UTSTARCOM HOLDINGS CORP. UTSI
We are a leading provider of interactive, Protocol ("IP")-based network solutions including the integration and support services in
Internet Protocol TV ("IPTV"), Interactive ("iD")TV, Internet TV and Broadband for cable and telecom operators. Our focus is to design and sell IP-based telecommunications infrastructure
products including our primary product suite of IPTV, and broadband solutions along with the ongoing services relating to the installation, operation and maintenance of these products. Collectively
our range of solutions is designed to expand and modernize telecommunications networks through smooth network system integration, lower operating costs and increased broadband access. We also provide
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9.0M | $10.9M | $15.8M | $14.1M | $15.9M | $24.3M | $65.6M | $115.9M | $98.3M | $86.5M |
| Cost of revenue | $7.9M | $8.0M | $11.4M | $11.4M | $17.0M | $20.8M | $41.5M | $83.7M | $65.1M | $58.2M |
| Gross profit | $1.1M | $2.9M | $4.4M | $2.7M | -$1.1M | $3.5M | $24.2M | $32.3M | $33.1M | $28.4M |
| R&D | $4.6M | $5.1M | $5.9M | $4.8M | $6.9M | $8.1M | $14.5M | $12.7M | $9.9M | $8.5M |
| SG&A | — | — | — | — | — | $18.7M | $15.8M | $15.2M | $16.8M | $18.1M |
| Total operating expenses | $9.6M | $10.2M | $11.2M | $7.1M | $4.2M | $26.8M | $30.3M | $27.9M | $26.6M | $26.6M |
| Operating income | -$8.6M | -$7.3M | -$6.8M | -$4.4M | -$5.3M | -$23.2M | -$6.1M | $4.4M | $6.5M | $1.7M |
| Interest expense | — | — | — | — | — | $10.0K | $16.0K | $47.0K | $48.0K | $55.0K |
| Pre-tax income | -$6.3M | -$3.7M | -$2.6M | -$2.9M | -$2.5M | -$25.5M | -$3.9M | $4.4M | $8.2M | $920.0K |
| Income tax | $1.6M | $683.0K | $1.3M | $2.1M | $3.3M | $1.8M | $31.0K | $378.0K | $1.3M | $788.0K |
| Net income | -$8.0M | -$4.4M | -$3.9M | -$5.0M | -$5.8M | -$23.7M | -$3.9M | $4.8M | $7.0M | $132.0K |
| EPS, basic | -0.87 | -0.48 | -0.42 | -0.55 | -0.65 | -2.64 | -0.11 | 0.14 | 0.20 | 0.01 |
| EPS, diluted | -0.87 | -0.48 | -0.42 | -0.55 | -0.65 | -2.64 | -0.11 | 0.13 | 0.19 | 0.01 |
| Shares, diluted (wtd. avg.) | 9.2M | 9.2M | 9.1M | 9.1M | 9.0M | 9.0M | 35.6M | 36.3M | 36.2M | 36.4M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $33.8M | $43.9M | $50.0M | $66.9M | $66.3M | $48.4M | $48.6M | $73.7M | $100.7M | $98.6M |
| Short-term investments | $701.0K | $165.0K | — | — | — | $2.1M | — | — | — | — |
| Receivables | — | $4.8M | $8.4M | $11.9M | $27.4M | $49.6M | $77.8M | $60.7M | $16.9M | $18.3M |
| Inventory | $1.3M | $1.9M | $795.0K | $1.3M | $1.5M | $6.7M | $6.1M | $26.4M | $17.1M | $22.6M |
| Total current assets | $51.6M | $63.1M | $70.6M | $81.8M | $97.8M | $109.9M | $137.1M | $160.2M | $166.8M | $163.0M |
| Property, plant and equipment | $709.0K | $476.0K | $610.0K | $604.0K | $602.0K | $620.0K | $1.1M | $1.3M | $1.7M | $1.6M |
| Total assets | $55.9M | $68.2M | $77.5M | $89.2M | $108.3M | $118.7M | $151.3M | $177.4M | $187.0M | $178.7M |
| Accounts payable | $4.2M | $7.0M | $8.0M | $13.0M | $19.0M | $25.1M | $30.9M | $50.8M | $27.5M | $22.5M |
| Total current liabilities | $18.0M | $21.5M | $23.4M | $28.9M | $35.4M | $40.0M | $49.0M | $69.8M | $88.3M | $87.2M |
| Total liabilities | $19.4M | $23.0M | $26.1M | $31.8M | $39.9M | $41.3M | $52.1M | $75.3M | $96.1M | $96.0M |
| Retained earnings | -$1.27B | -$1.26B | -$1.26B | -$1.25B | -$1.25B | -$1.24B | -$1.22B | -$1.21B | -$1.23B | -$1.23B |
| Total equity | $36.5M | $45.2M | $51.4M | $57.5M | $68.4M | $77.4M | $99.2M | $102.2M | $91.0M | $82.7M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$8.8M | -$4.5M | -$4.5M | $7.3M | $19.8M | -$3.4M | -$24.1M | -$26.1M | $3.8M | $5.7M |
| Depreciation and amortisation | $207.0K | $275.0K | $230.0K | $206.0K | $372.0K | $572.0K | $644.0K | $702.0K | $628.0K | $1.2M |
| Stock-based compensation | $114.0K | $117.0K | $293.0K | $603.0K | $504.0K | $703.0K | $1.4M | $1.1M | $866.0K | $2.2M |
| Capital expenditure | $423.0K | $158.0K | $255.0K | $250.0K | $348.0K | $115.0K | $507.0K | $225.0K | $732.0K | $1.5M |
| Investing cash flow | -$1.0M | -$158.0K | -$255.0K | -$250.0K | $1.8M | $2.0M | -$507.0K | $2.2M | -$3.9M | $5.9M |
| Financing cash flow | $0 | $0 | $4.0K | $7.0K | — | -$374.0K | -$993.0K | -$2.4M | -$27.0K | -$4.4M |
| Buybacks | — | — | — | $13.0K | — | $374.0K | $1.0M | $2.5M | $140.0K | $4.1M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-177148.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $86.5M | $98.3M | $115.9M | $65.6M | $24.3M | $15.9M | $14.1M | $15.8M | $10.9M | $9.0M |
| Gross profit | $28.4M | $33.1M | $32.3M | $24.2M | $3.5M | -$1.1M | $2.7M | $4.4M | $2.9M | $1.1M |
| Net income | $132.0K | $7.0M | $4.8M | -$3.9M | -$23.7M | -$5.8M | -$5.0M | -$3.9M | -$4.4M | -$8.0M |
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