Earnings ·
Arlo Reports Q3 Revenue of $149.2M and Authorizes $100M Share Repurchase Program
ARLOArlo Technologies, Inc.
Arlo Technologies reported third-quarter revenue of $149.2 million, with subscriptions and services revenue reaching a record $96.0 million, up 20% year over year. The company posted GAAP net income of $0.9 million ($0.01 per share) and adjusted EBITDA of $27 million, representing an 18% margin. Annual recurring revenue grew 14% to $370 million, while cumulative paid accounts increased 23% to 6.6 million. Additionally, the board authorized a new stock repurchase program of up to $100 million through December 2028. Arlo Technologies operates in the smart home security industry, providing connected devices and cloud-based subscription services.