Arlo beats Q2 revenue and non-GAAP EPS guidance; revenue up 48% YoY to $98.6M

Arlo Technologies, Inc.

2021-Q2 EPS reported -$0.42 revenue$181,127,000

Revenue of $98.6M, +47.9% YoY; non-GAAP EPS loss of $(0.04) beat high-end outlook.
Service revenue record $25.3M (+48.3% YoY); added 146K paid accounts in Q2, total 700K+.
GAAP gross margin 26.6%; non-GAAP gross margin 27.9%; cash $178.7M, no debt.
Sublease of San Jose office to save $3M-$4M per year starting Feb 2022; $9.1M non-cash impairment.
Q3 guidance: revenue $100M-$110M; non-GAAP net loss per share $(0.19)-$(0.12).

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