uCloudlink Group, Inc. · NASDAQ:UCL
uCloudlink — Q4 2025 Earnings Presentation
37 slides from uCloudlink's earnings presentation, March 2026
Slide 1: 4Q and Full Year 2025 Earnings Conference Call Presentation
(Nasdaq: UCL) 4Q and Full Year 2025 Earnings Conference Call Presentation March 2026
Slide 2: Disclaimer
Disclaimer (Nasdaq: UCL) By viewing, accessing, or participating in this presentation, you agree to be bound by the following limitations. Any failure to comply with these restrictions may constitute a violation of applicable securities laws. This presentation has been prepared by UCLOUDLINK GROUP I
Slide 3: Delivering Stable Financial Performance While Building a Sustainable Future
Delivering Stable Financial Performance While Building a Sustainable Future (Nasdaq: UCL) Total Net Income Net Operating Revenues(1) (1) Cash Inflow (1) US$ 81.4 million US$ 6.3 million US$ 3.2 million Note 1: In 2025 3
Slide 4: Bridging Digital Divides: Powering a Connected Future
Bridging Digital Divides: Powering a Connected Future (Nasdaq: UCL) 01 02 03 Global Connectivity Single-Multi Human-Pets Divide Network Divide Emotional Divide Eliminate the global Solve the single-multi Pioneering the Pet- connectivity divide by network divide by Tech era, using AI to breaking down
Slide 5: Strategic Execution Delivers Tangible Results
Strategic Execution Delivers Tangible Results (Nasdaq: UCL) New solutions gaining strong traction Maintaining healthy financial foundation Diversifying revenue with successful new product launches, validated by strong user uptake and best-in-class engagement. Strong user engagement across new soluti
Slide 6: Kicked off 2026 with Powerful Showcase at CES & MWC 2026
Kicked off 2026 with Powerful Showcase at CES & MWC 2026 (Nasdaq: UCL) 2026 CES 2026 MWC Our latest solutions made their global debut at CES 2026 and MWC 2026, attracting significant international attention and earning coverage from Reuters, Xinhua and Associated Press (AP) News — three of the world
Slide 7: PetPhone & PetCam: Ushering in a New Era of Human-Pet Connectivity
PetPhone & PetCam: Ushering in a New Era of Human-Pet Connectivity (Nasdaq: UCL) 01 Debut and global launch at CES & MWC 2026, generating significant international attention. 02 Purchase orders (POs) have been secured with strong customer feedback, laying solid foundation for scaled commercializatio
Slide 8: PetPogo/PetWoof: The AI Digital Ecosystem for Pets
PetPogo/PetWoof: The AI Digital Ecosystem for Pets (Nasdaq: UCL) AI Pet Call Pet Short Videos Pet Music PetPogo/ Pet Live Streaming Pet Care Large-Scale Pet PetWoof Community Pet Insurance Pet-to-Pet, Human- …… Pet Interaction ⚫ Intelligent Hardware Gateway: Seamlessly integrates PetPhone and PetCam
Slide 9: Life Business Line: Record Growth Powered by Breakthrough Innovations
Life Business Line: Record Growth Powered by Breakthrough Innovations (Nasdaq: UCL) 409.1% DAU (1) UniCord & RoamPlug GlocalMe Life business (excluding PetPhone) Year-over-Year Growth RoamPlug UniCord Plus UniCord Plus UniCord Pro Note 1: In Q4 2025. Average Daily Active User (DAU) Reliable, secure
Slide 10: eSIM TRIO: Redefining Global Connectivity, Solving Operator Pain Points
eSIM TRIO: Redefining Global Connectivity, Solving Operator Pain Points (Nasdaq: UCL) eSIM TRIO: Carrier Co-Issuance Program achieving major breakthroughs SIM Business Line including OTA SIM, eSIM, and eSIM TRIO. (Nasdaq: UCL) 349.8% (1) Year-over-Year Growth Note1: In Q4 2025 Average Daily Active U
Slide 11: IoT — Vertical Expansion, Driving Accelerated Growth
IoT — Vertical Expansion, Driving Accelerated Growth (Nasdaq: UCL) Security Camera Strong momentum in High-Growth Verticals 558.7% DAU (1) Year-over-Year Growth Note1: In Q4 2025 Average Daily Active Users (DAU) Car Infotainment ⚫ Sustained strong growth year-over-year. ⚫ Secured key orders for in-c
Slide 12: GlocalMe MeowGo G50 Max - The Ultimate Mobile Connectivity Hub
