UTStarcom Reports Unaudited Financial Results for Second Half and Full Year 2024
UTStarcom (NASDAQ: UTSI) reported its unaudited financial results for 2H and full year 2024. The company secured a significant multi-million dollar RFP win from China Telecom Research Institute for manufacturing 5G transport network routers. Despite this milestone, financial results showed declining performance.
Key financial metrics for FY2024:
- Total revenues decreased 31.0% to $10.9 million
- Net equipment sales fell 69.4% to $1.4 million
- Services revenue declined 15.1% to $9.5 million
- Gross profit margin decreased to 26.7%
- Operating loss widened to $7.3 million
- Net loss increased to $4.4 million ($0.48 per share)
The company ended 2024 with $53.1 million in cash, cash equivalents and restricted cash. Frame agreements for the China Telecom project were signed in early 2025, with purchase orders expected throughout 2025.
UTStarcom (NASDAQ: UTSI) ha riportato i risultati finanziari non auditati per il secondo semestre e l'intero anno 2024. L'azienda ha ottenuto una significativa vittoria in un RFP multimilionario dall'Istituto di Ricerca della China Telecom per la produzione di router per reti di trasporto 5G. Nonostante questo traguardo, i risultati finanziari hanno mostrato un calo delle performance.
Principali metriche finanziarie per l'anno fiscale 2024:
- I ricavi totali sono diminuiti del 31,0% a 10,9 milioni di dollari
- Le vendite nette di attrezzature sono calate del 69,4% a 1,4 milioni di dollari
- I ricavi da servizi sono diminuiti del 15,1% a 9,5 milioni di dollari
- Il margine di profitto lordo 猫 sceso al 26,7%
- La perdita operativa 猫 aumentata a 7,3 milioni di dollari
- La perdita netta 猫 aumentata a 4,4 milioni di dollari (0,48 dollari per azione)
L'azienda ha chiuso il 2024 con 53,1 milioni di dollari in contante, equivalenti di contante e contante vincolato. Gli accordi quadro per il progetto China Telecom sono stati firmati all'inizio del 2025, con ordini di acquisto previsti per tutto il 2025.
UTStarcom (NASDAQ: UTSI) inform贸 sus resultados financieros no auditados para el segundo semestre y el a帽o completo 2024. La compa帽铆a asegur贸 una importante victoria en un RFP multimillonario del Instituto de Investigaci贸n de China Telecom para la fabricaci贸n de enrutadores de red de transporte 5G. A pesar de este hito, los resultados financieros mostraron un rendimiento en declive.
M茅tricas financieras clave para el a帽o fiscal 2024:
- Los ingresos totales disminuyeron un 31,0% a 10,9 millones de d贸lares
- Las ventas netas de equipos cayeron un 69,4% a 1,4 millones de d贸lares
- Los ingresos por servicios disminuyeron un 15,1% a 9,5 millones de d贸lares
- El margen de beneficio bruto disminuy贸 al 26,7%
- La p茅rdida operativa se ampli贸 a 7,3 millones de d贸lares
- La p茅rdida neta aument贸 a 4,4 millones de d贸lares (0,48 d贸lares por acci贸n)
La compa帽铆a finaliz贸 2024 con 53,1 millones de d贸lares en efectivo, equivalentes de efectivo y efectivo restringido. Los acuerdos marco para el proyecto de China Telecom se firmaron a principios de 2025, con 贸rdenes de compra esperadas a lo largo de 2025.
UTStarcom (NASDAQ: UTSI)電� 2024雲� 頃橂皹旮� 氚� 鞐瓣皠 臧愳偓氚涭 鞎婌潃 鞛 瓴瓣臣毳� 氚滍憸頄堨姷雼堧嫟. 鞚� 須岇偓電� 5G 鞝勳啞 雱ろ姼鞗岉伂 霛检毎韯� 鞝滌“毳� 鞙勴暣 China Telecom Research Institute搿滊秬韯� 靾橂氨毵� 雼煬 攴滊鞚� 欷戩殧頃� RFP 靾橃＜毳� 頇曤炒頄堨姷雼堧嫟. 鞚措煬頃� 鞚挫爼響滌棎霃� 攵堦惮頃橁碃 鞛 瓴瓣臣電� 靹标臣臧� 臧愳唽頃橁碃 鞛堨潓鞚� 氤挫棳欤检棃鞀惦媹雼�.
