Revenue contracted by 14.4% year-over-year in 2026Q1, while gross margins deteriorated to 24.7% from 28.4% in late 2025, highlighting ongoing pricing and volume pressures.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Sales/Revenue | 355M | 368.29M | 394.88M | 420.46M | 542.75M | 601.6M | 614.68M | 753.48M | 680.24M | 695.79M | 651.37M | 602.83M | 562.33M | 529.35M | 463.09M | 468.63M | 331.78M | 317.55M | 287.1M | 272.68M | 235.85M | 181.35M | 158.38M | 120.47M | 103.89M | 119.03M | 124.74M | 105.09M | 96.1M | 114.3M | 98.6M |
| Revenue Growth % | -10.2% | -6.73% | -6.08% | -22.53% | -9.78% | -2.13% | -18.42% | 10.77% | -2.23% | 6.82% | 8.05% | 7.2% | 6.23% | 14.31% | -1.18% | 41.25% | 4.48% | 10.61% | 5.29% | 15.62% | 30.05% | 14.5% | 31.47% | 15.96% | -12.72% | -4.58% | 18.7% | 9.36% | -15.92% | 15.92% | -6.18% |
| Cost of Goods Sold | 258.45M | 265.04M | 280.88M | 322.9M | 390.46M | 428.59M | 438.42M | 583.27M | 538.44M | 530.08M | 487.25M | 436.08M | 395.43M | 377.89M | 329.65M | 338.57M | 227.93M | 215.94M | 190.91M | 173.33M | 149.97M | 114.22M | 96.8M | 74.17M | 62.24M | 69.96M | 69.38M | 58.1M | 57.3M | 76.6M | 71.3M |
| COGS % of Revenue | - | 71.97% | 71.13% | 76.8% | 71.94% | 71.24% | 71.33% | 77.41% | 79.15% | 76.18% | 74.8% | 72.34% | 70.32% | 71.39% | 71.19% | 72.25% | 68.7% | 68% | 66.5% | 63.57% | 63.59% | 62.98% | 61.12% | 61.57% | 59.9% | 58.77% | 55.62% | 55.28% | 59.63% | 67.02% | 72.31% |
| Gross Profit | 96.55M | 103.25M | 113.99M | 97.56M | 152.29M | 173.02M | 176.26M | 170.2M | 141.8M | 165.71M | 164.12M | 166.75M | 166.9M | 151.46M | 133.44M | 130.06M | 103.85M | 101.61M | 96.19M | 99.35M | 85.88M | 67.13M | 61.58M | 46.3M | 41.66M | 49.07M | 55.36M | 46.99M | 38.8M | 37.7M | 27.3M |
| Gross Margin % | 27.2% | 28.03% | 28.87% | 23.2% | 28.06% | 28.76% | 28.67% | 22.59% | 20.85% | 23.82% | 25.2% | 27.66% | 29.68% | 28.61% | 28.81% | 27.75% | 31.3% | 32% | 33.5% | 36.44% | 36.41% | 37.02% | 38.88% | 38.43% | 40.09% | 41.23% | 44.38% | 44.72% | 40.37% | 32.98% | 27.69% |
| Gross Profit Growth % | - | -9.43% | 16.84% | -35.94% | -11.98% | -1.84% | 3.56% | 20.03% | -14.42% | 0.96% | -1.57% | -0.09% | 10.19% | 13.51% | 2.6% | 25.24% | 2.2% | 5.64% | -3.18% | 15.69% | 27.93% | 9.01% | 33% | 11.15% | -15.12% | -11.35% | 17.8% | 21.12% | 2.92% | 38.1% | -14.95% |
| Operating Expenses | 101.58M | 103.33M | 129.29M | 182.86M | 137.74M | 149.76M | 138.99M | 154.89M | 143.47M | 148.89M | 138.73M | 130.83M | 125.62M | 119.31M | 107.23M | 103.48M | 82.55M | 79.67M | 75.43M | 72.9M | 67.36M | 55.45M | 48.04M | 37.73M | 34.67M | 33.06M | 37.11M | 34.02M | 29.3M | 32.2M | 30.2M |
| OpEx % of Revenue | - | 28.06% | 32.74% | 43.49% | 25.38% | 24.89% | 22.61% | 20.56% | 21.09% | 21.4% | 21.3% | 21.7% | 22.34% | 22.54% | 23.16% | 22.08% | 24.88% | 25.09% | 26.27% | 26.73% | 28.56% | 30.58% | 30.33% | 31.32% | 33.38% | 27.78% | 29.75% | 32.38% | 30.49% | 28.17% | 30.63% |
