10-Q Filing

UBIQUITI INC. CIK: 1511737 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001511737-16-000045`
Period End Date	20160930
Filing Date	20161107
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	ubnt-20160930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 32 Cash Flow Statement 64

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$35.00K	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$48.00K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$446.40M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$551.03M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$573.64M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$436.08M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $35 and $48 at September 30, 2016 and June 30, 2016, respectively	`AccountsReceivableNetCurrent`	$82.79M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	82.12M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	81.67M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $35 and $48 at September 30, 2016 and June 30, 2016, respectively	`AccountsReceivableNetCurrent`	$95.73M	USD	Point-in-time
Inventories	`InventoryNet`	$57.11M	USD	Point-in-time
Inventories	`InventoryNet`	$79.84M	USD	Point-in-time
Vendor deposits	`VendorDepositsCurrent`	$30.09M	USD	Point-in-time
Vendor deposits	`VendorDepositsCurrent`	$30.25M	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$299.00K	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$314.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$6.90M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.99M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$728.38M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$785.60M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$12.52M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$12.95M	USD	Point-in-time
Long-term deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$4.20M	USD	Point-in-time
Long-term deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$4.20M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$1.66M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$1.58M	USD	Point-in-time
Total assets	`Assets`	$747.11M	USD	Point-in-time
Total assets	`Assets`	$803.97M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$42.54M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$51.51M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$1.49M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$2.04M	USD	Point-in-time
Debt - short-term	`ShortTermBorrowings`	$10.99M	USD	Point-in-time
Debt - short-term	`ShortTermBorrowings`	$12.24M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$26.67M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$20.30M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$77.12M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$90.66M	USD	Point-in-time
Long-term taxes payable	`UnrecognizedTaxBenefitsInLongTermIncomeTaxesPayable`	$23.20M	USD	Point-in-time
Long-term taxes payable	`UnrecognizedTaxBenefitsInLongTermIncomeTaxesPayable`	$24.49M	USD	Point-in-time
Debt - long-term	`LongTermDebtNoncurrent`	$187.88M	USD	Point-in-time
Debt - long-term	`LongTermDebtNoncurrent`	$191.56M	USD	Point-in-time
Deferred revenues - long-term	`DeferredRevenueNoncurrent`	$1.30M	USD	Point-in-time
Deferred revenues - long-term	`DeferredRevenueNoncurrent`	$1.50M	USD	Point-in-time
Total liabilities	`Liabilities`	$306.73M	USD	Point-in-time
Total liabilities	`Liabilities`	$290.99M	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock$0.001 par value; 500,000,000 shares authorized: 82,123,043 and 81,667,129 outstanding at September 30, 2016 and June 30, 2016, respectively	`CommonStockValue`	$82.00K	USD	Point-in-time
Common stock$0.001 par value; 500,000,000 shares authorized: 82,123,043 and 81,667,129 outstanding at September 30, 2016 and June 30, 2016, respectively	`CommonStockValue`	$82.00K	USD	Point-in-time
Additional paidin capital	`AdditionalPaidInCapital`	$817.00K	USD	Point-in-time
Additional paidin capital	`AdditionalPaidInCapital`	-	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$512.08M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$440.29M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$512.98M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$440.38M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$747.11M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$803.97M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Revenues	`SalesRevenueNet`	$204.76M	USD	1 Quarter
Revenues	`SalesRevenueNet`	$151.41M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$106.45M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$77.91M	USD	1 Quarter
Gross profit	`GrossProfit`	$73.50M	USD	1 Quarter
Gross profit	`GrossProfit`	$98.30M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$14.54M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$13.56M	USD	1 Quarter
Sales, general and administrative	`SellingGeneralAndAdministrativeExpense`	$8.14M	USD	1 Quarter
Sales, general and administrative	`SellingGeneralAndAdministrativeExpense`	$8.86M	USD	1 Quarter
Business e-mail compromise (BEC) fraud loss/(recovery)	`UnusualOrInfrequentItemNetGainLoss`	-	USD	1 Quarter
Business e-mail compromise (BEC) fraud loss/(recovery)	`UnusualOrInfrequentItemNetGainLoss`	$-8.03M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$23.40M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$13.67M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$74.90M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$59.84M	USD	1 Quarter
Interest expense and other, net	`OtherNonoperatingIncomeExpense`	$-116.00K	USD	1 Quarter