2024 須岅硠鞐半弰 欤检殧 鞛 歆�響�:
- 齑� 靾橃澋鞚� 1,090毵� 雼煬搿� 31.0% 臧愳唽頄堨姷雼堧嫟.
- 鞛ル箘 靾� 韺愲Г電� 140毵� 雼煬搿� 69.4% 臧愳唽頄堨姷雼堧嫟.
- 靹滊箘鞀� 靾橃澋鞚� 950毵� 雼煬搿� 15.1% 臧愳唽頄堨姷雼堧嫟.
- 齑� 鞚挫澋毳犾潃 26.7%搿� 臧愳唽頄堨姷雼堧嫟.
- 鞖挫榿 靻愳嫟鞚� 730毵� 雼煬搿� 頇曤寑霅橃棃鞀惦媹雼�.
- 靾� 靻愳嫟鞚� 440毵� 雼煬(欤茧嫻 0.48雼煬)搿� 歃濌皜頄堨姷雼堧嫟.
須岇偓電� 2024雲勳潉 5,310毵� 雼煬鞚� 順勱笀, 順勱笀靹� 鞛愳偘 氚� 鞝滍暅霅� 順勱笀鞙茧 毵堦皭頄堨姷雼堧嫟. China Telecom 頂勲鞝濏姼鞐� 雽�頃� 頂勲爤鞛� 瓿勳暯鞚� 2025雲� 齑堨棎 觳搓舶霅橃棃鞙茧┌, 2025雲� 雮措偞 甑Г 欤茧鞚� 鞓堨儊霅╇媹雼�.
UTStarcom (NASDAQ: UTSI) a annonc茅 ses r茅sultats financiers non audit茅s pour le second semestre et l'ann茅e enti猫re 2024. L'entreprise a remport茅 un important contrat RFP de plusieurs millions de dollars de l'Institut de Recherche de China Telecom pour la fabrication de routeurs de r茅seau de transport 5G. Malgr茅 cette 茅tape, les r茅sultats financiers ont montr茅 une performance en d茅clin.
M茅triques financi猫res cl茅s pour l'exercice 2024 :
- Les revenus totaux ont diminu茅 de 31,0 % 脿 10,9 millions de dollars
- Les ventes nettes d'茅quipements ont chut茅 de 69,4 % 脿 1,4 million de dollars
- Les revenus de services ont baiss茅 de 15,1 % 脿 9,5 millions de dollars
- La marge brute a diminu茅 脿 26,7 %
- La perte d'exploitation s'est creus茅e 脿 7,3 millions de dollars
- La perte nette a augment茅 脿 4,4 millions de dollars (0,48 dollar par action)
L'entreprise a termin茅 2024 avec 53,1 millions de dollars en esp猫ces, 茅quivalents de liquidit茅s et liquidit茅s restreintes. Des accords-cadres pour le projet China Telecom ont 茅t茅 sign茅s au d茅but de 2025, avec des commandes d'achat attendues tout au long de 2025.
UTStarcom (NASDAQ: UTSI) hat seine ungepr眉ften Finanzergebnisse f眉r das zweite Halbjahr und das Gesamtjahr 2024 ver枚ffentlicht. Das Unternehmen sicherte sich einen bedeutenden multimillionenschweren RFP-Gewinn vom China Telecom Research Institute zur Herstellung von 5G-Transportnetz-Routern. Trotz dieses Meilensteins zeigten die Finanzergebnisse eine r眉ckl盲ufige Leistung.
