UI on NYSE

Ubiquiti

Logo: Ubiquiti Inc., Public domain, via Wikimedia Commons5

American technology company

Ubiquiti Inc. (formerly Ubiquiti Networks, Inc.) is an American technology company founded in San Jose, California, in 2003. Now based in New York City, Ubiquiti manufactures and sells wireless data communication and wired products for enterprises and homes under multiple brand names. On October 13, 2011, Ubiquiti had its initial public offering (IPO) at 7.04 million shares, at $15 per share, raising $30.5 million.3 It was founded by Robert J. Pera.1 It employed 1,377 people in 2022.1 Wikipedia text CC BY-SA 4.0

Price unavailable

Last updated Oct 21, 2026.

Overview

$3.3BRevenue, fiscal 20266
$960.3MNet income, fiscal 20266
Oct 2003Founded1

Compare with Vistance Networks, Inc., Motorola Solutions or Sierra Wireless, or pick any stock.

  • TickerUI on NYSE1
  • Industrycomputer network1
  • HeadquartersNew York City1
  • Websitewww.ui.com
  • Incorporated inDE7
  • Business address685 Third Avenue, 27Th Floor, New York, Ny 100177
  • Filer categoryLarge accelerated filer7
  • Legal formCorporation4
  • LEI5299007MITA4DMQCU7474
  • StatusActive4
  • LEI statusIssued and current4
  • Registered addressc/o THE CORPORATION TRUST COMPANY, CORPORATION TRUST CENTER 1209 ORANGE ST, 19801 Wilmington, United States4
  • Registered withDivision of Corporations, Department of State, 48345364
Guifi.net supernode hardware
Photo: Lluis tgn, CC BY-SA 4.0, via Wikimedia Commons10

Ubiquiti Inc. (formerly Ubiquiti Networks, Inc.) is an American technology company founded in San Jose, California, in 2003. Now based in New York City, Ubiquiti manufactures and sells wireless data communication and wired products for enterprises and homes under multiple brand names. On October 13, 2011, Ubiquiti had its initial public offering (IPO) at 7.04 million shares, at $15 per share, raising $30.5 million.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2026

46.2%Gross margin6
36.2%Operating margin6
29.3%Net margin6
27.2%Revenue growth, 20266
66.7%Return on equity6
$908.9MFree cash flow6

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Enterprise Technology brought in 91% of the revenue Ubiquiti broke down this way in fiscal 2026.

  1. Enterprise Technology$3.0B691%up 32% from 2025
  2. Service Provider Technology$301.9M69%down 5% from 2025
Products and services by year
Products and services202420252026
Enterprise Technology$1.6B$2.3B$3.0B
Service Provider Technology$310.8M$319.3M$301.9M

Regions

North America brought in 36% of the revenue Ubiquiti broke down this way in fiscal 2026.

  1. North America$1.7B636%up 35% from 2025
  2. United States$1.6B632%up 31% from 2025
  3. EMEA$1.2B624%up 18% from 2025
  4. Asia Pacific$220.2M65%up 30% from 2025
  5. South America$130.8M63%up 19% from 2025
Regions by year
Regions202420252026
North America$946.4M$1.3B$1.7B
United States$881.0M$1.2B$1.6B
EMEA$740.1M$999.4M$1.2B
Asia Pacific$127.9M$168.8M$220.2M
South America$114.0M$109.8M$130.8M

Where the money goes

Where each dollar of revenue went, fiscal 2026

  • Cost of revenue54¢$1.8B
  • Research and development6¢$204.2M
  • Selling, general and admin4¢$121.8M
  • Income tax7¢$222.8M
  • Profit29¢$960.3M

Out of $3.3B in revenue.6

Where each dollar of operating cash went, fiscal 2026

  • Capital spending2¢$19.7M
  • Dividends paid21¢$193.6M
  • Kept or used elsewhere77¢$715.3M

