10-Q Filing

UBIQUITI INC. CIK: 1511737 Q2 2018

Filing Information

Form Type	10-Q
Accession Number	`0001511737-18-000005`
Period End Date	20171231
Filing Date	20180208
Fiscal Year	2018
Fiscal Period	Q2
XBRL Instance	ubnt-20171231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 71 Income Statement 60 Cash Flow Statement 64

Balance Sheet 71 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`	$461.00K	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`	$604.20M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$823.78M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$551.03M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$612.73M	USD	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 $461 and $440 at December 31, 2017 and June 30, 2017, respectively	`AccountsReceivableNetCurrent`	$159.15M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $461 and $440 at December 31, 2017 and June 30, 2017, respectively	`AccountsReceivableNetCurrent`	$140.56M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventories	`InventoryNet`	$98.89M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventories	`InventoryNet`	$142.05M	USD	Point-in-time
Vendor deposits	`VendorDepositsCurrent`	$54.08M	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
Vendor deposits	`VendorDepositsCurrent`	$54.52M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	80.28M	shares	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$2.42M	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	-	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	77.65M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$11.29M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$9.03M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$952.33M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.15B	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$12.92M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$15.66M	USD	Point-in-time
Long-term deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$2.88M	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`	$2.15M	USD	Point-in-time
Total assets	`Assets`	$1.17B	USD	Point-in-time
Total assets	`Assets`	$972.71M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$11.95M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$49.01M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$12.59M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$1.71M	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`	$65.60M	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`	$104.88M	USD	Point-in-time
Long-term taxes payable	`UnrecognizedTaxBenefitsInLongTermIncomeTaxesPayable`	$28.02M	USD	Point-in-time
Long-term taxes payable	`UnrecognizedTaxBenefitsInLongTermIncomeTaxesPayable`	$130.31M	USD	Point-in-time
Debt - long-term	`LongTermDebtNoncurrent`	$452.95M	USD	Point-in-time
Debt - long-term	`LongTermDebtNoncurrent`	$241.82M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$2.62M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$4.16M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$2.62M	USD	Point-in-time
Total liabilities	`Liabilities`	$692.30M	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 December 31, 2017 and June 30, 2017, respectively	`CommonStockValue`	$80.00K	USD	Point-in-time
Common stock$0.001 par value; 500,000,000 shares authorized: 78,210,182 and 80,275,965 outstanding at December 31, 2017 and June 30, 2017, respectively	`CommonStockValue`	$78.00K	USD	Point-in-time
Additional paidin capital	`AdditionalPaidInCapital`	$771.00K	USD	Point-in-time
Additional paidin capital	`AdditionalPaidInCapital`	$525.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$475.18M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$601.16M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$601.76M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$476.03M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$1.17B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$972.71M	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Revenues	`SalesRevenueNet`	$418.29M	USD	2 Qtrs
Revenues	`SalesRevenueNet`	$250.81M	USD	1 Quarter
Revenues	`SalesRevenueNet`	$496.68M	USD	2 Qtrs
Revenues	`SalesRevenueNet`	$213.54M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$288.12M	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	$224.85M	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	$118.40M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$153.91M	USD	1 Quarter
Gross profit	`GrossProfit`	$193.44M	USD	2 Qtrs
Gross profit	`GrossProfit`	$208.56M	USD	2 Qtrs
Gross profit	`GrossProfit`	$95.14M	USD	1 Quarter
Gross profit	`GrossProfit`	$96.90M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$16.34M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$37.40M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$20.47M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$30.88M	USD	2 Qtrs
Sales, general and administrative	`SellingGeneralAndAdministrativeExpense`	$18.02M	USD	2 Qtrs
Sales, general and administrative	`SellingGeneralAndAdministrativeExpense`	$9.00M	USD	1 Quarter
Sales, general and administrative	`SellingGeneralAndAdministrativeExpense`	$17.86M	USD	2 Qtrs
Sales, general and administrative	`SellingGeneralAndAdministrativeExpense`	$10.35M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$25.34M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$30.82M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$55.41M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$48.74M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$153.14M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$66.08M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$144.70M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$69.80M	USD	1 Quarter
Interest expense and other, net	`OtherNonoperatingIncomeExpense`	$-3.85M	USD	2 Qtrs
Interest expense and other, net	`OtherNonoperatingIncomeExpense`	$-1.17M	USD	1 Quarter
Interest expense and other, net	`OtherNonoperatingIncomeExpense`	$-2.49M	USD	1 Quarter
Interest expense and other, net	`OtherNonoperatingIncomeExpense`	$-2.27M	USD	2 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$63.59M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$142.43M	USD	2 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$149.29M	USD	2 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$68.63M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$10.04M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$125.82M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$8.02M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$115.05M	USD	1 Quarter
Net (loss) income and comprehensive (loss) income	`NetIncomeLoss`	$23.47M	USD	2 Qtrs
Net (loss) income and comprehensive (loss) income	`NetIncomeLoss`	$-51.46M	USD	1 Quarter
Net (loss) income and comprehensive (loss) income	`NetIncomeLoss`	$60.61M	USD	1 Quarter
Net (loss) income and comprehensive (loss) income	`NetIncomeLoss`	$132.40M	USD	2 Qtrs
Net income per share of common stock, Basic (in usd per share)	`EarningsPerShareBasic`	$1.61	USD	2 Qtrs
Net income per share of common stock, Basic (in usd per share)	`EarningsPerShareBasic`	$0.74	USD	1 Quarter
Net income per share of common stock, Basic (in usd per share)	`EarningsPerShareBasic`	$0.30	USD	2 Qtrs
Net income per share of common stock, Basic (in usd per share)	`EarningsPerShareBasic`	$-0.66	USD	1 Quarter
Net income per share of common stock, Diluted (in usd per share)	`EarningsPerShareDiluted`	$0.72	USD	1 Quarter
Net income per share of common stock, Diluted (in usd per share)	`EarningsPerShareDiluted`	$1.58	USD	2 Qtrs
Net income per share of common stock, Diluted (in usd per share)	`EarningsPerShareDiluted`	$-0.66	USD	1 Quarter
Net income per share of common stock, Diluted (in usd per share)	`EarningsPerShareDiluted`	$0.29	USD	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	81.99M	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	82.17M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	77.65M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	78.89M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	80.49M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	77.65M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	83.89M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	83.88M	shares	2 Qtrs

