uCloudlink Group, Inc. · NASDAQ:UCL
uCloudlink — Q1 2026 Earnings Presentation
36 slides from uCloudlink's earnings presentation, May 2026
Slide 1: 1Q 2026 Earnings Conference Call Presentation
(Nasdaq: UCL) 1Q 2026 Earnings Conference Call Presentation May 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: Bridging Divides: Powering a Connected Future
Bridging Divides: Powering a Connected Future (Nasdaq: UCL) 01 02 03 Global Connectivity Single-Multi Bridging the "Pet Divide Network Divide People" Divide Eliminate the global Solve the single-multi Pioneer the Pet-Tech connectivity divide by network divide by era, using AI to foster breaking down
Slide 4: Diversifying Revenue with New Business Lines
Diversifying Revenue with New Business Lines (Nasdaq: UCL) (1) DAU Breakdown: Traditional vs. New Business Lines Note 1: Average Daily Active User (DAU) Traditional Business Line New Business Lines 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 2024 2025 2026Q1 E2026Q2 ⚫ New business lines partially of
Slide 5: PetPhone Strategic Repositioning & PetPogo Commercial Outlook
PetPhone Strategic Repositioning & PetPogo Commercial Outlook (Nasdaq: UCL) 1,397 MAU (1) Note 1: In Q1 2026. Average Monthly Active User (MAU) Since its launch, PetPhone is evolving into PetPogo, a global pet connection app built around the "Pet+AI Social" concept. Following strong market validatio
Slide 6: PetPogo: The "Universal Pet Social Hub"
PetPogo: The "Universal Pet Social Hub" – Redefining the Pet Social (Nasdaq: UCL) PetPhone AI hardware captures pet data to bridge communication gap between owners and their pets, building a differentiated and defensible ecosystem. Through pet-centric social features and viral growth, we expand user
Slide 7: Kicked off 2026 with Powerful Showcase at CES 2026
Kicked off 2026 with Powerful Showcase at CES 2026 (Nasdaq: UCL) 2026 CES At CES 2026 in Las Vegas, we unveiled our PetPogo ecosystem, featuring the PetPhone and the all-new PetCam, exceptional global media attention and market validation. 7
Slide 8: Life Business Line: Record Growth Powered by Breakthrough Innovations
Life Business Line: Record Growth Powered by Breakthrough Innovations (Nasdaq: UCL) (1) (1) 559.9% DAU 401.1% Revenue UniCord & RoamPlug GlocalMe Life business (excluding PetPhone) Year-over-Year Growth RoamPlug UniCord Plus UniCord Plus UniCord Pro Note 1: In Q1 2026. Average Daily Active User (DAU
Slide 9: IoT — Vertical Expansion, Driving Accelerated Growth
IoT — Vertical Expansion, Driving Accelerated Growth (Nasdaq: UCL) Strong momentum in High-Growth Verticals Security Camera 246.5% DAU (1) Year-over-Year Growth (1) 300.8% Revenue Year-over-Year Growth Car Infotainment (2) 2.93M Accumulatively Installed Base on IoT Solutions ⚫ Delivered another quar
Slide 10: SIM Business Line - eSIM TRIO Gains Strong Market Validation
SIM Business Line - eSIM TRIO Gains Strong Market Validation SIM Business Expanding eSIM TRIO Leadership Including OTA SIM, eSIM, and eSIM TRIO (Nasdaq: UCL) 193.6% DAU (1) Our carrier co-issuance program is accelerating (1) rapidly, with the "First 170.4% Revenue SIM" model gaining Year-over-Year G
Slide 11: GlocalMe MeowGo G50 Max - Redefining Connectivity When It Matters Most
GlocalMe MeowGo G50 Max - Redefining Connectivity When It Matters Most (Nasdaq: UCL) Satellite Network - Safety Net In markets where terrestrial network have been disrupted due to conflict, its unique ability to provide resilient connectivity is proving to be a critical differentiator. Air & Ground
Slide 12: Operational Highlights