Out of $928.7M of cash from operations.6

Financial statements

Revenue11121314156$3.3B in 2026+182% since 2019
0$1.0B$2.0B$3.0B$4.0B2019: $1.2B$1.2B20192020: $1.3B$1.3B2020+11%2021: $1.9B$1.9B2021+48%2022: $1.7B$1.7B2022−11%2023: $1.9B$1.9B2023+15%2024: $1.9B$1.9B2024−1%2025: $2.6B$2.6B2025+33%2026: $3.3B$3.3B2026+27%
Gross profit11121314156$1.5B in 2026+181% since 2019
0$500.0M$1.0B$1.5B$2.0B2019: $537.6M$537.6M20192020: $608.2M$608.2M2020+13%2021: $912.3M$912.3M2021+50%2022: $669.8M$669.8M2022−27%2023: $760.7M$760.7M2023+14%2024: $739.8M$739.8M2024−3%2025: $1.1B$1.1B2025+51%2026: $1.5B$1.5B2026+35%
Operating income11121314156$1.2B in 2026+201% since 2019
0$500.0M$1.0B$1.5B2019: $394.3M$394.3M20192020: $478.2M$478.2M2020+21%2021: $742.6M$742.6M2021+55%2022: $462.3M$462.3M2022−38%2023: $544.6M$544.6M2023+18%2024: $499.0M$499.0M2024−8%2025: $836.3M$836.3M2025+68%2026: $1.2B$1.2B2026+42%
Net income11121314156$960.3M in 2026+198% since 2019
0$250.0M$500.0M$750.0M$1.0B2019: $322.7M$322.7M20192020: $380.3M$380.3M2020+18%2021: $616.6M$616.6M2021+62%2022: $378.7M$378.7M2022−39%2023: $407.6M$407.6M2023+8%2024: $350.0M$350.0M2024−14%2025: $711.9M$711.9M2025+103%2026: $960.3M$960.3M2026+35%

Every line of the income statement as filed: the last 3 fiscal years, latest first.6

Period ending2026-06-302025-06-302024-06-30
Revenues$3.3B$2.6B$1.9B
Cost of revenues$1.8B$1.5B$1.2B
Gross profit$1.5B$1.1B$739.8M
Research and development$204.2M$169.7M$159.8M
Sales, general and administrative$121.8M$111.5M$81.0M
Total operating expenses$325.9M$281.2M$240.8M
Income from operations$1.2B$836.3M$499.0M
Interest expense and other, net$2.4M$30.6M$75.2M
Income before income taxes$1.2B$805.7M$423.8M
Provision for income taxes$222.8M$93.7M$73.9M
Net income$960.3M$711.9M$350.0M
Basic (in dollars per share)$15.87$11.77$5.79
Diluted (in dollars per share)$15.85$11.76$5.79
Basic (in shares)60.5M shares60.5M shares60.5M shares
Diluted (in shares)60.6M shares60.5M shares60.5M shares
Unrealized (losses) gains on available-for-sale investments-$4.0K$0$0
Other comprehensive (loss) income-$4.0K$0$0
Comprehensive income$960.3M$711.9M$350.0M

Compare Ubiquiti with another company

Corporate structure

Ubiquiti sits at the top of its group. 3 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Ubiquiti

  • Robert J. Pera Filed SC 13G/A on Ubiquiti, latest Feb 15, 2024 (2 filings since Aug 31, 2023)
  • Ubiquiti Wilmington, Delaware, United States
    • Ubiquiti (Taiwan) Sales Limited Subsidiary · Taiwan
    • Ubiquiti Holdings LLC Subsidiary · Delaware, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Ubiquiti reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$175.1M6 Jun 30, 2026$159.8M6 Jun 30, 2025+9.6%
Accumulated depreciation$99.2M6 Jun 30, 2026$86.3M6 Jun 30, 2025+14.9%
Property and equipment, net$75.9M6 Jun 30, 2026$73.5M6 Jun 30, 2025+3.3%
Operating-lease assets (leased space)$75.9M6 Jun 30, 2026$44.7M6 Jun 30, 2025+69.9%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$522.6M6 Jun 30, 2026$149.7M6 Jun 30, 2025+249.0%
Marketable securities, current$88.6M6 Jun 30, 2026$06 Jun 30, 2025
Debt securities available for sale$99.3M6 Jun 30, 2026$427.0K12 Jun 30, 2022+23152.2%

