Ubiquiti Q1 2022 Earnings Report
Key Takeaways
Ubiquiti Inc. reported a decrease in revenues and earnings per share for the first quarter fiscal 2022, primarily driven by the Service Provider segment and impacted by global component supply shortages and increased logistics costs. The company repurchased shares and declared a cash dividend. GAAP net income and non-GAAP net income decreased by 15% from the comparable prior year period.
Revenues decreased to $458.9 million, a 3.1% decrease year-over-year.
GAAP diluted EPS was $2.11, a decrease of 13.4% year-over-year.
Gross profit decreased to $209.5 million with a gross margin of 45.6%.
The company repurchased 130,994 shares of common stock at an average price of $299.64 per share.
Ubiquiti
Ubiquiti
Ubiquiti Revenue by Segment
Ubiquiti Revenue by Geographic Location
Forward Guidance
The Company expects its results to be negatively impacted until the ongoing supply chain and logistics issues caused by the global component supply shortage and the COVID-19 pandemic are resolved.
Challenges Ahead
- The company's future results are dependent on its ability to procure components and services.
- Global component supply shortage.
- COVID-19 pandemic.
- Increased logistics costs.
- Inability to fulfill customer orders
Revenue & Expenses
Visualization of income flow from segment revenue to net income