Ubiquiti(UI) - 2026 Q1 - Quarterly Results

Financial Performance - Revenues for the first quarter of fiscal 2026 were $733.8 million, a decrease of 3.3% from the prior quarter and an increase of 33.3% year-over-year[7]. - GAAP diluted earnings per share (EPS) was $3.43, reflecting a 61.8% increase compared to the same period last year[17]. - Non-GAAP diluted EPS was $3.46, up 61.7% from the prior year[17]. - Gross profit was $337.4 million, with a gross margin of 46.0%, an increase of 0.9% from the previous quarter and 3.9% year-over-year[9]. - GAAP net income was $207.9 million, a 62.4% increase from the prior year[17]. - Revenues from the Enterprise Technology segment were $657.1 million, up from $470.2 million year-over-year[4]. - North America generated $382.8 million in revenues, significantly up from $271.2 million in the prior year[6]. Expenses - Research and development (R&D) expenses were $48.5 million, up from $38.0 million in the prior year[11]. - Sales, general and administrative (SG&A) expenses decreased to $27.1 million from $33.9 million in the prior quarter but increased from $24.4 million year-over-year[13]. Dividends - The company declared a cash dividend of $0.80 per share, payable on November 24, 2025[3]. Non-GAAP Financial Measures - The company emphasizes the importance of non-GAAP net income and non-GAAP earnings per diluted share for understanding financial trends and planning future periods[28]. - Non-GAAP net income and non-GAAP earnings per diluted share are adjusted from GAAP figures to exclude certain non-cash expenses and significant items[29]. - The adjustments include share-based compensation expense, tax effects of non-GAAP adjustments, and deferred tax benefits from intangibles realignment[31]. - Non-GAAP measures are not in accordance with GAAP and may differ materially from similar measures used by other companies[29]. - The company provides non-GAAP information to facilitate comparability of operating performance across periods[28]. - Limitations of non-GAAP financial measures include not reflecting certain items that may materially impact reported financial results[29]. - A reconciliation table of GAAP net income to non-GAAP net income is included in the press release for further details[30].