Ubiquiti Inc
For the period ended Mar 31, 2024. Filed May 10, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 10, 2024
UI$685.94+0.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows
(In thousands) (Unaudited)
| Nine Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash Flows from Operating Activities: | ||
| Net income | $246,156 | $303,964 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 14,711 | 12,164 |
| Amortization of debt issuance costs | 1,296 | 979 |
| Non-cash lease expense | 202 | 325 |
| Provision for inventory obsolescence | 21,668 | 8,142 |
| Provision for loss on vendor deposits | 16,732 | (2,419) |
| Share-based compensation | 4,671 | 3,394 |
| Provisions for doubtful accounts | 140 | 14 |
| Deferred taxes | 680 | 135 |
| Provision for sales returns | (312) | 62 |
| Other, net | 101 | 1,105 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (19,917) | (26,746) |
| Inventories | 181,717 | (489,463) |
| Vendor deposits | (41,666) | (5,045) |
| Prepaid expenses and other assets | (4,805) | (8,695) |
| Accounts payable | (87,671) | 74,827 |
| Income taxes payable | (28,464) | (28,742) |
| Deferred revenues | 3,235 | (2,561) |
| Accrued and other liabilities | 1,641 | (1,312) |
| Net cash provided by (used in) operating activities | 310,115 | (159,872) |
| Cash Flows from Investing Activities: | ||
| Purchase of property and equipment and other long-term assets | (10,109) | (15,650) |
| Net cash used in investing activities | (10,109) | (15,650) |
| Cash Flows from Financing Activities: | ||
| Proceeds from borrowing under the credit facility- Revolver | — | 380,000 |
| Repayment against credit facility- Revolver | (175,000) | (60,000) |
| Repayment against credit facility- Term | (28,125) | (18,750) |
| Payment of common stock cash dividends | (108,814) | (108,778) |
| Proceeds from exercise of stock options | — | 23 |
| Tax withholdings related to net share settlements of restricted stock units | (406) | (677) |
| Net cash (used in) provided by financing activities | (312,345) | 191,818 |
| Net (decrease) increase in cash and cash equivalents | (12,339) | 16,296 |
| Cash and cash equivalents at beginning of period | 114,826 | 136,224 |
| Cash and cash equivalents at end of period | $102,487 | $152,520 |
| Supplemental Disclosure of Cash Flow Information: | ||
| Income taxes paid, net of refunds | $92,480 | $87,315 |
| Interest paid | $59,589 | $34,241 |
| Non-Cash Investing and Financing Activities: | ||
| Right-of-use asset recognized | $2,250 | $5,814 |
| Unpaid property and equipment and other long-term assets | $94 | $1,097 |
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