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Mar 28, 2021
Arlo Q1 2021 Earnings Report
Reported first quarter results, exceeding EPS guidance, delivering record GAAP and non-GAAP gross margin, and experiencing service revenue growth.
Key Takeaways
Arlo Technologies, Inc. reported a strong first quarter in 2021, marked by revenue growth, record gross margins, and significant progress in their services-focused business model. The company's revenue exceeded the high end of guidance, with a substantial year-over-year increase, and improvements in both GAAP and non-GAAP gross margins.
Revenue increased by 26.1% year over year, reaching $82.6 million.
GAAP gross profit increased by 552.8% year over year to $25.8 million.
Service revenue grew by 54.8% year over year, marking the seventh consecutive quarter of record service revenue, reaching $22.8 million.
Added a record 114,000 paid accounts in Q1, reflecting a 356.0% year-over-year increase.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Arlo anticipates revenue between $80.0 million and $90.0 million, GAAP net loss per diluted share between $(0.33) and $(0.26), and non-GAAP net loss per diluted share between $(0.20) and $(0.13) for the second quarter of 2021.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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