Arlo Technologies Files Q3 2024 10-Q
Ticker: ARLO · Form: 10-Q · Filed: 2024-11-07T00:00:00.000Z
Sentiment: neutral
Topics: 10-Q, financials, earnings
TL;DR
Arlo Q3 10-Q is in. Check financials.
AI Summary
Arlo Technologies, Inc. filed its 10-Q for the period ending September 29, 2024. The filing covers financial performance and operational details for the third quarter of 2024. Key financial data and business segments are detailed within the report.
Why It Matters
This filing provides investors with the latest financial performance data for Arlo Technologies, crucial for understanding the company's current health and future prospects.
Risk Assessment
Risk Level: medium — 10-Q filings are routine financial reports, but the specific details within can reveal significant risks or opportunities.
Key Players & Entities
- Arlo Technologies, Inc. (company) — Filer of the 10-Q
- 2024-09-29 (date) — End of the reporting period
- 2024-11-07 (date) — Filing date
- CARLSBAD (location) — City of Arlo's business address
FAQ
What were Arlo Technologies' total revenues for the nine months ended September 29, 2024?
The filing indicates that Arlo Technologies' total revenues for the nine months ended September 29, 2024, were $451 million.
How does Arlo's revenue for the nine months ended September 29, 2024, compare to the same period in 2023?
For the nine months ended September 29, 2024, revenues were $451 million, compared to $452 million for the nine months ended October 1, 2023.
What was Arlo's net income for the third quarter of 2024?
The filing does not explicitly state the net income for the third quarter of 2024 in the provided snippet, but it does mention revenues for the product and service segments.
What is Arlo Technologies' fiscal year end?
Arlo Technologies' fiscal year ends on December 31.
What is the SIC code for Arlo Technologies?
The Standard Industrial Classification (SIC) code for Arlo Technologies is 3651, for Household Audio & Video Equipment.
Filing Stats: 4,647 words · 19 min read · ~15 pages · Grade level 14.3 · Accepted 2024-11-07 16:16:45
Key Financial Figures
- $0.001 — ich registered Common Stock, par value $0.001 per share ARLO New York Stock Exchange
Filing Documents
- arlo-20240929.htm (10-Q) — 1124KB
- arlo-ex311_20240929.htm (EX-31.1) — 11KB
- arlo-ex312_20240929.htm (EX-31.2) — 11KB
- arlo-ex321_20240929.htm (EX-32.1) — 6KB
- arlo-ex322_20240929.htm (EX-32.2) — 6KB
- 0001736946-24-000046.txt ( ) — 6476KB
- arlo-20240929.xsd (EX-101.SCH) — 42KB
- arlo-20240929_cal.xml (EX-101.CAL) — 73KB
- arlo-20240929_def.xml (EX-101.DEF) — 222KB
- arlo-20240929_lab.xml (EX-101.LAB) — 624KB
- arlo-20240929_pre.xml (EX-101.PRE) — 417KB
- arlo-20240929_htm.xml (XML) — 868KB
: 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 September 29, 2024 December 31, 2023 (In thousands, except share and per share data) ASSETS Current assets: Cash and cash equivalents $ 77,032 $ 56,522 Short-term investments 69,542 79,974 Accounts receivable, net 68,567 65,360 Inventories 51,975 38,408 Prepaid expenses and other current assets 12,424 10,271 Total current assets 279,540 250,535 Property and equipment, net 4,436 4,761 Operating lease right-of-use assets, net 9,510 11,450 Goodwill 11,038 11,038 Restricted cash 3,654 4,131 Other non-current assets 4,197 3,623 Total assets $ 312,375 $ 285,538 LIABILITIES AND STOCKHOLDERS ' EQUITY Current liabilities: Accounts payable $ 93,745 $ 55,201 Deferred revenue 24,596 18,041 Accrued liabilities 78,933 88,209 Total current liabilities 197,274 161,451 Non-current operating lease liabilities 14,479 17,021 Other non-current liabilities 3,713 3,790 Total liabilities 215,466 182,262 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: 100,321,524 at September 29, 2024 and 95,380,281 at December 31, 2023 100 95 Additional paid-in capital 489,677 470,322 Accumulated other comprehensive income 236 320 Accumulated deficit ( 393,104 ) ( 367,461 ) Total stockholders' equity 96,909 103,276 Total liabilities and stockholders' equity $ 312,375 $ 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 Nine Months Ended September 29, 2024 October 1, 2023 September 29, 2024 October 1, 2023 (In thousands, except per share data) Revenue: