Filing Flows › Ubiquiti (UI) › Q2 FY26
Ubiquiti (UI) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Feb 6, 2026
Ubiquiti (UI) reported revenue of $815M for the second quarter fiscal 2026 (Q2 FY26), +36% from a year earlier and +11% from the quarter before. Operating margin was 35.9%, net earnings $234M (28.7% of revenue).
Ubiquiti, Q2 FY26: revenue $815M (+36% year over year), operating margin 35.9%, net earnings $234M, operating cash flow $264M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $815M | +11% | +36% |
| Gross profit | $374M | +11% | +51% |
| Operating profit | $293M | +12% | +64% |
| Net earnings | $234M | +12% | +71% |
| Operating cash flow | $264M | +33% | +73% |
| Free cash flow | $260M | +35% | +73% |
What changed
Revenue was $814.9M in Q2 FY26, up 36% year over year and up 11% from the previous quarter. Enterprise technology was the largest line at 89% of revenue. Enterprise technology added $210.8M year over year (up 41%), 98% of the total change.
Gross margin was 45.9%, up 4.7 points from a year earlier. Operating profit was $292.9M, a 35.9% margin (up 6.1 points year over year). Of the extra revenue versus a year earlier, 53% reached operating profit, above the 30% margin then. Operating expenses grew 19% against revenue growth of 36%. The fastest-growing cost line was Research & development (+27%). Net earnings were $233.6M, up 71% year over year. The effective tax rate was 19.8%.
Operating cash flow was $263.9M (up 73% year over year), 113% of net earnings. Non-cash charges added back $4.5M of depreciation and amortization and $1.9M of share-based compensation. Working capital and other items added $23.9M. Capital expenditures of $3.6M left free cash flow of $260.3M.
Questions
What was Ubiquiti's revenue in the second quarter fiscal 2026?
Ubiquiti (UI) reported revenue of $815M for the second quarter fiscal 2026 (Q2 FY26), +36% from a year earlier and +11% from the quarter before.
Was Ubiquiti profitable in the second quarter fiscal 2026?
Operating profit was $293M (35.9% of revenue) and net earnings $234M.
Source: Ubiquiti 10-Q on SEC EDGAR.