Ubiquiti inc. (UBNT)
Income statement / Quarterly
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'11Jun'11Mar'11Dec'10Sep'10
Revenues

337,417

308,284

323,277

286,641

284,911

307,276

282,905

269,778

250,404

250,811

245,868

228,616

218,359

213,536

204,757

185,676

167,433

161,871

151,415

145,267

147,456

153,137

150,087

156,007

148,331

138,439

129,687

101,232

83,155

74,901

61,535

94,868

91,665

87,817

79,167

67,554

51,151

45,087

34,082

Cost of revenues

177,782

163,198

171,886

153,704

152,081

167,045

151,299

149,238

135,928

153,911

134,212

125,437

119,273

118,397

106,453

95,919

84,940

82,830

77,911

79,129

81,479

84,116

89,036

87,146

82,719

77,468

71,664

56,868

47,690

44,416

36,515

53,827

52,006

50,527

46,154

39,517

30,047

27,045

20,453

Gross profit

159,635

145,086

151,391

132,937

132,830

140,231

131,606

120,540

114,476

96,900

111,656

103,179

99,086

95,139

98,304

89,757

82,493

79,041

73,504

66,138

65,977

69,021

61,051

68,861

65,612

60,971

58,023

44,364

35,465

30,485

25,020

41,041

39,659

37,290

33,013

28,037

21,104

18,042

13,629

Operating expenses:
Research and development

21,672

24,041

20,252

22,530

21,341

19,977

18,222

19,508

17,420

20,468

16,928

21,614

16,603

16,338

14,539

14,955

13,820

15,429

13,561

14,672

15,236

12,936

11,721

10,155

9,413

8,077

6,317

5,515

5,677

5,052

4,711

5,028

4,619

3,683

3,369

3,336

2,938

2,604

2,496

Sales, general and administrative

10,606

8,997

10,450

9,522

9,352

10,597

13,766

12,918

12,186

10,352

7,665

9,915

9,074

9,001

8,863

9,156

8,538

7,433

8,142

5,039

5,510

5,362

5,696

5,912

6,064

5,774

5,810

5,642

6,285

5,314

4,534

1,953

2,484

2,431

2,144

2,051

1,884

1,758

1,665

Litigation settlement

0

0

-

-

0

18,000

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Business e-mail compromise (BEC) fraud (recovery)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-3

-257

-8,034

39,137

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total operating expenses

32,278

33,038

30,702

32,052

30,693

48,574

31,988

32,426

29,606

30,820

24,593

31,529

25,677

25,339

23,402

24,111

22,355

22,605

13,669

58,848

20,746

18,298

17,417

16,067

15,477

13,851

12,127

11,157

11,962

10,366

9,245

6,981

7,103

6,114

5,513

5,387

4,822

4,362

4,161

Income from operations

127,357

112,048

120,689

100,885

102,137

91,657

99,618

88,114

84,870

66,080

87,063

71,650

73,409

69,800

74,902

65,646

60,138

56,436

59,835

7,290

45,231

50,723

43,634

52,794

50,135

47,120

45,896

33,207

23,503

20,119

15,775

34,060

32,556

31,176

27,500

22,650

16,282

13,680

9,468

Interest expense and other, net

-6,618

-12,085

-4,653

-3,622

-3,447

-3,212

-2,527

-3,451

-4,681

-2,492

-1,361

-1,430

-1,038

-1,170

-1,099

-838

-510

-651

-116

-326

-763

17

-58

-556

-283

-249

-246

-281

-287

-197

-86

-1,401

-190

-312

634

29

9

34

7

Income before income taxes

120,739

99,963

116,036

97,263

98,690

88,445

97,091

84,663

80,189

63,588

85,702

70,220

72,371

68,630

73,803

64,808

59,628

55,785

59,719

6,964

44,468

50,740

43,576

52,238

49,852

46,871

45,650

32,926

23,216

19,922

15,689

33,927

32,366

30,864

26,866

22,679

16,291

13,714

9,475

Provisions for income taxes

17,000

14,200

17,900

26,395

10,400

10,600

11,400

14,675

-22,600

115,000

10,777

9,542

7,939

8,022

2,015

7,102

6,929

6,333

5,960

2,446

3,331

4,475

5,833

2,820

4,653

5,079

5,122

4,085

2,549

2,119

2,510

5,442

4,446

6,173

5,373

4,544

3,258

2,736

1,894

Net income

103,722

85,811

98,146

70,895

88,300

77,796

85,703

70,085

102,739

-51,459

74,925

60,678

64,432

60,608

71,788

57,706

52,699

49,452

53,759

4,518

41,137

46,265

37,743

49,418

45,199

41,792

40,528

28,841

20,667

17,803

13,179

28,485

27,920

24,691

21,493

18,135

13,033

10,978

7,581

Preferred stock cumulative dividend and accretion of cost of preferred stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

9,704

102,727

-

-

-

-

Less allocation of net income to participating preferred stockholders

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

559

-

-10,675

8,154

4,617

688

Accretion of cost of preferred stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,091

Less allocation of net income to participating preferred stockholders

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,782

2,324

2,080

Net income (loss) attributable to common stockholders

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

27,920

14,428

-

-5,981

3,097

4,037

3,722

Undistributed earnings re-allocated to common stockholders

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

15

-

-124

71

85

71

Net income (loss) attributable to common stockholdersdiluted

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

14,443

-81,234

-6,105

3,168

4,122

3,793

Net income per share of common stock:
Basic (in usd per share)

1.60

1.32

1.44

1.02

1.25

1.09

1.16

0.93

1.34

-0.66

0.93

0.75

0.79

0.74

0.88

0.70

0.63

0.58

0.62

0.05

0.47

0.52

0.43

0.57

0.51

0.48

0.46

0.33

0.24

0.20

0.14

0.72

0.30

0.16

-1.30

-0.09

0.05

0.06

0.06

Diluted (in usd per share)

1.60

1.32

1.43

1.01

1.25

1.09

1.16

0.93

1.32

-0.66

0.92

0.74

0.77

0.72

0.86

0.69

0.62

0.57

0.61

0.05

0.46

0.52

0.42

0.55

0.50

0.47

0.45

0.32

0.23

0.20

0.14

0.72

0.30

0.16

-1.30

-0.10

0.05

0.06

0.06

Weighted average shares used in computing net income per share of common stock:
Basic (in shares)

64,630

64,973

68,390

70,201

70,540

71,225

73,774

74,145

76,782

77,654

80,135

80,279

81,652

82,169

81,812

82,473

83,349

84,724

87,062

87,692

87,904

88,196

88,240

88,115

87,901

87,661

87,411

87,188

87,004

88,094

90,970

91,775

91,861

87,487

62,717

62,662

62,610

62,610

64,486

Diluted (in shares)

64,699

65,071

68,484

70,347

70,692

71,406

73,963

75,969

77,953

77,654

81,748

81,949

83,317

83,888

83,854

83,895

84,685

86,091

88,465

89,226

89,400

89,737

89,913

89,959

89,775

89,653

89,473

89,102

88,953

90,056

92,925

86,890

94,177

90,056

62,717

66,805

66,416

66,349

68,058

Other comprehensive income:
Unrealized (losses) gains on available-for-sale securities

-90

-172

-200

177

325

-2

-100

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other comprehensive (loss) gains

-90

-172

-153

216

325

-2

-146

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Comprehensive income

103,632

85,639

97,993

71,111

88,625

77,794

85,557

70,085

102,739

-51,459

74,925

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash dividends declared per common share (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

0.00

-

-

0.00

0.18

-

-

0.00

0.00

-

-

-

-

-