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Sep 27, 2020
Arlo Q3 2020 Earnings Report
Exceeded revenue and EPS guidance with 104% GAAP gross profit growth year over year.
Key Takeaways
Arlo Technologies reported a strong third quarter, exceeding guidance in every measure. Revenue reached $110.2 million, a 3.9% increase year over year, driven by paid account growth and strong performance from European partner, Verisure. The company also made progress on gross margins and improved non-GAAP net loss by $16.3 million year over year.
Revenue of $110.2 million, an increase of 3.9% year over year.
GAAP gross profit $21.4 million, an increase of 104% year over year; non-GAAP gross profit $22.7 million, an increase of 100% year over year.
GAAP net loss per diluted share of $(0.22); non-GAAP net loss per diluted share of $(0.10).
Added a record 58,000 paid accounts in Q3, a sequential increase of 35% over Q2.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Arlo expects revenue between $105.0 million and $115.0 million for Q4 2020. GAAP net loss per diluted share is expected to be between $(0.36) and $(0.26), and non-GAAP net loss per diluted share is expected to be between $(0.26) and $(0.16).
Historical Earnings Impact
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Avg. Return Before/After Earnings
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