UCL on Nasdaq
uCloudlink Group Inc.
Communications services company in the Cayman Islands, listed on Nasdaq (UCL). Summary from the record
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Last updated Oct 19, 2026.
Overview
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- TickerUCL on Nasdaq1
- IndustryCommunications Services, NEC1
- HeadquartersE91
- Incorporated inCayman Islands3
- Business addressUnit 2214-Rm1, 22/F, Mira Place Tower A, 132 Nathan Road, Tsim Sha Tsui, Kowloon, Hong Kong3
- Filer categoryNon-accelerated filer3
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Co., Ltd. and Beijing uCloudlink New Technology Co., Ltd. and their respective shareholders.4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
52.4%Gross margin2
9.8%Operating margin2
7.7%Net margin2
-11.1%Revenue growth, 20252
21.9%Return on equity2
0.06×Debt to equity2
$2.3MFree cash flow2
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Sale Of Products brought in 25% of the revenue uCloudlink Group Inc. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Sale Of Products | $27.0M | $31.6M | $20.4M |
| Sales of products | $27.0M | $31.6M | $20.4M |
| Sales Of Terminals | $24.4M | $22.2M | $19.5M |
| Paa SAnd Saa SServices | $10.4M | $11.3M | $11.1M |
| Local Data Connectivity Services | $8.8M | $8.1M | $6.7M |
| Others | $1.4M | $1.1M | $2.1M |
| Other One | $487.0K | $970.0K | $729.0K |
| Sales Of Data Related Products | $2.1M | $8.4M | $134.0K |
Regions
Japan brought in 38% of the revenue uCloudlink Group Inc. broke down this way in fiscal 2025.
Regions by year
| Regions | 2023 | 2024 | 2025 |
|---|---|---|---|
| Japan | $37.1M | $43.4M | $30.8M |
| [Canada] | $11.2M | $22.0M | $25.7M |
| North America | $24.1M | $12.7M | $11.1M |
| Hong Kong | $1.7M | $2.1M | $4.4M |
| Southeast Asia | $4.6M | $4.5M | $4.2M |
| Europe | $4.2M | $4.1M | $3.7M |
| Others | $1.9M | $1.3M | $791.0K |
| Taiwan | $868.0K | $1.6M | $759.0K |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue48¢$38.8M
- Research and development6¢$4.9M
- Other costs37¢$30.0M
- Income tax2¢$1.5M
- Profit8¢$6.3M
Out of $81.4M in revenue.2
Where each dollar of operating cash went, fiscal 2025
- Capital spending29¢$924.0K
- Kept or used elsewhere71¢$2.3M
Out of $3.2M of cash from operations.2
Financial statements
No quarterly figures reported.
Every line of the income statement as filed: the last 3 fiscal years, latest first.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Revenues | $81.4M | $91.6M | $85.6M |
| Cost of revenues | -$38.8M | -$47.3M | -$43.6M |
| Gross profit | $42.7M | $44.4M | $42.0M |
| Research and development expenses | -$4.9M | -$6.2M | -$6.5M |
| Sales and marketing expenses | -$24.0M | -$19.9M | -$14.3M |
| General and administrative expenses | -$12.6M | -$15.9M | -$17.1M |
| Other (expense)/income, net | $6.7M | $2.1M | -$1.5M |
| Income from operations | $8.0M | $4.4M | $2.6M |
| Interest income | $68.0K | $227.0K | $70.0K |
| Interest expenses | -$196.0K | -$196.0K | -$133.0K |
| Income before income tax | $7.8M | $4.4M | $2.5M |
| Income tax expenses | -$1.5M | -$68.0K | -$70.0K |
| Share of profit/(loss) in equity method investments, net of tax | -$12.0K | $210.0K | $357.0K |
| Net income attributable to ordinary shareholders of the Company | $6.3M | $4.6M | $2.8M |
| Net income | $6.3M | $4.6M | $2.8M |
| Foreign currency translation adjustment | -$159.0K | -$229.0K | $587.0K |
| Total comprehensive income | $6.1M | $4.3M | $3.4M |
| Basic (in Dollars per share) | $0.02 | $0.01 | $0.01 |
| Diluted (in Dollars per share) | $0.02 | $0.01 | $0.01 |
| Basic (in Shares) | 378.5M shares | 376.3M shares | 371.7M shares |
| Diluted (in Shares) | 378.5M shares | 376.3M shares | 371.7M shares |
No quarter-by-quarter statement was filed.
