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Arlo Technologies, Inc. reported strong financial results for Q1 2024, with record service revenue of $56.7 million, ARR reaching $227.0 million, and FCF of $19.5 million. GAAP net loss per share was $(0.10), while non-GAAP EPS was $0.09. The company extended its Verisure partnership till 2029. Q1 total revenue was $124.2 million, up 11.9% YoY. Arlo aims for 10 million paid accounts, $700 million ARR, and 25% non-GAAP operating margins.
Arlo Technologies, Inc. (NYSE: ARLO) renewed its strategic partnership with Verisure, a leading provider of security solutions in Europe, until 2029. Arlo will supply cloud platform services, AI solutions, and innovative products to support Verisure's retail and direct security channels with over 5M customers in Europe and Latin America. The partnership aims to deliver top-notch security solutions to customers across Europe.
Arlo Technologies, Inc. (NYSE: ARLO) has been honored with a Gold Stevie® Award in the Innovation of the Year - Consumer Products Industries category at The 22nd Annual American Business Awards®. Arlo stood out for its exceptional business achievements in 2023, surpassing 2 million paid subscribers, launching new products, and earning numerous awards and accolades.
Arlo Technologies, Inc. announced equity grants to new employees under its 2018 Equity Incentive Plan in accordance with NYSE Rule 303A.08. The grants include restricted stock units (RSUs) and performance-vesting RSUs (PSUs) for sixteen non-executive employees, totaling 591,439 shares of common stock. RSUs vest annually in four or five years, while PSUs vest based on achieving incremental paid subscribers. The grants are subject to continued employment.