Wichtige Finanzkennzahlen f眉r das Gesch盲ftsjahr 2024:
- Der Gesamtumsatz sank um 31,0% auf 10,9 Millionen Dollar
- Die Nettoums盲tze aus dem Verkauf von Ger盲ten fielen um 69,4% auf 1,4 Millionen Dollar
- Die Dienstleistungserl枚se verringerten sich um 15,1% auf 9,5 Millionen Dollar
- Die Bruttomarge verringerte sich auf 26,7%
- Der operative Verlust weitete sich auf 7,3 Millionen Dollar aus
- Der Nettoverlust erh枚hte sich auf 4,4 Millionen Dollar (0,48 Dollar pro Aktie)
Das Unternehmen schloss das Jahr 2024 mit 53,1 Millionen Dollar in bar, liquiden Mitteln und eingeschr盲nkten Mitteln ab. Rahmenvereinbarungen f眉r das China Telecom-Projekt wurden Anfang 2025 unterzeichnet, wobei im Laufe des Jahres 2025 mit Bestellungen gerechnet wird.
- Won major multi-million dollar RFP from China Telecom Research Institute for 5G transport network routers
- Strong cash position of $53.1 million
- Completed development of customized NetRing TN704ES product for European mobile operator
- Net interest income increased to $2.8 million from $2.2 million
- Total revenues declined 31.0% to $10.9 million in 2024
- Net equipment sales dropped 69.4% to $1.4 million
- Operating loss widened to $7.3 million from $6.8 million
- Net loss increased to $4.4 million ($0.48 per share) from $3.9 million
- Gross profit margin decreased to 26.7% from 27.9%
Insights
UTStarcom's financial results show serious deterioration with total revenues dropping 31% to
Gross margins have deteriorated across both business segments, with equipment gross margin falling to
The silver lining is UTStarcom's solid cash position of
UTStarcom's win with China Telecom Research Institute represents a strategic breakthrough for their 5G transport network portfolio. The contract for manufacturing carrier-grade disaggregated routers for China Telecom's STN (metropolitan area network) positions them in a critical infrastructure segment supporting 5G mobile services, enterprise connectivity, and cloud services.
The disaggregated router approach is particularly noteworthy as it aligns with the industry shift toward more flexible network architectures. With frame agreements already signed and orders expected throughout 2025, this represents a meaningful validation of UTStarcom's technology development efforts after what appears to be years of R&D investment in next-generation products.
Their progress with European telecom operators through the customized NetRing TN704ES product shows potential geographic diversification beyond their traditional Asian markets. However, the company's declining activity in India 鈥� previously a key market 鈥� raises concerns about their ability to maintain existing customer relationships while pursuing new opportunities.
The
HANGZHOU, China, March 24, 2025 (GLOBE NEWSWIRE) -- UTStarcom (the Company) (NASDAQ: UTSI), a global telecommunications infrastructure provider, today reported its unaudited financial results for the six months and full year ended December 31, 2024, and provided a business update.
Business Update
- China Telecom Research Institute RFP win. The second half of 2024 marked a major milestone for UTStarcom's 5G transport network portfolio. The Company鈥檚 commitment to the development of a next generation disaggregated 5G transport network solution and our cooperation with some of the major mobile operators in China, culminated in a significant win of a multi-million dollar China Telecom Research Institute RFP for manufacturing 5G transport network routers. The equipment is intended for use on China Telecom鈥檚 STN network 鈥� China Telecom鈥檚 metropolitan area network, which is crucial for supporting its 5G mobile network services, as well as enterprise, broadband, cloud and other services. The RFP covers the manufacturing of a substantial quantity of carrier-grade disaggregated routers hardware. The related frame agreements were signed in early 2025. Specific product quantities will be defined in purchase orders expected throughout 2025.
- Cooperation with a Mobile Network Operator customer in Europe. UTStarcom completed the development of a customized version of the NG-PTN product, NetRing TN704ES, specifically tailored to better support the customer's future network expansion plans. Samples of the product have been provided to the customer for testing. We anticipate receiving orders for this product in 2025.
