UCLOUDLINK(US:UCL)2024-11-26 11:04Financial Performance - Total revenues for Q3 2024 were US$25.2 million, representing a 5.6% increase from US$23.9 million in Q3 2023[5] - Net income for Q3 2024 was US$3.4 million, compared to US$3.5 million in Q3 2023, reflecting a slight decrease[18] - Adjusted EBITDA for Q3 2024 was US$4.4 million, an increase of 7.3% from US$4.1 million in Q3 2023[16] - Total revenues for Q3 2024 reached $25,192, an increase of 5.5% compared to $23,863 in Q3 2023[38] - Gross profit for Q3 2024 was $12,190, slightly down from $12,207 in Q3 2023, indicating a stable gross margin[38] - Net income for the nine months ended September 30, 2024, was $6,060, representing a 30.5% increase from $4,642 in the same period of 2023[38] - Adjusted EBITDA for the nine months ended September 30, 2024, was $9,416, up from $8,357 in the same period of 2023, reflecting a growth of 12.6%[41] Revenue Sources - Revenues from data connectivity services were US$14.0 million, a 1.9% increase from US$13.8 million in Q3 2023[12] - Revenues from PaaS and SaaS services increased by 29.1% to US$3.0 million in Q3 2024 from US$2.3 million in Q3 2023[12] Future Projections - For Q4 2024, the company expects total revenues to be between US$25.0 million and US$30.0 million, indicating a potential increase of 15.2% to 38.2% compared to Q4 2023[23] Cash and Assets - As of September 30, 2024, the company had cash and cash equivalents of US$27.7 million, up from US$26.8 million as of June 30, 2024[21] - Cash and cash equivalents increased to $27,678 as of September 30, 2024, compared to $20,256 at the end of Q3 2023, marking a rise of 36.7%[39] - Total assets as of September 30, 2024, were $59,814, up from $56,607 as of December 31, 2023, reflecting a growth of 5.0%[37] Liabilities and Equity - The company’s total liabilities decreased to $37,369 as of September 30, 2024, down from $40,554 as of December 31, 2023, indicating a reduction of 7.0%[37] - Shareholders' equity increased to $22,445 as of September 30, 2024, compared to $16,053 as of December 31, 2023, representing a significant growth of 39.7%[37] Operational Metrics - Total data consumed through the platform in Q3 2024 was 44,994 terabytes, a decrease of 3.5% from 46,630 terabytes in Q3 2023[5] - Average daily active terminals in Q3 2024 were 320,452, down 1.4% from 325,078 in Q3 2023[5] - The company served 2,759 business partners in 61 countries and regions as of September 30, 2024[5] Research and Development - Research and development expenses for Q3 2024 were $1,436, a decrease of 10.3% from $1,600 in Q3 2023, indicating improved cost management[38] Share Information - The company reported a total of 377,117,817 shares used in the earnings per share computation for Q3 2024, an increase from 372,334,114 shares in Q3 2023[41]