No quarterly figures reported.
Every line of the balance sheet as filed: the last 5 fiscal years (annual) or 8 quarters (quarterly), latest first.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2019-05-31 |
|---|---|---|---|---|---|
| Cash and cash equivalents | $32.8M | $30.1M | |||
| Accounts receivable, net | $4.4M | $7.9M | |||
| Inventories, net | $4.4M | $1.3M | |||
| Prepayments and other assets | $4.6M | $5.6M | |||
| Other investments | $13.3M | $8.7M | |||
| Total current assets | $61.3M | $55.6M | |||
| Long-term investments | $2.0M | $2.0M | |||
| Property and equipment, net | $2.2M | $4.0M | |||
| Right-of-use asset, net | $1.7M | $2.9M | |||
| Intangible assets, net | $511.0K | $507.0K | |||
| Prepayment | $43.0K | ||||
| Total non-current assets | $6.6M | $9.4M | |||
| Total assets | $67.8M | $65.0M | |||
| Short term borrowings | $5.5M | $7.0M | |||
| Current portion of long-term bank borrowings | $68.0K | ||||
| Accrued expenses and other liabilities | $19.3M | $25.2M | |||
| Accounts payable | $7.2M | $7.4M | |||
| Contract liabilities | $3.4M | $709.0K | |||
| Operating lease liabilities | $1.2M | $1.9M | |||
| Total current liabilities | $36.8M | $42.2M | |||
| Long term borrowings | $1.6M | ||||
| Operating lease liabilities | $574.0K | $1.1M | |||
| Other non-current liabilities | $58.0K | $87.0K | |||
| Total non-current liabilities | $2.3M | $1.2M | |||
| Total liabilities | $39.0M | $43.4M | |||
| Additional paid-in capital | $242.4M | $241.4M | |||
| Accumulated other comprehensive income | $2.1M | $2.2M | |||
| Accumulated losses | -$215.7M | -$222.0M | |||
| Total shareholders equity | $28.8M | $21.6M | $16.1M | $9.3M | |
| Total liabilities and shareholders equity | $67.8M | $65.0M | |||
| Ordinary shares, authorized (in Shares) | 50.0M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2019-05-31 | 2018-03-31 | 2017-06-30 | 2015-11-30 |
|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | $32.8M | $30.1M | ||||||
| Accounts receivable, net | $4.4M | $7.9M | ||||||
| Inventories, net | $4.4M | $1.3M | ||||||
| Prepayments and other assets | $4.6M | $5.6M | ||||||
| Other investments | $13.3M | $8.7M | ||||||
| Total current assets | $61.3M | $55.6M | ||||||
| Long-term investments | $2.0M | $2.0M | ||||||
| Property and equipment, net | $2.2M | $4.0M | ||||||
| Right-of-use asset, net | $1.7M | $2.9M | ||||||
| Intangible assets, net | $511.0K | $507.0K | ||||||
| Prepayment | $43.0K | |||||||
| Total non-current assets | $6.6M | $9.4M | ||||||
| Total assets | $67.8M | $65.0M | ||||||
| Short term borrowings | $5.5M | $7.0M | ||||||
| Current portion of long-term bank borrowings | $68.0K | |||||||
| Accrued expenses and other liabilities | $19.3M | $25.2M | ||||||
| Accounts payable | $7.2M | $7.4M | ||||||
| Contract liabilities | $3.4M | $709.0K | ||||||
| Operating lease liabilities | $1.2M | $1.9M | ||||||
| Total current liabilities | $36.8M | $42.2M | ||||||
| Long term borrowings | $1.6M | |||||||
| Operating lease liabilities | $574.0K | $1.1M | ||||||
| Other non-current liabilities | $58.0K | $87.0K | ||||||
| Total non-current liabilities | $2.3M | $1.2M | ||||||
| Total liabilities | $39.0M | $43.4M | ||||||
| Additional paid-in capital | $242.4M | $241.4M | ||||||
