uCloudlink Group, Inc. · NASDAQ:UCL
uCloudlink — Q2 2025 Earnings Presentation
32 slides from uCloudlink's earnings presentation, August 2025
Slide 1: Q2 2025 Earnings Conference Call Presentation
(Nasdaq: UCL) Q2 2025 Earnings Conference Call Presentation August 2025
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: Stable Financial Performance Despite Short-Term Macro Headwinds
Stable Financial Performance Despite Short-Term Macro Headwinds (Nasdaq: UCL) Total Revenues(1) Net Income (1) US$ 19.4million US$ 0.7million Note 1: In Q2 2025 3
Slide 4: Strategic Investments Laying Foundation for Future Growth and Profitability
Strategic Investments Laying Foundation for Future Growth and Profitability 1. Accelerating 3 transformative lines: GlocalMe Life | SIM | IoT ✓ PetPhone, eSIM TRIO - led ✓ Investing in: R&D | Go-to-market | Brand 2. Fortifying traditional line: GlocalMe MBB Offsetting tariff uncertainty, supply chai
Slide 5: PetPhone: Accelerating Commercialization
PetPhone: Accelerating Commercialization (Nasdaq: UCL) PetPhone Global Expansion Underway ⚫ Launching and branding in several countries in Q3 2025 ⚫ 20+ potential strategic partners 5
Slide 6: Innovative UniCord-Series: Powering the Future of Connected Mobility
Innovative UniCord-Series: Powering the Future of Connected Mobility (Nasdaq: UCL) Highly competitive, innovative and pioneering products in Automotive Telematics and Travel industries. UniCord Pro UniCord Plus UniCord Plus UniCord Pro ✓ Seamless Connectivity | ✓ Positioning | ✓ Fast-charging in sin
Slide 7: eSIM TRIO: From Market Validation to Commercial Scaling
eSIM TRIO: From Market Validation to Commercial Scaling 1. Integrated Advantages 2. Marketing and Scaling Competitive moat: 01 02 Baseline leadership + next-gen breakthrough The Best Second Carrier Co- Not new entrant. SIM card Issuance Top ranking market share in 1 Single SIM for local Address poor
Slide 8: Sustaining Legacy Leadership: From G40 Pro to Next-Gen Connectivity
Sustaining Legacy Leadership: From G40 Pro to Next-Gen Connectivity (Nasdaq: UCL) MeowGo G40 Pro: Airplane Home Office ⚫ Single-account cross-scenario use (Home/Airplane/Office/others) ⚫ Seamless Wi-Fi/4G/5G switching ⚫ Pilot launch in Q2 2025 and 12-Month Technology Lead (Estimated) MeowGo G50 Max:
Slide 9: GlocalMe IoT: Accelerating Growth & Market Traction
GlocalMe IoT : Accelerating Growth & Market Traction IoT Breakthroughs: Security Camera From Adoption to Revenue Acceleration 10+ times DAT Year-over-Year Growth Note: Average Daily Active Terminals (DAT) Car Infotainment Dashboard Camera ⚫ 1. More top cooperators in battery monitoring, security cam
Slide 10: Operational Highlights
Operational Highlights (Nasdaq: UCL) (1) Daily Active Terminals (DAT) (1) DAT Breakdown: DAT Breakdown: Daily Data Usage per Terminal (1) (1) uCloudlink 1.0 vs. 2.0 by Business GB # Terminals 0.2% 0.7% (2) 2.7% 0.1% 322,519 1.9% 308,917 0.3% 38% 43% 44% 45% 45% 304,845 52% 297,082 2.01 66% 68% 69% (
Slide 11: Geographically Diversified Revenue Streams
Geographically Diversified Revenue Streams (Nasdaq: UCL) (1) 66.8% Non-Mainland 49 54 59 61 62 63 63 61 63 China Revenue Contribution 10% 13% 16% 15% 15.5% 17.9% 15.7% 17.9% 20% 26% 14% 12.9% 14.6% 15.3% 15.3% 33% 28% 38% 40.4% 33.6% 33.6% 47% 46.2% 53% 43% 49% 39% 31.2% 33.2% 33.2% 24% 23.5% 11% 13
