Universal Electrs Inc Stock Price, News & Analysis

Universal Electronics (NASDAQ: UEIC) reported Q4 2024 financial results with GAAP net sales of $110.5 million, up 13% from $97.6 million in Q4 2023. The company posted a GAAP net loss of $4.5 million ($0.35 per share) compared to $7.1 million loss ($0.55 per share) in the prior year quarter.

For full-year 2024, GAAP net sales were $394.9 million, down from $420.5 million in 2023. The company reported a GAAP net loss of $24.0 million ($1.85 per share) versus $98.2 million loss ($7.64 per share) in 2023.

For Q1 2025, UEIC expects GAAP net sales between $87.0-97.0 million and GAAP loss per share of $0.52-0.42. The company highlighted strong performance at CES 2025 and reiterated projections for top and bottom-line growth for full-year 2025.

Universal Electronics (UEIC) has announced a strategic collaboration with Somfy, a leader in window and door automation, to develop innovative wireless remote control and sensor products. The partnership introduces two main product lines: the Ysia® Zigbee range of remote controls for motorized interior window coverings, and the Sunteis io sensor for thermal comfort optimization.

The Ysia® remote controls feature multiple models with push button, wheel, and rocker keys, offering LED feedback, a MY button for saving positions, and wall bracket options. The Sunteis io sensor measures outdoor temperature and sun radiation to manage solar energy efficiency, powered by a PV cell with backup battery.

The collaboration aims to enhance comfort, convenience, and energy efficiency in smart home automation while maintaining sustainability standards. The products have already received two design awards in 2024.

Universal Electronics Inc. (NASDAQ: UEIC), a leader in wireless universal control solutions for home entertainment and smart home devices, has announced its upcoming fourth quarter 2024 financial results conference call. The call is scheduled for February 20, 2025, at 4:30 p.m. ET. Management will present financial and business updates and conduct a Q&A session. The conference call will be accessible through registration and will also be broadcast live on www.uei.com, where it will remain available for replay for 90 days.

Universal Electronics Inc. (UEIC) has announced the expansion of its QuickSet Widget family with the new QuickSet Widget Pro line-up, featuring the UE72Y and UE72X models. The enhanced product line introduces advanced multi-protocol connectivity including dual-band Wi-Fi 6, Bluetooth 5.3, and support for Matter, Zigbee, and OpenThread Border Router Host services.

The UE72Y model stands out with its high-performance processor capable of Edge AI processing and video stream decoding. The system features advanced security measures including secure boot, encrypted communication, and hardware-based security modules. The product line is pre-integrated with QuickSet 7 and QuickSet homeSense, supporting Matter Controller Multi-Admin capability.

The technology integrates with UEI's QuickSet Cloud and nevo.ai, offering AI-powered support through a virtual agent for real-time device assistance, troubleshooting, and feature discovery. The product will be showcased at CES 2025 at the Venetian Expo, Booth #53023.

Universal Electronics Inc. (UEI) has announced expanded features for its QuickSet 7 SDK and QuickSet Cloud services, to be showcased at CES in January. The platform supports a multi-protocol approach, ensuring seamless integration and control of various smart home devices. QuickSet 7 now includes new capabilities such as OpenThread Border Router Host services, Matter Controller upgrades, and Zigbee Coordinator services.

QuickSet Cloud integrates with QuickSet 7, offering AI-powered device fingerprinting and discovery, trained on a proprietary device knowledge graph. This enhances the platform's ability to manage smart home devices, providing a comprehensive framework for discovery, control, and personalization.

Key highlights include:

• Multi-Protocol Support: Supports Wi-Fi, Zigbee, Bluetooth, Thread, and Infrared.
• Device Knowledge Graph: Includes over 25 million unique fingerprints from nearly 1 million devices.
• Control Engines: Enables on-device discovery and control through various protocols.
• Interoperability as a Service: Ensures compatibility with existing smart home platforms.
• Edge Intelligence with Cloud Scalability: Provides secure cloud communications and remote access.
• Intelligent Video & Audio Content Personalization: Offers targeted recommendations based on user habits.

These updates aim to set new standards for home automation and smart home technology.

Universal Electronics (UEIC) has announced an expansion of its UEI TIDE family portfolio, introducing enhanced features for smart home climate control and energy management. The expanded lineup includes UEI TIDE Dial, Touch, and Bridge models with new Zigbee Coordinator functionality and Matter support.

Key improvements include managed network formation, device integration capabilities, enhanced energy management, actionable energy insights, and QuickSet® homeSense occupancy detection technology. The system can now manage both central and space heating/AC systems through IR support, while featuring nevo®.ai for AI-powered support.

UEIC also previewed its next-generation UEI TIDE PRO platform, which will feature a larger display, on-device AI processing, Thread support, and QuickSet 7 with Matter Controller capabilities. The company will showcase these innovations at CES in Las Vegas, January 7-10, 2025, at the Venetian Expo, Booth #53023.

Universal Electronics Inc. (UEIC) announces the launch of QuickSet homeSense technology at CES. This innovative solution, part of QuickSet 7 SDK, adds on-device intelligence to smart homes by learning from connected devices and adapting to user behavior. The technology features automated energy management, personalized HVAC settings, and app-less occupancy detection.

QuickSet homeSense operates with privacy-first design, enabling occupancy and presence detection to automate home settings without requiring mobile apps. The system can adjust temperature preferences, manage energy usage, and control various smart devices based on real-time data and user habits. It's available as a software-only solution or pre-integrated with QuickSet Widget Wireless Module Family and UEI TIDE Smart Climate Control Family.

Universal Electronics (UEIC) has announced its participation in CES 2025, where it will showcase several innovative smart home control solutions. Key highlights include QuickSet 7 with homeSense Technology for personalized home intelligence, the expanded QuickSet Widget family featuring new UE72Y and UE72X models with advanced connectivity, and updates to QuickSet Cloud & nevo.ai for AI-powered device management.

The company will also present UEI TIDE Climate Control with enhanced features for AC/heating systems, and the UEI Eterna sustainable remote family, including the new battery-free XLR remote control. These innovations focus on making smart homes more intuitive while maintaining user privacy and efficiency.

Universal Electronics (UEIC) reported its Q3 2024 financial results. Net sales reached $102.1 million, compared to $107.1 million in Q3 2023. GAAP gross margins improved to 30.1% from 19.1%. GAAP net loss was $2.7 million ($0.20 per share), a significant improvement from a $19.4 million loss ($1.50 per share) in the prior year. Adjusted Non-GAAP net income was $1.4 million ($0.10 per share), compared to a loss of $0.7 million ($0.05 per share) in Q3 2023.

For the first nine months of 2024, net sales were $284.4 million, down from $322.9 million in 2023. GAAP gross margins increased to 29.1% from 21.6%. GAAP net loss decreased to $19.5 million ($1.51 per share) from $91.1 million ($7.10 per share) in the same period last year.

UEI forecasts Q4 2024 GAAP net sales between $99.0 million and $109.0 million, with an expected GAAP loss per share ranging from $0.27 to $0.17. Adjusted Non-GAAP earnings per share are projected between $0.10 and $0.20.