Arlo Technologies Inc · Q3 2021 earnings

Briefing

Reported revenue of $111.1 million, an increase of 0.8% year over year, and non-GAAP EPS both came in above the high end of guidance range.

Arlo Technologies, Inc. reported financial results for the third quarter ended October 3, 2021. Revenue reached $111.1 million, a 0.8% increase year over year. The company added a record 182,000 paid accounts, a 214% year over year increase, surpassing 900,000 total paid accounts. Service revenue was a record $27.0 million, up 42% year over year, with a non-GAAP service gross margin of 59.5%.

• Revenue of $111.1 million, an increase of 0.8% year over year.
• GAAP gross profit of $24.3 million, an increase of 13.7% year over year; non-GAAP gross profit of $25.1 million, an increase of 10.7% year over year.
• Service revenue of $27.0 million for Q3, for growth of 42.4% year over year.
• Added a record 182,000 paid accounts in Q3, a year over year increase of 213.8%.

Headline financials

Revenue & EPS history

Arlo provided guidance for Q4 2021, including revenue between $130.0 million and $140.0 million, GAAP net loss per diluted share between $(0.16) and $(0.09), and non-GAAP net loss per diluted share between $(0.07) and $0.00.