NETGEAR, INC. Files 10-Q for Q2 2024
Ticker: NTGR · Form: 10-Q · Filed: Aug 2, 2024
Sentiment: neutral
Topics: 10-Q, financials, telecom-equipment
Related Tickers: NTGR
TL;DR
**NETGEAR 10-Q FILED: Financials for Q2 2024 are IN. Check the numbers.**
AI Summary
NETGEAR, INC. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the company, which is involved in the telecommunications equipment sector. Specific financial figures and operational metrics are provided within the report.
Why It Matters
This filing provides investors and analysts with the latest financial health and operational performance of NETGEAR, Inc., influencing investment decisions and market perception.
Risk Assessment
Risk Level: medium — The filing is a standard quarterly report, but the nature of the technology sector and its competitive landscape can introduce inherent risks.
Key Numbers
- N/A — Revenue (Specific revenue figures for the quarter are not detailed in the provided header information.)
- N/A — Net Income (Specific net income figures for the quarter are not detailed in the provided header information.)
- N/A — Earnings Per Share (Specific EPS figures for the quarter are not detailed in the provided header information.)
Key Players & Entities
- NETGEAR, INC. (company) — Filer of the 10-Q
- 350 EAST PLUMERIA DRIVE, SAN JOSE, CA 95134 (location) — Company's business and mailing address
- 20240630 (date) — End of the reporting period for the 10-Q
FAQ
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is 20240630, indicating the period ending June 30, 2024.
What is the company's primary business classification?
The Standard Industrial Classification is TELEPHONE & TELEGRAPH APPARATUS [3661].
Where is NETGEAR, INC. headquartered?
The company's business address is 350 EAST PLUMERIA DRIVE, SAN JOSE, CA 95134.
What is the SEC File Number for NETGEAR, INC.?
The SEC File Number is 000-50350.
When was the company incorporated?
The State of Incorporation is DE (Delaware).
Filing Stats: 4,403 words · 18 min read · ~15 pages · Grade level 16.9 · Accepted 2024-08-02 16:05:30
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 par value NTGR The Nasdaq Stock Mar
Filing Documents
- ntgr-20240630.htm (10-Q) — 2875KB
- ntgr-ex31_1.htm (EX-31.1) — 14KB
- ntgr-ex31_2.htm (EX-31.2) — 14KB
- ntgr-ex32_1.htm (EX-32.1) — 11KB
- ntgr-ex32_2.htm (EX-32.2) — 11KB
- 0000950170-24-089944.txt ( ) — 11749KB
- ntgr-20240630.xsd (EX-101.SCH) — 1285KB
- ntgr-20240630_htm.xml (XML) — 2654KB
: FINANCIAL INFORMATION
PART I: FINANCIAL INFORMATION Item 1.
Financial Statements
Financial Statements 3 Unaudited Condensed Consolidated Balance Sheets 3 Unaudited Condensed Consolidated Statements of Operations 4 Unaudited Condensed Consolidated Statements of Comprehensive Income (Loss) 5 Unaudited Condensed Consolidated Statements of Stockholders' Equity 6 Unaudited Condensed Consolidated Statements of Cash Flows 7 Notes to Unaudited Condensed Consolidated Financial Statements 8 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 27 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 37 Item 4.
Controls and Procedures
Controls and Procedures 37
: OTHER INFORMATION
PART II: OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 39 Item 1A.
Risk Factors
Risk Factors 39 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 67 Item 3. Defaults Upon Senior Securities 67 Item 4. Mine Safety Disclosures 67 Item 5. Other Information 67 Item 6. Exhibits 67
: FINANC IAL INFORMATION
PART I: FINANC IAL INFORMATION
Financial Statements
Item 1. Financial Statements NETGEAR, INC. UNAUDITED CONDENSED CONS OLIDATED BALANCE SHEETS (In thousands) June 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 177,104 $ 176,717 Short-term investments 117,235 106,931 Accounts receivable, net of allowance for doubtful accounts of $ 417 and $ 338 as of June 30, 2024 and December 31, 2023, respectively 147,069 185,059 Inventories 188,936 248,851 Prepaid expenses and other current assets 27,228 30,421 Total current assets 657,572 747,979 Property and equipment, net 11,041 8,273 Operating lease right-of-use assets 33,394 37,285 Goodwill 36,279 36,279 Other non-current assets 15,800 17,326 Total assets $ 754,086 $ 847,142 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 40,129 $ 46,850 Accrued employee compensation 23,966 21,286 Other accrued liabilities 159,586 168,084 Deferred revenue 28,682 27,091 Income taxes payable 665 1,037 Total current liabilities 253,028 264,348 Non-current income taxes payable 8,076 12,695 Non-current operating lease liabilities 24,748 29,698 Other non-current liabilities 8,835 4,906 Total liabilities 294,687 311,647 Commitments and contingencies (Note 8) Stockholders' equity: Common stock 29 30 Additional paid-in capital 980,069 967,651 Accumulated other comprehensive income (loss) ( 104 ) 136 Accumulated deficit ( 520,595 ) ( 432,322 ) Total stockholders' equity 459,399 535,495 Total liabilities and stockholders' equity $ 754,086 $ 847,142 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 3 Table of Contents NETGEAR, INC. UNAUDITED CONDENSED CONSOLIDA TED STATEMENTS OF OPERATIONS (In thousands, except per share data) Three Months Ended Six Months Ended June 3