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$23.47M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$-51.46M	USD	1 Quarter
Net income	`NetIncomeLoss`	$60.61M	USD	1 Quarter
Net income	`NetIncomeLoss`	$132.40M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.36M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.42M	USD	2 Qtrs
Provision for inventory obsolescence	`InventoryWriteDown`	$1.48M	USD	2 Qtrs
Provision for inventory obsolescence	`InventoryWriteDown`	$3.15M	USD	2 Qtrs
Provision/(Recovery) for loss on vendor deposits & purchase commitments	`ProvisionforGainLossonVendorDeposit`	$-1.05M	USD	2 Qtrs
Provision/(Recovery) for loss on vendor deposits & purchase commitments	`ProvisionforGainLossonVendorDeposit`	$16.19M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.69M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.49M	USD	2 Qtrs
Deferred Taxes	`DeferredIncomeTaxesAndTaxCredits`	$2.25M	USD	2 Qtrs
Deferred Taxes	`DeferredIncomeTaxesAndTaxCredits`	-	USD	2 Qtrs
Other, net	`OtherNoncashIncomeExpense`	$-411.00K	USD	2 Qtrs
Other, net	`OtherNoncashIncomeExpense`	$-1.03M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$33.33M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$18.61M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$48.19M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-39.53M	USD	2 Qtrs
Vendor deposits	`IncreaseDecreaseinVendorDeposits`	$5.76M	USD	2 Qtrs
Vendor deposits	`IncreaseDecreaseinVendorDeposits`	$11.15M	USD	2 Qtrs
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$-2.42M	USD	2 Qtrs
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$5.08M	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$4.82M	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.15M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$25.99M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-36.89M	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$2.17M	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$113.17M	USD	2 Qtrs
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$1.79M	USD	2 Qtrs
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$1.21M	USD	2 Qtrs
Accrued liabilities and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$27.57M	USD	2 Qtrs
Accrued liabilities and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$4.18M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$165.67M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$75.67M	USD	2 Qtrs
Purchase of property and equipment and other long-term assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.20M	USD	2 Qtrs
Purchase of property and equipment and other long-term assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.84M	USD	2 Qtrs
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.84M	USD	2 Qtrs
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.20M	USD	2 Qtrs
Proceeds from revolver loan	`ProceedsFromLongTermLinesOfCredit`	-	USD	2 Qtrs
Proceeds from revolver loan	`ProceedsFromLongTermLinesOfCredit`	$218.50M	USD	2 Qtrs
Repayments of term loan	`RepaymentsOfLongTermDebt`	$5.00M	USD	2 Qtrs
Repayments of term loan	`RepaymentsOfLongTermDebt`	$7.50M	USD	2 Qtrs
Repurchases of common stock	`RepurchaseOfCommonStock`	$151.25M	USD	2 Qtrs
Repurchases of common stock	`RepurchaseOfCommonStock`	$6.48M	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$1.29M	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$849.00K	USD	2 Qtrs
Tax withholdings related to net share settlements of restricted stock units	`RestrictedStockValueSharesIssuedNetOfTaxWithholdings`	$487.00K	USD	2 Qtrs
Tax withholdings related to net share settlements of restricted stock units	`RestrictedStockValueSharesIssuedNetOfTaxWithholdings`	$945.00K	USD	2 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$60.11M	USD	2 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-11.14M	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$219.58M	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$61.69M	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$604.20M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$823.78M	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`	$612.73M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$604.20M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$823.78M	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`	$612.73M	USD	Point-in-time
Unpaid property and equipment and other long-term assets	`CapitalExpendituresIncurredButNotYetPaid`	$288.00K	USD	2 Qtrs
Unpaid property and equipment and other long-term assets	`CapitalExpendituresIncurredButNotYetPaid`	$379.00K	USD	2 Qtrs

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