- Post-sale support services to customers globally. The Company continued to provide support to its customers around the world in accordance with existing support and maintenance contracts for products such as NetRing PTN, SyncRing, IMS, SSTP, etc. Furthermore, in 2H 2024, the Company also received renewal orders for post-sale support pertaining to NG-PTN and MSAN products.
UTStarcom鈥檚 Chief Executive Officer Mr. Hua Li commented, 鈥淲e have made important progresses by winning RFP from one of the major telecom operators in China; and we are also enhancing our co-operations with other business partners to expand the deployment of our products. We expect these progresses will bring improvements to our business.鈥�
Second Half and Full Year 2024 Financial Results (Unaudited)
Summary of 2H 2024 Key Financials (Unaudited)
| 听 | 2H 2024 | 2H 2023 | Y/Y Change | ||
| Revenue | - | ||||
| Gross Profit | - | ||||
| Operating Expenses | - | ||||
| Operating Loss | ( | ( | ( | ||
| Net Loss | ( | ( | ( | ||
| Basic EPS | ( | ( | ( | ||
| Cash Balance (including Restricted Cash) | - | ||||
Summary of Full Year 2024 Key Financials (Unaudited)
| 听 | 2024 | 2023 | Y/Y Change |
| Revenue | - | ||
| Gross Profit | - | ||
| Operating Expenses | - | ||
| Operating Loss | ( | ( | ( |
| Net Loss | ( | ( | ( |
| Basic EPS | ( | ( | ( |
| Cash Balance (including Restricted Cash) | - |
* Dollar comparisons are used where percentage comparisons are not meaningful.
* All amounts are in U.S. Dollars millions except for Earnings Per Share (EPS)
Total Revenues
Six months ended December 31, 2024
Total revenues for the second half of 2024 were
- Net equipment sales for the second half of 2024 were
$0.6 million , a decrease of82.9% from$3.6 million in the corresponding period in 2023. The decrease was mainly due to decreased revenue from customers in India. - Net services sales for the second half of 2024 were
$4.6 million , a decrease of19.4% from$5.6 million in the corresponding period in 2023. The decrease was mainly due to the completion of current projects and no new major projects in India.
Twelve months ended December 31, 2024
2024 total revenues were
- 2024 net equipment sales were
$1.4 million , a decrease of69.4% from$4.6 million in the corresponding period in 2023. The decrease was mainly due to decreased revenue from customers in India.听 - 2024 net services sales were
$9.5 million , a decrease of15.1% from$11.2 million in 2023. The decrease was mainly due to the completion of current projects and no new major projects in India.
Gross Profit
Six months ended December 31, 2024
Gross profit was
- Equipment gross profit for the second half of 2024 was
$0.1 million , compared to$0.8 million in the corresponding period in 2023. Equipment gross margin for the second half of 2024 was16.2% , compared to21.0% for the corresponding period in 2023. The decrease in gross margin was attributed to a lower equipment revenue in 2024. - Service gross profit for the second half of 2024 was
$1.1 million , compared to$1.8 million in the corresponding period in 2023. Service gross margin for the second half of 2024 was24.0% , compared to32.2% for the corresponding period in 2023, due to decreased activity with the major customers in India and China.
Twelve months ended December 31, 2024
2024 gross profit was
- 2024 equipment gross profit was
$0.2 million , compared to$0.9 million in 2023. 2024 equipment gross margin was13.0% , compared to20.2% in 2023. The decrease in gross margin was attributed to a lower equipment revenue in 2024.听 - 2024 service gross profit was
$2.7 million , compared to$3.5 million in 2023. 2024 service gross margin was28.7% , compared to31.0% in 2023, due to decreased activity with the major customers in India and China.
