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Ubiquiti Inc.

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Ubiquiti Inc. • NYSE
$583.09 ▲ 1.42% (+8.17)
Market Cap $35.28 B
52w High $803.60
52w Low $255.00
Dividend Yield 2.80%
P/E 44.65
Volume 63.42K
Outstanding Shares 60.50M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q1-2026 $733.773M ▼ $75.687M ▼ $207.876M ▼ 28.33% ▼ $3.44 ▼ $266.811M ▲
Q4-2025 $759.152M ▲ $81.328M ▲ $266.705M ▲ 35.132% ▲ $4.41 ▲ $265.688M ▲
Q3-2025 $664.17M ▲ $69.013M ▲ $180.435M ▲ 27.167% ▲ $2.98 ▲ $233.766M ▲
Q2-2025 $599.879M ▲ $68.418M ▲ $136.795M ▲ 22.804% ▼ $2.26 ▲ $183.396M ▲
Q1-2025 $550.344M $62.412M $127.988M 23.256% $2.12 $175.332M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q1-2026 $177.195M ▲ $1.49B ▲ $661.833M ▼ $828.444M ▲
Q4-2025 $149.727M ▼ $1.466B ▲ $798.191M ▼ $668.26M ▲
Q3-2025 $150.967M ▲ $1.298B ▲ $862.155M ▼ $436.113M ▲
Q2-2025 $133.088M ▼ $1.184B ▲ $893.273M ▼ $290.445M ▲
Q1-2025 $165.175M $1.158B $969.779M $188.139M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q1-2026 $207.876M ▼ $198.452M ▲ $-5.158M ▲ $-165.826M ▼ $27.468M ▲ $193.294M ▲
Q4-2025 $266.705M ▲ $130.356M ▲ $-5.168M ▼ $-126.428M ▼ $-1.24M ▼ $125.188M ▲
Q3-2025 $180.434M ▲ $123.573M ▼ $-2.828M ▼ $-102.866M ▲ $17.879M ▲ $120.745M ▼
Q2-2025 $136.795M ▲ $152.431M ▼ $-1.986M ▲ $-182.532M ▲ $-32.087M ▼ $150.445M ▼
Q1-2025 $127.988M $233.667M $-2.604M $-192.23M $38.833M $231.063M

Revenue by Products

Product Q2-2025Q3-2025Q4-2025Q1-2026
Enterprise Technology
Enterprise Technology
 $520.00M ▲$590.00M ▲$680.00M ▲$660.00M ▼
Service Provider Technology
Service Provider Technology
 $80.00M ▲$80.00M ▲$80.00M ▲$80.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has moved from a flat patch into clear growth, with the latest year showing a strong step up from the previous few years. Profitability looks attractive: gross and operating margins are high and have widened again after a softer period, suggesting better pricing power and cost control. Net income and earnings per share have rebounded sharply from the mid‑period dip, though the history still shows that results can be quite volatile from year to year. Overall, this is a high‑margin business that has regained momentum, but with earnings that can swing when conditions change.

Balance Sheet

Balance Sheet The balance sheet has improved notably. Debt levels, which had built up earlier, have been brought down to a much lighter level, reducing financial risk. Shareholders’ equity has moved from negative into clearly positive territory, indicating that past balance‑sheet strain has eased and the company now has a more solid capital base. Cash on hand is reasonable but not abundant, so the company still depends on continuing strong cash generation rather than a large cash cushion.

Cash Flow

Cash Flow Cash generation has been a strong point over the five‑year period, with solid operating cash flow and free cash flow in most years. There was one year of weak, negative cash flow, which highlights that working‑capital swings or supply‑chain dynamics can hit cash even when the business looks healthy on paper. Capital spending needs are low relative to cash generated, underscoring an asset‑light, cash‑generative model. Recently, cash flows have recovered well, aligning with the rebound in profits and supporting the reduced reliance on debt.

Competitive Edge

Competitive Edge Ubiquiti operates in a very competitive networking market but has carved out a distinctive niche. Its key strengths are the integrated UniFi ecosystem, disruptive pricing, and license‑free software, which together offer enterprise‑level capabilities at lower lifetime cost. A large and loyal user community effectively acts as both support network and marketing engine, reinforcing the brand and lowering selling costs. The main risks are intensifying competition from both low‑cost rivals and large incumbents, and the company’s reliance on its unconventional, community‑driven go‑to‑market approach continuing to work as it scales.

Innovation and R&D

Innovation and R&D Innovation is central to the story: Ubiquiti channels much of its effort into engineering and rapid product development rather than traditional sales and marketing. It is pushing into newer standards like WiFi 7, expanding its UniFi ecosystem into storage, power, video security, and access control, and layering on AI‑driven software features for management and security. This broad, tightly integrated product roadmap creates many cross‑selling opportunities and increases switching costs for customers who adopt multiple components. The flip side is execution risk: the company must keep products reliable, security‑hardened, and easy to use across a widening portfolio to maintain its reputation and moat.

Summary

Financially, Ubiquiti has moved from a period of pressure to one of renewed strength: revenue is growing again, margins are high, cash flow has recovered, and the balance sheet is much cleaner with lower debt and positive equity. Strategically, it benefits from a well‑regarded, integrated ecosystem, low total cost of ownership for customers, and a uniquely engaged community, all of which support a defensible competitive position. At the same time, its history shows that earnings and cash flow can be lumpy, the company operates in a fiercely competitive hardware‑driven market, and it carries only a moderate cash buffer. The overall picture is of a high‑margin, innovation‑led business with a stronger financial foundation than a few years ago, but still exposed to industry cycles, competitive pressures, and ongoing execution demands on its expanding product platform.

NEWS

November 7, 2025 · 7:06 AM UTC

Ubiquiti Inc. Reports First Quarter Fiscal 2026 Financial Results

Read more