Arlo Q1: record service revenue $56.7M (+29% YoY); GAAP loss $(0.10), non-GAAP EPS $0.09

Arlo Technologies, Inc.

2024-Q1 EPS reported -$0.10 revenue$124,200,000

Record service revenue $56.7M (+29% YoY); ARR $227.0M (+24.3% YoY).
GAAP net loss per share $(0.10); non-GAAP EPS $0.09, up $0.08 YoY.
Record free cash flow $19.5M (15.7% FCF margin), more than doubling YoY.
Cumulative paid accounts 3.2M (+58.3% YoY); cash and investments $142.9M.
Extended Verisure partnership five years into 2029; Q2 guidance revenue $120-130M, non-GAAP EPS $0.06-0.12.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Arlo Technologies, Inc. reported first quarter ended March 31, 2024 results: revenue $124.2 million, EPS $(0.10). Guidance initiated.

Period: first quarter ended March 31, 2024
Revenue: $124.2 million
EPS: $(0.10)
Guidance: initiated
Result: reported results

Exact text from the filing

• Q1 total revenue of $124.2 million, an increase of 11.9% year over year. • Record Q1 service revenue of $56.7 million, growing 29.0% year over year. • Q1 GAAP services gross margin of 76.0% and non-GAAP services gross margin of 76.7%. • GAAP gross profit of $47.4 million, an increase of 34.5% year over year; non-GAAP gross profit of $48.9 million, an increase of 35.0% year over year. • GAAP gross margin of 38.1%; non-GAAP gross margin of 39.4%. • GAAP net loss per share of $(0.10); non-GAAP earnings per share of $0.09.

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Source: SEC EDGAR

accession 0001736946-24-000021

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