通用电子股份有限公司 2025年季度报告

FORM10-Q UNIVERSAL ELECTRONICS INC. Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller Accelerated filer☒Smallerreportingcompany☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.¨ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☒ Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date:13,169,997shares of Common Stock, par value $0.01 per share, of the registrant were outstanding on May6, 2025. PART I. FINANCIAL INFORMATION Item 1. Consolidated Financial Statements (Unaudited)Consolidated Balance SheetsConsolidated Statements of OperationsConsolidated Statements of Comprehensive Income (Loss)Consolidated Statements of Stockholders' EquityConsolidated Statements of Cash Flows Notes to Consolidated Financial StatementsItem 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Item 3. Quantitative and Qualitative Disclosures About Market Risk PART I. FINANCIAL INFORMATIONITEM 1. Consolidated Financial Statements (Unaudited) UNIVERSAL ELECTRONICS INC.CONSOLIDATED BALANCE SHEETS(In thousands, except share-related data)(Unaudited) UNIVERSAL ELECTRONICS INC.CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share amounts)(Unaudited) UNIVERSAL ELECTRONICS INC.CONSOLIDATED STATEMENTS OF CASH FLOWS UNIVERSAL ELECTRONICS INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTSMARCH 31, 2025 Note 1 —Basis of Presentation In the opinion of management, the accompanying consolidated financial statements of Universal Electronics Inc. and its subsidiariescontain all the adjustments necessary for a fair presentation of financial position, results of operations and cash flows for the periodspresented. All such adjustments are of a normal recurring nature, except for the restructuring charges, as described in Note 12 to theconsolidated financial statements. Information and footnote disclosures normally included in financial statements, which are prepared Our results of operations for the three months ended March31, 2025 are not necessarily indicative of the results to be expected for thefull year. These financial statements should be read in conjunction with the "Risk Factors," "Management's Discussion and Analysis ofFinancial Condition and Results of Operations," "Quantitative and Qualitative Disclosures About Market Risk," and the "Financial Estimates and Assumptions The preparation of financial statements in conformity U.S. GAAP requires us to make estimates and assumptions that affect thereported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and thereported amounts of revenues and expenses during the reporting period. On an on-going basis, we evaluate our estimates andassumptions, including those related to revenue recognition, allowance for credit losses, inventory valuation, impairment of long-lived Summary of Significant Accounting Policies See Note 2 to the consolidated financial statements included in our Annual Report on Form 10-K for the year ended December31,2024 for a summary of our significant accounting policies. Recently Adopted Accounting Pronouncements None. Accounting Pronouncements Not Yet Effective InNovember 2024,the FASB issued ASU 2024-03,"Income Statement–Reporting Comprehensive Income(Topic 220):Disaggregation of Income Statement Expenses." This guidance requires additional disclosures by disaggregating the costs and expenseline items that are presented on the face of the consolidated statements of operations. This guidance is effective for annual periodsbeginning in 2027 and interim periods beginning in 2028, with early adoption permitted. This guidance requires a public company to In December 2023, the FASB issued ASU 2023-09, "Income Taxes – Improvements to Tax Disclosures." The guidance expandsincome tax disclosures by requiring public business entities, on an annual basis, to disclose specific ca