Netgear Inc Stock Price, News & Analysis

NETGEAR, Inc. (NASDAQ: NTGR) reported Q1 2023 results, highlighting a net revenue of $180.9 million, down 14.1% year-over-year. Despite this decline, GAAP operating loss improved to $12.0 million from $58.5 million in Q1 2022. The company achieved a non-GAAP gross margin of 33.6%, reflecting a 540 basis point year-over-year increase. Paid subscribers rose to 772,000, marking a 23.1% growth. CEO Patrick Lo noted the impact of inventory reductions by key partners but emphasized the resilience in premium product sales. The outlook predicts Q2 revenues between $150 million and $165 million, with anticipated operating margins of (13.4)% to (10.4)%.

NETGEAR, Inc. (NASDAQ: NTGR) will hold a conference call on April 26, 2023, at 5:00 p.m. ET to discuss its first quarter 2023 results and provide a second quarter 2023 business outlook. The news release with detailed financial results will be published after market close on the same day. Investors can join the call via a toll-free number (888) 660-6468 or internationally at (929) 201-5709, using conference ID 1030183. A webcast will also be available on the Investor Relations website. NETGEAR has been a leader in networking technologies for over 25 years, providing innovative solutions to connect homes and businesses globally.

Shapeways Holdings, Inc. (NYSE: SHPW) has appointed Christine Gorjanc to its Board of Directors, effective April 3, 2023. Gorjanc, a former Chief Financial Officer of NETGEAR, brings extensive financial expertise and experience in scaling technology companies. CEO Greg Kress expressed enthusiasm for Gorjanc's contributions in advancing Shapeways' growth initiatives within the digital manufacturing sector. Gorjanc will also serve on the Board's Audit Committee, where her qualifications as an Audit Committee Financial Expert will be utilized. Shapeways specializes in digital manufacturing, providing various solutions and enabling broad market adoption of additive manufacturing.

NETGEAR has launched the Nighthawk RS700 Router, the industry's first WiFi 7 router, boasting speeds up to 19Gbps. Designed for hyper-connected homes, it supports up to 200 devices and features a 10Gb internet port. The RS700 router is engineered for enhanced performance in high-demand applications like 4K streaming and online gaming, aided by cutting-edge antenna technology and built-in security features via NETGEAR Armor. Priced at $699.99, it will first be available on NETGEAR.com in Q2 2023.

NETGEAR (NASDAQ: NTGR) reported financial results for Q4 and fiscal 2022, revealing a net revenue of $249.1 million for Q4, a decrease of 0.8% year-over-year. For fiscal 2022, net revenue fell to $932.5 million, down 20.2%. The company posted a GAAP operating loss of $12.2 million in Q4 and $82.9 million for the year, marking significant declines from the previous year. Despite challenges, NETGEAR's SMB business saw record quarterly and annual growth, with a 29.9% rise in Q4 revenue. They gained 81,000 paid subscribers, totaling 747,000, with expectations to reach 875,000 by year-end 2023.

NETGEAR, a leader in networking technology, will host a conference call on February 1, 2023, at 5:00 p.m. ET to discuss its fourth quarter and full year 2022 results, along with the first quarter 2023 business outlook. The results will be released after market close on the same day. Investors can participate via a toll-free dial-in number and a live webcast available on NETGEAR's Investor Relations website. The company, headquartered in San Jose, California, has been providing innovative networking solutions for over 25 years, addressing the increasing demand for internet connectivity.

NETGEAR has launched the WAX220 WiFi 6 Access Point, designed for small businesses seeking affordable, efficient WiFi solutions. Priced at $199.99, this dual-band access point provides up to 4.2Gbps total WiFi throughput with a 2.5Gbps PoE port. It offers 100% more throughput compared to earlier WiFi 6 releases and supports four client connections, ensuring minimal congestion. The setup process requires approximately 10 minutes, making it highly accessible. The WAX220 is part of the Business Essentials line, further enhancing NETGEAR's commitment to small business networking needs.

NETGEAR, Inc. (NASDAQ: NTGR) will host a virtual financial analyst day on Thursday, December 1, 2022, from 11:00 a.m. to 1:00 p.m. ET. The executive team will share their vision for the company during this event. Interested parties can access the presentation via webcast on NETGEAR's IR website, with a replay available afterwards. As a leader in innovative networking solutions for over 25 years, NETGEAR provides advanced products for remote work, online gaming, and more.