10-Q Filing

UBIQUITI INC. CIK: 1511737 Q3 2017

Filing Information

Form Type	10-Q
Accession Number	`0001628280-17-004928`
Period End Date	20170331
Filing Date	20170504
Fiscal Year	2017
Fiscal Period	Q3
XBRL Instance	ubnt-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 64 Cash Flow Statement 72

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$578.00K	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`	$551.03M	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$446.40M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$502.55M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$533.94M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $578 and $48 at March 31, 2017 and June 30, 2016, respectively	`AccountsReceivableNetCurrent`	$82.79M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	80.31M	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 $578 and $48 at March 31, 2017 and June 30, 2016, respectively	`AccountsReceivableNetCurrent`	$125.34M	USD	Point-in-time
Inventories	`InventoryNet`	$132.51M	USD	Point-in-time
Inventories	`InventoryNet`	$57.11M	USD	Point-in-time
Vendor deposits	`VendorDepositsCurrent`	$30.25M	USD	Point-in-time
Vendor deposits	`VendorDepositsCurrent`	$49.78M	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$299.00K	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$10.90M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$10.23M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$6.90M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$862.71M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$728.38M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$13.35M	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`	$4.04M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$1.58M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$1.94M	USD	Point-in-time
Total assets	`Assets`	$882.03M	USD	Point-in-time
Total assets	`Assets`	$747.11M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$53.41M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$51.51M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$1.27M	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$1.49M	USD	Point-in-time
Debt - short-term	`ShortTermBorrowings`	$10.99M	USD	Point-in-time
Debt - short-term	`ShortTermBorrowings`	$14.74M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$26.67M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$29.68M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$99.10M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$90.66M	USD	Point-in-time
Long-term taxes payable	`UnrecognizedTaxBenefitsInLongTermIncomeTaxesPayable`	$26.85M	USD	Point-in-time
Long-term taxes payable	`UnrecognizedTaxBenefitsInLongTermIncomeTaxesPayable`	$23.20M	USD	Point-in-time
Debt - long-term	`LongTermDebtNoncurrent`	$191.56M	USD	Point-in-time
Debt - long-term	`LongTermDebtNoncurrent`	$210.51M	USD	Point-in-time
Deferred revenues - long-term	`DeferredRevenueNoncurrent`	$1.30M	USD	Point-in-time
Deferred revenues - long-term	`DeferredRevenueNoncurrent`	$2.54M	USD	Point-in-time
Total liabilities	`Liabilities`	$306.73M	USD	Point-in-time
Total liabilities	`Liabilities`	$338.99M	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: 80,313,029 and 81,667,129 outstanding at March 31, 2017 and June 30, 2016, respectively	`CommonStockValue`	$82.00K	USD	Point-in-time
Common stock$0.001 par value; 500,000,000 shares authorized: 80,313,029 and 81,667,129 outstanding at March 31, 2017 and June 30, 2016, respectively	`CommonStockValue`	$80.00K	USD	Point-in-time
Additional paidin capital	`AdditionalPaidInCapital`	-	USD	Point-in-time
Additional paidin capital	`AdditionalPaidInCapital`	-	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$542.96M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$440.29M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$543.04M	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`	$882.03M	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Revenues	`SalesRevenueNet`	$218.36M	USD	1 Quarter
Revenues	`SalesRevenueNet`	$167.43M	USD	1 Quarter
Revenues	`SalesRevenueNet`	$636.65M	USD	3 Qtrs
Revenues	`SalesRevenueNet`	$480.72M	USD	3 Qtrs