GlocalMe MeowGo G50 Max - The Ultimate Mobile Connectivity Hub (Nasdaq: UCL) Awards: Best of MWC 2026, HomeCrux - The Best of CES, Yanko Design / Techlicious, CES 2026 Spotlight Awards. Satellite Network - Safety Net Enabling critical two-way messaging and Emergency SOS via satellite, ensuring conne
Slide 13: Operational Highlights
Operational Highlights (Nasdaq: UCL) Daily Active Terminals (DAT) (1) Average daily active terminals (“DAT”) (1) Monthly Active Users (“MAU”) (2) # Terminals 24K 79K 320,499 300K 291K 613K 600K 308,917 304,845 297,082 51K 268,798 10K +66% +153.3% +434.8% +180.8% 30K 31K +898% 196,493 +460.2% 4K 3.64
Slide 14: Geographically Diversified Revenue Streams
Geographically Diversified Revenue Streams (Nasdaq: UCL) (1) 73.2% Non-Mainland 59 61 62 64 63 63 63 64 62 64 China Revenue Contribution 16% 14.8% 16% 17.9% 16.3% 14.3% 20% 17.1% 18.4% 18.4% 13.8% 13% 12.1% 13.6% 15.3% 15.4% 11.2% 11.2% 28% 38% 37.8% 40% 33.6% 33.2% 47.4% 43.6% 53.6% 43.6% 43% 39% 3
Slide 15: Revenue Breakdown
Revenue Breakdown (Nasdaq: UCL) Revenues US$mm $91.6 $85.6 $81.4 $71.4 35% 32% 42% 25% 35% 32% 68% 65% 75% $26.0 $22.1 65% $18.7 $19.4 $21.1 $22.1 19% 42% -14.6%1 24% 24% 32% 32% -36.2%2 76% 76% 81% 68% 58% 68% +1.1%3 2022 2023 2024 2025 Q1'25 Q2'25 Q3'25 Q4'25 Q4'24 Q4’25 Note: Revenue from Service
Slide 16: Revenue Segmentation
Revenue Segmentation (Nasdaq: UCL) PaaS and SaaS services PaaS and SaaS services Revenues 11.6% Revenues 12.5% 2.0 local data 1.0 international 2.0 local data 1.0 international connectivity services data connectivity connectivity services data connectivity revenues 8.1% 57.8% services and other serv
Slide 17: Gross Margin from Services Consistently Higher than Overall Gross Margin
Gross Margin from Services Consistently Higher than Overall Gross Margin (Nasdaq: UCL) Gross Profit US$mm Gross margin 70% 80 60.8% 57.3% 56.6% 58.6% 61.7% 58.0% 60% 61.7%70 56.0% 58.5% 56.6% 53.6% 51.6% 45.5% 49.0% 52.4% 50% 51.7% 52.8% 60 51.6% 48.4% 40% 50 43.0% 30% 40 20% 30 22% $44.4 $42.7 $42.
Slide 18: Steady Operational Efficiency
Steady Operational Efficiency (Nasdaq: UCL) Operating expenses(1) US$mm R&D (3) 4% 19% 27% G&A 31% 45.0 120% S&M $40.4 65% $40.8 40.0 35.000 55% 120% $34.4 $34.6 100% 35.0 30.000 100% 30.0 80% 25.000 80% 25.0 60% 20.000 20.0 48% 53% 52% 52% 53% 60% 40% 45% 42% 15.000 42% 50% $13.9 15.0 40% $9.9 $10
Slide 19: Asset Light Business Model
Asset Light Business Model (Nasdaq: UCL) Operating Cash Flow US$mm $9.2 $4.7 $4.7 $4.4 $6.5 $3.2 $0.2 $0.5 2022 2023 2024 2025 Q1'25 Q2'25 Q3'25 Q4'25 Q4'24 Q4'25 $(0.9) $(0.9) $5.00 6.0% 4.4% CAPEX US$mm 5.0% $4.50 $4.00 4.0% $3.50 2.4% 3.0% $3.00 1.3% 2.0% $2.50 0.6% 1.6% 1.0% 2.6% 2.5% 1.0% $2.00
Slide 20: Net Income & Adjusted EBITDA (non-GAAP)
Net Income & Adjusted EBITDA (non-GAAP) (Nasdaq: UCL) (1) $15.0 Net Income/(Loss) US$mm (1) $9.3 $15.0 (1) $4.6 (1) $6.3 (1) $2.8 $0.7 $5.0 (1) $(5.0) $(0.6) $(5.0) 2022 2023 2024 2025 Q1'25 Q2'25 Q3'25 Q4'25 Q4'24 (1) Q4'25 (1) (1) $(25.0) (1) $(3.1) $(1.5) $(3.1) $(19.9) $(15.0) $(45.0) $(25.0) $(
Slide 21: Q&A
Q&A
Slide 22: Appendix
CG uCloudlink Appendix
Slide 23: Vision and Mission Statement
Vision and Mission Statement Connecting and Sharing without Limitations The Ideal Network of Life To Make the World Better Connected with Maximized Network Utility through the Power of Mobile Data Traffic Sharing
Slide 24: World's First and Leading Mobile Data Traffic Sharing Marketplace
World’s First and Leading Mobile Data Traffic Sharing Marketplace (Nasdaq: UCL) Data Traffic Sharing back Data Traffic Intelligent Data Traffic Factory International MNOs Travelers MVNOs Repackaging Re- Data Users Local Users Data Suppliers distributing SIM Card Resellers Dynamic Allocation Recyclin
Slide 25: Four Core Technological Pillars
