Ubiquiti inc. (UBNT)
CashFlow / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Sep'10
Cash Flows from Operating Activities:
Net income

358,574

343,152

335,137

322,694

321,885

336,323

207,068

196,290

186,882

148,576

260,643

257,506

254,534

242,801

231,645

213,616

160,428

148,866

145,679

129,663

174,563

178,625

174,152

176,937

156,360

131,828

107,839

80,490

80,134

87,387

94,275

102,589

0

0

0

0

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization

7,180

7,675

7,611

7,556

7,715

7,574

7,513

7,310

7,034

7,026

7,153

7,103

6,490

6,274

5,961

6,037

6,478

6,185

5,708

4,971

3,959

3,401

2,994

2,819

2,739

2,540

2,319

1,963

1,470

1,128

830

602

0

0

0

0

Amortization of debt issuance costs

1,586

1,361

1,137

1,114

1,114

1,184

968

751

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash lease expense

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Premium amortization and (discount accretion), net

-197

-412

-634

-696

-555

-356

-127

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Write off unamortized debt issuance costs

105

105

105

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Provision for inventory obsolescence

4,465

5,191

2,082

1,637

2,884

121

2,264

2,336

3,210

4,146

2,723

2,479

1,883

1,512

-264

747

1,288

2,312

2,684

2,288

2,830

3,065

3,440

3,295

1,820

900

1,375

850

0

0

0

-

-

-

-

-

Provision for loss on vendor deposits and purchase commitments

2,165

5,555

4,878

2,911

2,174

-1,727

13,660

14,891

15,099

16,144

-44

-1,096

-2,022

-2,010

-1,654

-973

5,731

5,811

332

5,827

0

0

0

-

-

-

0

-

-

-

-

-

-

-

-

-

Write-off of intangible assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

0

0

0

-

-

-

-

-

Provisions for doubtful accounts

-

0

0

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

1,741

1,451

1,240

815

0

0

0

0

Stock-based compensation

2,728

2,755

2,804

2,890

3,091

3,070

3,071

3,208

3,115

2,985

2,770

2,785

2,946

3,227

3,619

3,719

3,679

4,173

4,647

4,992

5,455

5,120

5,111

4,906

4,757

4,416

3,887

3,376

2,710

2,340

1,798

1,493

0

0

0

0

Deferred taxes

322

113

120

196

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefit from employee stock-based awards

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,004

1,171

1,724

1,630

2,079

2,208

4,104

5,178

5,908

7,188

4,853

3,835

2,323

0

0

0

-

-

-

-

-

Other, net

224

542

655

725

1,396

1,337

913

849

-374

-457

-1,049

-1,081

-1,049

-1,638

-836

-823

551

-1,745

-1,754

-1,526

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities:
Accounts receivable

13,999

-27,204

9,235

-18,728

1,183

15,102

36,703

33,973

32,985

43,444

33,222

58,164

50,564

51,344

32,129

16,685

5,398

-7,791

-2,290

11,339

20,484

35,511

29,525

18,329

9,955

-19,500

-24,483

-38,664

-28,370

-4,064

14,036

36,648

0

0

0

0

Inventories

-70,383

-2,118

106,095

163,659

191,237

158,029

21,395

-35,974

-36,256

-734

45,125

86,988

90,921

71,558

47,683

20,012

2,301

-2,242

-5,352

-7,030

-21,863

8,251

25,812

33,764

48,443

18,600

10,118

8,996

11,035

6,208

-522

2,266

0

0

0

0

Vendor deposits

-13,977

-16,711

-24,670

-27,705

-25,044

-31,307

-27,472

-4,798

8,427

28,124

39,409

22,730

34,299

19,437

8,442

9,285

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred cost of revenues

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,279

-1,267

-1,128

603

94

0

0

0

-

-

-

-

-881

0

0

0

0

Prepaid income taxes

-3,514

2

37

23

-9,218

0

-2,415

-2,419

1,849

-5,378

2,101

2,120

10,902

5,378

314

-2,267

-7,394

-4,512

0

-690

2,342

1,713

0

3,256

0

0

0

-

-

-

-

-

-

-

-

-

Prepaid expenses and other assets

7,837

16,987

26,240

15,812

7,130

2,896

8,299

9,404

6,082

388

2,580

3,061

5,251

3,855

-6,017

-190

-381

20,231

13,579

21,969

22,047

10,839

23,951

9,644

8,732

1,555

-299

1,858

0

0

0

-

-

-

-

0

Accounts payable

-30,318

-65,898

21,198

24,329

19,754

124,757

16,898

-34,596

18,483

-65,431

-15,936

-2,554

23,649

35,093

19,240

7,720

-19,032

-12,717

-15,829

9,735

2,351

5,408

-5,421

-2,326

14,831

21,230

18,174

9,725

6,947

12,824

7,411

11,692

0

0

0

0

Income taxes payable

-13,381

-3,458

-519

16,318

5,762

-14,028

106,313

103,769

103,910

116,032

10,260

5,041

4,270

3,569

4,272

4,777

6,030

7,154

4,925

5,152

6,181

7,197

7,678

7,150

7,012

3,572

6,353

6,645

777

4,887

8,970

9,539

0

0

0

0

Deferred revenues

1,485

3,772

6,698

9,079

12,097

9,999

6,871

4,941

2,130

3,069

4,559

3,649

3,385

2,284

1,066

709

415

-232

-2,880

-1,678

-325

41

3,194

1,989

1,955

3,100

2,509

2,396

-634

-1,567

-1,450

-929

0

0

0

0

Accrued and other liabilities

29,721

23,356

20,687

5,016

-3,772

-10,095

-464

31,666

1,868

33,171

26,065

9,787

8,046

6,726

-566

3,245

-1,172

279

-4,786

-630

-2,430

-5,423

2,617

-4,609

881

1,305

6,779

521

10,236

6,841

1,368

4,856

0

0

0

0

Net cash provided by operating activities

436,334

358,013

284,967

259,258

205,192

310,964

329,068

332,047

331,250

202,031

176,187

112,036

111,459

148,105

182,550

197,508

170,147

180,003

135,332

134,547

172,137

121,441

116,389

121,327

111,741

160,870

160,076

131,891

115,769

112,343

89,764

81,788

0

0

0

0

Cash Flows from Investing Activities:
Purchase of property and equipment and other long-term assets

