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UCLOUDLINK GROUP INC. Announces Unaudited Third Quarter 2022 Financial Results

uCloudlink Group Inc. - American Depositary Shares (UCL) 
Company Research Source: GlobeNewswire
HONG KONG, Nov. 16, 2022 (GLOBE NEWSWIRE) -- UCLOUDLINK GROUP INC. (“UCLOUDLINK” or the “Company”) (NASDAQ: UCL), the world’s first and leading mobile data traffic sharing marketplace, today announced its unaudited financial results for the three months ended September 30, 2022. Third Quarter 2022 Financial Highlights Total revenues were US$18.2 million, representing a decrease of 5.7% from US$19.3 million in the third quarter of 2021.Gross profit was US$8.7 million, representing an increase of 59.0% from US$5.5 million in the third quarter of 2021.Loss from operations was US$4.8 million, compared to a loss from operations of US$7.0 million in the third quarter of 2021.Net loss was US$4.6 million, compared to a net loss of US$7.0 million in the third quarter of 2021.Adjusted net income (non-GAAP) was US$0.6 million, compared to an adjusted net loss of US$6.0 million in the third quarter of 2021.Adjusted EBITDA (non-GAAP) was US$0.9 million, compared to negative US$5.4 million Show less Read more
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