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Jul 02, 2023
Arlo Q2 2023 Earnings Report
Reported revenue of $115 million, ARR ended at $194 million, and GAAP EPS of $(0.08).
Key Takeaways
Arlo Technologies reported strong Q2 2023 results, with revenue at the top end of the guidance range at $115 million. The acceleration of the services business drove outstanding results across key metrics, including a 66% year-over-year growth in ARR, which ended at $194 million. The company also reported a record non-GAAP EPS of $0.06 and a free cash flow of $12 million with a 10% margin.
Q2 total revenue was $115.1 million, a decrease of 3.3% year over year.
Record Q2 service revenue reached $50.3 million, growing 53.5% year over year.
ARR ended at $193.6 million, growing 66.1% year over year.
Added 245,000 paid accounts in Q2, ending with approximately 2.3 million cumulative paid accounts, growing 54.9% year over year.
Revenue by Geographic Location
Forward Guidance
Arlo expects revenue between $122 million and $132 million and non-GAAP net income per diluted share between $0.04 and $0.10 for Q3 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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