Intangibles and goodwill

ItemLatestA year beforeChange
Intangible assets, net (excluding goodwill)$1.7M6 Jun 30, 2026$2.6M6 Jun 30, 2025−33.9%
Accumulated amortization$8.5M6 Jun 30, 2026$9.1M6 Jun 30, 2025−6.6%
Finite-lived intangibles, net$1.7M6 Jun 30, 2026$2.6M15 Jun 30, 2025−33.9%

Inventory

ItemLatestA year beforeChange
Inventory, total$780.4M6 Jun 30, 2026$675.1M6 Jun 30, 2025+15.6%
Raw materials$77.1M6 Jun 30, 2026$47.1M6 Jun 30, 2025+63.6%
Finished goods$703.4M6 Jun 30, 2026$628.0M6 Jun 30, 2025+12.0%

Properties, in its own words

Our headquarters are located in New York, NY, which we lease through September 30, 2027. In addition, we also lease office and building space around the world and within the facilities of certain suppliers for use as research and development facilities, business development and support offices, warehouses and logistics centers, and test facilities. The size and location of these properties change from time to time based on business requirements. For our research and development and business development and support personnel, we have leased offices in Taiwan, Lithuania, Latvia, Poland, India, Ukraine, the Czech Republic, the Netherlands and elsewhere, including various locations within China and the United States of America. We believe that our existing properties are in good condition and suitable for the conduct of our business.

Below are our material locations as of June 30, 2026, all of which we lease.

The rest of Item 2

Location · Sq. Ft · Lease expiration · Purpose

New York · 6,500 · 9/30/2027 · Corporate Office

Taiwan · 419,000 · 11/30/2036 · R&D and Administration

Czech Republic · 80,000 · 3/31/2029 · Warehouse and R&D

Utah · 53,000 · 6/30/2028 · Warehouse and R&D

Utah · 87,000 · 10/31/2028 · Warehouse

China · 126,000 · 6/30/2028 · R&D and Administration

Netherlands · 149,000 · 5/31/2036 · Warehouse

Memphis · 161,000 · 8/31/2031 · Warehouse

Chicago · 31,000 · 7/31/2031 · Corporate Office & R&D

Latvia · 35,000 · 12/31/2029 · R&D

Portland · 19,000 · 3/31/2032 · R&D

Item 2 of the 10-K filed Aug 21, 2026.19

The story

Founded by Robert J. Pera on Oct 2003.1

Leadership

Who has led Ubiquiti, and when. Pick a name to see everywhere that person has worked.

20052010201520202025
Board members and other officers (18)

Products and brands

  • VoIP phone
  • antenna
  • customer-premises equipment
  • electrical cable
  • network bridge
  • network switch
  • router
  • security camera
  • video camera
  • wireless access point
  • wireless router

Listed on Wikidata.1

Ubiquiti's first product line was its "Super Range" mini-PCI radio card series, which was followed by other wireless products.

The company's Xtreme Range (XR) cards operated on non-standard IEEE 802.11 bands, which reduced the impact of congestion in the 2.4 GHz and 5.8 GHz bands. In August 2007 a group of Italian amateur radio operators set a distance world record for point-to-point links in the 5.8 GHz spectrum. Using two XR5 cards and a pair of 35 dBi dish antennas, the Italian team was able to establish a 304 km (about 188 mi) link at data rates between 4 and 5 Mbit/s.

The company (under its "Ubiquiti Labs" brand) also manufactures a home-oriented wireless mesh network router and access point combination device, as a consumer-level product called AmpliFi.

Brands

Ubiquiti product lines include UniFi, AmpliFi, EdgeMax, UISP, airMAX, airFiber, GigaBeam, and UFiber.

Read the full text

Their most well known product line is UniFi which is focused on home, prosumer, business wired and wireless networking in addition to IP cameras, physical access control systems, and VoIP phones. The EdgeMax product line is dedicated to wired networking, containing only routers and switches. UISP, announced in 2020, is a range of products for internet service providers.

airMAX is a product line dedicated to creating point-to-point (PtP) and point-to-multi-point (PtMP) links between networks. airFiber and UFiber are used by wireless and fiber Internet service providers (ISP) respectively.

