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U UBIQUITI INC . REPORTS FIRST QUARTER FISCAL 2022 FINANCIAL RESULTS - Revenues of $ 458.9 million - ~ Exhibit 99.1 . • • • ~ GAAP Diluted Earnings Per Share of $ 2.11 ~ New York , NY - November 5 , 2021 - Ubiquiti Inc. ( NYSE : UI ) ( “ Ubiquiti ” or the “ Company ” ) today announced its financial results for the first quarter fiscal 2022 , ended September 30 , 2021 . First Quarter Fiscal 2022 Financial Summary Revenues of $ 458.9 million GAAP diluted EPS of $ 2.11 Repurchased 130,994 shares of common stock at an average price of $ 299.64 per share Additional Financial Highlights The Company repurchased and retired 30,937 shares of common stock between October 1 , 2021 and November 4 , 2021 at an average price of $ 299.94 . As of November 4 , 2021 , the Company had $ 269.6 million available under the stock repurchase program announced in May 2020 , as disclosed in the Form 8 - K filed on May 8 , 2020 . The Company's Board of Directors declared a $ 0.60 per share cash dividend payable on November 22 , 2021 to shareholders of record at the close of business on November 15 , 2021 . Financial Highlights ( $ , in millions , except per share data ) Income statement highlights F1Q22 F4Q21 F1Q21 Revenues 458.9 477.9 473.5 Service Provider Technology 112.1 163.5 157.4 Enterprise Technology 346.8 314.4 316.1 Gross profit 209.5 230.7 228.1 Gross Profit ( % ) 45.6 % 48.3 % 48.2 % Total Operating Expenses 47.8 47.9 38.2 Income from Operations 161.7 182.8 189.9 GAAP Net Income 132.2 154.3 156.5 GAAP EPS ( diluted ) Non - GAAP Net Income 2.11 2.46 2.46 132.8 154.9 157.1 Non - GAAP EPS ( diluted ) 2.12 2.47 2.47 1