$UEIC

UNIVERSAL ELECTRONICS INC

CIK:0000101984|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net sales	$ 73,238	$ 97,665	$ 152,274	$ 189,991
Cost of sales	47,332	68,469	105,768	134,712
Gross profit	25,906	29,196	46,506	55,279
Research and development expenses	4,340	6,959	9,791	14,190
Selling, general and administrative expenses	16,777	21,229	35,826	43,835
Operating income (loss)	4,789	1,008	889	(2,746)
Interest income (expense), net	(176)	(358)	(270)	(711)
Other income (expense), net	(1,828)	(1,751)	(1,601)	(1,699)
Income (loss) before provision for income taxes	2,785	(1,101)	(982)	(5,156)
Provision for income taxes	1,144	1,811	4,709	4,030
Net income (loss)	$ 1,641	$ (2,912)	$ (5,691)	$ (9,186)
Earnings (loss) per share:
Basic (in dollars per share)	$ 0.13	$ (0.22)	$ (0.45)	$ (0.70)
Diluted (in dollars per share)	$ 0.12	$ (0.22)	$ (0.45)	$ (0.70)
Shares used in computing earnings (loss) per share:
Basic (in shares)	12,743	13,200	12,681	13,141
Diluted (in shares)	13,425	13,200	12,681	13,141

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income (loss)	$ (5,691)	$ (9,186)
Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities:
Depreciation and amortization	6,185	7,622
Provision for credit losses	299	19
Deferred income taxes	2,725	641
Shares issued for employee benefit plan and compensation	1	331
Employee and director stock-based compensation	1,289	3,433
Impairment of long-lived assets	20	110
Gain on sale of property, plant, and equipment	41	0
Changes in operating assets and liabilities:
Accounts receivable and contract assets	(6,487)	23,348
Inventories	8,054	1,715
Prepaid expenses and other assets	561	3,728
Accounts payable and accrued liabilities	(84)	(15,395)
Accrued income taxes	(1,392)	1,339
Net cash provided by (used for) operating activities	5,521	17,705
Cash flows from investing activities:
Purchase of Blue Chip Swap securities (Note 15)	0	(2,544)
Sale of Blue Chip Swap securities (Note 15)	0	2,314
Acquisitions of property, plant and equipment	(1,591)	(2,261)
Acquisitions of intangible assets	(704)	(1,498)
Net cash provided by (used for) investing activities	(2,295)	(3,989)
Cash flows from financing activities:
Borrowings under lines of credit	34,200	41,000
Repayments on lines of credit	(46,713)	(48,000)
Proceeds from short term financing	7,621	0
Treasury stock purchased	0	(748)
Net cash provided by (used for) financing activities	(4,892)	(7,748)
Effect of foreign currency exchange rates on cash and cash equivalents	1,759	1,510
Net increase (decrease) in cash and cash equivalents	93	7,478
Cash and cash equivalents at beginning of period	32,306	26,783
Cash and cash equivalents at end of period	32,399	34,261
Supplemental cash flow information:
Income taxes paid	2,696	2,096
Interest paid	$ 655	$ 1,238

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 32,399	$ 32,306
Accounts receivable, net	83,885	79,320
Contract assets	8,396	8,091
Inventories	70,041	77,793
Prepaid expenses and other current assets	7,155	6,803
Assets held for sale	1,157	0
Income tax receivable	1,207	806
Total current assets	204,240	205,119
Property, plant and equipment, net	25,723	27,600
Intangible assets, net	20,152	21,968
Operating lease right-of-use assets	10,356	10,203
Deferred income taxes	2,915	5,496
Other assets	3,943	3,611
Total assets	267,329	273,997
Current liabilities:
Accounts payable	54,291	48,945
Lines of credit and short term financing	20,831	24,079
Accrued compensation	14,536	17,496
Accrued sales discounts, rebates and royalties	4,164	6,132
Accrued income taxes	1,578	2,524
Other accrued liabilities	19,852	20,134
Total current liabilities	115,252	119,310
Long-term liabilities:
Operating lease obligations	6,651	6,193
Deferred income taxes	1,526	1,507
Income tax payable	74	74
Other long-term liabilities	865	729
Total liabilities	124,368	127,813
Commitments and contingencies (Note 12)
Stockholders' equity:
Preferred stock, $0.01 par value, 5,000,000 shares authorized; none issued or outstanding	0	0
Common stock, $0.01 par value, 50,000,000 shares authorized; 26,441,443 and 26,146,367 shares issued on June 30, 2026 and December 31, 2025, respectively	264	261
Paid-in capital	351,508	350,222
Treasury stock, at cost, 13,537,944 and 13,537,944 shares on June 30, 2026 and December 31, 2025, respectively	(375,016)	(375,016)
Accumulated other comprehensive income (loss)	(17,936)	(19,115)
Retained earnings	184,141	189,832
Total stockholders' equity	142,961	146,184
Total liabilities and stockholders' equity	$ 267,329	$ 273,997