10-Q Filing

UBIQUITI INC. CIK: 1511737 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001511737-17-000011`
Period End Date	20170930
Filing Date	20171109
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	ubnt-20170930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 30 Cash Flow Statement 62

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$440.00K	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$395.00K	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$631.81M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$573.64M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$551.03M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$604.20M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $395 and $440 at September 30, 2017 and June 30, 2017, respectively	`AccountsReceivableNetCurrent`	$128.59M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $395 and $440 at September 30, 2017 and June 30, 2017, respectively	`AccountsReceivableNetCurrent`	$140.56M	USD	Point-in-time
Inventories	`InventoryNet`	$142.05M	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
Inventories	`InventoryNet`	$122.26M	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
Vendor deposits	`VendorDepositsCurrent`	$69.54M	USD	Point-in-time
Vendor deposits	`VendorDepositsCurrent`	$54.08M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	78.21M	shares	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$2.42M	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$2.42M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	80.28M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$9.03M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$8.04M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$952.33M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$962.66M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$13.95M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$12.92M	USD	Point-in-time
Long-term deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$5.13M	USD	Point-in-time
Long-term deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$5.13M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$2.33M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$2.01M	USD	Point-in-time
Total assets	`Assets`	$983.74M	USD	Point-in-time
Total assets	`Assets`	$972.71M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$49.01M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$26.32M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$1.71M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$7.01M	USD	Point-in-time
Debt - short-term	`ShortTermBorrowings`	$14.74M	USD	Point-in-time
Debt - short-term	`ShortTermBorrowings`	$14.74M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$58.86M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$33.03M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$98.49M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$106.93M	USD	Point-in-time
Long-term taxes payable	`UnrecognizedTaxBenefitsInLongTermIncomeTaxesPayable`	$29.78M	USD	Point-in-time
Long-term taxes payable	`UnrecognizedTaxBenefitsInLongTermIncomeTaxesPayable`	$28.02M	USD	Point-in-time
Debt - long-term	`LongTermDebtNoncurrent`	$241.82M	USD	Point-in-time
Debt - long-term	`LongTermDebtNoncurrent`	$283.13M	USD	Point-in-time
Deferred revenues - long-term	`DeferredRevenueNoncurrent`	$2.62M	USD	Point-in-time
Deferred revenues - long-term	`DeferredRevenueNoncurrent`	$2.69M	USD	Point-in-time
Total liabilities	`Liabilities`	$422.53M	USD	Point-in-time
Total liabilities	`Liabilities`	$370.95M	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock$0.001 par value; 50,000,000 shares authorized; none issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock$0.001 par value; 50,000,000 shares authorized; none issued	`PreferredStockValue`	-	USD	Point-in-time
Common stock$0.001 par value; 500,000,000 shares authorized: 78,210,182 and 80,275,965 outstanding at September 30, 2017 and June 30, 2017, respectively	`CommonStockValue`	$78.00K	USD	Point-in-time
Common stock$0.001 par value; 500,000,000 shares authorized: 78,210,182 and 80,275,965 outstanding at September 30, 2017 and June 30, 2017, respectively	`CommonStockValue`	$80.00K	USD	Point-in-time
Additional paidin capital	`AdditionalPaidInCapital`	-	USD	Point-in-time
Additional paidin capital	`AdditionalPaidInCapital`	$525.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$601.16M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$561.13M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$601.76M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$561.21M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$972.71M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$983.74M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Revenues	`SalesRevenueNet`	$245.87M	USD	1 Quarter
Revenues	`SalesRevenueNet`	$204.76M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$106.45M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$134.21M	USD	1 Quarter
Gross profit	`GrossProfit`	$98.30M	USD	1 Quarter
Gross profit	`GrossProfit`	$111.66M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$14.54M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$16.93M	USD	1 Quarter
Sales, general and administrative	`SellingGeneralAndAdministrativeExpense`	$8.86M	USD	1 Quarter
Sales, general and administrative	`SellingGeneralAndAdministrativeExpense`	$7.67M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$23.40M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$24.59M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$87.06M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$74.90M	USD	1 Quarter
Interest expense and other, net	`OtherNonoperatingIncomeExpense`	$-1.36M	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`	$85.70M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$10.78M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.02M	USD	1 Quarter
Net income and comprehensive income	`NetIncomeLoss`	$74.92M	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`	$0.93	USD	1 Quarter
Diluted (in usd per share)	`EarningsPerShareDiluted`	$0.86	USD	1 Quarter
Diluted (in usd per share)	`EarningsPerShareDiluted`	$0.92	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	81.81M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	80.14M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	81.75M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	83.85M	shares	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$74.92M	USD	1 Quarter
Net income	`NetIncomeLoss`	$71.79M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.66M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.54M	USD	1 Quarter
Provision for inventory obsolescence	`InventoryWriteDown`	$324.00K	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`	$376.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$927.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$912.00K	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$-135.00K	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$-103.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$12.93M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-12.02M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-19.42M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$22.44M	USD	1 Quarter
Vendor deposits	`IncreaseDecreaseinVendorDeposits`	$15.84M	USD	1 Quarter
Vendor deposits	`IncreaseDecreaseinVendorDeposits`	$-843.00K	USD	1 Quarter
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$-4.00K	USD	1 Quarter
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$15.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-807.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.29M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-22.41M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-9.03M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$1.84M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$7.06M	USD	1 Quarter
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$1.38M	USD	1 Quarter
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$466.00K	USD	1 Quarter
Accrued liabilities and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-576.00K	USD	1 Quarter
Accrued liabilities and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$15.70M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$32.77M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$96.92M	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`	$2.93M	USD	1 Quarter
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.06M	USD	1 Quarter
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.93M	USD	1 Quarter
Proceeds from revolver loan	`ProceedsFromLongTermLinesOfCredit`	$45.00M	USD	1 Quarter
Proceeds from revolver loan	`ProceedsFromLongTermLinesOfCredit`	-	USD	1 Quarter
Repayments of term loan	`RepaymentsOfLongTermDebt`	$2.50M	USD	1 Quarter
Repayments of term loan	`RepaymentsOfLongTermDebt`	$3.75M	USD	1 Quarter
Repurchases of common stock	`RepurchaseOfCommonStock`	$108.00M	USD	1 Quarter
Repurchases of common stock	`RepurchaseOfCommonStock`	$6.48M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$682.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$722.00K	USD	1 Quarter
Tax withholdings related to net share settlements of restricted stock units	`RestrictedStockValueSharesIssuedNetOfTaxWithholdings`	$351.00K	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`	$-66.38M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$22.61M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$27.61M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$631.81M	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`	$551.03M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$604.20M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$631.81M	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`	$551.03M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$604.20M	USD	Point-in-time
Unpaid stock repurchases	`DividendsCash`	$8.77M	USD	1 Quarter
Unpaid stock repurchases	`DividendsCash`	-	USD	1 Quarter
Unpaid property and equipment and other long-term assets	`CapitalExpendituresIncurredButNotYetPaid`	$413.00K	USD	1 Quarter
Unpaid property and equipment and other long-term assets	`CapitalExpendituresIncurredButNotYetPaid`	$178.00K	USD	1 Quarter

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