Interest expense and other, net	`OtherNonoperatingIncomeExpense`	$-1.10M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$73.80M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$59.72M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$5.96M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.02M	USD	1 Quarter
Net income and comprehensive income	`NetIncomeLoss`	$53.76M	USD	1 Quarter
Net income and comprehensive income	`NetIncomeLoss`	$71.79M	USD	1 Quarter
Basic (in usd per share)	`EarningsPerShareBasic`	$0.88	USD	1 Quarter
Basic (in usd per share)	`EarningsPerShareBasic`	$0.62	USD	1 Quarter
Diluted (in usd per share)	`EarningsPerShareDiluted`	$0.86	USD	1 Quarter
Diluted (in usd per share)	`EarningsPerShareDiluted`	$0.61	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	87.06M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	81.81M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	83.85M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	88.47M	shares	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$53.76M	USD	1 Quarter
Net income	`NetIncomeLoss`	$71.79M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.62M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.54M	USD	1 Quarter
Provision for inventory obsolescence	`InventoryWriteDown`	$1.09M	USD	1 Quarter
Provision for inventory obsolescence	`InventoryWriteDown`	$80.00K	USD	1 Quarter
(Recovery)/Provision for loss on vendor deposits	`ProvisionforGainLossonVendorDeposit`	$-676.00K	USD	1 Quarter
(Recovery)/Provision for loss on vendor deposits	`ProvisionforGainLossonVendorDeposit`	$5.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$927.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.03M	USD	1 Quarter
Excess tax benefit from employee stock-based awards	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$333.00K	USD	1 Quarter
Excess tax benefit from employee stock-based awards	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	-	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$-135.00K	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$-122.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.52M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$12.93M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-5.23M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$22.44M	USD	1 Quarter
Vendor deposits	`IncreaseDecreaseinVendorDeposits`	$-843.00K	USD	1 Quarter
Vendor deposits	`IncreaseDecreaseinVendorDeposits`	-	USD	1 Quarter
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$15.00K	USD	1 Quarter
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$-2.57M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$5.02M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-807.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-20.55M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-9.03M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$2.35M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$1.84M	USD	1 Quarter
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$466.00K	USD	1 Quarter
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$109.00K	USD	1 Quarter
Accrued liabilities and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$3.23M	USD	1 Quarter
Accrued liabilities and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-576.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$32.77M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$47.73M	USD	1 Quarter
Purchase of property and equipment and other long-term assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.06M	USD	1 Quarter
Purchase of property and equipment and other long-term assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.83M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.06M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.83M	USD	1 Quarter
Repayments of term loan	`RepaymentsOfLongTermDebt`	$2.50M	USD	1 Quarter
Repayments of term loan	`RepaymentsOfLongTermDebt`	$2.50M	USD	1 Quarter
Repurchases of common stock	`RepurchaseOfCommonStock`	$6.48M	USD	1 Quarter
Repurchases of common stock	`RepurchaseOfCommonStock`	$53.82M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$301.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$682.00K	USD	1 Quarter
Excess tax benefit from employee stock-based awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	-	USD	1 Quarter
Excess tax benefit from employee stock-based awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$333.00K	USD	1 Quarter
Tax withholdings related to net share settlements of restricted stock units	`RestrictedStockValueSharesIssuedNetOfTaxWithholdings`	$534.00K	USD	1 Quarter
Tax withholdings related to net share settlements of restricted stock units	`RestrictedStockValueSharesIssuedNetOfTaxWithholdings`	$791.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-9.09M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-56.22M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-10.32M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$22.61M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$446.40M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$551.03M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$573.64M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$436.08M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$446.40M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$551.03M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$573.64M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$436.08M	USD	Point-in-time
Unpaid property and equipment and other long-term assets	`DividendsCash`	-	USD	1 Quarter
Unpaid property and equipment and other long-term assets	`DividendsCash`	$413.00K	USD	1 Quarter
Unpaid stock repurchases	`UnpaidStockRepurchases`	$9.49M	USD	1 Quarter
Unpaid stock repurchases	`UnpaidStockRepurchases`	-	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.