uCloudlink Group Full Year 2023 Earnings: Misses Expectations

uCloudlink Group (NASDAQ:UCL) Full Year 2023 Results

Key Financial Results

• Revenue: US$85.6m (up 20% from FY 2022).
• Net income: US$2.81m (up from US$19.9m loss in FY 2022).
• Profit margin: 3.3% (up from net loss in FY 2022). The move to profitability was primarily driven by higher revenue.
• EPS: US$0.076 (up from US$0.64 loss in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

uCloudlink Group Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) also missed analyst estimates by 93%.

Looking ahead, revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 3.4% growth forecast for the Wireless Telecom industry in the US.

Performance of the American Wireless Telecom industry.

The company's shares are down 7.6% from a week ago.

Risk Analysis

You should learn about the 2 warning signs we've spotted with uCloudlink Group.

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