Good afternoon, everyone. Our next presenter today is Ivan with uCloudlink. Take it away.
Thank you.
Hello, everyone. Thanks for joining us today to hear uCloudlink's story. uCloudlink listed in June 2020. I'm the CFO of uCloudlink. So let me start with some of the key investment highlights that make our companies attractive opportunities. So we are building this world's first and the leading mobile data traffic sharing marketplace. So backed by our three key technologies or solutions. One is our CloudSIM technologies, and the second is our HyperConn solutions, and also our positioning technologies integrated with our AI partners platform.
So this marketplace intelligently repackages, redistributes, dynamically allocates, and recycles data traffic, providing end users with a way to flexibly choose the best coverage, the best speed, and the best price based on their needs. So the second highlight is as of 30 June 2024. So we serve close to 2,700 business partners in more than 60 countries and regions.
Reflecting the enormous market potential backed by a scalable global user base and worldwide partnerships. Our business partners have a proven track record of profitability. Our business has viable business models and also cash-cow business models, ensuring our sustainable growth and positioning us for success in a dynamic market. We quickly regained and have maintained profitability since the pandemic restrictions were lifted in 2023.
This allows us to further scale up our user base and enhance our innovative marketplace and global ecosystem. These are our missions. Our mission and visions aim to enable people and devices to connect and share data traffic without limitations, to improve the global connectivity and maximize network utility through the power of mobile data traffic sharing. How does this marketplace work? The left-hand side shows the source of data traffic from the market.
We and our partners, including carriers, just simply buy SIM cards from the carrier and their partners around the world. The right-hand side is the various users of data traffic in the marketplace, including mobile network operators, mobile virtual network operators, and end users. This marketplace enables end users' devices to connect to any available network at any time and anywhere. This addresses some pressing industries' challenges.
On the consumer side, roaming data connectivity is very expensive, with just a twentieth of the cross-border travelers using their home carriers in the international roaming service, according to Frost & Sullivan. Data plans are inflexible. With the proliferation of smart devices, there's also a growing need for reliable connectivities when roaming both international and local between carriers.
On the commercial side, the mobile network operators struggle with coverage gaps, blocked spots, network congestions, and weak Wi-Fi and weak mobile signal, so all which require substantial capital expenditure to resolve. In addition, Internet of Things or IoT devices require highly reliable connections to function properly and face similar challenges. In addition, from both the consumer and the commercial side, capacity utilities and network throttling is also an issue.
With the advent of 5G, all these pain points are becoming increasingly pronounced. Our technologies offer solutions to this challenge, presenting significant opportunities for improving user experience in a cost-effective way. This industry pain point underscores the tremendous market opportunity in front of us. This figure came from a report from the GSMA.
The licensed cellular IoT connections are expected to surge from 3.5 billion in 2023 to close to 6 billion by the year 2030. There will be over 5.5 billion mobile internet users globally and nearly 10 billion total SIM connections, excluding licensed cellular IoT. Global mobile revenues are expected to hit $1.2 trillion by 2030. The growing digitization of everything points to near ubiquitous connectivity needs, which each of our business lines is ideally positioned to tap into.
This slide shows the way, the roadmap to scale up a user base to build a full marketplace. By continuously developing innovative new solutions while refining our existing offerings, our Wi-Fi dongles, the solutions bring us, accumulate 3 million user base to our platform. There are daily active terminals now. It is more than 300,000 terminals.
So these mobile Wi-Fi dongles will continue to accumulate a new user base to our platform to millions of levels, millions of levels. But the new product solutions here, like GlocalMe SIM, GlocalMe Life, and IoT solutions, will give our scalable user base to more than 10 million user numbers to our platforms. So when our platform accumulates 10 million user base, so the full marketplace is achievable on a global platform.
So since the inception of business in the year 2014, so we have proved our business is profitable through providing a service solution for the international roaming service. We also launched our local business in the year 2018, so to offer a solution for users in their home countries. So after 10 years providing quality in the international roaming service and a local service, so we began exploring business opportunities beyond portable Wi-Fi terminal.
So now we make our transition into uCloudlink 3.0. That's a full marketplace and a global ecosystem. Sorry, I stuck in this page.
There we go.
