NETGEAR, INC. Files Q3 2024 10-Q Report
Ticker: NTGR · Form: 10-Q · Filed: Nov 1, 2024
Sentiment: neutral
Topics: 10-Q, financials, reporting
TL;DR
**NETGEAR Q3 2024 10-Q FILED. Check financials for latest performance.**
AI Summary
NETGEAR, INC. filed its 10-Q for the period ending September 29, 2024. The filing details financial performance and operational updates for the company, which is involved in the telecommunications equipment sector. Specific financial figures and business segment performances are outlined within the report.
Why It Matters
This filing provides investors and analysts with the latest financial health and operational status of NETGEAR, Inc., crucial for understanding its market position and future prospects.
Risk Assessment
Risk Level: medium — As a publicly traded company in the technology sector, NETGEAR faces inherent market, competition, and supply chain risks detailed in its SEC filings.
Key Players & Entities
- NETGEAR, INC. (company) — Filer of the 10-Q report
- 20240929 (date) — End of the reporting period
- 350 EAST PLUMERIA DRIVE, SAN JOSE, CA 95134 (address) — Company's business and mailing address
- 4089078000 (phone_number) — Company's business phone number
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the period ending September 29, 2024.
What is NETGEAR, INC.'s primary business address?
NETGEAR, INC.'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 for NETGEAR, INC. is 000-50350.
What is the Standard Industrial Classification code for NETGEAR, INC.?
The Standard Industrial Classification code for NETGEAR, INC. is 3661 (TELEPHONE & TELEGRAPH APPARATUS).
When was the company's fiscal year end?
The company's fiscal year end is December 31.
Filing Stats: 4,362 words · 17 min read · ~15 pages · Grade level 17.6 · Accepted 2024-11-01 16:25:35
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 par value NTGR The Nasdaq Stock Mar
Filing Documents
- ntgr-20240929.htm (10-Q) — 2974KB
- ntgr-ex10_1.htm (EX-10.1) — 1034KB
- ntgr-ex31_1.htm (EX-31.1) — 15KB
- ntgr-ex31_2.htm (EX-31.2) — 15KB
- ntgr-ex32_1.htm (EX-32.1) — 11KB
- ntgr-ex32_2.htm (EX-32.2) — 12KB
- img134573907_0.jpg (GRAPHIC) — 51KB
- img134573907_1.jpg (GRAPHIC) — 21KB
- img134573907_2.jpg (GRAPHIC) — 51KB
- img134573907_3.jpg (GRAPHIC) — 74KB
- img134573907_4.jpg (GRAPHIC) — 121KB
- img134573907_5.jpg (GRAPHIC) — 306KB
- 0000950170-24-120104.txt ( ) — 13827KB
- ntgr-20240929.xsd (EX-101.SCH) — 1295KB
- ntgr-20240929_htm.xml (XML) — 2557KB
: 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 8 Notes to Unaudited Condensed Consolidated Financial Statements 9 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
Signatures
Signatures 69 2 Table of Contents
: FINANC IAL INFORMATION
PART I: FINANC IAL INFORMATION
Financial Statements
Item 1. Financial Statements NETGEAR, INC. UNAUDITED CONDENSED CONS OLIDATED BALANCE SHEETS (In thousands) September 29, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 273,767 $ 176,717 Short-term investments 121,965 106,931 Accounts receivable, net of allowance for doubtful accounts of $ 417 and $ 338 as of September 29, 2024 and December 31, 2023, respectively 177,326 185,059 Inventories 161,976 248,851 Prepaid expenses and other current assets 34,302 30,421 Total current assets 769,336 747,979 Property and equipment, net 10,640 8,273 Operating lease right-of-use assets 30,758 37,285 Goodwill 36,279 36,279 Other non-current assets 15,623 17,326 Total assets $ 862,636 $ 847,142 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 52,035 $ 46,850 Accrued employee compensation 19,964 21,286 Other accrued liabilities 155,193 168,084 Deferred revenue 29,596 27,091 Income taxes payable 14,569 1,037 Total current liabilities 271,357 264,348 Non-current income taxes payable 8,510 12,695 Non-current operating lease liabilities 22,016 29,698 Other non-current liabilities 10,423 4,906 Total liabilities 312,306 311,647 Commitments and contingencies (Note 8) Stockholders' equity: Common stock 29 30 Additional paid-in capital 987,576 967,651 Accumulated other comprehensive income 152 136 Accumulated deficit ( 437,427 ) ( 432,322 ) Total stockholders' equity 550,330 535,495 Total liabilities and stockholders' equity $ 862,636 $ 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 Nine Months Ended Sept