Īrlo is the award-winning, industry leader that is transforming the way people experience the connected lifestyle. A replay of the call will be available via the web at. A live webcast of the conference call will be available on Arlo’s Investor Relations website at. The conference ID for the call is 7749064. The international dial-in number for the live audio call is +1 (929) 203-1909. The toll-free dial-in number for the live audio call is (888) 660-6387. Investor Conference Call / Webcast DetailsĪrlo will review the first quarter 2023 results and discuss management’s expectations for the second quarter of 2023 today, Thursday, at 5:00 p.m. New material income and expense items such as these could have a significant effect on our guidance and future results. Recurring paid service revenue represents the revenue we recognized from our paid accounts and excludes prepaid service revenue and non-recurring engineering (NRE) service revenue from strategic partners.Ī reconciliation of our business outlook on a GAAP and non-GAAP basis is provided in the following table:Įstimated adjustment for stock-based compensation and other expenseīusiness outlook does not include estimates for any currently unknown income and expense items which, by their nature, could arise late in a quarter, including: litigation reserves, net impairment charges discrete tax benefits or detriments relating to tax windfalls or shortfalls from equity awards and any additional impacts relating to the implementation of U.S. Reconciliation of financial measures computed on a GAAP basis to the most directly comparable financial measures computed on a non-GAAP basis is provided at the end of this press release.ĪRR is calculated by taking our recurring paid service revenue for the last calendar month in the fiscal quarter, multiplied by 12 months. Free cash flow margin is the free cash flow divided by revenue. Non-GAAP Net Income (Loss) per Diluted (Basic) Share (2)įree cash flow is calculated as net cash provided by (used in) operating activities less capital expenditures. GAAP net loss per share of $(0.16) non-GAAP earnings per diluted share of $0.01.Įnding cash and cash equivalents and short-term investments balance of $118.7 million, with free cash flow margin of 8.5% in Q1. Record Q1 GAAP services gross margin of 73.3% non-GAAP services gross margin of 73.5%. GAAP gross profit of $35.2 million with gross margin of 31.7% non-GAAP gross profit of $36.2 million with gross margin of 32.6%. ![]() Record Q1 service revenue of $43.9 million, growing 46.8% year over year.Įnded the quarter with ARR (3) of $182.6 million, growing 80.2% year over year.Īdded 182,000 paid accounts in Q1, ending cumulative paid accounts over 2.0 million, growing 60.7% year over year. Q1 total revenue of $111.0 million, a decrease of 11.0% year over year. ![]() “Our recurring services revenue is at the heart of this performance and, with best-in-class products and new offerings like our security system and Arlo Safe, we are poised to continue our strong trajectory.” Fueled by our subscription business that reached record revenue and gross margin, Arlo delivered non-GAAP operating income of $1.2 million and produced free cash flow of $9 million,” said Matthew McRae, Chief Executive Officer of Arlo Technologies. In the face of an uncertain consumer backdrop, we delivered revenue and earnings above guidance as our pricing strategy began to pay dividends. ![]() “Our Q1 results give Arlo a strong start to 2023 and our outlook for the first half remains robust. (NYSE: ARLO), a leading smart home security brand, today reported financial results for the first quarter ended April 2, 2023.
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