I've been using and selling Ubiquiti hardware for four or five years. I've seen the distribution in my region go from a few guys buying Ubiquiti hardware by the container to a proper authorised distribution channel with a major importer, resellers and retail stockists. There are at least tens of millions of dollars of Ubiquiti hardware in the channel here, and we're a country with only 24 million people. From my experience Ubiquiti hardware is extremely robust and reliable at a price that's an order of magnitude lower than you'd pay for any equivalent product - it has enterprise (maybe even carrier grade) reliability at a consumer price. I know guys in enterprise, industrial, and mining and agriculture that deploy Ubiquiti hardware because it's so reliable - you configure it then send it out, and it will still be there doing its job years later, sometimes in the harshest environments (I've heard of UBNT wifi equipment completely exposed and unprotected in mining sites with iron ore dust and 50°C temperatures that work reliably for years).
So from a product perspective, they have an extremely solid company base - they design and sell highly reliable products at a disruptive price. Now they're in the consumer retail space, selling the best consumer home network solution money can buy (Amplifi). They sell the highest performing MIMO wifi APs ideal for high density environments like shopping centres and stadiums (UAP-AC-HD). And then there's UNMS, which if you deploy and manage large networks, you need to check out. UNMS is free, forever, something the other network vendors charge thousands per year for. It will be game changing. From a product perspective they couldn't be stronger.
From a distribution perspective, in my own country about a year and a half ago they were picked up by a national distributor that has warehouses in every major city, will ship anywhere in the country, maintains good inventory levels, promotes every new product release to their distribution channel and even runs regular certified training programmes. And we're on the exact opposite side of the planet - I certainly can't speak for distribution in every country in the world, but I see no weakness in distribution here, just a company going from strength to strength.
So in terms of Ubiquiti's actual business (designing, manufacturing, selling and distributing network hardware) there's nothing not to like. They would basically have to completely mismanage their company and try very hard to wreck it, and considering how well they've been running it so far that would be completely out of character.
Regarding financial analysis, there are other analysts looking at this now - here's one example:
https://seekingalpha.com/article/4111349-ubiquiti-networks-sound-company-unorthodox-business-model
Ubiquiti is a high-quality company with a disruptive business model executing its strategy very well. We think current share price lies somewhere between bargain and fair value. Investors should understand what they are buying into with Ubiquiti Networks: If they can live with price volatility and the occasional hic-up due to ultra-thin layer of management baked into the business model we believe the business is sound and it offers a promising long-term investment opportunity.
I've also been doing my own financial investigation. Someone has taken a fairly hefty short against UBNT in the tens of millions. Since that was optioned, UBNT's stock has fared quite well, which must be frustrating for the shorters. This analysis by Left was released just before the analyst and investor day, which is extremely coincidental - presumably he was hoping to disrupt what is typically a bullish share response to these events. So far, despite him shoving this in every direction possible (including managing to get a spot on CNBC), that hasn't worked - the stock has remained stable and hasn't tanked as he and his associates would have hoped.
Personally, I'm really annoyed at the fact that someone like Left is trying to do this with a company not only making really great products, but doing so at disruptive pricing with a brave and highly efficient business structure. The world is a better place for the existence of UBNT, which is not only giving customers access to reliable network hardware that would otherwise be unattainable, but that helps economic recovery because everyone can stretch their dollars further, and poorer countries to build infrastructure at a time they desperately need access to information, education and telecommunications. I'm also highly annoyed that the SEC is utterly ineffective at controlling deliberate market manipulation like this - it shouldn't be up to UBNT to protect itself with tens of millions and a decade long law suit, this behaviour destabilises the market and should be classed as a criminal act for law enforcement to investigate.
But failing all that, what can we do? UBNT should just keep on doing great business, but the rest of us should show confidence in the face of misinformation. If UBNT's stock remains strong (and even grows) the shorters lose. The more the stock grows, the greater their loss. Wouldn't it be great to give them a good kicking? ;-)
Disclosure: I have no attachment nor vested interest in UBNT beyond using and selling their products. I own no stock, but maybe it's time I bought some...