Ubiquiti(UI) - 2026 Q2 - Quarterly Results

Financial Performance - Revenues for Q2 Fiscal 2026 reached $814.9 million, a 35.8% increase year-over-year[4] - GAAP diluted earnings per share (EPS) was $3.86, reflecting a 70.8% increase from the prior year[18] - Non-GAAP diluted EPS was $3.88, also up 70.2% compared to the same period last year[18] - Gross profit for the quarter was $374.0 million, with a gross margin of 45.9%, up from 41.2% year-over-year[9] - Income from operations was $292.9 million, up from $178.8 million in the same quarter last year[4] - Ubiquiti Inc. reported a net income of $233,610,000 for the three months ended December 31, 2025, compared to $207,876,000 for the previous quarter, representing an increase of 12.5%[25] - Non-GAAP net income for the same period was $235,059,000, up from $209,310,000 in the prior quarter, reflecting a growth of 12.3%[25] - For the six months ended December 31, 2025, net income was $441,486,000, significantly higher than $264,783,000 for the same period in 2024, indicating a year-over-year increase of 66.8%[25] - Non-GAAP net income for the six months ended December 31, 2025, was $444,369,000, compared to $267,416,000 in the prior year, reflecting a growth of 66.1%[25] Expenses - Research and development (R&D) expenses increased to $50.8 million, up from $40.0 million in the same quarter last year[11] - Sales, general and administrative (SG&A) expenses rose to $30.3 million, compared to $28.5 million in the prior year[13] - Total operating expenses for the quarter were $81.1 million, compared to $68.4 million in the prior year[4] Revenue Sources - North America contributed $443.6 million to total revenues, a significant increase from $321.6 million in the prior year[7] Dividends - The company declared a cash dividend of $0.80 per share, payable on February 23, 2026[3] Non-GAAP Financial Measures - The company emphasizes the importance of non-GAAP financial measures for evaluating operating performance and planning future periods[29] - Adjustments to GAAP results include share-based compensation expenses and the tax effects of these adjustments, which are excluded to provide a clearer view of operational performance[30] - Management believes that non-GAAP measures facilitate comparability of operating performance across periods, aiding in investor analysis[29] - The company aims to provide investors with insights into its financial condition and operational trends through the use of non-GAAP financial information[28]