Four Core Technological Pillars (Nasdaq: UCL) The First Pillar: The Second Pillar: CloudSIM - Global Cloud- AI powered HyperConn - Network Technology Global Intelligent Connection Hub Core Technologies The Third Pillar: The Fourth Pillar: High-Precision Data AI – Connectivity Positioning Technology
Slide 26: Addressing Data Connectivity Pain Points for Businesses and Consumers
Addressing Data Connectivity Pain Points for Businesses and Consumers (Nasdaq: UCL) “Enabling people to use mobile data traffic freely, anytime and anywhere” Consumers All Stakeholders Businesses International travel Everyday life All scenarios MNOs/MVNOs ➢ Cost of data roaming ➢ Keeping touch of ➢
Slide 27: Evolution of our Business
Evolution of our Business (Nasdaq: UCL) 2014 2018 - present - present 2024 - Vision MNO A MNO B MNO C uCloudlink 1.0 uCloudlink 2.0 uCloudlink 3.0 uCloudlink 3.0 Between Carriers GlocalMe Ecosystem Sharing Marketplace Between Countries (Trial Phase) (Next Phase) for cross-border travelers for local
Slide 28: Scaling up User Base to Build a Full Marketplace
Scaling up User Base to Build a Full Marketplace (Nasdaq: UCL) Marketplace Embedded in Empower terminals third-party and third-party smart devices devices to intelligently select and dynamically switch between Seamless multiple local carriers connectivity to GlocalMe Inside worldwide Break out of cr
Slide 29: Profitable Monetization Model: Recurring Revenues with Scalable User Base
Profitable Monetization Model: Recurring Revenues with Scalable User Base (Nasdaq: UCL) Sales of Products Data Connectivity Services PaaS / SaaS Services … Retail Wholesale Usage-based Revenue-sharing and subscription-based ➢ Providing our business partners with cloud SIM platform services and ➢ The
Slide 30: Scaling User Base with Diverse Solutions to Build a Full Marketplace
Scaling User Base with Diverse Solutions to Build a Full Marketplace (Nasdaq: UCL) Full Marketplace GlocalMe SIM GlocalMe IoT Global potential GlocalMe Life GlocalMe MBB Global potential market of ~100 Global potential Global potential market of ~100 million of market of tens market of millions mill
Slide 31: Unique Business Model with High Barriers to Entry
Unique Business Model with High Barriers to Entry (Nasdaq: UCL) Telecom Class Service Quality Operational Strategic Global Proprietary Technology Team & Talent Complex Value Chain Track-record Partnerships (2) Business 206 162 R&D Staff 180 business development, Across 64 Countries and Knowhow Sales
Slide 32: Our Solution Enables Better Connections
Our Solution Enables Better Connections (Nasdaq: UCL) Better Data Connections for MNOs and Users Improves network coverage and alleviates congestion both indoors and outdoors 4G / 5G Wi-Fi Operator Satellite • Cost-effectively leverage multiple networks to resolve operator congestion and coverage is
Slide 33: Our Advanced Technology and Solutions Enable Secure and Robust Connectivity
Our Advanced Technology and Solutions Enable Secure and Robust Connectivity (Nasdaq: UCL) Cloud SIM Technology HyperConn Solutions Seed SIM Pool of SIM Cards (2) from 398 MNOs (3) Globally 206 Patents (1) Software-based Ready to Support All Three Generations of our Businesses Notes: 1. As of Decembe
Slide 34: Ecosystem Powered by Our PaaS and SaaS Platform
Ecosystem Powered by Our PaaS and SaaS Platform (Nasdaq: UCL) PaaS Platform Industrial SaaS Platform Wi-Fi Router Terminals / Devices Full Business Software Solutions Hosting Partners’ SIM cards Hyperconn Customer Management and Billing Intelligent Selection of Best- performing Network Internet of E
Slide 35: Clear Growth Strategies Across Business Models
Clear Growth Strategies Across Business Models (Nasdaq: UCL) Between Countries Between Carriers Full Marketplace 3.0 1.0 2.0 Capture Local Data Connectivity Data Traffic with Massive User Base Market Opportunity Strengthen Leadership Position Trial phase for GlocalMe Ecosystem Single Operator Entry
Slide 36: Financial Statement
Financial Statement (Nasdaq: UCL) 36
Slide 37: Financial Statement
Financial Statement (Nasdaq: UCL) 37