Operating Expenses
Six months ended December 31, 2024
Operating expenses for the second half of 2024 were
- Selling, general and administrative (鈥淪G&A鈥�) expenses for the second half of 2024 were
$2.4 million , compared to$2.4 million in the corresponding period in 2023.听 - Research and development (鈥淩&D鈥�) expenses for the second half of 2024 were
$2.5 million , compared to$3.0 million in the corresponding period in 2023. The decrease reflected the different stages of 5G product development.
Twelve months ended December 31, 2024
2024 operating expenses were
- 2024 SG&A expenses were
$5.1 million , compared to$5.3 million in 2023. The decrease was mainly attributable to decreased personnel cost as a result of the reduction of personnel.听 - 2024 R&D expenses were
$5.1 million , compared to$5.9 million in 2023. The decrease reflected the different stages of 5G product development.
Operating Loss
Operating loss for the second half of 2024 was
Full year 2024 operating loss was
Interest Income, Net
Net interest income for the second half of 2024 was
Full year 2024 net interest income was
Other Income (Expenses), Net
Net other income for the second half of 2024 was
Full year 2024 net other income was
Net Loss
Net loss attributable to shareholders for the second half of 2024 was
Full year 2024 net loss attributable to shareholders was
Cash Flow
Cash used in operating activities in the second half of 2024 was
About UTStarcom Holdings Corp.
UTStarcom is committed to helping network operators offer their customers the most innovative, reliable and cost-effective communication services. UTStarcom offers high performance advanced equipment optimized for the most rapidly growing network functions, such as mobile backhaul, metro aggregation and broadband access. UTStarcom has operations and customers around the world, with a special focus on Japan, India and China. UTStarcom was founded in 1991 and listed its shares on the Nasdaq Market in 2000 (symbol: UTSI). For more information about UTStarcom, please visit .
Forward-Looking Statements
This press release includes forward-looking statements, including statements regarding the Company鈥檚 strategic initiatives and the Company鈥檚 business outlook. These statements are forward-looking in nature and subject to risks and uncertainties that may cause actual results to differ materially and adversely from the Company鈥檚 current expectations. These include risks and uncertainties related to, among other things, the effect of the COVID-19 pandemic on the Company鈥檚 business, changes in the financial condition and cash position of the Company, changes in the composition of the Company鈥檚 management and their effect on the Company, the Company鈥檚 ability to realize anticipated results of operational improvements and benefits of the divestiture transaction, the ability to successfully identify and acquire appropriate technologies and businesses for inorganic growth and to integrate such acquisitions, the ability to internally innovate and develop new products, assumptions the Company makes regarding the growth of the market and the success of the Company鈥檚 offerings in the market and the Company鈥檚 ability to execute its business plan and manage regulatory matters. The risks and uncertainties also include the risk factors identified in the Company鈥檚 latest annual report on Form 20-F and current reports on Form 6-K as filed with the Securities and Exchange Commission. The Company is in a period of strategic transition and the conduct of its business is exposed to additional risks as a result. All forward-looking statements included in this press release are based upon information available to the Company as of the date of this press release, which may change and the Company assumes no obligation to update any such forward-looking statements.
For investor and media inquiries, please contact:
UTStarcom Holdings Corp.
