NETGEAR Q3 revenue down 14% YoY to $249.6M; GAAP operating loss; guides Q4 $235-250M

NETGEAR, INC.

2022-Q3 EPS reported -$2.17 revenue$683,369,000

Q3 net revenue $249.6M, down 14% YoY; GAAP EPS $0.10 vs $0.31; non-GAAP EPS $0.21 vs $0.50.
GAAP operating loss of $2.2M vs income of $12.9M YoY; non-GAAP operating income $1.8M vs $19.5M.
SMB business record revenue up 21% YoY; retail channel partners reducing inventories.
Q4 guidance: revenue $235-250M; GAAP op margin (4.2%)-(3.2%); non-GAAP (2.0%)-(1.0%).
Supply constraints and FX headwinds; expects supply improvement in 2023.

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