Ubiquiti Q1 revenue up 8.5% to $498M; GAAP net income down 30% on margin compression

Ubiquiti Inc.

2023-Q1 EPS reported $1.54 revenue$498,083,000

Revenue $498.1M, up 12.4% sequentially and 8.5% YoY; Enterprise Technology grew, Service Provider declined.
GAAP diluted EPS $1.54 (down 27% YoY); non-GAAP diluted EPS $1.55.
Gross margin 34.4%, down from 45.6% YoY due to product mix, higher component and shipping costs.
Declared $0.60/share quarterly dividend, payable Nov 21, 2022 to holders of record Nov 14.
Global component supply shortage and COVID-19 continue to disrupt order fulfillment and increase costs.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Ubiquiti Inc. reported the first quarter fiscal 2023, ended September 30, 2022 results: revenue Revenues of $498.1 million, net income GAAP net income was $93.2 million, EPS GAAP Diluted Earnings Per Share of $1.54.

Period: the first quarter fiscal 2023, ended September 30, 2022
Revenue: Revenues of $498.1 million
Net income: GAAP net income was $93.2 million
EPS: GAAP Diluted Earnings Per Share of $1.54
Result: reported results

Exact text from the filing

by reference, except as otherwise expressly stated in such filing. --- EX-99.1 (EX-99.1) --- UBIQUITI INC. REPORTS FIRST QUARTER FISCAL 2023 FINANCIAL RESULTS ~ Revenues of $498.1 million ~ ~ GAAP Diluted Earnings Per Share of $1.54 ~ New York, NY - November 4, 2022 - Ubiquiti Inc. (NYSE: UI) ("Ubiquiti" or the "Company") today announced its financial results for

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Source: SEC EDGAR

accession 0001511737-22-000070

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