| Accumulated other comprehensive income | $2.1M | $2.2M | ||||||
| Accumulated losses | -$215.7M | -$222.0M | ||||||
| Total shareholders equity | $28.8M | $21.6M | $16.1M | $9.3M | ||||
| Total liabilities and shareholders equity | $67.8M | $65.0M | ||||||
| Ordinary shares, authorized (in Shares) | 50.0M shares | |||||||
| Ordinary shares, issued (in Shares) | 31.7M shares | 4.3M shares | 20.0M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income | $6.3M | $4.6M | $2.8M |
| (Reversal)/provision for bad debts | $790.0K | $452.0K | -$126.0K |
| Impairment/(reversal) for inventory obsolescence | -$103.0K | $106.0K | $657.0K |
| Depreciation of property and equipment | $2.7M | $2.2M | $985.0K |
| Amortization of intangible assets | $129.0K | $137.0K | $136.0K |
| Gains on disposals of property and equipment | -$104.0K | -$80.0K | -$203.0K |
| Interest expenses | $196.0K | $196.0K | $133.0K |
| Share-based compensation | $1.0M | $1.2M | $3.3M |
| Fair value losses/(gains) on other investments | -$4.6M | -$1.1M | $2.7M |
| Share of (profit)/loss in equity method investments | $12.0K | -$210.0K | -$357.0K |
| Foreign currency exchange losses/(gains), net | -$518.0K | $470.0K | $514.0K |
| Accounts receivable | $3.5M | -$1.8M | -$390.0K |
| Prepayments and other assets | $379.0K | $1.0M | -$1.7M |
| Inventories | -$3.0M | $766.0K | $784.0K |
| Accrued expenses, accounts payable and other liabilities | -$6.3M | $2.2M | -$691.0K |
| Amounts due to related parties | -$49.0K | -$1.2M | -$231.0K |
| Amounts due from related parties | $274.0K | $974.0K | -$2.2M |
| Contract liabilities | $2.7M | -$717.0K | $373.0K |
| Other non-current liabilities | -$29.0K | -$58.0K | -$59.0K |
| Operating lease right-of-use assets | $1.1M | -$555.0K | -$2.1M |
| Operating lease liabilities | -$1.2M | $573.0K | $2.2M |
| Net cash generated from operating activities | $3.2M | $9.2M | $6.5M |
| Purchase of property and equipment | -$924.0K | -$4.0M | -$2.1M |
| Purchase of intangible assets | -$122.0K | ||
| Proceeds from disposal of property and equipment | $225.0K | $240.0K | $217.0K |
| Dividends received from long-term investment | $83.0K | ||
| Decrease in short-term deposit | $196.0K | ||
| Proceeds from redemption of other investment | $1.3M | ||
| Payments for loans to third parties | -$500.0K | ||
| Proceeds from collection of loans to third parties | $293.0K | ||
| Net cash used in investing activities | -$1.0M | -$3.8M | -$240.0K |
| Proceeds from other borrowings | $2.5M | ||
| Repayments of other borrowings | -$2.5M | -$34.0K | |
| Proceeds from bank borrowings | $7.2M | $7.0M | $5.4M |
| Repayments of bank borrowings | -$7.1M | -$2.8M | -$5.4M |
| Proceeds from exercise of share options | $49.0K | ||
| Net cash generated from financing activities | $122.0K | $1.7M | $2.5M |
| Increase in cash and cash equivalents | $2.3M | $7.2M | $8.8M |
| Effect of exchange rates on cash and cash equivalents | $472.0K | -$474.0K | -$326.0K |
| Interest paid | -$196.0K | -$196.0K | -$133.0K |
| Cash paid for amounts included in operating lease liabilities | -$2.0M | -$573.0K | |
| Right-of-use assets obtained in exchange for operating lease obligations | $724.0K | $2.3M | $2.8M |
| Issuance of shares upon vesting of Restricted Shares | $1.0K |
No quarter-by-quarter statement was filed.
