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Ubiquiti reported Q4 FY2026 revenue of $937.3 million, above the consensus of $832.8 million. Adjusted earnings per share were $4.73, above the consensus of $3.70.
Revenue rose from $759.2 million a year earlier, while diluted earnings per share increased to $4.70 from $4.41. For fiscal 2026 as a whole, Ubiquiti’s filing attributed revenue growth to its Enterprise Technology platform, partly offset by a decline in Service Provider Technology. The filing said sales increased through both its webstores and distributors.
Quarterly gross margin rose to 45.8% from 45.1%, and operating margin increased to 36.3% from 34.4%. For the full fiscal year, the filing attributed the gross margin increase primarily to favorable product mix and lower indirect costs, partly offset by higher tariffs. Quarterly free cash flow was $293.1 million, compared with $125.2 million a year earlier.
| Q4 FY2026 | Q4 FY2025 | Change | |
|---|---|---|---|
| Revenue | $937.3 million | $759.2 million | 23.5% |
| Diluted EPS | $4.70 | $4.41 | 6.58% |
| Gross margin | 45.8% | 45.1% | 0.6 percentage points |
| Operating margin | 36.3% | 34.4% | 1.8 percentage points |
| Free cash flow | $293.1 million | $125.2 million | 134.2% |
| Against the consensus | Reported | Consensus | Result |
|---|---|---|---|
| Adjusted EPS | $4.73 | $3.70 | Beat by 27.8% |
| Revenue | $937.3 million | $832.8 million | Beat by 12.6% |
Adjusted EPS is the figure the consensus estimates, not the GAAP EPS above.
What management said on the call
Ubiquiti’s filing said component supply volatility has increased delivery lead times and costs and delayed production. The company said its responses have included building inventory, paying higher component and shipping costs, and modifying designs to use alternate suppliers.