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

Market IntelTuesday, Nov 26, 2024 4:20 am ET

1min read

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.

Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.