Cost of revenues	`CostOfRevenue`	$245.68M	USD	3 Qtrs
Cost of revenues	`CostOfRevenue`	$344.12M	USD	3 Qtrs
Cost of revenues	`CostOfRevenue`	$84.94M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$119.27M	USD	1 Quarter
Gross profit	`GrossProfit`	$99.09M	USD	1 Quarter
Gross profit	`GrossProfit`	$292.53M	USD	3 Qtrs
Gross profit	`GrossProfit`	$235.04M	USD	3 Qtrs
Gross profit	`GrossProfit`	$82.49M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$16.60M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$13.82M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$47.48M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$42.81M	USD	3 Qtrs
Sales, general and administrative	`SellingGeneralAndAdministrativeExpense`	$9.07M	USD	1 Quarter
Sales, general and administrative	`SellingGeneralAndAdministrativeExpense`	$26.94M	USD	3 Qtrs
Sales, general and administrative	`SellingGeneralAndAdministrativeExpense`	$8.54M	USD	1 Quarter
Sales, general and administrative	`SellingGeneralAndAdministrativeExpense`	$24.11M	USD	3 Qtrs
Business e-mail compromise (BEC) fraud loss/(recovery)	`UnusualOrInfrequentItemNetGainLoss`	$-8.29M	USD	3 Qtrs
Business e-mail compromise (BEC) fraud loss/(recovery)	`UnusualOrInfrequentItemNetGainLoss`	-	USD	3 Qtrs
Business e-mail compromise (BEC) fraud loss/(recovery)	`UnusualOrInfrequentItemNetGainLoss`	$-3.00K	USD	1 Quarter
Business e-mail compromise (BEC) fraud loss/(recovery)	`UnusualOrInfrequentItemNetGainLoss`	-	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$74.42M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$58.63M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$25.68M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$22.36M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$60.14M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$218.11M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$73.41M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$176.41M	USD	3 Qtrs
Interest expense and other, net	`OtherNonoperatingIncomeExpense`	$-1.04M	USD	1 Quarter
Interest expense and other, net	`OtherNonoperatingIncomeExpense`	$-3.31M	USD	3 Qtrs
Interest expense and other, net	`OtherNonoperatingIncomeExpense`	$-1.28M	USD	3 Qtrs
Interest expense and other, net	`OtherNonoperatingIncomeExpense`	$-510.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$72.37M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$214.80M	USD	3 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$175.13M	USD	3 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$59.63M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$6.93M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$7.94M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$17.98M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$19.22M	USD	3 Qtrs
Net income and comprehensive income	`NetIncomeLoss`	$64.43M	USD	1 Quarter
Net income and comprehensive income	`NetIncomeLoss`	$196.83M	USD	3 Qtrs
Net income and comprehensive income	`NetIncomeLoss`	$155.91M	USD	3 Qtrs
Net income and comprehensive income	`NetIncomeLoss`	$52.70M	USD	1 Quarter
Basic (in usd per share)	`EarningsPerShareBasic`	$2.40	USD	3 Qtrs
Basic (in usd per share)	`EarningsPerShareBasic`	$0.79	USD	1 Quarter
Basic (in usd per share)	`EarningsPerShareBasic`	$0.63	USD	1 Quarter
Basic (in usd per share)	`EarningsPerShareBasic`	$1.83	USD	3 Qtrs
Diluted (in usd per share)	`EarningsPerShareDiluted`	$1.80	USD	3 Qtrs
Diluted (in usd per share)	`EarningsPerShareDiluted`	$2.35	USD	3 Qtrs
Diluted (in usd per share)	`EarningsPerShareDiluted`	$0.62	USD	1 Quarter
Diluted (in usd per share)	`EarningsPerShareDiluted`	$0.77	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	85.05M	shares	3 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	81.65M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	81.88M	shares	3 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	83.35M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	86.43M	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	84.69M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	83.69M	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	83.32M	shares	1 Quarter

