UCLOUDLINK(US:UCL)2023-05-18 12:49Business Overview - uCloudlink's mission is to make the world more connected with maximized network utility through mobile data traffic sharing[9] - The company's technology effectively improves network coverage and reduces congestion, benefiting both mobile network operators (MNOs) and users[21] - uCloudlink has 177 patents related to its technology, as of March 31, 2023, with 139 approved and 38 pending approval globally[23,37] - The company has a global presence, operating in over 60 countries and regions[37] Financial Performance (Q1 2023) - Total revenue for Q1 2023 was $18.01 million, with $12.92 million from services and $5.09 million from product sales[108] - Revenue from services accounted for 71.7% of total revenue, while product sales contributed 28.3%[108] - Gross profit for Q1 2023 was $8.60 million[108] - The company experienced a net income of $2.07 million in Q1 2023, a significant improvement compared to a net loss of $7.92 million in Q1 2022[108] - Operating expenses decreased to $8.66 million in Q1 2023[108] Business Segments - Revenue from international data connectivity services and other service-related revenues accounted for 45.3% of the total[66] - 95% of revenue contribution is from Non-Mainland China[59]