| Selling, General & Admin | 77.09M | 77.06M | 91.81M | 98.49M | 105.29M | 118.85M | 107.54M | 125.48M | 119.65M | 127.48M | 118.88M | 112.69M | 108.64M | 102.86M | 93.08M | 91.22M | 71.84M | 70.97M | 67.27M | 64.08M | 59.95M | 48.87M | 42.17M | 33.03M | 30.22M | 33.06M | 33.33M | 30.41M | 26.7M | 30.1M | 28.6M |
| SG&A % of Revenue | - | 20.92% | 23.25% | 23.42% | 19.4% | 19.75% | 17.5% | 16.65% | 17.59% | 18.32% | 18.25% | 18.69% | 19.32% | 19.43% | 20.1% | 19.46% | 21.65% | 22.35% | 23.43% | 23.5% | 25.42% | 26.95% | 26.63% | 27.42% | 29.09% | 27.78% | 26.72% | 28.94% | 27.78% | 26.33% | 29.01% |
| Research & Development | 24.49M | 26.27M | 29.72M | 31.28M | 32.45M | 30.92M | 31.45M | 29.41M | 23.82M | 21.42M | 19.85M | 18.14M | 16.98M | 16.45M | 14.15M | 12.27M | 10.71M | 8.69M | 8.16M | 8.82M | 7.41M | 6.58M | 5.87M | 4.7M | 4.45M | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | 7.13% | 7.53% | 7.44% | 5.98% | 5.14% | 5.12% | 3.9% | 3.5% | 3.08% | 3.05% | 3.01% | 3.02% | 3.11% | 3.06% | 2.62% | 3.23% | 2.74% | 2.84% | 3.23% | 3.14% | 3.63% | 3.7% | 3.9% | 4.28% | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | 7.76M | 53.09M | 0 | 0 | 0 | 0 | 0 | -848K | 840K | -7K | -840K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3.78M | 3.62M | 2.6M | 2.1M | 1.6M |
| Operating Income | -5.03M | -83K | -15.3M | -85.3M | 14.55M | 23.25M | 37.27M | 15.31M | -1.67M | 10.67M | 25.4M | 35.92M | 41.28M | 32.15M | 26.2M | 26.58M | 21.3M | 21.95M | 20.76M | 26.45M | 18.52M | 11.68M | 13.54M | 8.57M | 6.98M | 16.01M | 18.24M | 12.97M | 9.5M | 5.5M | -2.9M |
| Operating Margin % | -1.42% | -0.02% | -3.87% | -20.29% | 2.68% | 3.87% | 6.06% | 2.03% | -0.24% | 1.53% | 3.9% | 5.96% | 7.34% | 6.07% | 5.66% | 5.67% | 6.42% | 6.91% | 7.23% | 9.7% | 7.85% | 6.44% | 8.55% | 7.12% | 6.72% | 13.45% | 14.62% | 12.34% | 9.89% | 4.81% | -2.94% |
| Operating Income Growth % | - | 99.46% | 82.07% | -686.34% | -37.44% | -37.6% | 143.34% | 1019.82% | -115.6% | -57.99% | -29.29% | -12.99% | 28.38% | 22.72% | -1.41% | 24.76% | -2.94% | 5.71% | -21.51% | 42.85% | 58.58% | -13.76% | 57.93% | 22.82% | -56.39% | -12.24% | 40.67% | 36.51% | 72.73% | 289.66% | -238.1% |
| EBITDA | 8.18M | 14.11M | 2.76M | -62.37M | 38.58M | 50M | 67M | 47.24M | 31.94M | 42.03M | 52.36M | 56.37M | 59.52M | 50.52M | 43.81M | 43.91M | 29.36M | 28.75M | 26.84M | 31.13M | 22.7M | 15.38M | 16.63M | 11.93M | 10.68M | 20.11M | 22.03M | 16.58M | 12.1M | 7.6M | -1.3M |
| EBITDA Margin % | 2.3% | 3.83% | 0.7% | -14.83% | 7.11% | 8.31% | 10.9% | 6.27% | 4.7% | 6.04% | 8.04% | 9.35% | 10.59% | 9.54% | 9.46% | 9.37% | 8.85% | 9.05% | 9.35% | 11.41% | 9.63% | 8.48% | 10.5% | 9.9% | 10.28% | 16.89% | 17.66% | 15.78% | 12.59% | 6.65% | -1.32% |
| EBITDA Growth % | 54.3% | 410.87% | 104.43% | -261.67% | -22.84% | -25.38% | 41.83% | 47.92% | -24.01% | -19.74% | -7.11% | -5.3% | 17.83% | 15.3% | -0.22% | 49.56% | 2.13% | 7.09% | -13.75% | 37.09% | 47.63% | -7.54% | 39.41% | 11.68% | -46.87% | -8.71% | 32.81% | 37.06% | 59.21% | 684.62% | -138.24% |
