UNIVERSAL ELECTRONICS INC

Universal Electronics Inc. received approximately $7.6 million from a third-party financial institution for the sale of its claims related to tariffs. These tariffs were previously paid to Customs and Border Protection (CBP) and were ruled unlawful by the U.S. Supreme Court on February 20, 2026. The purchase price reflects a discount and is subject to full or partial refund under certain circumstances where the claims may be impaired.

Universal Electronics Inc. held its annual meeting on May 19, 2026, where stockholders approved several key proposals. The most significant approval was the amendment to declassify the Board of Directors, meaning all directors will be elected annually starting with the 2027 annual meeting. Additionally, five Class II directors were elected, and an amendment to the 2018 Equity and Incentive Compensation Plan was approved, increasing available shares by 375,000. Stockholders also provided non-binding advisory approval for executive compensation and ratified Grant Thornton LLP as the independent auditor for 2026.

Universal Electronics Inc. reported a net loss of $7.33 million for the first quarter of 2026, an increase from the $6.27 million loss in the prior year. Net sales decreased by 14.4% to $79.04 million. The company also provided updates on its ongoing litigation with Roku, where several patent claims against Roku were affirmed in UEI's favor, and Roku's retaliatory claims against UEI were invalidated. Additionally, Universal Electronics amended its U.S. Credit Agreement, increasing the limit on restricted payments.

Universal Electronics Inc. reported Q1 2026 financial results with GAAP net sales declining to $79.0 million from $92.3 million year-over-year, leading to a GAAP net loss of $7.3 million, or $0.58 per share. Despite the sales decline, the company improved its adjusted non-GAAP net loss to $1.3 million, or $0.10 per share, from $1.5 million, or $0.12 per share in the prior year, driven by a $5.3 million reduction in operating expenses and a $9.8 million inventory reduction. The company reaffirmed its full-year 2026 adjusted non-GAAP diluted EPS guidance in the range of $0.45 to $0.65, up from $0.31 in fiscal 2025, emphasizing disciplined execution and cost structure alignment.