Ubiquiti reported record fourth-quarter fiscal 2026 revenue of $937.3 million, up 18.9% from the prior quarter and 23.5% from the same quarter a year earlier. For the full fiscal year, revenue reached $3.27 billion, up 27.2% from fiscal 2025.
The company’s enterprise technology business drove most of the growth. Fourth-quarter enterprise technology revenue rose to $868.3 million from $717.9 million in the prior quarter and $680.1 million a year earlier. For the full year, enterprise technology revenue climbed to $2.97 billion from $2.25 billion. Service provider technology revenue fell to $69.0 million in the fourth quarter from $70.3 million in the prior quarter and $79.0 million a year earlier, and declined to $301.9 million for the year from $319.3 million.
By region, North America generated $507.4 million in fourth-quarter revenue, up from $379.9 million a year earlier. Europe, the Middle East and Africa contributed $331.6 million, up from $303.8 million. Asia Pacific rose to $69.4 million from $47.3 million, while South America increased slightly to $28.9 million from $28.1 million. For the full year, North America revenue reached $1.74 billion, up from $1.30 billion, and EMEA rose to $1.18 billion from $999.4 million.
Gross profit increased to $429.3 million in the quarter from $370.7 million in the prior quarter and $342.7 million a year earlier. Gross margin was 45.8%, down from 47.0% in the prior quarter but up from 45.1% a year earlier. For the full year, gross profit was $1.51 billion, with gross margin rising to 46.2% from 43.4%.
Operating expenses were $89.3 million in the quarter, up from $79.9 million in the prior quarter and $81.3 million a year earlier. Research and development rose to $53.0 million from $51.8 million in the prior quarter and $47.5 million a year earlier. Sales, general and administrative expenses increased to $36.3 million from $28.1 million in the prior quarter and $33.9 million a year earlier.
Income from operations climbed to $340.0 million, compared with $290.8 million in the prior quarter and $261.4 million a year earlier. Gaap net income was $284.9 million, up from $233.9 million in the prior quarter and $266.7 million a year earlier. Gaap diluted earnings per share rose to $4.70 from $3.86 in the prior quarter and $4.41 a year earlier. Non-GAAP diluted EPS was $4.73, up from $3.88 in the prior quarter and $3.54 a year earlier.
Interest expense and other, net swung to income of $3.1 million in the quarter, compared with expense of $0.7 million in the prior quarter and expense of $3.2 million a year earlier. For the full year, that line improved to an expense of $2.4 million from $30.6 million in fiscal 2025.
The board declared a $1.00 per-share cash dividend, and the company said it intends to pay at least $1.00 per share in each quarter of fiscal 2027. The stock repurchase authorization was extended through September 30, 2027, with up to $500 million remaining available. As a result of these announcements, the company's shares have moved -9.2% on the market, and are now trading at a price of $521.08. For the full picture, make sure to review Ubiquiti's 8-K report.