| D&A (Non-Cash Add-back) | 13.2M | 14.19M | 18.06M | 22.93M | 24.03M | 26.75M | 29.73M | 31.93M | 33.6M | 31.36M | 26.97M | 20.45M | 18.24M | 18.36M | 17.61M | 17.34M | 8.06M | 6.8M | 6.08M | 4.67M | 4.19M | 3.7M | 3.09M | 3.36M | 3.7M | 4.1M | 3.78M | 3.62M | 2.6M | 2.1M | 1.6M |
| EBIT | -5.03M | -83K | -7.54M | -32.21M | 14.55M | 23.25M | 37.27M | 15.31M | -1.67M | 9.82M | 29.89M | 35.92M | 41.28M | 32.15M | 26.2M | 26.58M | 21.3M | 21.95M | 20.76M | 26.45M | 18.52M | 11.68M | 13.72M | 8.57M | 6.98M | 16.01M | 18.24M | 12.97M | 9.5M | 5.5M | -2.9M |
| Net Interest Income | -676K | -935K | 0 | 0 | 0 | 0 | -1.42M | -3.92M | -4.69M | -2.53M | -1.05M | 63K | 11K | 51K | -151K | -270K | 34K | 471K | 3.02M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 20K | 0 | 0 | 0 | 0 | 0 | 178K | 382K | 310K | 0 | 251K | 0 | 0 | 0 | 0 | 0 | 34K | 471K | 3.02M | 3.1M | 1.4M | 500 | 500 | 583.53M | 594.88M | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 696K | 935K | 0 | 0 | 0 | 0 | 1.6M | 4.3M | 5M | 2.53M | 1.3M | 63K | 11K | 51K | 151K | 270K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -6.64M | -11.88M | -3.3M | -6.95M | -3.15M | -7.17M | 6.64M | -4.91M | 27.83M | -3.38M | -209K | 56K | -829K | -3.12M | -1.56M | -1.34M | 557K | 230K | 3.33M | 3.11M | 903K | 3M | 182.56K | 921.69K | 834.12K | 1.13M | 1.42M | 150.65K | -600K | -15.4M | -1.7M |
| Pretax Income | -11.67M | -11.96M | -18.6M | -92.25M | 11.39M | 16.08M | 43.91M | 10.4M | 26.17M | 7.29M | 25.19M | 35.98M | 40.45M | 29.04M | 24.64M | 25.23M | 21.86M | 22.18M | 24.09M | 29.56M | 19.42M | 14.67M | 13.72M | 9.5M | 7.81M | 17.14M | 19.66M | 13.12M | 8.9M | -9.9M | -4.6M |
| Pretax Margin % | -3.29% | -3.25% | -4.71% | -21.94% | 2.1% | 2.67% | 7.14% | 1.38% | 3.85% | 1.05% | 3.87% | 5.97% | 7.19% | 5.49% | 5.32% | 5.38% | 6.59% | 6.98% | 8.39% | 10.84% | 8.23% | 8.09% | 8.66% | 7.88% | 7.52% | 14.4% | 15.76% | 12.48% | 9.26% | -8.66% | -4.67% |
| Income Tax | 7.99M | 6.64M | 5.43M | 5.98M | 10.99M | 10.78M | 5.33M | 6.77M | 14.24M | 17.61M | 4.8M | 6.8M | 7.92M | 6.07M | 8.09M | 5.29M | 6.78M | 7.5M | 8.28M | 9.33M | 5.9M | 4.97M | 4.61M | 3.23M | 1.88M | 5.86M | 8.06M | 5.38M | 3.3M | -3.4M | -2.3M |
| Effective Tax Rate % | -68.41% | -55.51% | -29.2% | -6.49% | 96.43% | 67.03% | 12.15% | 65.1% | 54.43% | 241.64% | 19.07% | 18.91% | 19.57% | 20.92% | 32.82% | 20.95% | 31% | 33.83% | 34.38% | 31.57% | 30.38% | 33.89% | 33.59% | 34% | 24% | 34.17% | 41% | 41% | 37.08% | 34.34% | 50% |
| Net Income | -19.66M | -18.6M | -24.03M | -98.24M | 407K | 5.3M | 38.57M | 3.63M | 11.92M | -10.32M | 20.35M | 29.17M | 32.53M | 22.96M | 16.55M | 19.95M | 15.08M | 14.68M | 15.81M | 20.23M | 13.52M | 9.7M | 9.11M | 6.27M | 5.94M | 11.29M | 11.6M | 7.74M | 5.6M | -6.5M | -2.3M |
