	4.1%
Q3 23	$520.0K	2.2%
Q4 23	$460.0K	2.1%
Q1 24	$429.0K	2.4%
Q2 24	$0	0.0%
Q4 24	$222.0K	0.9%
Q1 25	$329.0K	1.8%
Q2 25	$380.0K	2.0%
Q3 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q2 21	$3M	$6M	$4M	—
Q3 21	$3M	$6M	$3M	—
Q4 21	$3M	$5M	$3M	—
Q1 22	$3M	$5M	$3M	—
Q2 22	$2M	$3M	$3M	—
Q3 22	$1M	$4M	$2M	—
Q4 22	$2M	—	—	$9M
Q1 23	$1M	$3M	$3M	—
Q3 23	$2M	$4M	$4M	—
Q4 23	$2M	$6M	$4M	—
Q1 24	$1M	$3M	$4M	—
Q2 24	$1M	$3M	$4M	—
Q4 24	$2M	$6M	$6M	—
Q1 25	$1M	$3M	$6M	—
Q2 25	$2M	$3M	$6M	—
Q3 25	$1M	$3M	$7M	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$11M	$13M	$24M
Q2 22	$12M	$10M	$22M
Q3 22	$12M	$13M	$26M
Q4 22	$15M	$12M	$27M
Q1 23	$17M	$13M	$29M
Q2 23	$19M	$12M	$30M
Q3 23	$20M	$7M	$27M
Q4 23	$23M	$8M	$31M
Q1 24	$25M	$7M	$32M
Q2 24	$27M	$7M	$34M
Q3 24	$28M	$7M	$35M
Q4 24	$30M	$9M	$39M
Q1 25	$31M	$8M	$39M
Q2 25	$30M	$9M	$39M
Q3 25	$29M	$17M	$46M
Q4 25	$33M	$13M	$46M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 21	28M	+0.2%	+16.4%
Q3 21	28M	+0.2%	+0.8%
Q4 21	29M	+1.1%	+1.9%
Q1 22	29M	+0.7%	+2.3%
Q2 22	31M	+5.6%	+7.8%
Q3 22	31M	0.0%	+7.5%
Q4 22	37M	+20.8%	+28.5%
Q1 23	37M	+0.2%	+27.8%
Q3 23	37M	+0.8%	+22.0%
Q4 23	37M	+0.6%	+22.7%
Q1 24	37M	+0.1%	+1.6%
Q2 24	38M	+0.2%	+1.6%
Q4 24	38M	+0.7%	+1.5%
Q1 25	38M	-0.5%	+0.5%
Q2 25	38M	+0.3%	+0.6%
Q3 25	38M	+0.8%	+1.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 21	$33.3K	578
Q3 21	$33.4K	578
Q4 21	$35.8K	491
Q1 22	$31.8K	491
Q2 22	$36.7K	491
Q3 22	$37.1K	491
Q4 22	$59.3K	330
Q1 23	$54.6K	330
Q3 23	$72.3K	330
Q4 23	$72.4K	300
Q1 24	$60.4K	300
Q2 24	$74.5K	300
Q4 24	$86.5K	300
Q1 25	$62.5K	300
Q2 25	$64.6K	300
Q3 25	$70.5K	300

Revenue / Employee