In the first quarter of 2024, uCloudlink (NASDAQ: UCL) reported revenues of $18.1 million, consistent with its guidance and underscored by a net income of $0.4 million. The company’s financial performance was bolstered by the recovery of international data connectivity services, particularly its Roamingman brand.
A net operating cash inflow of $1.9 million was also recorded. With a positive outlook for the year, uCloudlink anticipates revenues between $95 million and $112 million for the full year, expecting a rise in service gross margins due to improved international roaming services and revenue from newly launched products.
Key Takeaways
- Total revenues hit $18.1 million in Q1 2024, with a net income of $0.4 million.
- Revenue growth driven by recovery in international data connectivity and Roamingman services.
- uCloudlink expanded its product offerings with GuardFlex Pro and GlocalMe…