| Net Margin % | -5.54% | -5.05% | -6.09% | -23.36% | 0.07% | 0.88% | 6.28% | 0.48% | 1.75% | -1.48% | 3.12% | 4.84% | 5.79% | 4.34% | 3.57% | 4.26% | 4.55% | 4.62% | 5.51% | 7.42% | 5.73% | 5.35% | 5.75% | 5.2% | 5.72% | 9.48% | 9.3% | 7.37% | 5.83% | -5.69% | -2.33% |
| Net Income Growth % | 9.22% | 22.6% | 75.54% | -24237.1% | -92.32% | -86.26% | 962.59% | -69.56% | 215.51% | -150.72% | -30.23% | -10.33% | 41.68% | 38.72% | -17.01% | 32.26% | 2.77% | -7.16% | -21.87% | 49.63% | 39.37% | 6.45% | 45.42% | 5.52% | -47.37% | -2.71% | 49.88% | 38.22% | 186.15% | -182.61% | -866.67% |
| Net Income (Continuing) | -19.66M | -18.6M | -24.03M | -98.24M | 407K | 5.3M | 38.57M | 3.63M | 11.92M | -10.32M | 20.38M | 29.17M | 32.53M | 22.96M | 16.55M | 19.95M | 15.08M | 14.68M | 15.81M | 20.23M | 13.52M | 9.7M | 9.11M | 6.27M | 5.94M | 11.29M | 11.6M | 7.74M | 5.6M | -6.5M | -2.3M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 299K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -1.56 | -1.41 | -1.85 | -7.64 | 0.03 | 0.39 | 2.72 | 0.26 | 0.85 | -0.72 | 1.38 | 1.88 | 2.01 | 1.47 | 1.10 | 1.31 | 1.07 | 1.05 | 1.09 | 1.33 | 0.94 | 0.69 | 0.65 | 0.45 | 0.42 | 0.78 | 0.78 | 0.51 | 0.41 | -0.51 | -0.18 |
| EPS Growth % | 9.46% | 23.78% | 75.79% | -24049.84% | -91.82% | -85.66% | 946.15% | -69.41% | 218.06% | -152.17% | -26.6% | -6.47% | 36.73% | 33.64% | -16.03% | 22.43% | 1.9% | -3.67% | -18.05% | 41.49% | 36.23% | 6.15% | 44.44% | 7.14% | -46.15% | 0% | 52.94% | 24.39% | 180.39% | -183.33% | -1300% |
| EPS (Basic) | - | -1.41 | -1.85 | -7.64 | 0.03 | 0.39 | 2.78 | 0.26 | 0.85 | -0.72 | 1.41 | 1.91 | 2.06 | 1.51 | 1.11 | 1.34 | 1.10 | 1.07 | 1.13 | 1.40 | 0.98 | 0.72 | 0.67 | 0.46 | 0.43 | 0.82 | 0.84 | 0.57 | 0.41 | -0.51 | -0.18 |
| Diluted Shares Outstanding | 12.62M | 13.17M | 12.96M | 12.86M | 12.78M | 13.74M | 14.17M | 14.11M | 14.06M | 14.35M | 14.76M | 15.54M | 16.15M | 15.6M | 15.11M | 15.21M | 14.11M | 13.97M | 14.46M | 15.18M | 14.43M | 13.99M | 14.1M | 14.01M | 14.16M | 14.52M | 14.94M | 15.06M | 13.81M | 12.62M | 12.81M |
| Basic Shares Outstanding | 12.62M | 13.17M | 12.96M | 12.86M | 12.7M | 13.46M | 13.89M | 13.88M | 13.95M | 14.34M | 14.46M | 15.25M | 15.78M | 15.25M | 14.95M | 14.91M | 13.76M | 13.67M | 14.02M | 14.41M | 13.82M | 13.46M | 13.57M | 13.7M | 13.79M | 13.84M | 13.74M | 13.7M | 13.81M | 12.62M | 12.81M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Accelerating Pay-TV subscriber churn
According to the most recent quarterly data, UEIC experienced a 14.4% year-over-year revenue decline in 2026Q1, reflecting a broader pattern of top-line erosion as the company struggles to offset the secular decline in its legacy set-top box remote control business with newer smart home initiatives.
The consistent negative growth trajectory suggests that the company's pivot toward IoT and climate control has yet to reach a scale capable of replacing the high-volume legacy revenue streams. Investors should monitor whether the current revenue floor is stable or if the acceleration of cord-cutting will continue to compress the addressable market for the firm's core hardware offerings.
