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Mar 31, 2022
Ubiquiti Q3 2022 Earnings Report
Ubiquiti reported a decrease in revenue and earnings per share due to supply chain disruptions and increased costs.
Key Takeaways
Ubiquiti Inc. announced its financial results for the third quarter fiscal 2022, with revenues of $358.1 million and GAAP diluted EPS of $0.82. The company experienced a decrease in revenue compared to the prior year and prior quarter, primarily driven by declines in both the Enterprise Technology and Service Provider Technology platforms. The decline in gross profit margin was primarily driven by a change in mix of products sold and higher component costs, shipping costs and overhead expenses. The company repurchased shares of common stock and declared a cash dividend.
Revenues for the third quarter fiscal 2022 were $358.1 million, a decrease of 23.4% year-over-year.
GAAP diluted EPS for the third quarter fiscal 2022 was $0.82, a decrease of 64.7% year-over-year.
Gross profit margin decreased to 32.4% due to product mix and increased costs.
The company repurchased 1,264,974 shares of common stock at an average price of $272.50 per share.
Ubiquiti
Ubiquiti
Ubiquiti Revenue by Segment
Ubiquiti Revenue by Geographic Location
Revenue by Segment
Enterprise Technology Revenue
CapyFin.comService Provider Tech Revenue
CapyFin.comRevenue by Geographic Location
North America Revenue
CapyFin.comEMEA Revenue
CapyFin.comAsia Pacific Revenue
CapyFin.comSouth America Revenue
CapyFin.com Forward Guidance
The company expects 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
- Inability to fulfill customer orders due to supply chain disruptions.
- Increased cost base due to expedited deliveries of components and services.
- Future results are dependent on the ability to procure components and services.
- Negative impact on the company's results until supply chain and logistics issues are resolved.
- Continued outbreaks of COVID around the world.
Revenue & Expenses
Visualization of income flow from segment revenue to net income