UCLOUDLINK GROUP INC. Announces Unaudited Third Quarter 2024 Financial Results

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This transition will diversify our revenue streams from primarily mobile data traffic solutions to a mix of value-added services and mobile data traffic solutions, and will drive the ongoing consolidation and development of our GlocalMe ecosystem, positioning UCLOUDLINK as a leading global mobile data traffic sharing marketplace while creating long-term sustainable value for our shareholders.” Third Quarter 2024 Financial Results Revenues Total Revenues were US$25.2 million, representing an increase of 5.6% from US$23.9 million in the same period of 2023.

This increase was primarily attributable to (i) an increase in revenues from international data connectivity services to US$11.5 million in the third quarter of 2024 from US$11.4 million in the same period of 2023, as the recovery of international travel accelerated, and (ii) an increase in revenues from local data connectivity services to US$2.5 million in the third quarter of 2024 from US$2.4 million in the same period of 2023, as the Company continued to develop the local data connectivity services business.

Adjusted EBITDA (Non-GAAP) Adjusted EBITDA (Non-GAAP), which excludes the impact of share-based compensation, fair value gain/loss in other investments, share of profit/loss in equity method investment, net of tax, interest expense, income tax expenses and depreciation and amortization, was US$4.4 million, compared to US$4.1 million in the same period of 2023.

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Author / Journalist: uCloudlink Group Inc.

Category: Technology

Markets: ChinaAustraliaCanadaHong KongJapanSingaporeUnited States

Topics: US90354D1046 Nasdaq:UCL

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Published On: 2024-11-26 @ 08:00:00 (10 hours ago)

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