12:06 PM EST, 11/07/2025 (MT Newswires) -- Ubiquiti ( UI ) shares dropped more than 17% in recent trading on Friday after the company reported fiscal Q1 results, with non-GAAP earnings and revenue increasing from a year ago.

Revenue for the quarter decreased 3.3% sequentially.

The company reported fiscal Q1 non-GAAP earnings Friday of $3.46 per diluted share, up from $2.14 a year earlier.

A single analyst polled by FactSet expected $2.93.

Revenue for the quarter ended Sept. 30 was $733.8 million, up from $550.3 million a year earlier.

A single analyst surveyed by FactSet expected $702.4 million.

Price: 622.48, Change: -137.10, Percent Change: -18.05