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UTSI

UTStarcom Holdings Corp.

UTSI

UTStarcom Holdings Corp. • NASDAQ
$2.50 ▲ 0.40% (+0.01)
Market Cap $23.68 M
52w High $3.00
52w Low $1.84
Dividend Yield 0%
P/E -3.73
Volume 3.53K
Outstanding Shares 9.47M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $2.317M $2.452M $-1.861M -80.319% $-0.2 $-2.026M
Q1-2025 $2.317M ▼ $2.452M ▼ $-1.861M ▼ -80.319% ▼ $-0.2 ▼ $-2.026M ▼
Q4-2024 $2.579M $2.461M $-1.176M -45.59% $-0.13 $-1.796M
Q3-2024 $2.579M ▼ $2.461M ▼ $-1.176M ▼ -45.59% ▼ $-0.13 ▼ $-1.796M ▼
Q2-2024 $2.86M $2.658M $-1.008M -35.251% $-0.11 $-1.732M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $40.528M $62.9M $20.692M $42.208M
Q1-2025 $40.528M ▼ $62.9M ▼ $20.692M ▼ $42.208M ▼
Q4-2024 $44.078M $68.2M $22.974M $45.226M
Q3-2024 $44.078M ▼ $68.2M ▼ $22.974M ▼ $45.226M ▼
Q2-2024 $46.902M $71.761M $23.396M $48.365M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $-1.861M $-2.268M $-23K $0 $0 $-2.291M
Q1-2025 $-1.861M ▼ $-2.268M ▼ $-23K ▲ $0 $0 $-2.291M ▼
Q4-2024 $-1.176M $-985K $-26K $0 $0 $-1.011M
Q3-2024 $-1.176M ▼ $-985K ▲ $-26K ▲ $0 $0 ▲ $-1.011M ▲
Q2-2024 $-1.008M $-1.244M $-53K $0 $-1.804M $-1.296M

Revenue by Products

Product Q4-2014Q1-2015Q1-2019Q4-2019
Product
Product
 $0 ▲$0 ▲$100.00M ▲$0 ▼
Service
Service
 $0 ▲$0 ▲$20.00M ▲$0 ▼
Equipment Based Services
Equipment Based Services
 $0 ▲$20.00M ▲$0 ▼$0 ▲
Equipment Segment
Equipment Segment
 $0 ▲$110.00M ▲$0 ▼$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue is very small and has stayed low for several years, with no sign of meaningful top‑line growth yet. Gross profit effectively rounds to zero, suggesting very thin margins or limited ongoing operations. Operating results have been mildly negative most years, and earnings per share have been consistently in the red, though net losses have narrowed recently to around break‑even. Multiple reverse stock splits over the past decade point to long‑term share price and scale challenges. Overall, this looks like a tiny, niche business that has struggled to turn its technology into a stable, profitable income stream.

Balance Sheet

Balance Sheet The balance sheet is simple and relatively clean. Total assets are modest, and cash makes up the bulk of them, while there is effectively no financial debt. Shareholders’ equity is positive but has edged down over time as losses accumulate, indicating gradual erosion of the capital base. The company appears liquid and conservative in its use of leverage, but it also operates on a very small asset base, which can limit growth and resilience if conditions worsen.

Cash Flow

Cash Flow Operating cash flow was modestly positive a few years ago but has flattened out to roughly break‑even more recently, echoing the income statement’s weak profitability. Free cash flow has followed a similar pattern, helped by very low capital spending, which suggests the company is running a lean operation with limited new investment. This profile implies the business is currently more about preserving cash and extending runway than about funding aggressive expansion from internal cash generation.

Competitive Edge

Competitive Edge UTStarcom occupies a narrow niche in telecom infrastructure, focusing on mobile backhaul, metro aggregation, broadband access, and especially 5G transport and synchronization. Its strengths lie in technical specialization, a “simple network, simple operation” design philosophy, and long‑standing relationships in markets like China, Japan, and India, supported by local partnerships such as the one with Tongding. However, it competes in a sector dominated by far larger global equipment vendors, which likely means intense price pressure, customer concentration risk, and vulnerability to contract timing. The company’s competitive position depends heavily on a few key customers and projects rather than broad market dominance.

Innovation and R&D

Innovation and R&D The company appears technologically sophisticated relative to its size, with work in areas like 5G transport, disaggregated routing, SDN, segment routing over IPv6, and precise network synchronization through its SyncRing line. Its product families—SkyFlux routers, NetRing packet transport, and broadband access gear—are aligned with modern network trends such as automation, disaggregation, and 5G timing requirements. The main question is not whether UTStarcom has interesting technology, but whether it can scale adoption and keep funding R&D at a meaningful level given its small revenue base. Future progress will hinge on converting these innovations into repeat contracts, deeper partnerships, and a broader customer set.

Summary

UTStarcom is a very small telecom equipment provider with specialized technology for 5G transport, SDN, and synchronization, but with a long history of weak revenue and thin or negative profitability. The balance sheet is cash‑heavy and free of debt, which provides some financial cushion, yet equity has slowly declined as the business has not generated sustained profits. Cash flows are roughly flat, supported by low investment spending, signaling a cautious, capital‑light stance rather than a strong growth engine. Competitively, the firm relies on niche expertise and regional relationships in Asia to carve out space against much larger rivals. The key strategic uncertainty is whether its innovation pipeline and partnerships can translate into durable, growing revenue before its small scale and ongoing losses become a more serious constraint.