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Who is the fraud, Unifi or Citron research?

Discussion in 'Networking' started by Patriot, Sep 18, 2017.

  1. Terry Kennedy

    Terry Kennedy Well-Known Member

    Jun 25, 2015
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    I'm probably going to regret wading into this... :rolleyes:
    Nothing new here. IKEA has been doing this for nearly 75 years.
    This has been done here in the US (and generally failed) - people may remember "MumbleCorp - a Diversified Corporation" and "FrobWorks - We don't make the stuff you buy - we make it better".

    As I said above "and generally failed". At one time Twinkies and ICBM guidance systems were made by the same company. Either the Chinese think they can do conglomerates better, or they haven't learned from our examples of failure.
  2. Dawg10

    Dawg10 Member

    Dec 24, 2016
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    Q1 update is out. The unaudited numbers are pretty much meaningless; going to have to wait for the auditors report. The near $600 million said to be held offshore raises both eyebrows. Again.

    Oh no! Some of the magic is gone... The initial and ongoing magic was the "Community", but maybe not so much, ever...

    Q: Okay. And then for my follow-on, in the 8-K filing this morning, it looks like you substantially reduced the number of registered users for the Ubiquiti community board from 4 million to 609,000. Could you help me align or help me understand the alignment between the number of registered users to how I should start thinking about the revenue, especially given that you are starting to deliver $1 billion in revenue?

    A: Yes, sounds like your shorts are getting nervous. So I don't think that number is really that critical of an observation. Our IR people mixed up user sessions and total users. But regardless, our user community is more engaged than ever. We have more stories, requests for more features, more -- just excitement overall. And if you compare it to, say, 2 or 3 years back, where our R&D wasn't executing at nearly as high a level, it's a huge improvement in my opinion in the quality of the community engagement.

    When asked: "Around engineering and the distributed model and access to talent and how that's going."

    The meat of the answer: "And you take something like AmpliFi. Now AmpliFi wasn't executed all that well. We could have done it a lot better, but it was a 7- or 8-person team. And I was just looking at something like the Android downloads. And we're -- it appears we're even selling at a higher clip than eero, which is a start-up company, which is incredible in my opinion because they have 200 employees and tens of millions of dollars of funding. And we have 8 guys and we stuck with our Ubiquiti business model blueprint and we've gotten incredible leverage.

    The Magic is back!! 8 guys out producing a competitor using 200!! Freaking Amazing!!

    RJP concludes: And we have to do a better job of selecting engineers that fit our culture. But as long as we can do that, I think the future is very bright.

    Cryptic at best; he already seems to be doing a beyond-World Class job with his few engineers. And what exactly is the UBNT culture? I can speculate on several fronts, none of them complimentary. Has anyone actually met a UBNT engineer? Seriously; I'd like to learn about the "culture".

    On product development: In addition, we believe we have a very good system now with UNMS and UMobile, where these new CPEs can be essentially cloned and deployed in the field within seconds or maybe a couple of minutes. And we're going to rally some evangelism around that is the plan in the next few months. And so I'm excited about that opportunity.

    It seems evangelism is still driving sales, even though his sales force has shrunk from 4 million to 609,000. Good thing he's excited... I wonder what the real numbers are? All of them.

    Here's a good one to close out Q&A:

    Q: Okay. And just a quick clarification on the guidance plans. Are you going to be giving full year targets and then just not giving quarterly guidance or is it still...

    A: Correct. So at the end of this fiscal year, we'll stop quarterly guidance. And from that point forward, we'll just be giving the next fiscal year guidance.


    Lets just answer questions once/year going forward.

  3. funkywizard

    funkywizard mmm.... bandwidth.

    Jan 15, 2017
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    Well, you've convinced me.

    Time to put my money where my mouth is.

  4. audio catalyst

    Jan 4, 2014
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    Again, you are here bashing ubnt, and not bringing news.
    Seems you're here to help your shorting friends..

    To put it bluntly : take a piss buddy !

    send from a mobile device, so typo's are to be expected :)
    BobbyB likes this.
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