Ubiquiti delivered a solid QQ3 2025 with a revenue of USD 664.17 million, up 34.72% year over year and 10.72% quarter over quarter. Gross margin stood at 44.55% and operating margin at 34.16%, supported by disciplined cost management and favorable product mix within the company’s diversified networking platform portfolio. Net income reached USD 180.44 million, translating to a net margin of 27.17% and earnings per share of USD 2.98 for the quarter, underscoring strong operating leverage and pricing power in its enterprise and service-provider oriented offerings.
Cash flow generation remained robust, with cash from operations of USD 123.57 million and free cash flow of USD 123.57 million. The company ended the quarter with USD 150.97 million in cash and equivalents and a net debt of USD 232.74 million after debt repayments of USD 96.25 million and an aggregate cash dividend payout of USD 36.30 million. Return metrics remained compelling, with ROE of approximately 41.4% and ROA of about 13.9%, supported by a balance sheet that shows manageable leverage (debt to equity around 0.85 and total debt USD 383.71 million).
The quarterly results reflect continued demand for Ubiquiti’s UniFi ecosystem, EdgeMAX/airMAX stack, and carrier-grade backhaul solutions. Management commentary in the quarter emphasized growth drivers from enterprise WLAN deployments, video surveillance, and cloud-managed networking, alongside ongoing investments in product development to sustain margins. The balance sheet displays healthy liquidity and a favorable cash conversion profile, though the company retains exposure to channel dynamics and broader technology cycles. There is no formal forward guidance provided in the dataset; however, strong FCF generation and favorable gross margins position the company to fund product innovation and potential strategic initiatives.