NETGEAR, Inc. (NTGR) reported third-quarter 2024 non-GAAP earnings of 17 cents per share, which beat the Zacks Consensus Estimate of a loss of 4 cents. The company had reported non-GAAP earnings of 23 cents in the year-ago quarter. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar. NETGEAR generated net revenues of $182.9 million, beating the consensus estimate by 4.5%. The figure also beat the guidance of $170- $180 million. Revenues improved 27.1% sequentially. But the metric was do ...

NETGEAR, Inc. (NASDAQ:NTGR) Q3 2024 Results Conference Call October 30, 2024 5:00 PM ET Company Participants Erik Bylin - IR C.J. Prober - CEO Bryan Murray - CFO Conference Call Participants Adam Tindle - Raymond James Operator Ladies and gentlemen, thank you for standing by. [Operator Instructions] I would now like to turn the conference over to Erik Bylin. Please go ahead, sir. Erik Bylin Thank you. Good afternoon, and welcome to NETGEAR's Third Quarter of 2024 Financial Results Conference Call. Joining u ...

NETGEAR, Inc. (NTGR) came out with quarterly earnings of $0.17 per share, beating the Zacks Consensus Estimate of a loss of $0.04 per share. This compares to earnings of $0.23 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 525%. A quarter ago, it was expected that this company would post a loss of $0.82 per share when it actually produced a loss of $0.74, delivering a surprise of 9.76%. Over the last four quarters, the compa ...

Exhibit 99.1 NEWS RELEASE NETGEAR® REPORTS THIRD QUARTER 2024 RESULTS Q3 net revenue of $182.9 million, above the high end of guidance Achieved GAAP and non-GAAP profitability, above the high end of guidance Fifth consecutive quarter of free cash flow generation Added more than $100 million to cash and cash equivalents to end Q3 with $395.7 million SAN JOSE, California – October 30, 2024 - NETGEAR, Inc. (NASDAQ: NTGR), a global leader in intelligent networking solutions for businesses, homes, and service pr ...

NETGEAR, Inc. (NTGR) is strategically positioning itself to capitalize on the surging demand for robust networking solutions, fueled by the growing number of Internet-connected devices and the transition from older WiFi standards to the highly anticipated WiFi 7. The company is dedicated to maintaining its competitive edge through a series of product launches aligned with the new WiFi 7 standards. Expanding the WiFi 7 Portfolio NETGEAR recently made significant strides in expanding its Nighthawk WiFi 7 stan ...

Shares of NETGEAR Inc. (NTGR) have gained 37.6% year to date, outperforming its sub-industry, the Zacks Computer and Technology sector and the S&P 500 composite's growth of 4.8%, 24.2% and 21.1%, respectively. NTGR stock gained 1% in the last trading session and closed at $20.06, near its 52-week high of $22.62, attained on Sept. 13. YTD Performance Image Source: Zacks Investment Research The stock had an average run on the trading front for most of the year. However, the stock started climbing upward after ...

Core Viewpoint - NETGEAR, Inc. has expanded its Nighthawk WiFi 7 standalone router portfolio with the introduction of RS600, RS500, and RS200 models, aiming to meet the growing demand for advanced networking solutions as households transition to WiFi 7 technology [1][5]. Product Launch and Features - The new standalone WiFi 7 routers include RS600 priced at $499, RS500 at $399, and RS200 at $229, available on NETGEAR.com and gradually at other retailers [1] - These routers offer impressive speed, low latency, and high capacity, featuring patented omni-directional internal antennas for optimal signal range and 360-degree coverage [2] - Advanced encryption protocols and threat detection systems are utilized in the new routers, including WPA3 security, access control, automatic firmware updates, VPN support, and guest WiFi options [3] Security Features - The routers come with a 30-day trial of NETGEAR Armor, powered by Bitdefender, providing an additional layer of protection for connected devices [3][4] - Integrated Armor delivers real-time alerts for detected threats and personalized recommendations to enhance security and privacy [4] - NETGEAR Smart Parental Controls are included, allowing management of children's online time and promoting healthy online habits [4] Market Position and Financial Outlook - NETGEAR is capitalizing on the demand for robust networking solutions due to the increasing number of Internet-connected devices and the transition to WiFi 7, which offers speeds 2.4 times faster than previous standards [5] - The company recently raised its third-quarter 2024 revenue guidance to between $170 million and $180 million, up from the previous range of $160 million to $175 million, attributed to a litigation settlement and the early launch of a 5G mobile hotspot [9][10] - Despite the positive outlook, concerns remain regarding weak macroeconomic conditions and rising costs [10] Stock Performance - NETGEAR currently holds a Zacks Rank of 4 (Sell), with shares having gained 70.8% over the past year compared to the sub-industry's growth of 1.9% [11]

