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Jun 28, 2020
Arlo Q2 2020 Earnings Report
Exceeded revenue and EPS guidance, with service revenue growth of 53% year-over-year and maintained a strong cash position.
Key Takeaways
Arlo Technologies reported second-quarter results that exceeded expectations, driven by the success of its new business model and the launch of the Arlo Essential Spotlight Camera. The company saw record growth in registered and paid accounts, along with strong service revenue growth.
Revenue was $66.6 million, a decrease of 20.3% year-over-year.
GAAP net loss per diluted share was $(0.38); non-GAAP net loss per diluted share was $(0.31).
Added a record 43,000 paid accounts in Q2, a sequential increase of 72% over Q1.
Service revenue of $17.0 million for Q2, for growth of 52.7% year-over-year.
Revenue by Geographic Location
Forward Guidance
Arlo expects revenue between $85.0 million and $95.0 million and GAAP net loss per diluted share of $(0.41) to $(0.32) for Q3 2020.
Positive Outlook
- Revenue of $85.0 million to $95.0 million.
- Estimated adjustments for Stock-based compensation expense 0.08
- Non-GAAP net loss per diluted share of $(0.33) to $(0.24).
Challenges Ahead
- GAAP net loss per diluted share of $(0.41) to $(0.32).
- Uncertainty presented by the ongoing COVID-19 pandemic
- Business outlook does not include estimates for any currently unknown income and expense items
- litigation reserves, net
- acquisition-related charges
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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