UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q _______________________________________ (Mark One) For the quarterly period ended June 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 0-21044 _______________________________________ (Exact Name of Registrant as Specified in its Charter) Delaware 33-0204817 (State or Other Jurisdiction of Incorporation or Organizati ...

Universal Electronics (UEIC) Q2 2025 Earnings Call August 07, 2025 04:30 PM ET Speaker0Good day, and thank you for standing by. Welcome to the Universal Electronics Second Quarter twenty twenty five Financial Results Conference Call. At this time, all participants are in a listen only mode. After the speakers' presentation, there will be a question and answer session. To ask a question during the session, you will need to press 11 on your telephone.You will then hear an automated message advising your hand ...

Exhibit 99 Financial Results for the Six Months Ended June 30: 2025 Compared to 2024 "In the second quarter of 2025, our product development and footprint optimization efforts delivered 46% revenue growth in the connected home, which drove strong gross margins and operating cash flow," said Chief Operating Officer and Interim Chief Executive Officer Richard Carnifax. "Focused on attractive long-term market opportunities, we are allocating investment to profitable growth areas, particularly in connected home ...

Core Insights - Universal Electronics (UEIC) is currently rated 2 (Buy) by Zacks Rank, indicating a positive earnings outlook, while Hayward Holdings, Inc. (HAYW) is rated 3 (Hold) [3] - Value investors assess various traditional metrics to determine if a stock is undervalued, including P/E ratio, P/S ratio, earnings yield, and cash flow per share [4] Valuation Metrics - UEIC has a forward P/E ratio of 12.98, significantly lower than HAYW's forward P/E of 20.06, suggesting that UEIC may be undervalued [5] - The PEG ratio for UEIC is 0.87, indicating a favorable growth outlook compared to HAYW's PEG ratio of 2.85, which suggests higher expected growth relative to its price [5] - UEIC's P/B ratio stands at 0.59, while HAYW's P/B ratio is 2.18, further supporting the notion that UEIC is a more attractive value option [6] - Overall, UEIC has a Value grade of A, while HAYW has a Value grade of C, highlighting UEIC's superior valuation metrics and earnings outlook [6]

While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors use fundamental analysis and traditional valuation metrics to find s ...

Financial Performance - Universal Electronics reported a quarterly loss of $0.12 per share, better than the Zacks Consensus Estimate of a loss of $0.15, and an improvement from a loss of $0.19 per share a year ago, representing an earnings surprise of 20% [1] - The company posted revenues of $92.33 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 0.83%, and showing an increase from year-ago revenues of $91.9 million [2] - Over the last four quarters, Universal Electronics has surpassed consensus EPS estimates two times and topped consensus revenue estimates two times [2] Stock Performance - Universal Electronics shares have declined approximately 46.9% since the beginning of the year, compared to a decline of 4.3% for the S&P 500 [3] - The current Zacks Rank for Universal Electronics is 3 (Hold), indicating that the shares are expected to perform in line with the market in the near future [6] Future Outlook - The current consensus EPS estimate for the coming quarter is $0.10 on revenues of $96.12 million, and for the current fiscal year, it is $0.46 on revenues of $405.19 million [7] - The outlook for the Electronics - Miscellaneous Products industry is currently in the bottom 40% of over 250 Zacks industries, which may impact the performance of Universal Electronics [8]

Universal Electronics (UEIC) Q1 2025 Earnings Call May 08, 2025 04:30 PM ET Company Participants Kirsten Chapman - Managing Director, Alliance Advisors IRRamzi Ammari - SVP of Corporate Planning and StrategyBryan Hackworth - CFO Conference Call Participants Steve Frankel - Director of Research & Senior Research AnalystGregory Burns - Analyst Operator Good afternoon. My name is Kelly, and I will be your conference operator today. Now I would like to welcome everyone to Universal Electronics First Quarter twe ...

Universal Electronics (UEIC) Q1 2025 Earnings Call May 08, 2025 04:30 PM ET Speaker0 Good afternoon. My name is Kelly, and I will be your conference operator today. Now I would like to welcome everyone to Universal Electronics First Quarter twenty twenty five Financial Results Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question and answer session. I will now turn today's conference over to Kirsten Chapman of Alliance Advi ...

