Financial Performance - Revenues for Q2 Fiscal 2025 reached $599.9 million, a 9.0% increase from the prior quarter and a 29.0% increase year-over-year[8] - GAAP diluted earnings per share (EPS) for Q2 Fiscal 2025 was $2.26, reflecting a 66.2% increase compared to the same period last year[18] - Non-GAAP diluted EPS for Q2 Fiscal 2025 was $2.28, representing a 65.2% increase year-over-year[18] - Gross profit for Q2 Fiscal 2025 was $247.2 million, with a gross margin of 41.2%, a decrease of 0.9% from the prior quarter but an increase of 3.0% year-over-year[9] - Net income for Q2 Fiscal 2025 was $136.8 million, a 66.6% increase from the same period last year[18] - Ubiquiti Inc. reported a net income of $136,795,000 for the three months ended December 31, 2024, compared to $127,988,000 for the previous quarter, representing a 6.4% increase[25] - Non-GAAP net income for the same period was $138,148,000, up from $129,268,000 in the prior quarter, indicating a 6.5% growth[25] - For the six months ended December 31, 2024, net income was $264,783,000, significantly higher than $169,866,000 for the same period in 2023, marking a 55.8% increase[25] - Non-GAAP net income for the six months ended December 31, 2024, was $267,416,000, compared to $172,152,000 in the prior year, showing a 55.4% growth[25] Expenses - Research and development (R&D) expenses for Q2 Fiscal 2025 were $40.0 million, up from $38.0 million in the prior quarter and $36.9 million in the same period last year[11] - Sales, general and administrative (SG&A) expenses for Q2 Fiscal 2025 were $28.5 million, an increase from $24.4 million in the prior quarter and $19.6 million year-over-year[13] - The company reported share-based compensation expenses of $1,793,000 for the three months ended December 31, 2024, which includes costs from revenues, R&D, and administrative expenses[25] Revenue Breakdown - Enterprise Technology revenues were $518.2 million, while Service Provider Technology revenues were $81.7 million for Q2 Fiscal 2025[4] - North America accounted for $321.6 million of total revenues in Q2 Fiscal 2025, a significant increase from $225.9 million in the same period last year[7] Shareholder Returns - The company declared a cash dividend of $0.60 per share, payable on February 24, 2025[3] Non-GAAP Financial Measures - Management emphasizes the importance of non-GAAP financial measures for evaluating operating performance and planning future periods[29] - The company believes that non-GAAP measures provide useful insights into financial trends and conditions, aiding investors in their assessments[28] - Non-GAAP adjustments exclude share-based compensation and tax effects, which may vary significantly based on company activities[30] Share Information - The diluted shares outstanding were 60,527,000 for the three months ended December 31, 2024, slightly up from 60,494,000 in the previous quarter[25]
Ubiquiti(UI) - 2025 Q2 - Quarterly Results