We recently reorganized ourselves into four distinct business lines. Okay. First, our GlocalMe mobile fixed broadband business primarily offers products for international roaming and a local data solution like portable Wi-Fi terminals. Our 5G mobile Wi-Fi dongles provide the broadest coverage for 5G in more than 70 countries. That's us ranking number one for coverage of 5G across worldwide. For GlocalMe Life, we apply a solution to GlocalMe Life scenarios.
We bring some product. It's a RoamPlug. This is a product when you travel, you don't need to bring with Wi-Fi function on the RoamPlug, multifunction adapters. When you power on the Wi-Fi with our CloudSIM solutions. And also we apply our positioning and CloudSIM solution into a key tracker, a smart tracker. These trackers embed six-fold positioning technologies.
So more than Bluetooth, we have GPS, LBS, and Radio locations, and radar, Wi-Fi radars, Bluetooth technology embedded into one device as well. So we also apply our solution to charge cable car. So this charge cable car embeds mobile Wi-Fi functions and also GPS positioning technologies. So when you put in your car or your outdoor camera, so this Wi-Fi on and GPS positioning function as well. Don't show on the screen.
So we don't need this share screen. I just talk through this story. Yeah. So we launched we will launch a new solution to the SIM. So this is not a general SIM. We embed three SIM technologies into one SIM. So we embed SoftSIM technologies, eSIM technologies, and also CloudSIM technology into one SIM card.
We view this SIM card as a good, a better second SIM card applied to various users, whether they use iPhone or Android phone. So this is a low cost to the company. Each SIM card may cost the company a couple of dollars. So we can distribute this SIM card to potential worldwide users on the scale of millions, 10 million size. So that's a very efficient way and a low-cost way for a company to gain additional 10 million users into our platform, make our marketplace develop to a worldwide full marketplace.
So we will launch these solutions recently, and this innovative SIM card will be launched soon in the near future. So these all solutions will give a company a turning point to gain additional user numbers more than 10 million in the next couple of years.
So we believe the scale-up use basis will bring a more revenue stream and more value service revenue to the company account. So that's our turning point today we try to deliver to the market. Yeah. It's coming. So let's quick through this. The team, the company team, the management team. No, not correct. Yeah. Okay. Anyway, so I cannot illustrate the presentation.
So anyway, so I think the tale of the whole story is uCloudlink now builds a global platform to support the worldwide more than 10 million users on our platform. So our business is profitable even today on the size of 300,000 daily active terminals. We deliver profitability, and also we generate strong operating cash flows. So assets like business models.
So we now develop a business beyond mobile Wi-Fi to various daily scenarios to gain more user numbers on roaming, cross-border, or on the local application scenarios. So we think uCloudlink is an attractive investment platform. So that's a story today I try to present to you. So it's time to open our questions. Thank you. Thank you.
Does your technology work better than the SIM?
It's not our technology. It's to solve this problem, IT problem.
How long has your company been around?
Well.
How many years?
We set up the company in the year 2014. So it's 10 years of operation so far. So this 10 years, we grew from one country. Now we have a business across 60 countries and regions. Yeah. Our business is a cash cow asset-light business. So it's a good business. Yeah.
Is your goal as a company to get bigger and bigger, or are you trying to get acquired? What's your plan?
Yes. That's why I came here to tell the story of futures of growth. Yeah. So even today we make profit. We generate a very strong operating cash flow. But it's not the end of our stories. It's a starting point for a company to grow either by organic growth to scale up a user basis, or we scale up a user basis by massive investments, marketing. Say for this SIM, innovative SIM, we can deliver as free to the potential users worldwide, millions, 10 million.
The cost to companies, 20 million, 30 million, cash or something. So we are ready to prepare the scale-up business to 10 million user basis size as a global platform. Compared with today, that scale of user base may be scaled up by 10 times or even 20 or 50 times. We believe we will achieve that in the future. We'll spare no efforts to achieve that, scale our business as a worldwide platform, a giant company with 10 million, or even 100 million users connected to our platform.
Your stock price doesn't seem as reflecting your positive achievements.
Yeah.
In your sales.
Yeah. In the past, since the listings, we have been blocked by the COVID-19 for three years. So that's why I came here, to tell the story again to the market. So we need to minimize the communication gap between the company and the capital market. Yeah. Tell the markets what our future growth, what our views on our platform, and our roadmap to achieve that future.