30,769

9,259

8,982

9,684

9,498

8,530

10,218

9,115

8,846

10,591

9,100

7,232

7,132

6,062

5,482

6,248

6,727

7,355

11,093

12,724

11,618

10,474

7,046

4,045

4,199

3,858

3,474

5,363

6,101

5,667

5,454

3,310

0

0

0

0

Deposits on aircraft

-

0

0

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of investments

47,242

77,288

90,503

220,076

200,791

167,822

147,934

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of investments

115,067

163,571

136,754

80,889

69,670

7,598

3,850

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from maturities of investments

-

-

46,881

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) investing activities

16,801

53,859

22,150

-157,567

-115,788

-159,033

-154,302

-9,115

-8,846

-10,591

-9,100

-7,232

-7,132

-6,062

-5,482

-6,248

-6,727

-7,355

-11,093

-12,724

-11,618

-10,474

-7,046

-4,045

-4,199

-3,858

-3,474

-5,363

-6,101

-5,667

-5,454

-3,310

0

0

0

0

Cash Flows from Financing Activities:
Proceeds from borrowing

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Debt Issuance Costs

3,138

3,138

3,138

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repurchases of common stock

821,352

693,160

758,060

468,225

391,209

606,838

443,781

445,014

387,324

250,001

206,743

105,229

143,302

100,000

146,182

193,517

169,715

119,712

88,530

34,712

0

0

0

-

-

-

-

54,354

0

0

0

-

-

-

-

0

Repayments of term loan

-

-

-

-

-

-

-

-

-

-

-

-

-

0

10,000

-

10,000

79,754

77,254

74,754

144,754

73,750

75,000

76,250

5,000

5,000

5,000

4,333

0

0

0

-

-

-

-

-

Proceeds from term loan

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

Payment of common stock cash dividends

77,164

75,348

73,521

71,358

53,770

36,139

18,506

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repurchase of Series A convertible preferred stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

108,000

0

0

0

-

Payment of convertible subordinated promissory notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

68,000

0

0

0

-

Proceeds from exercise of stock options

142

547

609

800

1,192

1,031

972

1,500

1,122

962

1,440

1,400

1,724

1,909

1,487

1,106

1,614

1,673

1,531

1,686

1,157

1,585

1,915

2,090

2,112

1,476

1,164

635

550

461

770

811

0

0

0

-

Tax withholdings related to net share settlements of restricted stock units

1,637

1,634

1,609

1,473

1,197

1,407

2,131

1,415

0

0

0

-

-

-

-

1,004

1,171

1,724

1,630

2,079

2,208

4,104

5,178

5,908

7,188

4,853

3,835

2,323

0

0

0

-

-

-

-

-

Tax withholdings related to net share settlements of restricted stock units

-

-

-

-

-

-

-

-

-

-

-

-

1,687

1,471

1,480

1,223

1,100

1,510

1,532

1,798

1,875

2,090

2,403

2,013

1,861

1,089

610

214

0

0

0

-

-

-

-

-

Payment of deferred offering costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Net cash (used in) financing activities

-685,618

-605,202

-668,188

-530,225

-469,946

-682,373

-325,764

-260,449

-165,542

19,611

-108,921

-51,637

-72,932

-25,990

-39,504

-86,630

-112,030

-64,579

-79,175

-22,519

-1,030

-27,917

1,944

1,989

2,439

240

-9,359

-20,762

-22,179

-23,219

-4,400

-32,779

0

0

0

0

Net (decrease) in cash and cash equivalents

-232,483

-193,330

-361,071

-428,534

-380,542

-530,442

-150,998

62,483

156,862

211,051

58,166

53,167

31,395

116,053

137,564

104,630

51,390

108,069

45,064

99,304

159,489

83,050

111,287

119,271

109,981

157,252

147,243

105,766

87,489

83,457

79,910

45,699

0

0

0

0

Supplemental Disclosure of Cash Flow Information:
Income taxes paid, net of refunds

84,906

71,903

65,040

41,725

21,945

28,192

8,010

9,605

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unpaid cash dividend

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

Interest paid

22,633

21,588

19,912

23,348

19,650

19,821

17,789

11,377

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-Cash Investing and Financing Activities:
Right-of-use asset recognized

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unpaid stock repurchases

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

Unpaid stock repurchases

-

-

-

-

-

-

-

0

0

0

0

-

-

-

6,483

6,483

0

0

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

Unpaid property and equipment and other long-term assets

339

870

410

440

84

-108

-4

144

553

367

223

458

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net unsettled investment purchases (sales and maturities)

0

0

397

-

-

74

646

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Term loan facility
Proceeds from borrowing

37,500

37,500

37,500

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of debt

25,000

25,000

25,000

25,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Revolving credit facility
Proceeds from borrowing

375,000

275,000

155,000

35,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-