10-Q Filing

UBIQUITI INC. CIK: 1511737 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001511737-18-000026`
Period End Date	20180930
Filing Date	20181109
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	ubnt-20180930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 36 Cash Flow Statement 74

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$453.00K	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$394.00K	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
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$604.20M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$480.81M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$631.81M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$666.68M	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
Investments short-term	`ShortTermInvestments`	$96.27M	USD	Point-in-time
Investments short-term	`ShortTermInvestments`	-	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $394 and $453 at September 30, 2018 and June 30, 2018, respectively	`AccountsReceivableNetCurrent`	$165.29M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $394 and $453 at September 30, 2018 and June 30, 2018, respectively	`AccountsReceivableNetCurrent`	$174.52M	USD	Point-in-time
Inventories	`InventoryNet`	$139.93M	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
Inventories	`InventoryNet`	$102.22M	USD	Point-in-time
Vendor deposits	`VendorDepositsCurrent`	$33.05M	USD	Point-in-time
Vendor deposits	`VendorDepositsCurrent`	$39.03M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	74.07M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	72.86M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$16.40M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$18.90M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$931.75M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.00B	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$13.47M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$14.33M	USD	Point-in-time
Deferred tax assets long-term	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$3.11M	USD	Point-in-time
Deferred tax assets long-term	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$3.11M	USD	Point-in-time
Investments long-term	`LongTermInvestments`	$48.45M	USD	Point-in-time
Investments long-term	`LongTermInvestments`	-	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$6.73M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$3.79M	USD	Point-in-time
Total assets	`Assets`	$1.00B	USD	Point-in-time
Total assets	`Assets`	$1.02B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$43.07M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$14.10M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$23.98M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$5.78M	USD	Point-in-time
Debt short-term	`ShortTermBorrowings`	$24.43M	USD	Point-in-time
Debt short-term	`ShortTermBorrowings`	$24.43M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$60.68M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$68.61M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$112.92M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$152.16M	USD	Point-in-time
Income taxes payable long-term	`UnrecognizedTaxBenefitsInLongTermIncomeTaxesPayable`	$127.72M	USD	Point-in-time
Income taxes payable long-term	`UnrecognizedTaxBenefitsInLongTermIncomeTaxesPayable`	$119.12M	USD	Point-in-time
Debt long-term	`LongTermDebtNoncurrent`	$460.35M	USD	Point-in-time
Debt long-term	`LongTermDebtNoncurrent`	$454.25M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$5.84M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$7.32M	USD	Point-in-time
Total liabilities	`Liabilities`	$732.86M	USD	Point-in-time
Total liabilities	`Liabilities`	$706.83M	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 9)	`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: 72,857,887 and 74,072,521 outstanding at September 30, 2018 and June 30, 2018, respectively	`CommonStockValue`	$73.00K	USD	Point-in-time
Common stock$0.001 par value; 500,000,000 shares authorized: 72,857,887 and 74,072,521 outstanding at September 30, 2018 and June 30, 2018, respectively	`CommonStockValue`	$74.00K	USD	Point-in-time
Additional paidin capital	`AdditionalPaidInCapital`	-	USD	Point-in-time
Additional paidin capital	`AdditionalPaidInCapital`	$393.00K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-146.00K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	-	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$315.28M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$270.71M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$270.64M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$315.75M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$1.00B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$1.02B	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$282.90M	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$245.87M	USD	1 Quarter
Cost of revenues	`CostOfGoodsAndServicesSold`	$151.30M	USD	1 Quarter
Cost of revenues	`CostOfGoodsAndServicesSold`	$134.21M	USD	1 Quarter
Gross profit	`GrossProfit`	$131.61M	USD	1 Quarter
Gross profit	`GrossProfit`	$111.66M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$16.93M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$18.22M	USD	1 Quarter
Sales, general and administrative	`SellingGeneralAndAdministrativeExpense`	$7.67M	USD	1 Quarter
Sales, general and administrative	`SellingGeneralAndAdministrativeExpense`	$13.77M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$31.99M	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`	$99.62M	USD	1 Quarter
Interest expense and other, net	`OtherNonoperatingIncomeExpense`	$-2.53M	USD	1 Quarter
Interest expense and other, net	`OtherNonoperatingIncomeExpense`	$-1.36M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$85.70M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$97.09M	USD	1 Quarter
Provisions for income taxes	`IncomeTaxExpenseBenefit`	$10.78M	USD	1 Quarter
Provisions for income taxes	`IncomeTaxExpenseBenefit`	$11.39M	USD	1 Quarter
Net income	`NetIncomeLoss`	$74.92M	USD	1 Quarter
Net income	`NetIncomeLoss`	$85.70M	USD	1 Quarter
Basic (in usd per share)	`EarningsPerShareBasic`	$1.16	USD	1 Quarter
Basic (in usd per share)	`EarningsPerShareBasic`	$0.93	USD	1 Quarter
Diluted (in usd per share)	`EarningsPerShareDiluted`	$1.16	USD	1 Quarter
Diluted (in usd per share)	`EarningsPerShareDiluted`	$0.92	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	80.14M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	73.77M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	81.75M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	73.96M	shares	1 Quarter
Unrealized (loss) on available-for-sale securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$-146.00K	USD	1 Quarter
Unrealized (loss) on available-for-sale securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	-	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-146.00K	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	-	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$85.56M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$74.92M	USD	1 Quarter

