Start here if you're new
what it is
UTStarcom sells gear and software that help phone carriers move data and keep signals aligned.
how it gets paid
FY2025 total revenues were $9.0M vs $10.9M in 2024—mostly services (~$8.2M) with small equipment sales (~$0.8M) in the year-end unaudited breakdown.
what just happened
FY2025 net loss ~$8.0M; basic EPS (~$0.87) vs (~$0.48) in 2024. 2H 2025 basic EPS was (~$0.46) on $4.3M revenue.
At a glance
n/a balance sheet
30/100 earnings predictability — expect surprises
FY2025 basic EPS (~$0.87) loss
$9.0M FY2025 revenue (unaudited)
Operating loss ~$8.5M on $9.0M revenue
xvary composite: 39/100 — weak
What they do
UTStarcom sells gear and software that help phone carriers move data and keep signals aligned.
You do not buy this for a famous brand. You buy it because carriers hate ripping out working network gear. Switching costs (the pain of replacing installed equipment) keep accounts sticky. UTStarcom does that with 219 employees and customers from Asia to the Americas. If sales fall below $10M, this story breaks.
How they make money
$9.0M
FY2025 total revenues · unaudited · down ~17% vs 2024
Net services sales
$8.2M
−13.1%
Net equipment sales
$0.8M
−46.6%
The products that matter
telecom equipment (shrinking)
Net equipment sales
~$0.8M FY2025 · negative equipment gross margin
Equipment sales collapsed YoY and gross margin on equipment went deeply negative as India demand fell and reserves moved—this line is no longer the growth engine.
distressed line
operations and support services
Services & Other
~$8.2M services FY2025
Post-sale support and project services are now almost the entire $9M revenue base, but revenue still declined YoY as India projects rolled off.
supporting segment
Key numbers
(~$0.87)
FY2025 basic EPS
Unaudited FY2025 loss widened vs (~$0.48) in FY2024 per the Mar 24, 2026 release.
$9.0M
FY2025 revenue
Down from $10.9M in 2024; file audited numbers in the next Form 20-F.
~11.7%
FY2025 gross margin
FY2025 gross profit ~$1.1M on $9.0M revenue in the unaudited summary—equipment losses dragged the blended margin down.
n/a
dividend yield
Financial health
n/a
strength
- balance sheet grade n/a
- risk rank 4 — safer than 20% of stocks
- price stability 20 / 100
n/a — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for UTSI right now.
source: institutional data · return history unavailable
What just happened
FY2025 unaudited
FY2025 revenue $9.0M; net loss ~$8.0M; basic EPS (~$0.87).
2H 2025 revenue was $4.3M with a $4.4M operating loss and (~$0.46) basic EPS over six months. Management is pivoting messaging toward AI-networking R&D—treat revenue lines above as filing-grade only after the audited 20-F.
$9.0M
FY2025 revenue
(~$0.87)
FY basic EPS
~11.7%
gross margin
latest EPS
Losses deepened YoY because gross profit fell faster than opex could be cut—interest income helps but does not cover the operating hole.
P0: UTStarcom unaudited 2H & FY2025 results (Mar 24, 2026) — Globe Newswire
Get this snapshot in your inbox
This page, delivered free — plus weekly updates when the numbers change. plain english, no spam.
weekly updates
earnings alerts
plain english
no spam
What could go wrong
The risk is not abstract: FY2025 revenue is single-digit millions, equipment sales are nearly gone, and operating losses exceed revenue. You are underwriting a turnaround into AI networking, not a cash-generating base.
med
network products keep shrinking
FY2025 services revenue still fell double digits YoY as projects completed without replacements—there is no large “other segment” to absorb the hit.
If that decline continues, UTSI stays stuck in the worst small-company loop: less scale, less operating leverage, and more pressure on already-thin margins.
med
losses persist even if revenue stops falling
FY2025 gross margin ~11.7% on $9M revenue leaves ~$1.1M gross profit against ~$9.6M opex—fixed cost coverage is the problem until revenue inflects.
A flat top line would help, but flat revenue alone does not fix a model that still is not covering itself.
med
micro-cap trading can turn a small position into a big problem
UTSI's market cap is about $22M and the stock traded between $2 and $3 over the last year. That looks manageable on paper. In practice, thin liquidity can widen spreads and make exits much uglier than the chart suggests.
The market may let you in quietly and force you out loudly. That matters more than usual in a stock this small.
med
thin outside coverage means thin outside validation
There is one visible analyst target at $2.50 from BMO Capital Markets. One target is a data point. It is not a real consensus, and it does not give you much institutional sponsorship if the company disappoints again.
If the story slips further, there may be very little external support to slow the selling or challenge the market's worst assumptions.
Add it up and you get a company with shrinking core revenue, negative earnings, thin liquidity, and limited external validation. That is not uninvestable. It is just a setup where you should demand proof before you pay for optimism.
source: institutional data · regulatory filings · risk analysis
Pay attention to
calendar
audited Form 20-F after FY2025 PR
Unaudited FY2025 numbers are out (Mar 24, 2026). Next checkpoint is the audited 20-F and whether AI-networking spend produces orders.
metric
services + equipment mix
Watch whether services revenue stabilizes and whether equipment gross margin turns positive—both were weak in FY2025 unaudited data.
risk
loss trajectory
FY2025 basic EPS (~$0.87) loss is deeper than (~$0.48) in 2024—you want losses to narrow before the cash cushion debates start.
coverage
whether coverage broadens beyond one target
A single $2.50 target is better than silence, but more coverage would tell you the company is earning fresh attention for a reason, not just existing in the database.
Analyst rankings
earnings predictability
30 / 100
in human-speak, analysts do not have a stable earnings pattern to lean on here. Expect messy numbers until the business proves otherwise.
visible wall street target
$2.50
That is just $0.08 above the current $2.42 price, or about 3.3% higher. The visible bullish case is modest because the operating proof is modest too.
source: institutional data
Institutional activity
institutional ownership data for UTSI is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$2
current price
n/a
target midpoint · n/a from current
Want the deeper analysis?
The full deep dive: dcf model, scenario analysis, competitive moat breakdown, and quarterly tracking — everything on this page, taken further.
see plans from $5/moThe deep dive