As reported in financial statements, UEIC's gross margin fell to 24.7% in 2026Q1, a notable deterioration from the 28.4% levels observed in late 2025, indicating that the company is struggling to maintain pricing power amidst rising input costs and a shift in product mix.
The inability to sustain gross margins above the 28% threshold suggests that the commoditized nature of the hardware business remains a significant drag on profitability. This margin volatility warrants further investigation into whether the company can successfully transition to higher-margin software licensing before the hardware segment's profitability is fully eroded by competitive pressures.
Based on reported figures, UEIC's operating income dropped to a loss of $3.9 million in 2026Q1, demonstrating that the company lacks the necessary operating leverage to achieve profitability as fixed costs like R&D and SG&A remain disproportionately high relative to the shrinking revenue base.
The persistent negative operating margin appears to indicate that management has not yet successfully right-sized the cost structure to align with current revenue volumes. Without a significant reduction in overhead or a sharp increase in high-margin software revenue, the company may continue to face challenges in achieving consistent operating profitability.
Financial data indicates that UEIC has reported net losses in nine of the last ten quarters, raising significant questions about the viability of the current business model as the company attempts to navigate the transition from legacy hardware manufacturing to a software-centric IoT service provider.
Short-sellers would likely focus on the persistent cash burn and the lack of a clear path to positive net income as evidence that the turnaround strategy is failing. The reliance on patent litigation windfalls to occasionally bolster the bottom line suggests that core operational performance remains weak and potentially unsustainable without a fundamental change in the revenue mix.
Quick answers to the most common questions about buying UEIC stock.
For fiscal year 2025, Universal Electronics Inc. (UEIC) reported total revenue of $368.3M. This represents a 273.5% increase compared to $98.6M in 1996.
Universal Electronics Inc. (UEIC) reported a net loss of $18.6M for the fiscal year ending 2025.
Universal Electronics Inc. (UEIC) reported an operating income of $-0.1M, resulting in an operating profit margin of -0.0%. This margin reflects the operational efficiency of the business before interest and taxes.
Universal Electronics Inc. (UEIC) generated $103.2M in gross profit for the year, representing a gross profit margin of 28.0%. This demonstrates the company's core pricing power and production efficiency.