Ubiquiti Q3 FY2024 revenue $493M (+7.7% YoY); GAAP EPS $1.26 (-22.7% YoY); gross margin falls to 35.3%

Ubiquiti Inc.

2024-Q3 EPS reported $4.07 revenue$1,421,029,000

Revenue $493.0M, up 6.0% QoQ and 7.7% YoY; Enterprise Technology segment up 10.9% to $414.3M.
GAAP diluted EPS $1.26 (down 22.7% YoY); Non-GAAP diluted EPS $1.28 (down 22.4% YoY). Net income $76.3M.
Gross margin 35.3% vs 41.2% YoY due to excess inventory charges, unfavorable product mix, and higher warehouse costs.
Declared $0.60/share cash dividend payable May 28, 2024 to holders of record May 20, 2024.
Service Provider Technology revenue declined 6.5% YoY to $78.7M; total operating expenses rose to $62.9M.

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 0.9

Ubiquiti Inc. reported the fiscal quarter ended March 31, 2024 results: revenue $493.0 million, net income $76.3 million, EPS $1.26.

Period: the fiscal quarter ended March 31, 2024
Revenue: $493.0 million
Net income: $76.3 million
EPS: $1.26
Result: reported results

Exact text from the filing

UBIQUITI INC. REPORTS THIRD QUARTER FISCAL 2024 FINANCIAL RESULTS ~ Revenues of $493.0 million ~ ~ GAAP Diluted Earnings Per Share of $1.26 ~

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Source: SEC EDGAR

accession 0001511737-24-000028

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