UCLOUDLINK(US:UCL)2025-03-13 10:05Financial Performance - Total revenues for Q4 2024 were US$26.0 million, a 19.5% increase from US$21.7 million in Q4 2023[5] - Gross profit for Q4 2024 was US$11.2 million, a slight decrease of 1.0% from US$11.3 million in Q4 2023[5] - Net loss for Q4 2024 was US$1.5 million, improved from a net loss of US$1.8 million in Q4 2023[18] - Total revenues for the full year 2024 were US$91.6 million, representing a 7.1% increase from US$85.6 million in 2023[25] - Gross profit for the full year 2024 was US$44.4 million, an increase of 5.7% from US$42.0 million in 2023[28] - Revenues from services increased by 2.4% to US$60.0 million in 2024, up from US$58.6 million in 2023, driven by data connectivity and PaaS/SaaS services[30] - Revenues from data connectivity services rose by 1.9% to US$47.6 million, with international data connectivity contributing US$39.5 million, reflecting a recovery in international travel[30] - Revenues from PaaS and SaaS services grew by 8.3% to US$11.3 million, as business partners utilized these services to enhance operational efficiency[30] - Product sales revenues surged by 17.1% to US$31.6 million, primarily due to a US$6.3 million increase in data-related product sales[30] - Net income improved to US$4.6 million in 2024, compared to US$2.8 million in 2023[37] - Total comprehensive income for the year ended December 31, 2024, was $4,329,000, compared to $3,398,000 in 2023, showing a 27.4% increase[55] Operating Expenses - Total operating expenses for Q4 2024 were US$14.1 million, compared to US$12.1 million in Q4 2023[14] - Cost of services decreased by 3.4% to US$23.5 million, while cost of products sold increased by 23.2% to US$23.7 million due to product mix[31] - Adjusted net income decreased to US$4.5 million from US$8.5 million in 2023, reflecting changes in operational expenses[38] - Research and development expenses decreased to $1,794,000 in Q4 2024 from $1,999,000 in Q4 2023, a reduction of 10.3%[55] - Adjusted EBITDA for the year ended December 31, 2024, was $7,090,000, down from $9,840,000 in 2023, a decline of 28.0%[58] Cash Flow and Assets - Cash and cash equivalents as of December 31, 2024, were US$30.1 million, up from US$27.7 million as of September 30, 2024[21] - Net cash generated from operating activities for the year ended December 31, 2024, was $9,186,000, compared to $6,507,000 in 2023, reflecting a 41% increase[56] - Cash and cash equivalents at the end of the year increased to $30,057,000 from $23,371,000, marking a 28.6% rise[56] - Total assets grew to US$64.979 million as of December 31, 2024, up from US$56.607 million in 2023, reflecting a strong financial position[54] Future Outlook - For Q1 2025, total revenues are expected to be between US$18.2 million and US$19.5 million, indicating a growth of 0.6% to 7.7% compared to Q1 2024[41] - Capital expenditures (CAPEX) increased to US$4.0 million from US$2.1 million in 2023, indicating a focus on growth and expansion[40] Sales Performance - Average daily active terminals in 2024 were 316,688, a 0.2% increase from 316,104 in 2023[5] - Total data consumed through the platform in 2024 was 172,912 terabytes, a decrease of 4.1% from 180,259 terabytes in 2023[5] - Revenues from data connectivity services in Q4 2024 were US$11.7 million, a decrease of 0.9% from US$11.8 million in Q4 2023[10] - The company reported an increase in sales of products to $10,945,000 in Q4 2024, up 61.5% from $6,803,000 in Q4 2023[55]