Tel: +86 571 8192 8888
Ms. Shelley Jiang, Investor Relations
Email: [email protected]/ [email protected] /
| UTStarcom Holdings Corp. Unaudited Condensed Consolidated Balance Sheets | ||||||||
| 听 | 听 | |||||||
| 听 | 听 | December听31, | 听 | 听 | December听31, | 听 | ||
| 听 | 听 | 2024 | 听 | 听 | 2023 | 听 | ||
| 听 | 听 | (In thousands) | 听 | |||||
| ASSETS | 听 | 听 | 听 | 听 | 听 | 听 | ||
| Current assets: | 听 | 听 | 听 | 听 | 听 | 听 | ||
| Cash and cash equivalents | 听 | $ | 43,913 | 听 | 听 | $ | 49,968 | 听 |
| Notes receivable, net | 听 | 听 | 659 | 听 | 听 | 听 | 490 | 听 |
| Short-term investments | 听 | 听 | 165 | 听 | 听 | 听 | 鈥� | 听 |
| Accounts receivable, net | 听 | 听 | 4,849 | 听 | 听 | 听 | 8,380 | 听 |
| Inventories and deferred costs | 听 | 听 | 2,156 | 听 | 听 | 听 | 886 | 听 |
| Short-term restricted cash | 听 | 听 | 6,824 | 听 | 听 | 听 | 7,117 | 听 |
| Prepaid and other current assets | 听 | 听 | 4,454 | 听 | 听 | 听 | 3,755 | 听 |
| Total current assets | 听 | 听 | 63,020 | 听 | 听 | 听 | 70,596 | 听 |
| Long-term assets: | 听 | 听 | 听 | 听 | 听 | 听 | ||
| Property, plant and equipment, net | 听 | 听 | 476 | 听 | 听 | 听 | 610 | 听 |
| Operating lease right-of-use assets, net | 听 | 听 | 1,399 | 听 | 听 | 听 | 2,649 | 听 |
| Long-term restricted cash | 听 | 听 | 2,406 | 听 | 听 | 听 | 2,562 | 听 |
| Other long-term assets | 听 | 听 | 848 | 听 | 听 | 听 | 1,063 | 听 |
| Total long-term assets | 听 | 听 | 5,129 | 听 | 听 | 听 | 6,884 | 听 |
| Total assets | 听 | $ | 68,149 | 听 | 听 | $ | 77,480 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||
| LIABILITIES AND EQUITY | 听 | 听 | 听 | 听 | 听 | 听 | ||
| Current liabilities: | 听 | 听 | 听 | 听 | 听 | 听 | ||
| Accounts payable | 听 | $ | 6,957 | 听 | 听 | $ | 7,959 | 听 |
| Customer advances | 听 | 听 | 769 | 听 | 听 | 听 | 226 | 听 |
| Deferred revenue | 听 | 听 | 62 | 听 | 听 | 听 | 72 | 听 |
| Income tax payable | 听 | 听 | 8,163 | 听 | 听 | 听 | 8,509 | 听 |
| Operating lease liabilities, current | 听 | 听 | 1,084 | 听 | 听 | 听 | 1,184 | 听 |
| Other current liabilities | 听 | 听 | 4,342 | 听 | 听 | 听 | 5,438 | 听 |
| Total current liabilities | 听 | 听 | 21,377 | 听 | 听 | 听 | 23,388 | 听 |
| Long-term liabilities: | 听 | 听 | 听 | 听 | 听 | 听 | ||
| Operating lease liabilities, non-current | 听 | 听 | 504 | 听 | 听 | 听 | 1,660 | 听 |
| Long-term deferred revenue and other liabilities | 听 | 听 | 1,042 | 听 | 听 | 听 | 1,049 | 听 |
| Total liabilities | 听 | 听 | 22,923 | 听 | 听 | 听 | 26,097 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||
| Total equity | 听 | 听 | 45,226 | 听 | 听 | 听 | 51,383 | 听 |
| Total liabilities and equity | 听 | $ | 68,149 | 听 | 听 | $ | 77,480 | 听 |
| UTStarcom Holdings Corp. Unaudited Condensed Consolidated Statements of Operations | ||||||||||||||||
| 听 | 听 | 听 | 听 | 听 | 听 | |||||||||||