Software products

Ubiquiti develops a variety of software controllers for their various products including access points, routers, switches, cameras, and locks. These controllers manage all connected devices and provide a single point for configuration and administration. The software is included as part of UniFi OS, an operating system that runs on devices called UniFi OS Consoles (UniFi Dream Machine, Dream Wall, Dream Router, Cloud Key).

The UniFi Network controller can alternatively be installed on Linux, FreeBSD, macOS, or Windows, while the other applications included with UniFi OS such as UniFi Protect and UniFi Access must be installed on a UniFi OS Console device.

WiFiman is an internet speed test and network analyzer tool that is integrated into most Ubiquiti products. It has mobile apps and a web version.

From Wikipedia’s article on Ubiquiti, shared under CC BY-SA 4.0.8

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Ubiquiti (Taiwan) Sales Limited Taiwan9
  • Ubiquiti Holdings LLC Delaware9

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Employees over time

  • 20221,3771
  • 20188431

Former names

  • Ubiquiti Networks, Inc.Jun 17, 2011 to Aug 19, 20197

Timeline

  1. Aug 21, 20268-K Results of operations; Other events40
  2. May 8, 20268-K Results of operations41
  3. Feb 6, 20268-K Results of operations42
  4. Dec 5, 20258-K Listing notice or transfer; Shareholder vote43
  5. Nov 7, 20258-K Results of operations44
  6. Aug 22, 20258-K Results of operations; Other events45
  7. May 9, 20258-K Results of operations46
  8. Feb 7, 20258-K Results of operations47
  9. Dec 6, 20248-K Shareholder vote48
  10. Nov 8, 20248-K Results of operations49
  11. Aug 23, 20248-K Results of operations50
  12. May 10, 20248-K Results of operations51
  13. 2019Went public Listed on NYSE1
  14. Oct 12, 2011New chief executive Robert J. Pera becomes CEO20
  15. Oct 2003Founded Founded1

Calendar

Coming up

  1. Nov 6, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported $3.42 a share, on Nov 7, 2025.52

When it reported results

  1. Aug 21, 2026Reported quarterly or annual results40
  2. May 8, 2026Reported quarterly or annual results41
  3. Feb 6, 2026Reported quarterly or annual results42
  4. Nov 7, 2025Reported quarterly or annual results44
  5. Aug 22, 2025Reported quarterly or annual results45
  6. May 9, 2025Reported quarterly or annual results46
  7. Feb 7, 2025Reported quarterly or annual results47
  8. Nov 8, 2024Reported quarterly or annual results49

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

77 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 26 major events, 16 insider forms, 2 large holders, 13 other. The latest 20:

  1. Aug 21, 20268-K EDGAR
  2. Aug 21, 202610-K EDGAR
  3. Aug 20, 20264 EDGAR
  4. May 29, 2026SD EDGAR
  5. May 15, 20264 EDGAR
  6. May 13, 2026144 EDGAR
  7. May 8, 20268-K EDGAR
  8. May 8, 202610-Q EDGAR
  9. Feb 6, 20268-K EDGAR
  10. Feb 6, 202610-Q EDGAR
  11. Dec 5, 20258-K EDGAR
  12. Nov 14, 20254 EDGAR
  13. Nov 12, 2025144 EDGAR
  14. Nov 7, 20258-K EDGAR
  15. Nov 7, 202510-Q EDGAR
  16. Oct 24, 2025DEF 14A EDGAR
  17. Aug 22, 20258-K EDGAR
  18. Aug 22, 202510-K EDGAR
  19. Aug 7, 20254 EDGAR
  20. Jul 3, 20254 EDGAR

The 77 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

7 open-market trades by officers, directors and large owners since October 2021: 0 buys and 7 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
May 13, 2026Radigan KevinCHIEF ACCOUNTING OFFICERSale500$680.53$340.3KForm 4
Nov 12, 2025Radigan KevinCHIEF ACCOUNTING OFFICERSale350$576.58$201.8KForm 4
Feb 12, 2025Radigan KevinCHIEF ACCOUNTING OFFICERSale1,000$347.99$348.0KForm 4
Sep 6, 2022SEGE RONALDDirectorSale2,112$300.80$635.3KForm 4
May 18, 2022SEGE RONALDDirectorSale2,112$246.98$521.6KForm 4
Feb 18, 2022SEGE RONALDDirectorSale2,112$247.71$523.2KForm 4
Nov 15, 2021SEGE RONALDDirectorSale1,584$304.53$482.4KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Kevin Radigan67$500.0K$831.5K54
2025Robert J. Pera47$630.7K54
2024Chief Executive Officer$810.5K54
2024Chief Accounting and Finance Officer$475.0K$773.2K54
2023Chief Accounting and Finance Officer$445.0K$1.1M54
2023Chief Executive Officer$976.5K54

