UEIC 8-K

Universal Electronics Inc (UEIC)

8-K 2026-08-06 For: 2026-08-02

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Added on August 06, 2026

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Securities registered pursuant to Section 12(b) of the Act:
Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.01 per share	UEIC	The Nasdaq Stock Market LLC


	June 30, 2026		December 31, 2025
ASSETS
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		—
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
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	54,291	$	48,945
Lines of credit	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
Stockholders’ equity:
Preferred stock, $0.01 par value, 5,000,000 shares authorized; none issued or outstanding	—		—
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


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
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	$	0.13	$	(0.22)	$	(0.45)	$	(0.70)
Diluted	$	0.12	$	(0.22)	$	(0.45)	$	(0.70)
Shares used in computing earnings (loss) per share:
Basic	12,743		13,200		12,681		13,141
Diluted	13,425		13,200		12,681		13,141


	Six Months Ended June 30,
	2026		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
Gain on sale of property, plant, and equipment	41		—

Impairment of long-lived assets	20		110
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
Intercompany receivable/payable
Net cash provided by (used for) operating activities	5,521		17,705
Cash flows from investing activities:
Purchase of Blue Chip Swap securities	—		(2,544)
Sale of Blue Chip Swap securities	—		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 debt	7,621		—
Treasury stock purchased	—		(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


	Three Months Ended June 30,						Six Months Ended June 30,
	2026			2025			2026			2025
NET SALES:
Net sales - GAAP	$	73,238		$	97,665		$	152,274		$	189,991

Adjusted Non-GAAP net sales	$	73,238		$	97,665		$	152,274		$	189,991

Cost of sales:
Cost of sales - GAAP	$	47,332		$	68,469		$	105,768		$	134,712

Stock-based compensation expense	(12)			(12)			(25)			(28)
Adjusted non-GAAP cost of sales	47,320			68,457			105,743			134,684
Adjusted non-GAAP gross profit	$	25,918		$	29,208		$	46,531		$	55,307

Gross margin:
Gross margin - GAAP	35.4		%	29.9		%	30.5		%	29.1		%

Stock-based compensation expense	0.0		%	0.0		%	0.0		%	0.0		%
Adjusted non-GAAP gross margin	35.4		%	29.9		%	30.5		%	29.1		%

Operating expenses:
Operating expenses - GAAP	$	21,117		$	28,188		$	45,617		$	58,025
Stock-based compensation expense	(509)			(1,637)			(1,264)			(3,405)
Amortization of acquired intangible assets	(207)			(207)			(414)			(426)
Severance (1)	(272)			—			(1,547)			(275)




Adjusted non-GAAP operating expenses	$	20,129		$	26,344		$	42,392		$	53,919

Operating income (loss):
Operating income (loss) - GAAP	$	4,789		$	1,008		$	889		$	(2,746)

Stock-based compensation expense	521			1,649			1,289			3,433
Amortization of acquired intangible assets	207			207			414			426
Severance (1)	272			—			1,547			275



Adjusted non-GAAP operating income (loss)	$	5,789		$	2,864		$	4,139		$	1,388

Adjusted Non-GAAP operating income as a percentage of net sales	7.9		%	2.9		%	2.7		%	0.7		%