NETGEAR Inc. NASDAQ: NTGR manufactures a wide range of networking products for consumers and businesses worldwide. Its devices, including routers, switches, and modems, help to enhance internet connectivity. NTGR ▼ NETGEAR Today NETGEAR NETGEAR $21.36 -0.58 (-2.64%) 52-Week Range $10.40 $22.62 Price Target $15.00 Add to Watchlist The company has been around since the internet boom. It continues to provide reliable, high-performance networking products that enable seamless connectivity for a growing range of ...

NETGEAR, Inc. (NTGR) stock surged 30.8% yesterday and closed the session at $20.84. The stock rallied after the company announced an agreement with TP-Link Systems Inc., settling the companies' pending U.S. International Trade Commission and patent infringement litigation and TP-Link's breach of contract claims and patent challenges. NTGR has received a $135 million payment as consideration for resolving the litigation. As a result, all the legal disputes between the two parties will be dismissed per the te ...

Investment Thesis - NETGEAR provided positive guidance for the upcoming quarter and received a $90 million cash benefit from a legal settlement after fees and taxes [2] - The company is considered optically cheap with over 60% of its market cap consisting of cash and no debt [2] - The business is shrinking and largely unprofitable, but the financial position is strong [2] Business Overview - NETGEAR provides networking products for businesses and consumers, focusing on internet connectivity through devices like Wi-Fi routers, modems, and switches [3] - The company is expanding in two key areas: ProAV managed switches for enterprise customers and consumer Wi-Fi products for home use [3] - NETGEAR aims to offer a broader range of products at different price points while focusing on innovation [3] Litigation Update - NETGEAR settled legal disputes with TP-Link, receiving a $135 million payment [4] - After fees and taxes, the company will receive $90 million in cash, boosting its financial position [5] - The settlement also eliminates further legal costs and uncertainties [5] Financial Performance - NETGEAR expects a negative 11% year-over-year revenue growth for Q3 2024, marking the 12th consecutive quarter of revenue decline [6][7] - The company generated $16 million in free cash flow and executed $10 million in share repurchases in the last quarter [8] - NETGEAR exited the quarter with over $294 million in cash and expects to continue generating cash in the second half of 2024 [8] Valuation and Cash Position - NETGEAR's net cash position is estimated at 64% of its market cap, with $385 million in cash and marketable securities and no debt [8] - The company's market cap is close to $600 million with approximately 28.6 million shares outstanding [9] Operating Margin Guidance - NETGEAR revised its non-GAAP operating margin guidance for Q3 2024 from -11% to -8% to a range of -4% to -1% [8] - The improvement in operating margin is primarily driven by the legal settlement and expected revenue increase [8] Conclusion - NETGEAR has made progress with the $135 million settlement and increased cash reserves to $385 million, but the business remains largely unprofitable [10] - The company continues to struggle with declining revenue, projecting a negative 11% year-over-year revenue growth for Q3 2024 [10] - Despite improvements in non-GAAP operating margin guidance, much of the progress is linked to the settlement rather than operational improvements [11]