Ubiquiti Q3 FY2022 revenue $358M, down 23% YoY; GAAP EPS $0.82; new $200M buyback

Ubiquiti Inc.

2022-Q3 EPS reported $4.61 revenue$1,248,547,000

Revenue $358.1M, down 23.4% YoY and 17% sequentially; Enterprise Tech $295M, Service Provider $63M.
GAAP net income $50.4M ($0.82 diluted EPS) vs $146.1M ($2.32) a year ago; non-GAAP EPS $0.83.
Gross margin fell to 32.4% from 47.7% YoY, driven by higher component, shipping and overhead costs.
Board declared $0.60/share dividend payable May 23 to holders of record May 16.
New $200M stock repurchase program authorized through Sept 30, 2023; Q3 saw 1,264,974 shares repurchased at avg $272.50.

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