uCloudlink Group, Inc. (NASDAQ:UCL) Q2 2024 Earnings Conference Call August 14, 2024 8:30 AM ET

Company Participants

Daniel Gao - Investor Relations
Zhiping Peng - Co-Founder and Chairman
Chaohui Chen - Director and CEO
Yimeng Shi - CFO

Conference Call Participants

Theodore O'Neill - Litchfield Hills Research

Operator

Good day, and welcome to the uCloudlink Second Quarter 2024 Earnings Conference Call. All participants will be in the listen-only mode. [Operator Instructions]. Please note, this event is being recorded.

I would now like to turn the conference over to Daniel Gao. Please go ahead.

Daniel Gao

Okay, thank you. Hello everyone, and thank you for joining us on uCloudlink's second quarter 2024 earnings call. The earnings release and our release presentation are now available on our IR website at ir.ucloudlink.com. Joining me on today's call are Mr. Zhiping Peng, Co-Founder and the Chairman of Board of directors, Mr. Chaohui Chen, co-Founder, Director, and the Chief Executive Officer, and Mr. Yimeng Shi, Chief Financial Officer. Mr. Chen will begin with an overview of our recent business highlights. Mr. Shi will then discuss our financial and operational highlights for the quarter. They will both be available to take your questions in the Q&A section that follows.

Before we proceed, please note that this call may contain forward-looking statements made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's current expectations and observations that involve known and unknown risks, uncertainties and other factors not under the company's control, which may cause actual results, performance or achievements of the company to be materially different from the results, performance or expectations implied by those forward-looking statements. All forward-looking statements are expressly qualified in their entirety by the cautionary statements, risk factors and details of the company's filings with the SEC.

The company does not assume any obligation to revise or update any forward-looking statements, as a result of new information, future events, changes in market conditions or otherwise, except as required by law. Please also note that uCloudlink's earnings press release and this conference call include discussions of unaudited GAAP financial information and unaudited non-GAAP financial measures. uCloudlink's press release contains a reconciliation of the unaudited non-GAAP measures to the most directly comparable unaudited GAAP measures.

I will now turn the call over to Mr. Chen. Please go ahead.

Chaohui Chen

Thank you, Daniel. And good morning or evening, everyone. Continuing the story start, we have early in this year, growth momentum carried into the second quarter with the total revenue reaching U.S$22.4 million in line with the guidance. Our financial position is improving with net income reaching U.S$2.2 million and the operating cash flow increasing 38.3% year-over-year to US$4.7 million.