Arlo Technologies Files Q2 2024 10-Q
Ticker: ARLO · Form: 10-Q · Filed: 2024-08-08T00:00:00.000Z
Sentiment: neutral
Topics: 10-Q, quarterly-report, financials
TL;DR
Arlo Tech's Q2 10-Q is in. Check financials for latest performance.
AI Summary
Arlo Technologies, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported financial results for the second quarter and the first half of the year. Key financial data and operational details are provided in this filing.
Why It Matters
This filing provides investors with the latest financial performance and operational status of Arlo Technologies, Inc., crucial for understanding the company's current health and future prospects.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing financial information and does not inherently present new risks.
Key Players & Entities
- Arlo Technologies, Inc. (company) — Filer
- 20240630 (date) — Period of Report
- 20240808 (date) — Filed as of Date
- 3651 (other) — Standard Industrial Classification
- DE (other) — State of Incorporation
- CARLSBAD (other) — City
- 92008 (other) — ZIP Code
- (408) 890-3900 (other) — Business Phone
FAQ
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is 20240630, meaning the filing covers the period ending June 30, 2024.
When was this 10-Q filing submitted to the SEC?
The filing was submitted on 20240808, and it was filed as of the same date.
What is Arlo Technologies, Inc.'s Standard Industrial Classification code?
Arlo Technologies, Inc. is classified under code 3651, which corresponds to HOUSEHOLD AUDIO & VIDEO EQUIPMENT.
In which state is Arlo Technologies, Inc. incorporated?
Arlo Technologies, Inc. is incorporated in Delaware (DE).
What is the business address of Arlo Technologies, Inc.?
The business address is 2200 FARADAY AVE., SUITE 150, CARLSBAD, CA 92008.
Filing Stats: 4,691 words · 19 min read · ~16 pages · Grade level 13.9 · Accepted 2024-08-08 16:16:25
Key Financial Figures
- $0.001 — ich registered Common Stock, par value $0.001 per share ARLO New York Stock Exchange
Filing Documents
- arlo-20240630.htm (10-Q) — 1090KB
- arlo-ex101_20240630.htm (EX-10.1) — 15KB
- arlo-ex311_20240630.htm (EX-31.1) — 11KB
- arlo-ex312_20240630.htm (EX-31.2) — 11KB
- arlo-ex321_20240630.htm (EX-32.1) — 6KB
- arlo-ex322_20240630.htm (EX-32.2) — 6KB
- 0001736946-24-000035.txt ( ) — 6288KB
- arlo-20240630.xsd (EX-101.SCH) — 41KB
- arlo-20240630_cal.xml (EX-101.CAL) — 73KB
- arlo-20240630_def.xml (EX-101.DEF) — 222KB
- arlo-20240630_lab.xml (EX-101.LAB) — 613KB
- arlo-20240630_pre.xml (EX-101.PRE) — 412KB
- arlo-20240630_htm.xml (XML) — 822KB
: FINANCIAL INFORMATION
PART I: FINANCIAL INFORMATION Page
Financial Statements
Item 1. Financial Statements 3 Unaudited Condensed Consolidated Balance Sheets 3 Unaudited Condensed Consolidated Statements of Comprehensive Loss 4 Unaudited Condensed Consolidated Statements of Stockholders' Equity 5 Unaudited Condensed Consolidated Statements of Cash Flows 6 Notes to Unaudited Condensed Consolidated Financial Statements 7
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 22
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 33
Controls and Procedures
Item 4. Controls and Procedures 33
: OTHER INFORMATION
PART II: OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 35
Risk Factors
Item 1A. Risk Factors 35
Other Information
Item 5. Other Information 35
Exhibits
Item 6. Exhibits 36
Signatures
Signatures 37 2 Table of Contents
: FINANCIAL INFORMATION
PART I: FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements ARLO TECHNOLOGIES, INC. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS As of June 30, 2024 December 31, 2023 (In thousands, except share and per share data) ASSETS Current assets: Cash and cash equivalents $ 62,928 $ 56,522 Short-term investments 81,077 79,974 Accounts receivable, net 61,746 65,360 Inventories 45,227 38,408 Prepaid expenses and other current assets 12,253 10,271 Total current assets 263,231 250,535 Property and equipment, net 3,771 4,761 Operating lease right-of-use assets, net 10,242 11,450 Goodwill 11,038 11,038 Restricted cash 3,624 4,131 Other non-current assets 3,900 3,623 Total assets $ 295,806 $ 285,538 LIABILITIES AND STOCKHOLDERS ' EQUITY Current liabilities: Accounts payable $ 74,084 $ 55,201 Deferred revenue 23,505 18,041 Accrued liabilities 80,024 88,209 Total current liabilities 177,613 161,451 Non-current operating lease liabilities 15,399 17,021 Other non-current liabilities 3,526 3,790 Total liabilities 196,538 182,262 Commitments and contingencies (Note 8) Stockholders' Equity: Preferred stock: $ 0.001 par value; 50,000,000 shares authorized; none issued or outstanding — — Common stock: $ 0.001 par value; 500,000,000 shares authorized; shares issued and outstanding: 98,326,212 at June 30, 2024 and 95,380,281 at December 31, 2023 98 95 Additional paid-in capital 487,644 470,322 Accumulated other comprehensive income 191 320 Accumulated deficit ( 388,665 ) ( 367,461 ) Total stockholders' equity 99,268 103,276 Total liabilities and stockholders' equity $ 295,806 $ 285,538 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 3 Table of Contents ARLO TECHNOLOGIES, INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS Three Months Ended Six Months Ended June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 (In thousands, except per share data) Revenue: Products $ 67,186 $ 64,749 $