uCloudlink Group, Inc. · NASDAQ:UCL
uCloudlink — Q2 2026 Earnings Presentation
33 slides from uCloudlink's earnings presentation, August 2026
Slide 1: 2Q 2026 Earnings Conference Call Presentation
(Nasdaq: UCL) 2Q 2026 Earnings Conference Call Presentation August 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 The rapid scaling of Solve the single-multi Pioneer the Pet-Tech our 2.0 local data network divide by era, using AI to foster connectivity busi
Slide 4: Structural Shift: 2.0 Business Gaining Growth Momentum
Structural Shift: 2.0 Business Gaining Growth Momentum • Traditional business is navigating a clear transition. While international roaming remained soft due to macro headwinds, our uCloudlink 2.0 local data connectivity business (uCloudlink 2.0) is gaining strong momentum— with major contracts, par
Slide 5: IoT: Profitable Growth with Expanding Scale
IoT: Profitable Growth with Expanding Scale Installed Base Expanding, Rapid revenue growth 3.34M +277% IoT Installed Base DAU Growth YoY Units as of Q2 2026, growing rapidly Daily active users reached 57,859 in Q2 quarter over quarter 2026 +210% +392.4% MAU Growth YoY Revenues Growth YoY Monthly act
Slide 6: PetPogo AI Agent: Pet Intelligence
PetPogo AI Agent: Pet Intelligence Core Upgrade: AI Agent Comprehensive AI Perception & Management PetPogo has undergone a comprehensive upgrade to become an AI The AI agent can precisely perceive pet status and emotions, and agent, achieving a major leap in functionality and performance, intelligen
Slide 7: PetPogo: AI-Powered Pet Ecosystem
PetPhone & PetPogo: Strong Traction, Commercial Value Ahead PetPogo: AI-Powered Pet Ecosystem Strategic Repositioning Market Recognition User Momentum Evolved from PetPhone to PetPogo — an Multiple industry awards. Strong DAU +606.5% YoY to 1,519 | MAU +464.2% "AI-powered + Social" model global pet
Slide 8: GlocalMe Life & SIM: DAU Growth Comparison
GlocalMe Life & SIM: DAU Growth Comparison Key Growth Insights • GlocalMe Life Business: Q2 2025 DAU: 1,605; Q2 2026 DAU: 14,471; YoY Growth: +801.6% • GlocalMe SIM Business: Q2 2025 DAU: 7,552; Q2 2026 DAU: 17,519; YoY Growth: +132.0% Our eSIM business is gaining strong momentum, leading the market
Slide 9: GlocalMe MeowGo G50 Max: Sky-to-Ground Connectivity
GlocalMe MeowGo G50 Max: Sky-to-Ground Connectivity 5G coverage in nearly 100 countries Premium connectivity across the most countries, including in-flight World’s leading Integrated Sky-to-Ground Mobile Wi-Fi Hub Seamlessly integrating space, air, and ground networks Pioneering in the Premium MiFi
Slide 10: Operational Highlights
Operational Highlights (Nasdaq: UCL) Daily Active Terminals (DAT) (1) Average daily active terminals (“DAT”) (1) Monthly Active Users (“MAU”) (2) # Terminals 47K 90K 619K 349,674 302K 71K 274K +54% 557K 320,499 308,917 304,845 297,082 +210% 46K 268,798 +442% 29K +43% 24K 12K 9K 9K +600% 196,493 +1,3
Slide 11: 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% 20% 14.8% 17.9% 20.2% 13.8% 13.6% 15.3% 13.5% 33% 28% 38% 37.8% 33.6% 36.0% 47.4% 43% 49% 39% 31.5% 33.2% 30.3% 24.0% 13% 5% 3% 2021 2022 2023 2024 2025 Q2'25
Slide 12: 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% $19.4 $18.2 -5.9%1 51% 24% 27% 4.2%2 76% 73% -9.2%3 2021 2022 2023 2024 2025 Q2'25 Q2'26 Note: Revenue from Services Revenue from Sales of Products 1. Q2 2026 total revenues YoY% 2. Q2 20
Slide 13: Revenue Segmentation
Revenue Segmentation (Nasdaq: UCL) PaaS and SaaS services PaaS and SaaS services Revenues 13.6% Revenues 13.6% 2.0 local data 1.0 international 2.0 local data 1.0 international connectivity services data connectivity connectivity services data connectivity revenues 7.8% 75.5% services and other serv
Slide 14: Gross Margin from Services Consistently Higher than Overall Gross Margin
Gross Margin from Services Consistently Higher than Overall Gross Margin (Nasdaq: UCL) Gross Profit US$mm Gross margin 70% 60.8% 80 58.5% 58.0% 60% 56.0% 70 56.6% 59.1% 52.4% 50% 52.8% 43.0% 45.5% 49.0% 60 50.2% 48.4% 40% 50 29.6% 30% 40 20% 22% 30 $42.0 $44.4 $42.7 78% $32.5 10% 20 $21.8 $10.2 $9.2
Slide 15: Steady Operational Efficiency
Steady Operational Efficiency (Nasdaq: UCL) Operating expenses(1) US$mm R&D (3) G&A 19% 18% 27% 24% $50.0 $47.1 120% $45.0 $40.4 S&M $40.8 55% 100% 58% $40.0 35.0 120% $34.4 $34.6 $35.0 30.0 80% 100% $30.0 64% 25.0 80% $25.0 48% 60% 63% 20.0 52% $20.0 40% 60% 50% 40% 15.0 $15.0 45% $11.5 $10.1 40%
Slide 16: Asset Light Business Model
Asset Light Business Model (Nasdaq: UCL) Operating Cash Flow US$mm $9.2 $6.5 $4.4 $3.2 2021 2022 2023 2024 2025 Q2'25 Q2'26 $(0.9) $(3.0) $(21.7) $5.00 6.0% 4.4% $4.50 CAPEX US$mm 5.0% 2.5 $4.00 4.0% $3.50 2.4% 3.0% 2 $3.00 1.2% 1.3% 2.0% $2.50 0.6% 1.0% 1.5 $2.00 $4.0 1.0% 0.2% $1.50 0.0% 1 $1.00 $
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) $6.3 (1) $2.8 $5.0 $0.7 (1) $(5.0) 2021 2022 2023 2024 2025 $(5.0) Q2'25 Q2'26 (1) $(25.0) $(19.9) (1) $(15.0) $(3.0) $(45.0) (1) $(25.0) $(46.0) $(65.0) Adjusted EBITDA (non-GAAP) US$mm $(35.0) $9
Slide 18: Q&A
Q&A
Slide 19: Appendix
CG uCloudlink Appendix
Slide 20: 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 21: 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 22: 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 23: 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 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 212 177 R&D Staff 175 business development, Across 64 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 398 MNOs (3) Globally 212 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
Slide 33: Financial Statement
Financial Statement (Nasdaq: UCL) 33