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.305,245$163.0M0.0%+10,691
Renaissance Technologies LLC198,344$105.9M0.1%−20,600
SW Investment Management LLC140,000$74.8M21.3%−2,500
Capital World Investors113,839$60.8M0.0%+6,224
State Street Corp101,663$54.3M0.0%+16,198
Arrowstreet Capital, Limited Partnership91,450$48.8M0.0%−92,114
Geode Capital Management, LLC74,029$39.5M0.0%−1,412
Goldman Sachs Group Inc69,500$37.1M0.0%−7,435
Morgan Stanley68,963$36.8M0.0%−8,986
Aqr Capital Management LLC67,472$36.0M0.0%−61,731
Invesco Ltd.66,159$35.3M0.0%+53,515
Millennium Management LLC65,008$34.7M0.0%New
Bank of New York Mellon Corp56,337$30.1M0.0%+7,882
Vanguard Capital Management LLC52,005$27.8M0.0%+1,600
Walleye Capital LLC51,332$27.4M0.1%+48,702
Jpmorgan Chase & Co48,222$26.3M0.0%+5,149
Qube Research & Technologies Ltd46,462$24.8M0.0%+34,531
Norges Bank45,444$24.3M0.0%New
Wealth Enhancement Advisory Services, LLC43,271$23.4M0.0%−74,775
First Trust Advisors LP42,198$22.5M0.0%+16,748
Gotham Asset Management, LLC40,689$21.7M0.1%−4,950
Federated Hermes, Inc.39,357$21.0M0.0%New
Capital Impact Advisors, LLC37,507$20.0M1.1%+20,582
Canada Pension Plan Investment Board35,840$19.1M0.0%+23,380
Long Walk Management LP34,532$18.4M4.2%−10,718

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

5 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
May 3, 2024Tommy TubervilleRepublican, SenateSale$1,001 - $15,000−404.8%Report
May 3, 2023Lois FrankelDemocratic, HouseSale$1,001 - $15,000−81.2%Report
Apr 19, 2023Lois FrankelDemocratic, HousePartial sale$1,001 - $15,000−64.8%Report
Sep 21, 2022Lois FrankelDemocratic, HousePartial sale$1,001 - $15,000−4.6%Report
Sep 20, 2022Lois FrankelDemocratic, HousePartial sale$1,001 - $15,000−4.4%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How Ubiquiti is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARUbiquiti Inc.2
  • CIK0001511737
  • Employer ID (EIN)32-009737719
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company19
  • Incorporated inDelaware19
  • Fiscal year endsJune 302
  • Industry code (SIC)3663 Radio & Tv Broadcasting & Communications Equipment2
  • SEC reviewing officeOffice of Manufacturing, Division of Corporation Finance2
  • Business address685 Third Avenue, 27Th Floor, New York, NY 100172
  • Phone646-780-79582
  • Shares outstanding60,528,381 shares as of Aug 20, 202619
  • Public float$2.3B as of Dec 31, 202519
  • AuditorKPMG LLP, New York, New York PCAOB ID 185; it also attests to the company’s internal control over financial reporting19
  • On EDGAR sinceJun 17, 20112
  • Filings429 in all: 4 (133), 8-K (121), 10-Q (45), 3 (22), 10-K (15), DEF 14A (14), SC 13G/A (13), SD (13)2
    All 27 form types

    CORRESP (9), UPLOAD (8), S-1/A (7), S-8 (4), SC 13G (4), 144 (3), 424B4 (2), 8-A12B (2), DEFA14A (2), EFFECT (2), S-1 (2), 10-Q/A (1), 25 (1), 3/A (1), 4/A (1), CERT (1), CERTNAS (1), CT ORDER (1), FWP (1)

