Ubiquiti Inc. Files Q2 FY25 10-Q Report

TL;DR

Ubiquiti Inc. 10-Q filed for Q2 FY25. Check financials.

AI Summary

Ubiquiti Inc. filed its 10-Q for the period ending December 31, 2024. The filing covers the second quarter and first half of fiscal year 2025. Key financial data and operational details for Ubiquiti Inc. are presented in this report.

Why It Matters

This filing provides investors with a detailed look at Ubiquiti Inc.'s financial performance and position as of the end of the second quarter of fiscal year 2025.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags.

Key Numbers

• 20241231 — Reporting Period End Date (Indicates the end of the fiscal quarter and year-to-date period covered by the report.)
• 20250207 — Filing Date (The date on which Ubiquiti Inc. submitted this 10-Q filing to the SEC.)

Key Players & Entities

• Ubiquiti Inc. (company) — Filer of the 10-Q report.
• 20241231 (date) — End of the reporting period for the 10-Q.
• 20250207 (date) — Filing date of the 10-Q.
• 0001511737 (company) — Central Index Key for Ubiquiti Inc.

FAQ

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 par value per share UI New York Stock E
• $0 — 0,337 shares of Common Stock, par value $0.001, were issued and outstanding. 2

Filing Documents

• ubnt-20241231.htm (10-Q) — 1245KB
• ubnt-123124xex311.htm (EX-31.1) — 9KB
• ubnt-123124xex312.htm (EX-31.2) — 9KB
• ubnt-123124xex321.htm (EX-32.1) — 9KB
• 0001511737-25-000013.txt ( ) — 6201KB
• ubnt-20241231.xsd (EX-101.SCH) — 44KB
• ubnt-20241231_cal.xml (EX-101.CAL) — 85KB
• ubnt-20241231_def.xml (EX-101.DEF) — 178KB
• ubnt-20241231_lab.xml (EX-101.LAB) — 569KB
• ubnt-20241231_pre.xml (EX-101.PRE) — 380KB
• ubnt-20241231_htm.xml (XML) — 789KB

: FINANCIAL INFORMATION

PART I: FINANCIAL INFORMATION 4

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) 4 Consolidated Balance Sheets 4 Consolidated Statements of Operations and Comprehensive Income 5 Consolidated Statements of Stockholders' Equity (Deficit) 6 Consolidated Statements of Cash Flows 7

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 8

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 19

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 29

Controls and Procedures

Item 4. Controls and Procedures 29

: OTHER INFORMATION

PART II: OTHER INFORMATION 31

Legal Proceedings

Item 1. Legal Proceedings 31

Risk Factors

Item 1A. Risk Factors 31

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 54

Defaults upon Senior Securities

Item 3. Defaults upon Senior Securities 54

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 54

Other Information

Item 5. Other Information 54

Exhibits

Item 6. Exhibits 55

Signatures

Signatures 56 3 Table of Contents

: FINANCIAL INFORMATION

PART I: FINANCIAL INFORMATION

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) UBIQUITI INC. Consolidated Balance Sheets (In thousands, except share and per share data) (Unaudited) December 31, 2024 June 30, 2024 Assets Current assets: Cash and cash equivalents $ 133,088 $ 126,342 Accounts receivable, net of allowance for doubtful accounts of $ 6,024 and $ 498 at December 31, 2024 and June 30, 2024, respectively 167,883 169,147 Inventories 537,344 462,032 Vendor deposits 73,707 123,461 Prepaid expenses and other current assets 49,639 35,031 Total current assets 961,661 916,013 Property and equipment, net 75,217 81,126 Operating lease right-of-use assets, net 42,727 47,768 Deferred tax assets 35,985 35,934 Other long-term assets 68,128 73,571 Total assets $ 1,183,718 $ 1,154,412 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 122,001 $ 51,095 Income taxes payable 32,019 23,475 Debt — short-term 24,410 36,508 Other current liabilities 253,864 173,713 Total current liabilities 432,294 284,791 Income taxes payable — long-term 28,355 53,599 Operating lease liabilities — long-term 32,721 37,176 Debt — long-term 381,104 669,878 Deferred tax liability — long-term — 492 Other long-term liabilities 18,799 13,416 Total liabilities 893,273 1,059,352 Commitments and contingencies (Note 9) Stockholders' equity: Preferred stock—$ 0.001 par value; 50,000,000 shares authorized; none issued — — Common stock—$ 0.001 par value; 500,000,000 shares authorized: 60,470,517 and 60,462,539 issued and outstanding as of December 31, 2024 and June 30, 2024, respectively 60 60 Additional paid–in capital 13,811 10,645 Retained earnings 276,574 84,355 Total stockholders' equity 290,445 95,060 Total liabilities and stockholders' equity $ 1,183,718 $ 1,154,412 See accompanying notes to consolidated financial statements (unaudited). 4 Table of Contents UBIQUITI INC. Consolidated Statements of Operations and Comprehensive Income (In thousands, except p

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements (Unaudited) NOTE 1— BUSINESS AND BASIS OF PRESENTATION Business — Ubiquiti Inc. and its wholly owned subsidiaries (collectively, "Ubiquiti" or the "Company") develop high performance networking technology for service providers, enterprises, and consumers globally. The Company operates on a fiscal year ending June 30. In these notes, Ubiquiti refers to the fiscal years ending June 30, 2025 and 2024, as fiscal 2025 and fiscal 2024, respectively. Basis of Presentation — The Company's consolidated financial statements and accompanying notes are prepared in accordance with U.S. generally accepted accounting principles ("GAAP") related to interim financial statements based on applicable Securities and Exchange Commission ("SEC") rules and regulations. Accordingly, they do not include all the information and footnotes required by GAAP for complete financial statements. These consolidated financial statements reflect all adjustments, which are, in the opinion of the Company, of a normal and recurring nature and those necessary to state fairly the statements of financial position, results of operations and cash flows for the dates and periods presented. The June 30, 2024 balance sheet was derived from the audited consolidated financial statements as of that date. All significant intercompany transactions and balances have been eliminated. These consolidated financial statements should be read in conjunction with the Company's audited consolidated financial statements for the fiscal year ended June 30, 2024, included in its Annual Report on Form 10-K, as filed with the SEC on August 23, 2024 (the "Annual Report"). The results of operations for the three and six months ended December 31, 2024 are not necessarily indicative of the results to be expected for any future periods. NOTE 2— SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The Company's significant accounting policies are disclosed in its audited consolidated financi

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View this 10-Q filing on SEC EDGAR