Vivian Zhang's questions to uCloudlink Group (UCL) leadership • Q3 2024
Question
Inquired about the new partnership with a U.S. airport retail channel and the reasons behind the significant increase in platform-as-a-service (PaaS) revenues.
Answer
The company signed a contract with a major U.S. airport retailer at the end of Q3, with products hitting shelves in 38 airports in mid-November. Another major U.S. airport channel was signed in Q4. The PaaS revenue increased because some business partners chose to pay higher platform fees for future operational efficiencies, which is an option in their service packages.