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 ...

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 ...

Shares of Ubiquiti Inc. (UI) have surged 39.1% over the past six months, driven by an accretive customer base and healthy revenues on the back of a flexible business model. With healthy fundamentals, this Zacks Rank #2 (Buy) wireless equipment manufacturer appears to be a solid investment option at the moment. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Image Source: Zacks Investment Research Growth Drivers With the wide proliferation of the Internet and exponential grow ...

Financial Performance - Revenues for Q3 fiscal 2024 were $493.0 million, an increase of 6.0% from the prior quarter and 7.7% from the same period last year[8]. - GAAP diluted earnings per share (EPS) for Q3 fiscal 2024 was $1.26, reflecting a decrease of 22.7% compared to the same period last year[19]. - Non-GAAP diluted EPS for Q3 fiscal 2024 was $1.28, down 22.4% from the comparable prior year period[19]. - Gross profit for Q3 fiscal 2024 was $174.1 million, with a gross margin of 35.3%, down from 38.2% in the prior quarter and 41.2% in the same period last year[10]. - Net income for the three months ended March 31, 2024, was $76,290,000, a decrease of 7% from $82,116,000 in the previous quarter[27]. - Non-GAAP net income for the same period was $77,555,000, down 7% from $83,261,000 quarter-over-quarter[27]. - For the nine months ended March 31, 2024, net income totaled $246,156,000, down 19% from $303,964,000 in the same period last year[27]. - Non-GAAP net income for the nine months ended March 31, 2024, was $249,708,000, a decrease of 18% from $306,557,000 year-over-year[27]. Expenses - Research and development (R&D) expenses increased to $42.5 million in Q3 fiscal 2024, up from $36.9 million in the prior quarter and $38.2 million in the same period last year[12]. - Sales, general and administrative (SG&A) expenses were $20.4 million in Q3 fiscal 2024, compared to $19.6 million in the prior quarter and $16.7 million in the same period last year[14]. - Interest expense and other net expenses were $18.9 million in Q3 fiscal 2024, an increase from $18.3 million in the prior quarter and $16.5 million in the same period last year[16]. - The company reported share-based compensation expenses of $1,664,000 for the three months ended March 31, 2024, compared to $1,506,000 in the previous quarter[27]. Revenue Segmentation - Total revenues from the Enterprise Technology segment were $414.3 million, while Service Provider Technology revenues were $78.7 million in Q3 fiscal 2024[4]. - North America generated $242.5 million in revenues, while Europe, the Middle East, and Africa contributed $200.7 million in Q3 fiscal 2024[7]. Dividends - The Company declared a cash dividend of $0.60 per share, payable on May 28, 2024[3]. Non-GAAP Financial Measures - Management uses non-GAAP financial measures to evaluate operating performance and facilitate comparability of results across periods[31]. - Non-GAAP measures are adjusted to exclude certain costs, including share-based compensation and tax effects, to provide a clearer view of operational performance[32]. - The company emphasizes that non-GAAP financial measures should not be considered a substitute for GAAP measures, as they have limitations in reflecting certain items impacting financial results[32].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-35300 UBIQUITI INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorp ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-35300 UBIQUITI INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of inc ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-35300 UBIQUITI INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of in ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission File No. 001-35300 UBIQUITI INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of i ...