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Mar 31, 2024
Arlo Q1 2024 Earnings Report
Arlo reported a strong start to the year with record service revenue and free cash flow, driven by an innovative product portfolio and growing services offering.
Key Takeaways
Arlo Technologies reported strong Q1 2024 results, with a record service revenue of $56.7 million, a record free cash flow of $19.5 million, and an increase in total revenue of 11.9% year over year. The company's ARR reached $227 million, and cumulative paid accounts grew to 3.2 million.
Total revenue reached $124.2 million, up 11.9% year over year.
Service revenue hit a record $56.7 million, a 29.0% increase year over year.
Free cash flow reached a record $19.5 million with a 15.7% margin.
ARR ended the quarter at $227.0 million, growing 24.3% year over year.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Arlo expects revenue between $120 million and $130 million and non-GAAP net income per diluted share between $0.06 and $0.12 for the second quarter of 2024.
Positive Outlook
- Revenue between $120 million and $130 million
- Non-GAAP net income per diluted share between $0.06 and $0.12
Challenges Ahead
- GAAP net loss per share between $(0.11) and $(0.05)
Historical Earnings Impact
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Avg. Return Before/After Earnings
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