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Ubiquiti announced its financial results for Q1 FY2022, reporting revenues of $458.9 million, a 4.0% drop from the previous quarter and a 3.1% decrease year-over-year. GAAP diluted EPS stood at $2.11, down 13.4% from the prior year. The decline in revenue stemmed primarily from the Service Provider segment due to supply chain disruptions and rising logistics costs. Gross profit was $209.5 million, with a gross margin of 45.6%, reflecting a 2.5% decline compared to last year. The company also repurchased shares and declared a $0.60 dividend per share.
