NETGEAR, INC. Files 8-K for Other Event

TL;DR

NETGEAR filed an 8-K for an 'Other Event' on Aug 28. Details TBD.

AI Summary

On August 28, 2024, NETGEAR, INC. filed an 8-K report detailing an "Other Event." The filing does not provide specific details about the event itself but confirms the report was filed on September 11, 2024, with the earliest event date being August 28, 2024. The company is incorporated in Delaware and headquartered in San Jose, California.

Why It Matters

This filing indicates a material event has occurred for NETGEAR, INC. that requires disclosure to investors, though the specific nature of the event is not detailed in this summary.

Risk Assessment

Risk Level: low — The filing is a standard disclosure form without immediate financial implications or specific negative news.

Key Numbers

• 000-50350 — SEC File Number (Identifies the company's filing history with the SEC.)
• 77-0419172 — IRS Employer Identification Number (Company's tax identification number.)

Key Players & Entities

• NETGEAR, INC. (company) — Registrant
• August 28, 2024 (date) — Earliest event reported
• September 11, 2024 (date) — Filing date
• 350 East Plumeria Drive, San Jose, CA 95134 (location) — Principal executive offices

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value NTGR The Nasdaq Stock Mar
• $135 million — applicable, and NETGEAR has received a $135 million payment as consideration for the same.
• $170 million — the third quarter of 2024 to be between $170 million and $180 million, compared to prior gui
• $180 m — of 2024 to be between $170 million and $180 million, compared to prior guidance of $1
• $160 million — million, compared to prior guidance of $160 million to $175 million for the third quarter o
• $175 million — ed to prior guidance of $160 million to $175 million for the third quarter of 2024. The Q3
• $103.6 million — to report a net benefit before taxes of $103.6 million after backing out associated fees. Of t
• $10.9 million — ut associated fees. Of this amount: o $10.9 million is expected to be recorded as a reducti
• $92.7 million — offset actual fees incurred to date o $92.7 million is expected to be recorded as a contra-
• $8.2 million — Additionally, NETGEAR will reverse the $8.2 million contingent fee recorded in its second q
• $19.0 million — GAAP tax expense to be in the range of $19.0 million to $20.0 million, compared to prior gui
• $20.0 m — to be in the range of $19.0 million to $20.0 million, compared to prior guidance of $1
• $1.0 million — million, compared to prior guidance of $1.0 million to $2.0 million The full benefit of t
• $2.0 million — ed to prior guidance of $1.0 million to $2.0 million The full benefit of the settlement wi
• $1.0 m — x expense to be in the range of zero to $1.0 million, compared to prior guidance of a

Filing Documents

• ntgr-20240828.htm (8-K) — 90KB
• 0000950170-24-105550.txt ( ) — 211KB
• ntgr-20240828.xsd (EX-101.SCH) — 29KB
• ntgr-20240828_htm.xml (XML) — 4KB

01 Other Events

Item 8.01 Other Events. Litigation Settlement On August 28, 2024, NETGEAR, Inc. (the "Company") entered into a Settlement Agreement (the "Settlement Agreement") with TP-Link Systems Inc. ("TP-Link"), regarding all of their respective pending U.S. International Trade Commission and patent infringement disputes, and TP-Link's patent challenges and breach of contract claims. Consistent with the terms of the Settlement Agreement, all pending litigation between the parties will be dismissed or not further pursued, as applicable, and NETGEAR has received a $135 million payment as consideration for the same. Third Fiscal Quarter Ending September 29, 2024 Guidance Update The Company today provided an update to its business outlook for the third fiscal quarter ending September 29, 2024. The updated guidance reflects the above-referenced litigation settlement, as well as the earlier than anticipated launch of its next generation 5G mobile hotspot in the third quarter which was previously expected to occur in the fourth quarter of 2024. Driven by the earlier than anticipated launch of its latest 5G mobile hotspot, NETGEAR currently expects net revenue for the third quarter of 2024 to be between $170 million and $180 million, compared to prior guidance of $160 million to $175 million for the third quarter of 2024. The Q3 GAAP impact of the settlement is expected to be as follows: NETGEAR expects to report a net benefit before taxes of $103.6 million after backing out associated fees. Of this amount: o $10.9 million is expected to be recorded as a reduction in GAAP G&A expenses to offset actual fees incurred to date o $92.7 million is expected to be recorded as a contra-expense in litigation reserves, net within operating expenses which will more than offset the Company's total operating expenses for the quarter and lead to a significant GAAP operating profit Additionally, NETGEAR will reverse the $8.2 million contingent fee recorded in its second quarter of

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: September 11, 2024 NETGEAR, INC. By: /s/ Kirsten J. Daru Kirsten J. Daru General Counsel and Chief Privacy Officer