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How Ubiquiti (UI) makes money

Ubiquiti (UI) made $1.0B of revenue in the first quarter fiscal 2027 (Q1 FY27), +40% from a year earlier. Enterprise technology brought in $941M (92%); Service provider technology brought in $84.9M (8%). Of every dollar of revenue, 47¢ was left as gross profit, 38¢ was left as operating profit, 31¢ was left as net earnings.

Drawing the Sankey…

Ubiquiti revenue by segment, Q1 FY27Ubiquiti revenue by segment, Q1 FY27Enterprise technology$941MService provider technology$84.9M
Ubiquiti: revenue by line, Q3 FY25 to Q1 FY27Ubiquiti: revenue by line, Q3 FY25 to Q1 FY27Enterprise technologyService provider tech…Enterprise technology: $941M latest$941MService provider technology: $84.9M latest$84.9MQ3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Enterprise technology went from 88% of revenue in Q3 FY25 to 92% in Q1 FY27, the largest shift in the mix.
Ubiquiti revenue by quarterUbiquiti revenue by quarter$664MQ3 FY25$759MQ4 FY25$734MQ1 FY26$815MQ2 FY26$788MQ3 FY26$937MQ4 FY26$1.0BQ1 FY27
Ubiquiti: where each dollar of revenue goesUbiquiti: where each dollar of revenue goesCost of revenue53¢Gross profit47¢Operating expenses9¢Operating profit38¢Income tax8¢Net earnings31¢Operating cash flow31¢Free cash flow30¢

Revenue by segment, Q1 FY27

SegmentRevenueShareQ/QY/Y
Enterprise technology$941M91.7%+8%+43%
Service provider technology$84.9M8.3%+23%+11%

Where each dollar of revenue goes

LineQ1 FY27% of revenue
Revenue$1.0B100.0%
Cost of revenue$541M52.7%
Gross profit$485M47.3%
Operating expenses$93.9M9.1%
Operating profit$391M38.1%
Income tax$77.2M7.5%
Net earnings$320M31.2%
Operating cash flow$319M31.0%
Free cash flow$312M30.4%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q1 FY27$1.0B+40%
Q4 FY26$937M+24%
Q3 FY26$788M+19%
Q2 FY26$815M+36%
Q1 FY26$734M+33%
Q4 FY25$759M+50%
Q3 FY25$664M+35%

From Ubiquiti's 10-Q filed Nov 6, 2026 (on EDGAR).

Questions

How does Ubiquiti make money?

Ubiquiti (UI) made $1.0B of revenue in the first quarter fiscal 2027 (Q1 FY27), +40% from a year earlier. Enterprise technology brought in $941M (92%); Service provider technology brought in $84.9M (8%). Of every dollar of revenue, 47¢ was left as gross profit, 38¢ was left as operating profit, 31¢ was left as net earnings.

What is Ubiquiti's biggest business?

Enterprise technology: $941M in the first quarter fiscal 2027, 92% of revenue, +43% from a year earlier.

What is Ubiquiti's profit margin?

Net earnings were $320M, 31.2% of revenue, in the first quarter fiscal 2027; the operating margin was 38.1%.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.