secwatch.observer — SEC 8-K summary
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Issuer:     Ubiquiti Inc. (UI)
CIK:        0001511737
Form:       8-K
Filed at:   2024-05-10T23:59:59+00:00
Accession:  0001511737-24-000028
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1511737/000151173724000028/0001511737-24-000028-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1511737/000151173724000028/ui-20240510.htm
  HTML page:      https://secwatch.observer/filing/0001511737-24-000028

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer