Revenue Performance - Record fourth quarter service revenue of $55.9 million, growing 45.9% year over year[1] - Total revenue for Q4 2023 was $135.1 million, an increase of 14.0% year over year[2] - Annual recurring revenue (ARR) ended at $210.1 million, growing 52.5% year over year[2] - Full year service revenue reached $201.2 million, growing 47.4% year over year[3] - Total revenue for the year ended December 31, 2023, was $491.176 million, a slight increase from $490.414 million in 2022[22] - Total revenue for the three months ended December 31, 2023, was $135,093,000, representing a 3% increase from $130,003,000 in the previous quarter[34] Profitability Metrics - GAAP net loss per share for the full year was $(0.24), while record non-GAAP EPS was $0.28[3] - Gross profit for the year was $167.563 million, resulting in a gross margin of 34.1%, compared to 27.7% in the previous year[22] - GAAP total gross profit for Q4 2023 was $47,349,000, up from $43,139,000 in Q4 2022, representing an increase of 5% year-over-year[27] - Non-GAAP gross profit for services in Q4 2023 was $41,620,000, compared to $37,810,000 in Q4 2022, reflecting a growth of 7.5%[27] - Non-GAAP net income for the twelve months ended December 31, 2023, was $27,824,000, an improvement from a loss of $5,876,000 in the previous year[32] Cash Flow and Liquidity - Full year free cash flow (FCF) was $35.5 million, with a FCF margin of 7.2%[1] - Cash and cash equivalents decreased to $60.653 million at the end of 2023, down from $88.179 million at the end of 2022[25] - Cash, cash equivalents, and short-term investments as of December 31, 2023, totaled $136,496,000, an increase from $126,049,000 in the previous quarter[33] - Free cash flow usage margin for the twelve months ended December 31, 2023, was 7.2%, compared to a margin of (9.8)% in the previous year[32] Subscriber and Account Growth - Cumulative paid accounts increased to 2.8 million, growing 51.1% year over year[2] - The company crossed the 3 million subscribers milestone earlier than projected[2] - Cumulative registered accounts reached 8,652,000 as of December 31, 2023, up from 8,193,000 in the previous quarter[33] Expenses and Liabilities - Operating expenses for the year were $192.466 million, consistent with $192.914 million in 2022[22] - Research and development expenses for the year were $68.647 million, up from $64.709 million in 2022[22] - The company’s total liabilities decreased to $182.262 million from $184.506 million in 2022[20] Future Outlook - First quarter 2024 revenue outlook is estimated between $117 million and $127 million[6] Other Financial Metrics - GAAP gross margin for Q4 was 35.0%, up from 33.2% in the previous quarter[4] - Non-GAAP gross margin for services reached 74.4% in Q4 2023, slightly up from 74.1% in Q3 2023[27] - GAAP income tax rate for Q4 2023 was 16.1%, compared to a negative rate of (2.7)% in Q3 2023[29] - Total GAAP operating expenses for the full year 2023 were $192,466,000, nearly flat compared to $192,914,000 in 2022[29] - GAAP operating loss narrowed to $(458,000) in Q4 2023 from $(2,276,000) in Q3 2023[29] - Non-GAAP operating income for Q4 2023 was $9,861,000, compared to $8,426,000 in Q3 2023, indicating a sequential increase of 17%[29] - The company reported a net loss of $22.036 million for the year, an improvement from a net loss of $56.626 million in 2022[25] - The company’s accounts receivable decreased slightly to $65.360 million from $65.960 million in the previous year[20] - Inventory turns improved to 7.6 for the three months ended December 31, 2023, compared to 5.5 in the previous quarter[33] - Deferred revenue (current and non-current) as of December 31, 2023, was $18,114,000, an increase from $17,706,000 in the previous quarter[33] - The Americas accounted for 64.2% of total revenue for the three months ended December 31, 2023, up from 61.5% in the previous quarter[34]

SAN JOSE, Calif.--(BUSINESS WIRE)--Arlo Technologies, Inc. (NYSE: ARLO), a leading smart home security brand, today announced that during the webcast and conference call with investors and analysts to be held on Thursday, February 29, 2024 at 5:00 p.m. ET (2:00 p.m. PT), the Company will provide a slide presentation focused on a detailed strategic overview and update to its long-term financial outlook in addition to discussing fourth quarter and full year 2023 results. During the event, Arlo management will ...

With the U.S. economy and jobs market running on all cylinders, the concept of targeting stocks to buy under $15 specifically to overcome the February blues might appear unnecessary. Again, most of the key fundamental metrics point toward the northward direction. Let’s not also forget that we avoided a recession last year.Still, like an antagonist in a horror film that might not have expired yet, it pays to be prepared: there could be one last jump scare. Further, with all that has transpired in the economy ...

SAN JOSE, Calif., Feb. 2, 2024 /PRNewswire/ -- Arlo Technologies, Inc. (NYSE: ARLO), a leading smart home security brand, today announced that it had made equity grants to new employees under its 2018 Equity Incentive Plan (the "Plan") in accordance with NYSE Rule 303A.08. On February 1, 2024, Arlo's Compensation and Human Capital Committee granted restricted stock units, or RSUs, to twenty-four new non-executive employees covering an aggregate of 213,874 shares of the Company's common stock as an inducemen ...

Arlo Technologies, Inc. (NYSE:ARLO) Q3 2023 Earnings Conference Call November 9, 2023 5:00 PM ET Company Participants Tahmin Clarke - Investor Relations Matthew McRae - Chief Executive Officer Kurt Binder - Chief Financial Officer Conference Call Participants Scott Searle - MKM Jacob Stephan - Lake Street Adam Tindle - Raymond James Hamed Khorsand - BWS Operator Ladies and gentlemen, thank you for standing by. At this time, all participants are in a listen-only mode. [Operator Instructions]. I would now lik ...

Q3 2023 Investor Presentation Safe Harbor Disclosure This presentation contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. The words "anticipate," "expect," "believe," "will," "may," "should," "estimate," "project," "outlook," "forecast" or other similar words are used to identify such forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. The forward-looking statements repres ...

Arlo Technologies, Inc. (NYSE:ARLO) Q2 2023 Earnings Conference Call August 10, 2023 5:00 PM ET Corporate Participants Erik Bylin - Investor Relations Matthew McRae - Chief Executive Officer Kurt Binder - Chief Financial Officer Conference Call Participants Hamed Khorsand - BWS Jacob Stephan - Lake Street Jake Norrison - Raymond James Operator Ladies and gentlemen, thank you for standing by. At this time, all participants are in a listen-only mode. [Operator Instructions]. I would now like to turn the confe ...

Arlo Technologies, Inc. (NYSE:ARLO) Q1 2023 Earnings Conference Call May 11, 2023 5:00 PM ET Company Participants Erik Bylin - IR Matthew McRae - CEO Kurt Binder - CFO Conference Call Participants Jacob Stephan - Lake Street Adam Tindle - Raymond James Hamed Khorsand - BWS Financial Operator Ladies and gentlemen, thank you for standing by. At this time, all participants are in a listen-only mode. Later we will conduct a question-and-answer session. [Operator Instructions] I would now like to turn the confer ...

Q4 2022 Investor Presentation Safe Harbor Disclosure This presentation contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. The words "anticipate," "expect," "believe," "will," "may," "should," "estimate," "project," "outlook," "forecast" or other similar words are used to identify such forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. The forward-looking statements repres ...

Arlo Technologies, Inc. (NYSE:ARLO) Q4 2022 Earnings Conference Call March 7, 2023 5:00 PM ET Company Participants Erik Bylin - IR Matthew McRae - CEO Kurt Binder - CFO Conference Call Participants Jacob Stephan - Lake Street Capital Markets Jake Norrison - Raymond James Hamed Khorsand - BWS Financial Operator Ladies and gentlemen, thank you standing by. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. [Operator Instructions] I would now like to ...