NETGEAR posts Q1 loss of $0.63/diluted share; Q2 revenue forecast $125-140M

NETGEAR, INC.

2024-Q1 EPS reported -$0.63 revenue$164,586,000

Q1 net revenue $164.6M, down 9% YoY; GAAP operating loss $21.6M (13.2% of revenue).
GAAP net loss per diluted share $0.63; non-GAAP net loss $0.28.
Service revenue up 21.2% YoY; cash from operations $17.2M (+88.4% YoY).
Q2 guidance: revenue $125-140M, GAAP operating margin (30.9%) to (27.9%).
Expects to expedite NFB/CHP destocking in Q2, headwind $25-30M to topline.

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