| 听 | 听 | Six months ended December 31, | 听 | 听 | Twelve months ended December 31, | |||||||||||
| 听 | 听 | 2024 | 听 | 听 | 2023 | 听 | 听 | 2024 | 听 | 听 | 2023 | 听 | ||||
| 听 | 听 | (In thousands, except per share data) | ||||||||||||||
| Net sales | 听 | $ | 5,159 | 听 | 听 | $ | 9,239 | 听 | 听 | $ | 10,878 | 听 | 听 | $ | 15,753 | 听 |
| Cost of net sales | 听 | 听 | 3,968 | 听 | 听 | 听 | 6,670 | 听 | 听 | 听 | 7,972 | 听 | 听 | 听 | 11,363 | 听 |
| Gross profit | 听 | 听 | 1,191 | 听 | 听 | 听 | 2,569 | 听 | 听 | 听 | 2,906 | 听 | 听 | 听 | 4,390 | 听 |
| 听 | 听 | 听 | 23.1 | % | 听 | 听 | 27.8 | % | 听 | 听 | 26.7 | % | 听 | 听 | 27.9 | % |
| Operating expenses: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Selling, general and administrative | 听 | 听 | 2,412 | 听 | 听 | 听 | 2,426 | 听 | 听 | 听 | 5,152 | 听 | 听 | 听 | 5,318 | 听 |
| Research and development | 听 | 听 | 2,510 | 听 | 听 | 听 | 3,007 | 听 | 听 | 听 | 5,085 | 听 | 听 | 听 | 5,881 | 听 |
| Total operating expenses | 听 | 听 | 4,922 | 听 | 听 | 听 | 5,433 | 听 | 听 | 听 | 10,237 | 听 | 听 | 听 | 11,199 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Operating loss | 听 | 听 | (3,731 | ) | 听 | 听 | (2,864 | ) | 听 | 听 | (7,331 | ) | 听 | 听 | (6,809 | ) |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Interest income, net | 听 | 听 | 1,459 | 听 | 听 | 听 | 1,342 | 听 | 听 | 听 | 2,791 | 听 | 听 | 听 | 2,208 | 听 |
| Other income (expense), net | 听 | 听 | 49 | 听 | 听 | 听 | 112 | 听 | 听 | 听 | 855 | 听 | 听 | 听 | 2,024 | 听 |
| Loss before income taxes | 听 | 听 | (2,223 | ) | 听 | 听 | (1,410 | ) | 听 | 听 | (3,685 | ) | 听 | 听 | (2,577 | ) |
| Income tax expense | 听 | 听 | (129 | ) | 听 | 听 | (430 | ) | 听 | 听 | (683 | ) | 听 | 听 | (1,274 | ) |
| Net loss attributable to UTStarcom听Holdings Corp. | 听 | $ | (2,352 | ) | 听 | $ | (1,840 | ) | 听 | $ | (4,368 | ) | 听 | $ | (3,851 | ) |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Net loss per share attributable to听UTStarcom Holdings Corp.鈥擝asic | 听 | $ | (0.26 | ) | 听 | $ | (0.20 | ) | 听 | $ | (0.48 | ) | 听 | $ | (0.42 | ) |
| Weighted average shares outstanding鈥擝asic | 听 | 听 | 9,179 | 听 | 听 | 听 | 9,116 | 听 | 听 | 听 | 9,150 | 听 | 听 | 听 | 9,113 | 听 |
| UTStarcom Holdings Corp. Unaudited Condensed Consolidated Statements of Cash Flows | ||||||||||||||||
| 听 | 听 | 听 | 听 | 听 | 听 | |||||||||||
| 听 | 听 | Six months ended December 31, | 听 | 听 | Twelve months ended December 31, | |||||||||||
| 听 | 听 | 2024 | 听 | 听 | 2023 | 听 | 听 | 2024 | 听 | 听 | 2023 | 听 | ||||
| 听 | 听 | (In thousands) | ||||||||||||||
| CASH FLOWS FROM OPERATING ACTIVITIES: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Net loss | 听 | $ | (2,352 | ) | 听 | $ | (1,840 | ) | 听 | $ | (4,368 | ) | 听 | $ | (3,851 | ) |
