Ubiquiti Inc.

UI: Shrinking Float Thru Buybacks

Equity Bottom-Up
138 Views, 13 May 2022 00:32
EXECUTIVE SUMMARY
  • The supply chain issues that became an obstacle for Ubiquiti (UI) have yet to abate. Ubiquiti missed fiscal third quarter (March) estimates with a meaningful decline in service provider revenue
  • The Company burned through inventory in the quarter and used its cash flow to aggressively repurchase shares
  • Ubiquiti’s foray into services should broaden the revenue stream and improve cash flow, but it could be another few quarters before this becomes a needle moving endeavor
detail (9-minute read)
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