Ucloudlink Group Inc. (NASDAQ: (UCL) stock gained by 16.67% at the last close whereas the UCL stock price declined by 5.36% in the after-hours trading session. UCLOUDLINK is indeed the world’s first and largest mobile data traffic sharing marketplace, developing the telecommunications industry’s sharing economy business model.

UCL stock’ Financial Outcomes

The unaudited financial statements for the three months ending September 30, 2021, were released by UCLOUDLINK GROUP INC.

• Total sales for the third quarter of 2021 was US$19.3 million, up 7.4% from US$18.0 million in the previous year’s same quarter.
• Gross profit for the third quarter of 2021 was US$5.5 million, down 3.0% from US$5.6 million in the third quarter of 2020.
• The loss from operations for the third quarter of 2021 was US$7.0 million, compared to a loss of US$9.6 million in the previous year’s same quarter.
• For Q3 of 2021, they saw a net loss of US$7.0 million, compared to a net loss of US$9.7 million in the third quarter of 20202.
• The adjusted net loss (non-GAAP) for the third quarter of 2021 was US$6.0 million, compared to US$5.7 million in the third quarter of 2020.
• Adjusted EBITDA (non-GAAP) was negative US$5.4 million in the third quarter of 2021, relative to negative US$5.0 million the Q3 of 2020.

Future Expectations

UCLOUDLINK forecasts total revenues of between US$17.5 million and US$18.0 million in the fourth quarter of 2021, reflecting a 2.9 percent to 5.9 percent increase over the same time in 2020.

The company’s preliminary projections of the market and operational conditions, as well as client demand, are reflected in the above prognosis, which is based on current market conditions. COVID-19, which has had a serious and detrimental effect on the world economy since the first quarter of 2020, continues to pose a number of global hazards, the full extent of which is still unknown. They’ll keep a close eye on COVID-19-related elements like vaccination rollouts, which are difficult to study and anticipate and are vulnerable to change.

Business Developments

Patent infringement cases in the United States have progressed significantly. A settlement agreement was reached between us and SIMO Holdings. The originating parties in all instances between UCLOUDLINK and SIMO have made applications to dismiss these cases in accordance with the settlement agreement.