Revenue Growth - Total revenues increased by $87.3 million, or 19%, from $463.1 million in Q3 2023 to $550.3 million in Q3 2024[108] - Enterprise Technology revenue increased by $90.1 million, or 24%, from $380.1 million in Q3 2023 to $470.2 million in Q3 2024[109] - Service Provider Technology revenue decreased by $2.8 million, or 3%, from $83.0 million in Q3 2023 to $80.2 million in Q3 2024[111] - North America revenues increased by $46.5 million, or 21%, from $224.8 million in Q3 2023 to $271.2 million in Q3 2024[112] - EMEA revenues increased by $32.5 million, or 19%, from $172.4 million in Q3 2023 to $204.9 million in Q3 2024[113] - Asia Pacific revenues increased by $4.9 million, or 13%, from $36.1 million in Q3 2023 to $40.9 million in Q3 2024[115] - South America revenues increased by $3.5 million, or 12%, from $29.8 million in Q3 2023 to $33.3 million in Q3 2024[116] Profitability - Gross profit margin improved to 42% in Q3 2024, up from 40% in Q3 2023[108] - Net income rose to $127.988 million, or 23% of revenues, in Q3 2024 compared to $87.750 million, or 19% of revenues, in Q3 2023[108] - Gross profit margin increased to 42.1% in Q3 2024, compared to 39.7% in Q3 2023[117] Expenses - Research and development expenses increased to $37.997 million, or 7% of revenues, in Q3 2024 from $36.283 million, or 8% of revenues, in Q3 2023[108] - Sales, general and administrative expenses rose to $24.415 million, or 4% of revenues, in Q3 2024 from $19.290 million, or 4% of revenues, in Q3 2023[108] - R&D expenses increased by $1.7 million, or 5%, from $36.3 million in Q3 2023 to $38.0 million in Q3 2024[118] - SG&A expenses increased by $5.1 million, or 27%, from $19.3 million in Q3 2023 to $24.4 million in Q3 2024[120] Financial Obligations - The company has $1,134.3 million in purchase commitments with third-party manufacturers as of September 30, 2024[141] - A $28.1 million obligation related to the transition tax on accumulated foreign earnings is expected to be settled in Q1 2026[142] - Other obligations totaling $6.2 million primarily consist of research and development project commitments as of September 30, 2024[143] - Unrecognized tax benefits amount to $34.6 million, with an additional $5.4 million in accrued interest as of September 30, 2024[144] Cash and Interest - Cash and cash equivalents were $165.2 million as of September 30, 2024, up from $126.3 million as of June 30, 2024[147] - Interest expense and other, net decreased by $10.6 million, or 50%, from $21.2 million in Q3 2023 to $10.6 million in Q3 2024[122] - A 200-basis-point increase in interest rates could result in an incremental charge of $11.1 million to income before taxes over the next 12 months[148] Currency Impact - A 10% fluctuation in the U.S. dollar relative to other currencies would impact income before taxes by approximately $3.0 million for Q3 2024[150] - A 10% change in the U.S. dollar relative to foreign currencies would affect income before taxes by approximately $6.1 million for fiscal year 2024[151] Sales Distribution - Sales to distributors accounted for 57% of revenues, while direct sales accounted for 43% in Q3 2024[97] Supply Chain and Operations - The company operates warehouses in the U.S., Europe, and Asia Pacific, and outsources logistics warehousing and order fulfillment functions primarily in Vietnam[99] - The company's products imported into the U.S. from China are subject to tariffs ranging between 7.5% and 25%, affecting operating results and margins[100] - The company monitors the Russia-Ukraine military conflict and China-Taiwan tensions, which could impact global supply chains and operations[91][92] - The company's inventory and vendor deposit balances have increased due to efforts to mitigate supply constraints, raising risks of future material excess and obsolete inventory[90]

Ubiquiti Inc. (UI) could be a solid choice for investors given its recent upgrade to a Zacks Rank #1 (Strong Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices. The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system. Ind ...

For Immediate Releases Chicago, IL – September 16, 2024 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Ubiquiti Inc. (UI) , Spotify Technology S.A. (SPOT) , DocuSign Inc. (DOCU) , Vertiv Holdings Co. (VRT) and Universal Health Services Inc. (UHS) . Here are highlights from Monday's Analyst Blog: Buy 5 Large-Cap Growt ...

A post-earnings price target cut didn't do the company any favors. Wireless networking equipment and solutions specialist Ubiquiti (UI -10.22%) suffered a double-digit drop in its share price on the second trading day of the week. This wasn't due to any news coming directly from the company; rather, the stock was influenced by an analyst's latest take. This helped drive Ubiquiti's price down by over 10% on the day, against the S&P 500 index's gain of 0.2%. Time for a price target trim Well before market ope ...

The company got a post-earnings upgrade, despite a headline revenue "miss." Shares of Ubiquiti (UI 6.84%) rallied 7% on Monday as of 12:19 p.m. ET, despite the technology sector largely being deeply in the red today. Ubiquiti doesn't really move with the indexes, though, as it's not part of most indexes due to its extremely high insider ownership and minimal disclosures. Still, that doesn't mean you should ignore this interesting company, as evidenced by today's move and the stock's long-term performance. A ...

Core Insights - Ubiquiti reported earnings per share (EPS) of $1.74, exceeding the analyst estimate of $1.73 [1] - The company's revenue for the fourth quarter of 2024 was $507.46 million, which was 0.81% lower than the analyst estimate of $511.62 million [1]

Ubiquiti, Inc. (UI) reported mixed fourth-quarter fiscal 2024 results, with the bottom beating the Zacks Consensus Estimate but the top line missing the same. The New York-based networking products and solutions providers reported revenue growth year over year, owing to healthy traction in the Enterprise Technology vertical. Ubiquiti's Net Income Net income, on a GAAP basis, in the quarter was $103.8 million or $1.72 per share compared with $103.7 million or $1.72 per share in the year-ago quarter. Despite ...

Ubiquiti Inc. (UI) came out with quarterly earnings of $1.74 per share, beating the Zacks Consensus Estimate of $1.67 per share. This compares to earnings of $1.73 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 4.19%. A quarter ago, it was expected that this computer networking company would post earnings of $1.79 per share when it actually produced earnings of $1.28, delivering a surprise of -28.49%. Over the last four quart ...

U.S. stock futures were higher this morning, with the Dow futures gaining around 150 points on Friday. Shares of Ubiquiti Inc. UI fell sharply in today's pre-market trading after the company reported worse-thanexpected fourth-quarter sales results. Ubiquiti reported quarterly earnings of $1.74 per share which beat the analyst consensus estimate of $1.73 per share. The company reported quarterly sales of $507.46 million which missed the analyst consensus estimate of $511.62 million. Ubiquiti shares dipped 7. ...

Exhibit 99.1 UBIQUITI INC. REPORTS FOURTH QUARTER FISCAL 2024 FINANCIAL RESULTS ~ Record Revenues of $507.5 million ~ ~ GAAP Diluted Earnings Per Share of $1.72 ~ New York, NY - August 23, 2024 - Ubiquiti Inc. (NYSE: UI) ("Ubiquiti" or the "Company") today announced its financial results for the fourth quarter and full year fiscal 2024, ended June 30, 2024. Fourth Quarter Fiscal 2024 Financial Summary • Revenues of $507.5 million • GAAP diluted EPS of $1.72 • Non-GAAP diluted EPS of $1.74 Full Fiscal 2024 F ...