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Dec 31, 2023
Arlo Q4 2023 Earnings Report
Reported record service revenue and GAAP net earnings per diluted share (EPS) in Q4 2023.
Key Takeaways
Arlo Technologies reported a solid Q4 2023 with a 14% revenue increase and over 50% ARR growth compared to the previous year. The company achieved record non-GAAP earnings of $0.11 per share and its first-ever profit on a GAAP basis.
Total revenue reached $135.1 million, a 14.0% increase year over year.
Service revenue hit a record of $55.9 million, growing 45.9% year over year.
GAAP net earnings per diluted share reached a record of $0.01, with a non-GAAP EPS of $0.11.
Cumulative paid accounts increased to 2.8 million, growing 51.1% year over year.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Arlo anticipates revenue between $117 million and $127 million and a GAAP net loss per diluted share between $(0.08) and $(0.02) for Q1 2024. Non-GAAP net income per diluted share is expected to be between $0.05 and $0.11.
Positive Outlook
- Revenue is projected to be between $117 million and $127 million.
- Non-GAAP net income per diluted share is expected to be positive, ranging from $0.05 to $0.11.
Challenges Ahead
- GAAP net loss per diluted share is forecasted to be between $(0.08) and $(0.02).
Historical Earnings Impact
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Avg. Return Before/After Earnings
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