Cash Flow Statement 74 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$74.92M	USD	1 Quarter
Net income	`NetIncomeLoss`	$85.70M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.79M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.59M	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$64.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$281.00K	USD	1 Quarter
Premium amortization and (discount accretion), net	`AmortizationOfDebtDiscountPremium`	-	USD	1 Quarter
Premium amortization and (discount accretion), net	`AmortizationOfDebtDiscountPremium`	$-127.00K	USD	1 Quarter
Provision for inventory obsolescence	`InventoryWriteDown`	$324.00K	USD	1 Quarter
Provision for inventory obsolescence	`InventoryWriteDown`	$252.00K	USD	1 Quarter
Provision/(recovery) for loss on vendor deposits	`ProvisionforGainLossonVendorDeposit`	$376.00K	USD	1 Quarter
Provision/(recovery) for loss on vendor deposits	`ProvisionforGainLossonVendorDeposit`	$-855.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$775.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$912.00K	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$21.00K	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$-103.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-9.29M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-12.02M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-19.42M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$37.95M	USD	1 Quarter
Vendor deposits	`IncreaseDecreaseinVendorDeposits`	$15.84M	USD	1 Quarter
Vendor deposits	`IncreaseDecreaseinVendorDeposits`	$-6.84M	USD	1 Quarter
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	-	USD	1 Quarter
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$-4.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.29M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-2.39M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$29.09M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-22.41M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$9.61M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$7.06M	USD	1 Quarter
Deferred revenues	`IncreaseDecreaseInContractWithCustomerLiability`	$3.31M	USD	1 Quarter
Deferred revenues	`IncreaseDecreaseInContractWithCustomerLiability`	$1.38M	USD	1 Quarter
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$15.70M	USD	1 Quarter
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-16.43M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$93.94M	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`	$2.93M	USD	1 Quarter
Purchase of property and equipment and other long-term assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.04M	USD	1 Quarter
Purchase of investments	`PaymentsToAcquireInvestments`	$147.93M	USD	1 Quarter
Purchase of investments	`PaymentsToAcquireInvestments`	-	USD	1 Quarter
Proceeds from sale of investments	`ProceedsFromSaleOfAvailableForSaleSecuritiesDebt`	-	USD	1 Quarter
Proceeds from sale of investments	`ProceedsFromSaleOfAvailableForSaleSecuritiesDebt`	$3.85M	USD	1 Quarter
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.93M	USD	1 Quarter
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-148.12M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$108.00M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$106.76M	USD	1 Quarter
Payment of common stock cash dividends	`PaymentsOfDividends`	$18.51M	USD	1 Quarter
Payment of common stock cash dividends	`PaymentsOfDividends`	-	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$722.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$194.00K	USD	1 Quarter
Tax withholdings related to net share settlements of restricted stock units	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$-351.00K	USD	1 Quarter
Tax withholdings related to net share settlements of restricted stock units	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$-365.00K	USD	1 Quarter
Net cash (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-66.38M	USD	1 Quarter
Net cash (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-131.69M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-185.87M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$27.61M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$604.20M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$480.81M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$631.81M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$666.68M	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`	$480.81M	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`	$666.68M	USD	Point-in-time
Income taxes paid, net of refunds	`IncomeTaxesPaidNet`	$1.93M	USD	1 Quarter
Income taxes paid, net of refunds	`IncomeTaxesPaidNet`	$3.52M	USD	1 Quarter
Interest paid	`InterestPaidNet`	$8.20M	USD	1 Quarter
Interest paid	`InterestPaidNet`	$1.79M	USD	1 Quarter
Unpaid stock repurchases	`DividendsCash`	$6.00M	USD	1 Quarter
Unpaid stock repurchases	`DividendsCash`	$8.77M	USD	1 Quarter
Unpaid property and equipment and other long-term assets	`CapitalExpendituresIncurredButNotYetPaid`	$178.00K	USD	1 Quarter
Unpaid property and equipment and other long-term assets	`CapitalExpendituresIncurredButNotYetPaid`	$30.00K	USD	1 Quarter
Unpaid investment purchases	`LiabilitiesAssumed1`	$646.00K	USD	1 Quarter
Unpaid investment purchases	`LiabilitiesAssumed1`	-	USD	1 Quarter

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