Slide 12: Revenue Breakdown
Revenue Breakdown (Nasdaq: UCL) Revenues US$mm $89.6 $91.6 $85.6 $73.8 $71.4 35% 42% 32% 48% 35% 49% 32% 48% 68% 65% $19.4 $22.4 $19.4 52% 65% 18.7 -13.3%1 51% 24% 37% 24% 52% 24% 72% -42.0%2 76% 76% 63% 76% +3.3%3 2020 2021 2022 2023 2024 Q1'25 Q2'25 Q2'24 Q2'25 Note: Revenue from Services Revenue
Slide 13: Revenues Segmentation
Revenues Segmentation (Nasdaq: UCL) PaaS and SaaS services PaaS and SaaS services Revenues11.7% Revenues 13.6% 2.0 local data 1.0 international 2.0 local data 1.0 international connectivity services data connectivity connectivity services data connectivity revenues 8.1% 63.4% services and Other serv
Slide 14: Gross Margin from Services Consistently Higher than Overall Gross Margin
Gross Margin from Services Consistently Higher than Overall Gross Margin (Nasdaq: UCL) Gross Profit US$mm Gross margin 70% 80 60.8% 60.3% 58.5% 57.3% 56.0% 60% 70 56.6% 56.6% 52.8% 52.8% 50% 51.7% 60 42.8% 49.0% 48.4% 49.2% 43.0% 45.5% 40% 50 31.6% 29.6% 30% 40 20% 30 22% $42.0 $44.4 $28.3 $32.5 10%
Slide 15: Accelerating investments for Driving future Growth
Accelerating investments for Driving future Growth (Nasdaq: UCL) Operating expenses(1) US$mm R&D G&A 19% (3) 15% 27% 30% $60.0 120% S&M $48.2 55% 55% $50.0 $47.1 100% 35 120% $40.8 30 100% $40.0 80% 64% $34.4 $34.6 25 80% $30.0 54% 60% 20 48% 53% 52% 52% 60% 15 $20.0 45% 40% 39% 40% $9.9 $10.1 $10.
Slide 16: Asset Light Business Model
Asset Light Business Model (Nasdaq: UCL) Operating Cash Flow US$mm $9.2 $6.5 $4.4 $4.7 $0.2 2020 2021 2022 2023 2024 Q1'25 Q2'25 Q2'24 Q2'25 $(2.0) $(0.9) $(0.9) $(21.7) 6.0% CAPEX US$mm $5.00 $4.50 4.4% 5.0% $4.00 $4.0 7.2% 4.0% $3.50 2.4% $3.00 1.9% 3.0% 1.2% 0.6% 2.0% $2.50 $2.1 1.0% 1.6% 1.0% $1
Slide 17: Net Income & Adjusted EBITDA (non-GAAP)
Net Income & Adjusted EBITDA (non-GAAP) (Nasdaq: UCL) $15.0 Net Income/(Loss) US$mm $15.0 (1) $4.6 (1) (1) $2.2 (1) (1) $2.8 $0.7 $5.0 $0.7 $(5.0) $(0.6) (1) $(5.0) 2020 2021 2022 2023 2024 Q1'25 Q2'25 Q2'24 Q2'25 $(25.0) $(19.9) (1) $(15.0) $(45.0) (1) $(25.0) $(46.0) $(65.0) $(63.4) (1) $(35.0) Ad
Slide 18: Appendix
CG uCloudlink Appendix
Slide 19: 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 20: 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 21: 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 22: 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 23: 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 24: 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 25: 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 26: 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 183 164 R&D Staff 172 business development, Across 63 Countries and Knowhow Sales
Slide 27: 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 28: 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 391 MNOs (3) Globally 183 Patents (1) Software-based Ready to Support All Three Generations of our Businesses Notes: 1. As of June 30
Slide 29: 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 30: 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 31: Financial Statement
Financial Statement (Nasdaq: UCL) 31
Slide 32: Financial Statement
Financial Statement (Nasdaq: UCL) 32