$UI

Ubiquiti Networks, Inc.

CIK:0001511737|SEC Filings

Consolidated Statements of Operations and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2024
Income Statement [Abstract]
Revenues	$ 3,274,162	$ 2,573,545	$ 1,928,490
Cost of revenues	1,762,788	1,456,094	1,188,728
Gross profit	1,511,374	1,117,451	739,762
Operating expenses:
Research and development	204,166	169,672	159,768
Sales, general and administrative	121,766	111,499	80,997
Total operating expenses	325,932	281,171	240,765
Income from operations	1,185,442	836,280	498,997
Interest expense and other, net	2,367	30,628	75,169
Income before income taxes	1,183,075	805,652	423,828
Provision for income taxes	222,772	93,730	73,868
Net income	$ 960,303	$ 711,922	$ 349,960
Net income per share of common stock:
Basic (in dollars per share)	$ 15.87	$ 11.77	$ 5.79
Diluted (in dollars per share)	$ 15.85	$ 11.76	$ 5.79
Weighted average shares used in computing net income per share of common stock:
Basic (in shares)	60,510	60,480	60,454
Diluted (in shares)	60,570	60,534	60,458
Other comprehensive income:
Unrealized (losses) gains on available-for-sale investments	$ (4)	$ 0	$ 0
Other comprehensive (loss) income	(4)	0	0
Comprehensive income	$ 960,299	$ 711,922	$ 349,960

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2024
Cash Flows from Operating Activities:
Net income	$ 960,303	$ 711,922	$ 349,960
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	18,944	21,901	19,251
Amortization of debt issuance costs	1,016	2,022	1,725
Provision for excess and obsolete inventory	4,104	6,657	23,905
Provision for loss on vendor deposits	4,482	11,088	20,019
Share-based compensation	7,444	7,208	6,358
Deferred taxes, net	(35,878)	(72,192)	(11,967)
Provision for bad debt	169	11,458	(574)
Other, net	1,626	(685)	745
Changes in operating assets and liabilities:
Accounts receivable	(57,241)	(86,927)	(1,765)
Inventories	(109,498)	(219,867)	250,665
Vendor deposits	(29,468)	64,164	(18,253)
Prepaid expenses and other assets	(12,950)	(16,344)	(17,564)
Accounts payable	266,687	113,550	(103,086)
Income taxes payable	(30,675)	(10,812)	(17,115)
Deferred revenues	34,214	30,122	6,595
Accrued and other liabilities	(94,597)	66,762	32,617
Net cash provided by (used in) operating activities	928,682	640,027	541,516
Cash Flows from Investing Activities:
Purchase of property and equipment and other long-term assets	(19,738)	(12,586)	(11,975)
Purchase of investments	(89,387)	0	0
Proceeds from maturities of investments	53	0	0
Net cash used in investing activities	(109,072)	(12,586)	(11,975)
Cash Flows from Financing Activities:
Proceeds from borrowing	0	30,000	0
Debt issuance costs	(1,001)	0	0
Payment of common stock cash dividends	(193,634)	(145,153)	(145,091)
Tax withholdings related to net share settlements of restricted stock units	(2,123)	(778)	(434)
Net cash (used in) provided by financing activities	(446,758)	(604,056)	(518,025)
Net increase (decrease) in cash and cash equivalents	372,852	23,385	11,516
Cash and cash equivalents at beginning of period	149,727	126,342	114,826
Cash and cash equivalents at end of period	522,579	149,727	126,342
Supplemental Disclosure of Cash Flow Information:
Income taxes paid, net of refunds	289,971	177,237	108,572
Interest paid	5,078	31,048	75,094
Non-Cash Investing and Financing Activities:
Right-of-use asset recognized	46,450	10,565	4,393
Unpaid property and equipment and other long-term assets	2,190	1,448	1,300
Revolving Credit Facility
Cash Flows from Financing Activities:
Repayments against credit facility	0	(205,000)	(215,000)
Term Loan
Cash Flows from Financing Activities:
Repayments against credit facility	$ (250,000)	$ (283,125)	$ (157,500)

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025
Current assets:
Cash and cash equivalents	$ 522,579	$ 149,727
Investments — short-term	88,620	0
Accounts receivable, net of allowance for doubtful accounts of $12,125 and $11,956 at June 30, 2026 and 2025 respectively	301,688	244,616
Inventories	780,440	675,098
Vendor deposits	73,194	48,209
Prepaid expenses and other current assets	67,955	55,572
Total current assets	1,834,476	1,173,222
Property and equipment, net	75,908	73,495
Operating lease right-of-use assets, net	75,854	44,655
Deferred tax assets	143,862	107,968
Other long-term assets	68,090	67,111
Total assets	2,198,190	1,466,451
Current liabilities:
Accounts payable	432,221	164,793
Income taxes payable	10,761	40,733
Debt — short-term	0	249,557
Other current liabilities	183,645	255,772
Total current liabilities	626,627	710,855
Income taxes payable — long-term	24,826	25,529
Operating lease liabilities — long-term	65,268	35,458
Deferred tax liability	349	334
Other long-term liabilities	40,874	26,015
Total liabilities	757,944	798,191
Commitments and contingencies (Note 10)
Stockholders’ equity:
Preferred stock—$0.001 par value; 50,000,000 shares authorized; none issued	0	0
Common stock—$0.001 par value; 500,000,000 shares authorized: 60,522,091 and 60,492,105 issued and outstanding at June 30, 2026 and 2025, respectively	61	61
Additional paid–in capital	22,396	17,075
Accumulated other comprehensive (loss)	(4)	0
Retained earnings	1,417,793	651,124
Total stockholders’ equity	1,440,246	668,260
Total liabilities and stockholders’ equity	$ 2,198,190	$ 1,466,451