PART I. FINANCIAL INFORMATION [Item 1. Consolidated Financial Statements (Unaudited)](index=3&type=section&id=Item%201.%20Consolidated%20Financial%20Statements%20(Unaudited)) Unaudited Q1 2025 consolidated financials report a net loss of **$6.3 million**, an improvement from the prior year, with total assets at **$310.6 million** and **$9.0 million** cash from operations [Consolidated Balance Sheets](index=3&type=section&id=Consolidated%20Balance%20Sheets) Total assets decreased to **$310.6 million** as of March 31, 2025, driven by lower receivables and inventories, while liabilities also decreased to **$160.6 million** Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $27,389 | $26,783 | | Accounts receivable, net | $106,007 | $114,182 | | Inventories | $77,455 | $79,355 | | **Total current assets** | **$232,154** | **$242,494** | | **Total assets** | **$310,611** | **$323,354** | | **Liabilities & Equity** | | | | Accounts payable | $69,083 | $72,031 | | Lines of credit | $31,015 | $36,960 | | **Total current liabilities** | **$149,329** | **$158,291** | | **Total liabilities** | **$160,642** | **$170,249** | | **Total stockholders' equity** | **$149,969** | **$153,105** | [Consolidated Statements of Operations](index=4&type=section&id=Consolidated%20Statements%20of%20Operations) Q1 2025 net sales were **$92.3 million**, with an operating loss of **$3.8 million**, a significant improvement from Q1 2024, narrowing the net loss to **$6.3 million** Consolidated Statements of Operations (in thousands, except per share amounts) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net sales | $92,326 | $91,900 | | Gross profit | $26,083 | $25,988 | | Operating income (loss) | $(3,754) | $(6,908) | | Net income (loss) | $(6,274) | $(8,649) | | Basic & Diluted EPS | $(0.48) | $(0.67) | - Operating expenses were lower in Q1 2025, with R&D expenses at **$7.2 million** (vs. $7.8 million in Q1 2024) and SG&A at **$22.6 million** (vs. $24.0 million in Q1 2024). No factory restructuring charges were incurred in Q1 2025, compared to **$1.1 million** in Q1 2024[11](index=11&type=chunk) [Consolidated Statements of Comprehensive Income (Loss)](index=5&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income%20(Loss)) Q1 2025 comprehensive loss improved to **$4.7 million** from **$10.2 million**, driven by a smaller net loss and a positive foreign currency translation adjustment Consolidated Statements of Comprehensive Income (Loss) (in thousands) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net income (loss) | $(6,274) | $(8,649) | | Change in foreign currency translation adjustment | $1,578 | $(1,591) | | **Comprehensive income (loss)** | **$(4,696)** | **$(10,240)** | [Consolidated Statements of Stockholders' Equity](index=6&type=section&id=Consolidated%20Statements%20of%20Stockholders'%20Equity) Total stockholders' equity decreased to **$150.0 million** by March 31, 2025, primarily due to a **$6.3 million net loss**, partially offset by currency adjustments and stock-based compensation - Key changes in equity for Q1 2025 included a **net loss of $6.3 million**, a **$1.6 million positive currency translation adjustment**, and the purchase of **$0.4 million in treasury shares**[16](index=16&type=chunk) [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Q1 2025 operating activities generated **$9.0 million** in cash, a significant improvement, leading to a **$0.6 million** increase in cash and cash equivalents overall Consolidated Statements of Cash Flows Highlights (in thousands) | Cash Flow Activity | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net cash provided by (used for) operating activities | $8,984 | $(2,775) | | Net cash provided by (used for) investing activities | $(1,907) | $(2,366) | | Net cash provided by (used for) financing activities | $(6,383) | $(10,230) | | **Net increase (decrease) in cash and cash equivalents** | **$606** | **$(15,837)** | [Notes to Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) Notes detail revenue disaggregation, customer concentrations, debt covenants, restructuring, and legal proceedings, highlighting connected home channel growth and compliance with debt covenants Net Sales by Channel (in thousands) | Channel | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Connected home | $31,729 | $24,171 | | Home entertainment | $60,597 | $67,729 | | **Total net sales** | **$92,326** | **$91,900** | - Daikin Industries Ltd. and Comcast Communications were significant customers, accounting for **17.7%** and **11.2%** of net sales, respectively, in Q1 2025[40](index=40&type=chunk) - The company completed its Asia factory restructuring in Q4 2024. The Mexico factory restructuring is scheduled to be completed in Q2 2025, with no further expenses expected from either plan[80](index=80&type=chunk)[81](index=81&type=chunk) - The company is involved in ongoing litigation with Roku Inc. and has an accrued legal judgment of **$4.2 million** related to a lawsuit with an employment agency in the PRC (Tongshun Matters)[84](index=84&type=chunk)[91](index=91&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=26&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes a **0.5% sales increase** to connected home growth, improved operating loss to **$3.8 million** due to reduced expenses, and confirms sufficient liquidity for the next twelve months - Net sales in the connected home channel grew to **$31.7 million** from **$24.2 million** YoY, driven by shipments to large climate control and home automation customers[133](index=133&type=chunk) - Net sales in the home entertainment channel decreased to **$60.6 million** from **$67.7 million** YoY, primarily due to lower demand for subscription broadcasting products, particularly in Latin America[134](index=134&type=chunk) - SG&A expenses decreased by **$1.4 million** YoY, driven by lower professional services costs (**$0.6 million**), favorable currency effects (**$0.5 million**), and reduced payroll from lower headcount (**$0.3 million**)[137](index=137&type=chunk) - The company anticipates that current cash, cash flow from operations, and available borrowing will be sufficient to cover cash needs for at least the next twelve months[142](index=142&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=33&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company is exposed to interest rate and foreign currency risks, with a **100 basis point** rate increase impacting net income by **$0.2 million** and a **10%** adverse FX fluctuation impacting Q2 net income by **$4.9 million** - A **100 basis point** increase in interest rates would have an approximately **$0.2 million** annual impact on net income based on the outstanding credit line balance at March 31, 2025[157](index=157&type=chunk) - The company's most significant foreign currency exposure is to the Chinese Yuan Renminbi, as it is the functional currency of its PRC-based factory[159](index=159&type=chunk) - A **10%** adverse fluctuation in key foreign currency exchange rates relative to the U.S. Dollar is estimated to impact net income in the second quarter of 2025 by approximately **$4.9 million**[163](index=163&type=chunk) [Item 4. Controls and Procedures](index=34&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of March 31, 2025, with no material changes to internal control over financial reporting during the quarter - Management concluded that the company's disclosure controls and procedures were effective as of the end of the period covered by the report[165](index=165&type=chunk) - No material changes to the internal control over financial reporting were identified during the most recent fiscal quarter[166](index=166&type=chunk) PART II. OTHER INFORMATION [Item 1. Legal Proceedings](index=34&type=section&id=Item%201.%20Legal%20Proceedings) The company is subject to various lawsuits arising from business operations, with detailed information provided in Note 12 of the financial statements - This section incorporates by reference the discussion of litigation matters from Note 12 of the financial statements, which includes details on cases involving Roku and Tongshun Company[167](index=167&type=chunk)[84](index=84&type=chunk)[91](index=91&type=chunk) [Item 1A. Risk Factors](index=35&type=section&id=Item%201A.%20Risk%20Factors) No new significant risk factors were reported this quarter; readers are directed to the risk factors disclosed in the 2024 Annual Report on Form 10-K - The report refers to the risk factors discussed in the company's 2024 Form 10-K, indicating no material changes or additions during the quarter[168](index=168&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=35&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q1 2025, the company repurchased **40,710 shares** at an average price of **$9.41** for employee tax obligations, with **778,362 shares** remaining available under the repurchase program Share Repurchases for Q1 2025 | Period | Total Shares Purchased | Weighted Average Price Paid per Share | | :--- | :--- | :--- | | Jan 2025 | — | $— | | Feb 2025 | 40,710 | $9.41 | | Mar 2025 | — | $— | | **Total** | **40,710** | **$9.41** | - The repurchased shares in February were tendered by employees to cover tax obligations from vesting restricted stock[169](index=169&type=chunk) - As of May 6, 2025, the Board authorized the continuation of the Share Repurchase Program, allowing for the repurchase of up to the lesser of **$4.0 million** or the remaining **778,362 shares** until August 6, 2025[97](index=97&type=chunk)[169](index=169&type=chunk) [Item 5. Other Information](index=35&type=section&id=Item%205.%20Other%20Information) No directors or officers adopted or terminated Rule 10b5-1 or non-Rule 10b5-1 trading arrangements during Q1 2025 - No directors or officers adopted or terminated Rule 10b5-1 or non-Rule 10b5-1 trading arrangements during Q1 2025[170](index=170&type=chunk) [Item 6. Exhibits](index=36&type=section&id=Item%206.%20Exhibits) The report lists filed exhibits, including amendments to credit agreements, transition and cooperation agreements, and officer certifications, along with Inline XBRL documents - Key exhibits include the Ninth Amendment to the Second Amended and Restated Credit Agreement, a Transition Agreement with Paul D. Arling, and a Cooperation Agreement with Kent Lake Partners LP[173](index=173&type=chunk) - Certifications by the Chief Financial Officer pursuant to Rule 13a-14(a) and Section 1350 are included as exhibits[173](index=173&type=chunk)

Chairman of the Board Eric Singer said, "We are pleased to have added key skill sets to our Board in recent weeks with the addition of John Mutch and Michael Burger. The Board is laser focused on improving financial performance and driving enhanced stockholder value while we continue to provide state of the art technology and first class service to our global customers." Financial Results for the Three Months Ended March 31: 2025 Compared to 2024 Financial Outlook Exhibit 99 Universal Electronics Reports Fi ...