Netgear Inc Stock Price, News & Analysis

NETGEAR has launched the Nighthawk AXE3000 WiFi 6E USB 3.0 Adapter (A8000), the first of its kind, aimed at upgrading PCs to the latest WiFi standards easily. This adapter enhances connectivity by allowing access to the exclusive 6GHz band, providing speeds of up to 1.2Gbps. The product offers a user-friendly plug-and-play experience, supporting all WiFi bands and compatible with any router. With a retail price of $89.99, it’s positioned as a cost-effective solution for gamers and regular users alike, ensuring maximum performance with NETGEAR's premium routers.

NETGEAR (NASDAQ: NTGR) expands its Meural digital canvases by integrating the Phantom wallet for Solana NFTs, allowing collectors to display their NFTs physically. This partnership aims to enhance the user experience by connecting the rapidly growing Solana ecosystem with Meural's art platform, facilitating a seamless display of digital art. Additionally, Meural canvases will be sold at the newly opened Solana Spaces in New York's Hudson Yards, dedicated to educating visitors about Web3 technologies.

NETGEAR (NASDAQ: NTGR) has announced a partnership with SuperRare, a unique NFT marketplace, marking its entry into the Web3 space. This collaboration aims to develop a licensing and royalty model for displaying NFTs on NETGEAR's Meural digital canvas. By acquiring $RARE tokens and joining the SuperRare DAO, NETGEAR seeks to empower artists and enhance the experience of digital art. The Meural platform already features over 30,000 licensed artworks and will showcase curated NFT collections as part of this initiative. This partnership embodies a shared vision to innovate in digital art engagement.

NETGEAR (NASDAQ: NTGR) reported Q2 2022 results with a net revenue of $223.2 million, down 27.7% year over year. The company faced a GAAP operating loss of $10.1 million compared to a profit of $21.5 million in the prior year. Despite these challenges, the SMB business achieved record revenue and the company noted double-digit growth in several product categories. Looking ahead, NETGEAR projects Q3 revenue between $240 million and $255 million, driven by strong demand and improving supply chain conditions, although uncertainties remain.

NETGEAR (NASDAQ: NTGR) has scheduled a conference call for investors on July 27, 2022, at 5:00 p.m. ET to discuss its Q2 2022 results and Q3 2022 outlook. The announcement of Q2 results will be made on the same day after market close. Interested parties can join the call by dialing (888) 660-6468 for domestic calls or (929) 201-5709 for international calls, with the conference ID of 1030183. A live webcast will be available on the NETGEAR Investor Relations website.

NETGEAR reported a net revenue of $210.6 million for Q1 2022, a decrease of 33.8% year-over-year. The company faced a GAAP operating loss of $58.5 million, significantly impacted by non-cash impairment charges. Non-GAAP operating loss was $9.3 million. Despite these challenges, NETGEAR achieved a 30.4% growth in paid subscribers, totaling 627,000. The CEO acknowledged ongoing supply chain issues due to COVID-19 but remains optimistic about their premium product offerings and revenue guidance for Q2, expecting revenue between $205 million and $220 million.

NETGEAR introduces new AV-over-IP products at the NAB trade show, enhancing its product line with the NETGEAR Engage™ Controller application and compact M4250 desktop models. These innovations simplify AV installations with an intuitive user interface, enabling efficient switch configurations for various applications, including corporate and educational settings. NETGEAR also celebrates over 150 Pro AV Technology Partners, validating its strong industry presence. The Engage Controller will be available for free download in Q3, alongside the new desktop models.

NETGEAR (NASDAQ: NTGR) has introduced the WAX615, a WiFi 6 AX3000 Dual-band Multi-Gig PoE Access Point, designed for small and medium-sized businesses. This innovative access point offers dual-band, high-speed performance with a maximum throughput of 3Gbps and advanced features like seamless roaming and load balancing. It is backward compatible with previous access points and includes a one-year free Insight subscription for management. Pricing starts at $189.99, making it a competitive solution for enhanced connectivity and security.

NETGEAR, Inc. (NASDAQ: NTGR) announced preliminary financial results for Q1 2022, expecting net revenue between $202 million and $212 million, a decline from prior guidance of $225 million to $240 million. The U.S. consumer WiFi market remained flat compared to 2019 levels, impacting revenue from their CHP business. Operating margins are expected to be significantly lower, with GAAP margins of (7.7)% to (6.7)% compared to earlier guidance of (1.5)% to (0.5)%. Full results will be announced on April 27, 2022.