| Depreciation | 听 | 听 | 138 | 听 | 听 | 听 | 114 | 听 | 听 | 听 | 275 | 听 | 听 | 听 | 230 | 听 |
| Recovery of credit losses | 听 | 听 | (37 | ) | 听 | 听 | (317 | ) | 听 | 听 | (39 | ) | 听 | 听 | (1,315 | ) |
| Stock-based compensation expense | 听 | 听 | 56 | 听 | 听 | 听 | 110 | 听 | 听 | 听 | 117 | 听 | 听 | 听 | 293 | 听 |
| Net gain on disposal of assets | 听 | 听 | 鈥� | 听 | 听 | 听 | 鈥� | 听 | 听 | 听 | 鈥� | 听 | 听 | 听 | (25 | ) |
| Gain on release of tax liability due to expiration of the statute of limitations | 听 | 听 | (10 | ) | 听 | 听 | (10 | ) | 听 | 听 | (21 | ) | 听 | 听 | (21 | ) |
| Lease amortization | 听 | 听 | 544 | 听 | 听 | 听 | 584 | 听 | 听 | 听 | 1,123 | 听 | 听 | 听 | 1,200 | 听 |
| Deferred income taxes | 听 | 听 | 154 | 听 | 听 | 听 | 275 | 听 | 听 | 听 | 154 | 听 | 听 | 听 | 275 | 听 |
| Changes in fair value for trading securities investment | 听 | 听 | 204 | 听 | 听 | 听 | 鈥� | 听 | 听 | 听 | (165 | ) | 听 | 听 | 鈥� | 听 |
| Changes in operating assets and liabilities | 听 | 听 | (667 | ) | 听 | 听 | 423 | 听 | 听 | 听 | (1,533 | ) | 听 | 听 | (1,264 | ) |
| Net cash used in operating activities | 听 | 听 | (1,970 | ) | 听 | 听 | (661 | ) | 听 | 听 | (4,457 | ) | 听 | 听 | (4,478 | ) |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| CASH FLOWS FROM INVESTING ACTIVITIES: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Additions to property, plant and equipment | 听 | 听 | (86 | ) | 听 | 听 | (73 | ) | 听 | 听 | (192 | ) | 听 | 听 | (255 | ) |
| Net cash used in investing activities | 听 | 听 | (86 | ) | 听 | 听 | (73 | ) | 听 | 听 | (192 | ) | 听 | 听 | (255 | ) |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| CASH FLOWS FROM FINANCING ACTIVITIES: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Proceeds from exercise of stock options | 听 | 听 | 鈥� | 听 | 听 | 听 | 鈥� | 听 | 听 | 听 | 鈥� | 听 | 听 | 听 | 4 | 听 |
| Net cash provided by financing activities | 听 | 听 | 鈥� | 听 | 听 | 听 | 鈥� | 听 | 听 | 听 | 鈥� | 听 | 听 | 听 | 4 | 听 |
| Effect of exchange rate changes on cash and cash equivalents | 听 | 听 | (839 | ) | 听 | 听 | (180 | ) | 听 | 听 | (1,855 | ) | 听 | 听 | (2,483 | ) |
| Net decrease in cash and cash equivalents | 听 | 听 | (2,895 | ) | 听 | 听 | (914 | ) | 听 | 听 | (6,504 | ) | 听 | 听 | (7,212 | ) |
| Cash, cash equivalents and restricted cash at beginning of period | 听 | 听 | 56,038 | 听 | 听 | 听 | 60,561 | 听 | 听 | 听 | 59,647 | 听 | 听 | 听 | 66,859 | 听 |
| Cash, cash equivalents and restricted cash at end of period | 听 | $ | 53,143 | 听 | 听 | $ | 59,647 | 听 | 听 | $ | 53,143 | 听 | 听 | $ | 59,647 | 听 |
FAQ
What caused UTStarcom (UTSI) revenue decline in 2024?
How significant was UTSI's China Telecom Research Institute RFP win?
What is UTStarcom's (UTSI) financial position as of December 31, 2024?
How did UTSI's gross profit margin change in 2024 compared to 2023?