  • Latest filingsAnnual report (10-K) Aug 21, 2026
    Quarterly report (10-Q) May 8, 2026
    Proxy statement (DEF 14A) Oct 24, 2025
    Latest 8-K (8-K) Aug 21, 2026

Securities registered for trading

ClassSymbolExchange
Common stock, $0.001 par value per shareUINew York Stock Exchange

From the cover page of the 10-K filed Aug 21, 2026 (Section 12(b) of the Exchange Act).19

Risk factors and legal proceedings

The risks Ubiquiti names in Item 1A of its 10-K filed Aug 21, 2026: 59 risks under these headings, as written.19

  • Risks Related to Our Business and Industry
  • We have limited visibility into future sales as a result of our reliance on distributors, which may increase volatility in our results and makes it difficult to forecast our future results of operations.
  • The markets we serve can be especially volatile, and weakness in orders could harm our future results of operations.
  • We may need to build inventory for new product announcements and shipments or decide to increase or maintain higher levels of inventory, which may result in inventory write-downs and/or increased vendor deposits.
  • We rely upon a limited number of distributors, and changes in our relationships with our distributors or changes within our distributors may disrupt our sales.
  • We may not be able to enhance our products to keep pace with technological and market developments while offering competitive prices.
  • The markets in which we compete are highly competitive.
  • A number of our current or potential competitors have longer operating histories, greater brand recognition, larger customer bases and significantly greater resources than we do.
  • The complexity of our products could result in unforeseen delays or expenses caused by undetected defects or bugs.
  • Security vulnerabilities in our or our service providers' products, services and systems, in our distribution channel, or supply chain could lead to reduced revenues and claims against us.
  • We may be unable to anticipate or fail to adequately mitigate against increasingly sophisticated methods to engage in illegal or fraudulent activities against us.
  • Our business and prospects depend on the strength of our brand.
The other 48 risks
  • We may fail to effectively manage the challenges associated with our growth.
  • We rely upon a limited number of contract manufacturers to produce our products. Shortages of components or manufacturing capacity could increase our costs or delay our ability to fulfill future orders and could have a material adverse impact on our business and results of operations.
  • We rely upon a limited number of suppliers. If these sources fail to satisfy our supply requirements or we are unable to manage our supply requirements through other sources, it could disrupt our business or have a material adverse effect on our results of operations and financial condition.
  • Our contract manufacturers, logistics centers and certain administrative and research and development operations, as well as our customers and suppliers, are located in areas likely to be subject to natural disasters, public health problems, military conflicts and geopolitical tensions, which could adversely affect our business, results of operations and financial condition.
  • General global economic downturns and macroeconomic trends, including inflation or slowed economic growth, may negatively affect our customers and their ability to purchase our products. A downturn or such other trends may decrease our revenues and increase our costs and may increase credit risk with our customers and impact our ability to collect accounts receivable and recognize revenue.
  • We have been investing and expect to continue to invest in growth areas in our enterprise and service provider technologies, and if the return on these investments is lower or develops more slowly than we expect, our results of operations may be harmed.
  • To remain competitive and stimulate customer demand, we must effectively manage product introductions, product transitions and marketing.
  • Our growth depends in part on the success of our strategic relationships with third parties and our ability to integrate with third-party applications and software.
  • Our strategy for our products depends upon effectively maintaining and further developing our sales channels, including developing and supporting our retail sales channel and distributors.
  • If we are unable to anticipate customer preferences and successfully develop desirable products and solutions, we might not be able to maintain or increase revenue and profitability.
  • We are incorporating artificial intelligence technologies into our products, services and processes. These technologies may present business, compliance, and reputational risks.
  • We may experience risks in our investments due to changes in the market, which could adversely affect the value or liquidity of our investments.
  • We maintain cash deposits in excess of federally insured limits. Adverse developments affecting financial institutions, including bank failures, could adversely affect our liquidity and financial performance.
  • Our reputation and/or business could be negatively impacted by sustainability matters and/or our reporting of such matters.
  • Risks Related to Our International Operations
  • Our business is susceptible to risks associated with operations outside of the United States.
  • Our business may be negatively affected by geopolitical events and foreign policy responses.
