Ubiquiti(UI) - 2025 Q3 - Quarterly Results

Financial Performance - Revenues for Q3 FY2025 reached $664.2 million, a 10.7% increase from the previous quarter and a 34.7% increase year-over-year[8]. - GAAP diluted earnings per share (EPS) for Q3 FY2025 was $2.98, reflecting a 136.5% increase compared to the same period last year[17]. - Gross profit for Q3 FY2025 was $295.9 million, with a gross margin of 44.5%, up from 41.2% in the prior quarter and 35.3% year-over-year[9]. - Net income for Q3 FY2025 was $180.4 million, representing a 136.5% increase from the same period last year[17]. - Ubiquiti Inc. reported a net income of $180,435,000 for the three months ended March 31, 2025, compared to $136,795,000 for the same period in 2024, representing a year-over-year increase of 32%[24]. - Non-GAAP net income for the three months ended March 31, 2025, was $181,829,000, up from $138,148,000 in the prior year, reflecting a growth of 31.5%[24]. - For the nine months ended March 31, 2025, Ubiquiti Inc. achieved a net income of $445,217,000, significantly higher than $246,156,000 for the same period in 2024, indicating an increase of 80.9%[24]. Expenses - Research and development (R&D) expenses increased to $44.3 million in Q3 FY2025, compared to $40.0 million in the prior quarter and $42.5 million in the same period last year[11]. - Sales, general and administrative (SG&A) expenses decreased to $24.8 million in Q3 FY2025, down from $28.5 million in the prior quarter but up from $20.4 million year-over-year[13]. - Share-based compensation expenses for the three months ended March 31, 2025, amounted to $1,848,000, which includes costs from revenues, research and development, and sales, general and administrative[24]. Revenue Breakdown - Enterprise Technology revenues were $585.7 million in Q3 FY2025, up from $518.2 million in the prior quarter and $414.3 million year-over-year[4]. - North America accounted for $322.7 million of total revenues in Q3 FY2025, an increase from $242.5 million in the same period last year[7]. Earnings Per Share - Non-GAAP diluted earnings per share (EPS) increased to $3.00 for the three months ended March 31, 2025, compared to $2.28 for the same period in 2024, marking a rise of 31.5%[24]. - The company’s non-GAAP diluted EPS for the nine months ended March 31, 2025, was $7.42, compared to $4.13 in the same period of the previous year, reflecting an increase of 79.5%[24]. Dividends and Future Outlook - The Company declared a cash dividend of $0.60 per share, payable on May 27, 2025[3]. - Future outlook includes continued focus on expanding networking technology globally, with operations in over 200 countries[18]. Non-GAAP Financial Measures - Ubiquiti Inc. emphasizes the importance of non-GAAP financial measures for evaluating operating performance and planning future periods, as these measures exclude certain costs and tax effects[28]. - The company believes that non-GAAP financial information provides useful insights into financial trends and conditions, aiding investors in their assessments[27]. - Management uses non-GAAP net income and earnings per diluted share as primary indicators for operational performance and to meet specified targets[28]. - The reconciliation of GAAP net income to non-GAAP net income highlights the adjustments made, including share-based compensation and tax effects, which are critical for understanding the company's financial results[30].