Ucloud Technologies (UCL.US) Q3 revenue grew 5.6% YoY, net profit fell to US$3.4M

Ucloud Holding Limited (UCL.US) announced its financial results for the third quarter of 2024. The Company's Q3 revenue was US$25.2 million, up 5.6% YoY; net profit was US$3.4 million, compared with US$3.5 million in the same period last year; and basic and diluted EPS was US$0.09, unchanged YoY.

The adjusted net profit (excluding the impact of equity incentive plans, other investments' fair value gains and losses, and the share of losses and gains of equity method investments) after tax was US$3.7 million, compared with US$3.8 million in the same period last year.

Adjusted EBITDA under non-GAAP was US$4.4 million, compared with US$4.1 million in the same period last year.

Ucloud held US$27.7 million in cash and cash equivalents as of September 30, 2024, compared with US$26.8 million as of June 30, 2024.

Guidance

Ucloud expects total revenue in the fourth quarter of 2024 to be between US$25 million and US$30 million, up 15.2% to 38.2% YoY.