Cash Flow Statement 72 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$64.43M	USD	1 Quarter
Net income	`NetIncomeLoss`	$196.83M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$155.91M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$52.70M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.68M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.33M	USD	3 Qtrs
Provision for inventory obsolescence	`InventoryWriteDown`	$1.72M	USD	3 Qtrs
Provision for inventory obsolescence	`InventoryWriteDown`	$580.00K	USD	3 Qtrs
(Recovery)/Provision for loss on vendor deposits	`ProvisionforGainLossonVendorDeposit`	$-1.15M	USD	3 Qtrs
(Recovery)/Provision for loss on vendor deposits	`ProvisionforGainLossonVendorDeposit`	$-96.00K	USD	3 Qtrs
Write off of software development costs	`WriteOffofSoftwareDevelopmentCosts`	$2.50M	USD	3 Qtrs
Write off of software development costs	`WriteOffofSoftwareDevelopmentCosts`	-	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$2.87M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$2.09M	USD	3 Qtrs
Excess tax benefit from employee stock-based awards	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	-	USD	3 Qtrs
Excess tax benefit from employee stock-based awards	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$671.00K	USD	3 Qtrs
Deferred Taxes	`DeferredIncomeTaxesAndTaxCredits`	$156.00K	USD	3 Qtrs
Deferred Taxes	`DeferredIncomeTaxesAndTaxCredits`	$-39.00K	USD	3 Qtrs
Other, net	`OtherNoncashIncomeExpense`	$-855.00K	USD	3 Qtrs
Other, net	`OtherNoncashIncomeExpense`	$-629.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$9.20M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$43.08M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$76.78M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$5.87M	USD	3 Qtrs
Vendor deposits	`IncreaseDecreaseinVendorDeposits`	$-6.63M	USD	3 Qtrs
Vendor deposits	`IncreaseDecreaseinVendorDeposits`	$18.38M	USD	3 Qtrs
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$-2.57M	USD	3 Qtrs
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$10.60M	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.61M	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$3.83M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.98M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-13.95M	USD	3 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$3.42M	USD	3 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$3.93M	USD	3 Qtrs
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$3.05M	USD	3 Qtrs
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$374.00K	USD	3 Qtrs
Accrued liabilities and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$4.29M	USD	3 Qtrs
Accrued liabilities and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-514.00K	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$65.89M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$151.94M	USD	3 Qtrs
Purchase of property and equipment and other long-term assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.82M	USD	3 Qtrs
Purchase of property and equipment and other long-term assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.70M	USD	3 Qtrs
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.70M	USD	3 Qtrs
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.82M	USD	3 Qtrs
Proceeds from revolver loan	`ProceedsFromLongTermLinesOfCredit`	$30.00M	USD	3 Qtrs
Proceeds from revolver loan	`ProceedsFromLongTermLinesOfCredit`	$66.00M	USD	3 Qtrs
Repayments of term loan	`RepaymentsOfLongTermDebt`	$7.50M	USD	3 Qtrs
Repayments of term loan	`RepaymentsOfLongTermDebt`	$7.50M	USD	3 Qtrs
Repurchases of common stock	`RepurchaseOfCommonStock`	$150.00M	USD	3 Qtrs
Repurchases of common stock	`RepurchaseOfCommonStock`	$99.79M	USD	3 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$778.00K	USD	3 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$1.40M	USD	3 Qtrs
Excess tax benefit from employee stock-based awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$671.00K	USD	3 Qtrs
Excess tax benefit from employee stock-based awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	-	USD	3 Qtrs
Tax withholdings related to net share settlements of restricted stock units	`RestrictedStockValueSharesIssuedNetOfTaxWithholdings`	$922.00K	USD	3 Qtrs
Tax withholdings related to net share settlements of restricted stock units	`RestrictedStockValueSharesIssuedNetOfTaxWithholdings`	$1.39M	USD	3 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-90.98M	USD	3 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-77.28M	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$56.15M	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-17.09M	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$551.03M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$446.40M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$502.55M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$533.94M	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`	$446.40M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$502.55M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$533.94M	USD	Point-in-time
Unpaid stock repurchases	`DividendsCash`	$2.96M	USD	3 Qtrs
Unpaid stock repurchases	`DividendsCash`	-	USD	3 Qtrs
Unpaid property and equipment and other long-term assets	`CapitalExpendituresIncurredButNotYetPaid`	$85.00K	USD	3 Qtrs
Unpaid property and equipment and other long-term assets	`CapitalExpendituresIncurredButNotYetPaid`	-	USD	3 Qtrs

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