Operational Highlights (Nasdaq: UCL) Daily Active Terminals (DAT) (1) Average daily active terminals (“DAT”) (1) Monthly Active Users (“MAU”) (2) # Terminals 76K 332,298 34K 623K 320,499 297K 66K 308,917 578K 304,845 277K 297,082 +77% 43K 268,798 +142% +432% 27K +75% 9K 196,493 +1072% 7K +609%16K 6K
Slide 13: Geographically Diversified Revenue Streams
Geographically Diversified Revenue Streams (Nasdaq: UCL) (1) 69.7% Non-Mainland China Revenue 54 59 61 62 64 63 64 Contribution 13% 16% 17.1% 15.5% 20% 14.8% 20.4% 13.8% 13.6% 12.9% 33% 28% 17.3% 38% 37.8% 40.4% 47.4% 32.0% 43% 49% 39% 31.5% 31.2% 30.3% 24.0% 13% 5% 3% 2021 2022 2023 2024 2025 Q1'25
Slide 14: Revenue Breakdown
Revenue Breakdown (Nasdaq: UCL) Revenues US$mm $91.6 $85.6 $81.4 $73.8 $71.4 35% 32% 25% 35% 49% 68% 65% 75% 65% $18.7 $16.9 -10.1%1 51% 24% 21% -21.8%2 76% 79% -6.3%3 2021 2022 2023 2024 2025 Q1'25 Q1'26 Note: Revenue from Services Revenue from Sales of Products 1. Q1 2026 total revenues YoY% 2. Q1
Slide 15: Revenue Segmentation
Revenue Segmentation (Nasdaq: UCL) PaaS and SaaS services PaaS and SaaS services Revenues 14.5% Revenues 14.5% 2.0 local data 1.0 international 2.0 local data 1.0 international connectivity services data connectivity connectivity services data connectivity revenues 7.7% 75.7% services and other serv
Slide 16: Gross Margin from Services Consistently Higher than Overall Gross Margin
Gross Margin from Services Consistently Higher than Overall Gross Margin (Nasdaq: UCL) Gross Profit US$mm Gross margin 70% 60.8% 80 58.5% 58.0% 60% 56.0% 70 57.3% 52.4% 50% 51.7% 54.5% 43.0% 45.5% 49.0% 60 49.1% 48.4% 40% 50 29.6% 30% 40 20% 22% 30 $42.0 $44.4 $42.7 78% $32.5 10% 20 $21.8 $9.7 $8.3
Slide 17: Steady Operational Efficiency
Steady Operational Efficiency (Nasdaq: UCL) Operating expenses(1) US$mm R&D (3) G&A 19% 15% 27% 26% $50.0 $47.1 120% $45.0 $40.4 S&M $40.8 55% 100% 59% $40.0 35.0 120% $34.4 $34.6 $35.0 30.0 80% 100% $30.0 64% 25.0 80% $25.0 60% 48% 20.0 $20.0 40% 64% 60% 50% 40% 15.0 53% $15.0 45% $9.9 $10.8 40% 1
Slide 18: Asset Light Business Model
Asset Light Business Model (Nasdaq: UCL) Operating Cash Flow US$mm $9.2 $6.5 $4.4 $3.2 $0.2 2021 2022 2023 2024 2025 Q1'25 Q1'26 $(8.7) $(21.7) $5.00 6.0% 4.4% $4.50 CAPEX US$mm 5.0% $4.00 4.0% $3.50 2.4% 3.0% $3.00 1.2% 1.3% 2.0% $2.50 0.6% 1.0% $2.00 $4.0 1.6% $1.50 0.0% 0.2% $1.00 $2.1 -1.0% $0.5
Slide 19: 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) $6.3 (1) $2.8 $5.0 $(5.0) 2021 2022 2023 2024 2025 $(5.0) Q1'25 Q1'26(1) $(0.6)(1) $(25.0) $(19.9) (1) $(15.0) $(3.5) $(45.0) (1) $(25.0) $(46.0) $(65.0) Adjusted EBITDA (non-GAAP) US$mm $(35.0) $9
Slide 20: Q&A
Q&A
Slide 21: Appendix
CG uCloudlink Appendix
Slide 22: 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 23: 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 24: 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 25: 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 26: 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 27: 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 28: 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 29: 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 212 173 R&D Staff 178 business development, Across 64 Countries and Knowhow Sales
Slide 30: 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 31: 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 397 MNOs (3) Globally 212 Patents (1) Software-based Ready to Support All Three Generations of our Businesses Notes: 1. As of March 3
Slide 32: 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 33: 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 34: Financial Statement
Financial Statement (Nasdaq: UCL) 34
Slide 35: Financial Statement
Financial Statement (Nasdaq: UCL) 35
Slide 36: Financial Statement
Financial Statement (Nasdaq: UCL) 36