  • Our third-party logistics and warehousing providers in Vietnam and China and elsewhere may fail to safeguard and accurately manage and report our inventory.
  • We face significant political risks associated with doing business in mainland China and Taiwan, particularly due to the tense relationship between mainland China and Taiwan, that could negatively affect our business.
  • To the extent that we develop some of our own manufacturing capacity, we will be subject to various risks associated with such activities.
  • Our ability to introduce new products and support our existing products depends on our ability to manage geographically dispersed research and development teams.
  • Risks Related to Intellectual Property
  • We have limited ability to obtain and enforce intellectual property rights, and may fail to effectively obtain and enforce such rights.
  • Enforcement of our intellectual property rights abroad, particularly in China, Russia and South America, is limited.
  • Our contract manufacturers may not respect our intellectual property, and may produce products that compete with ours.
  • We operate in an industry with extensive intellectual property litigation.
  • The production of counterfeit versions of our products may reduce our sales levels and damage our brand.
  • We use open source software in our products that may subject source code to public release or require us to re-engineer our products.
  • Risks Related to Our Management and Structure
  • We are reliant on our founder and Chief Executive Officer, Robert J. Pera, and the departure or loss of Mr. Pera or other key personnel would disrupt our business.
  • We may fail to manage our growth effectively and develop and implement appropriate control systems.
  • Our profitability may decline as we expand into new product areas.
  • Our operating expenses are increasing as we make expenditures to enhance and expand our operations.
  • We rely on third-party software and services to conduct our enterprise resource planning, financial planning and analysis, and financial reporting. We also rely on third party software and service for our computing, storage, bandwidth, and other services. Any disruption of or interference with these services would negatively affect our operations and seriously harm our business.
  • Our debt levels could adversely affect our ability to raise additional capital to pay dividends, repurchase our shares of common stock and fund our operations or limit our ability to react to changes in our industry or the economy.
  • If we are unable to integrate future acquisitions successfully, our business, results of operations and prospects could be harmed.
  • Our investments in new businesses, products, services, technologies, joint ventures and other strategic transactions are inherently risky, and could disrupt our current operations.
  • Risks Related to Our Common Stock
  • Our Chief Executive Officer owns a majority of our common stock.
  • Not paying cash dividends to our stockholders, or repurchasing shares of our common stock could cause the market price for our common stock to decline.
  • Fluctuations in our results of operations could cause the market price of our common stock to decline.
  • Risks Related to Regulatory, Legal and Tax Matters
  • We are subject to export control and economic sanctions laws in the United States and elsewhere which could impair our ability to compete in international markets and subject us to liability if we do not comply with applicable laws.
  • Existing and new regulations, changes in existing regulations, or the enforcement of any regulations related to our products may result in unanticipated burdens, reduced demand, costs and liabilities and could materially and adversely affect our financial condition, results of operations, and our brand.
  • Our failure to comply with U.S. and foreign laws related to privacy, data security, data access, cybersecurity and data protection, such as the General Data Protection Regulation and China Cybersecurity Law, could adversely affect our financial condition, results of operations, and our brand.
  • Government regulations designed to protect personal privacy may make it difficult for us to sell our products.
  • The vast majority of our products rely on the availability of specific unlicensed radio frequency spectrum.
  • We could be adversely affected by unfavorable results in litigation.
  • We may become subject to warranty claims, product liability and product recalls.
  • Our customers and the users of our products may expect us to indemnify them against claims for intellectual property infringement, defective products and other losses.
  • If we fail to maintain an effective system of internal controls, we may not be able to accurately report our financial condition or results of operations or safeguard our assets.
  • Failure to comply with the FCPA and similar laws could subject us to penalties and other adverse consequences.
  • Our results could be adversely affected by unfavorable tax law changes, an unfavorable government review of our tax returns, or changes in our geographic earnings mix.

Legal proceedings

Information with respect to this item may be found in Note 10, Commitments and Contingencies in the Notes to Consolidated Financial Statements included under Part IV, Item 15 of this Annual Report on Form 10-K.

The opening of Item 3, Legal Proceedings.19

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