Leadership
Who has led uCloudlink Group Inc., and when. Pick a name to see everywhere that person has worked.
Chief financial officer
- Chief financial officerYimeng Shi Mar 18, 2026 to now10
Filings
111 filings to the SEC since October 2021: 5 annual reports, 14 insider forms, 24 large holders, 68 other. The latest 20:
- Oct 13, 2026SCHEDULE 13G/A EDGAR
- Sep 1, 20264 EDGAR
- Sep 1, 20264 EDGAR
- Sep 1, 20264 EDGAR
- Sep 1, 20264 EDGAR
- Sep 1, 20264 EDGAR
- Sep 1, 20264 EDGAR
- Aug 18, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Aug 17, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Aug 11, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Jun 8, 20264 EDGAR
- May 13, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Mar 27, 202620-F ANNUAL REPORT EDGAR
- Mar 20, 2026SCHEDULE 13G/A EDGAR
- Mar 18, 20263 EDGAR
- Mar 18, 20263 EDGAR
- Mar 18, 20263 EDGAR
- Mar 18, 20263 EDGAR
- Mar 18, 20263 EDGAR
- Mar 18, 20263 EDGAR
The 111 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
1 open-market trades by officers, directors and large owners since October 2021: 1 buys and 0 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Jun 5, 2026 | Peng ZhipingDirector | Buy | 10,000 | $1.09 | $10.9K | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Hui LiSCHEDULE 13G/A, 7 filings Oct 19, 2022 to Oct 13, 202615
- Yimeng ShiSCHEDULE 13G/A, 1 filing Feb 11, 202616
- AI Global Investment SPCSCHEDULE 13G/A, 5 filings Jan 19, 2022 to Feb 14, 202517
- Chaohui ChenSCHEDULE 13G/A, 4 filings Feb 14, 2022 to Feb 12, 202518
- China International Capital Corp (International) LtdSC 13G, 3 filings Sep 30, 2022 to Apr 25, 202419
- AmundiSC 13G/A, 2 filings Feb 14, 2022 to Feb 10, 202320
- Yifeng WanSC 13G/A, 2 filings Oct 19, 2022 to Dec 7, 202221
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Renaissance Technologies LLC | 36,005 | $33.8K | 0.0% | −56,950 |
| Susquehanna International Group, Llp | 18,891 | $17.6K | 0.0% | +4,092 |
| Dimensional Fund Advisors LP | 10,461 | $9.7K | 0.0% | No change |
| Matauro, LLC | 10,000 | $9.4K | 0.0% | New |
| Morgan Stanley | 4,625 | $4.3K | 0.0% | No change |
| Rhumbline Advisers | 760 | $706 | 0.0% | No change |
| UBS Group AG | 91 | $86 | 0.0% | +40 |
| SBI Securities Co., Ltd. | 19 | $18 | 0.0% | +13 |
13F reports cover disclosed long positions in U.S. stocks only.
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10SEC EDGARYimeng Shi, Chief financial officer
- 11SEC EDGARWen Gao, Chief Strategy Officer
- 12
- 13SEC EDGARHope Ni, Board member
- 14SEC EDGARYing Kong, Board member
- 15
- 16
- 17
- 18
- 19
- 20
- 21