Arlo Technologies Stock Price, News & Analysis

Arlo Technologies reported Q2 2024 results with record service revenue of $60.3 million, a 19.7% YoY increase. The company posted a GAAP net loss per share of $(0.12) and a non-GAAP net income per share of $0.10. Annual recurring revenue (ARR) reached $235.0 million, up 21.4% YoY. Arlo achieved a free cash flow of $25.6 million with a 10.2% margin for H1 2024.

The company surpassed 4 million subscribers in July 2024. CEO Matthew McRae highlighted the 76% non-GAAP gross margin of the service business, which now accounts for nearly 50% of total revenue. Total Q2 revenue was $127.4 million, an increase of 10.8% YoY, with a GAAP gross margin of 36.8% and non-GAAP gross margin of 37.9%.

The business outlook for Q3 2024 projects revenue between $132 and $142 million, with non-GAAP net income per share of $0.08 to $0.14. The company also announced a strategic partnership with Allstate in July 2024.

Arlo Technologies (NYSE: ARLO), a leading smart home security brand, has announced equity grants to new employees under its 2018 Equity Incentive Plan, in compliance with NYSE Rule 303A.08. On July 29, 2024, the company's Compensation and Human Capital Committee granted restricted stock units (RSUs) to 18 new non-executive employees, covering a total of 257,540 shares of common stock.

The RSU grants are structured as follows:

• 17 employees received RSUs covering 157,540 shares, vesting annually in four equal installments
• 1 employee received RSUs covering 100,000 shares, vesting annually over five years with varying percentages

All RSUs are contingent on continued employment with Arlo Technologies at the applicable vesting dates.

Arlo Technologies (NYSE: ARLO), a leading smart home security brand, has announced its upcoming second quarter 2024 results conference call. The call is scheduled for Thursday, August 8, 2024, at 5:00 p.m. ET (2:00 p.m. PT). Investors and analysts can participate in the live audio call using the toll-free number (833) 470-1428 for domestic callers or (404) 975-4839 for international callers, with the conference ID 838472.

The company will release its Q2 2024 results after market close on August 8, 2024. A live webcast of the conference call will be available on Arlo's Investor Relations website, and a replay will be accessible afterward at http://investor.arlo.com.

Arlo Technologies announced on July 9, 2024, that their AI-powered subscription service has exceeded 4 million paid accounts. This growth highlights the value consumers place on Arlo's subscription plans and overall service. CEO Matthew McRae stated that Arlo will continue to invest in AI and SaaS platforms, introducing new features to enhance their market leadership.

Arlo's subscription plans, starting at $7.99 per month, offer 30 days of secure cloud storage, smart notifications, advanced object detection, and more. The top-tier plan, Safe & Secure Pro, includes 24/7 professional monitoring and emergency response. Other features include family safety tracking, crash detection, and 4K cloud-based video recording.

Arlo plans to release new service plans with advanced AI features later this year.

Arlo Technologies has entered into a strategic partnership with Allstate to enhance home security solutions. This collaboration will see Arlo offering Allstate Protection Plans to its customers, extending product protection to three years for purchases made on Arlo's website. Arlo's CEO, Matthew McRae, emphasized the shared mission of both companies to provide peace of mind through innovative security offerings. Allstate Protection Plans will cover Arlo's range of security products, including cameras, video doorbells, and home security systems. Further details of the partnership will be revealed later this year.

Arlo Technologies, Inc. reported strong financial results for Q1 2024, with record service revenue of $56.7 million, ARR reaching $227.0 million, and FCF of $19.5 million. GAAP net loss per share was $(0.10), while non-GAAP EPS was $0.09. The company extended its Verisure partnership till 2029. Q1 total revenue was $124.2 million, up 11.9% YoY. Arlo aims for 10 million paid accounts, $700 million ARR, and 25% non-GAAP operating margins.

Arlo Technologies, Inc. (NYSE: ARLO) renewed its strategic partnership with Verisure, a leading provider of security solutions in Europe, until 2029. Arlo will supply cloud platform services, AI solutions, and innovative products to support Verisure's retail and direct security channels with over 5M customers in Europe and Latin America. The partnership aims to deliver top-notch security solutions to customers across Europe.

Arlo Technologies, Inc. (NYSE: ARLO) has been honored with a Gold Stevie® Award in the Innovation of the Year - Consumer Products Industries category at The 22nd Annual American Business Awards®. Arlo stood out for its exceptional business achievements in 2023, surpassing 2 million paid subscribers, launching new products, and earning numerous awards and accolades.

Arlo Technologies, Inc. announced equity grants to new employees under its 2018 Equity Incentive Plan in accordance with NYSE Rule 303A.08. The grants include restricted stock units (RSUs) and performance-vesting RSUs (PSUs) for sixteen non-executive employees, totaling 591,439 shares of common stock. RSUs vest annually in four or five years, while PSUs vest based on achieving incremental paid subscribers. The grants are subject to continued employment.