ARLO LAUNCHES STRATEGIC PARTNERSHIP WITH ALLSTATE

Rhea-AI Summary

Arlo Technologies has entered into a strategic partnership with Allstate to enhance home security solutions. This collaboration will see Arlo offering Allstate Protection Plans to its customers, extending product protection to three years for purchases made on Arlo's website. Arlo's CEO, Matthew McRae, emphasized the shared mission of both companies to provide peace of mind through innovative security offerings. Allstate Protection Plans will cover Arlo's range of security products, including cameras, video doorbells, and home security systems. Further details of the partnership will be revealed later this year.

Positive

• Strategic partnership with Allstate enhances product value.
• Extension of product protection plans to three years.
• Collaboration with a reputable insurance company like Allstate.

Negative

• None.

Industry Leaders with Common Mission to Protect Customers Collaborate to Deliver Added Peace of Mind Through DIY Smart Home Security Solutions

SAN JOSE, Calif., July 2, 2024 /PRNewswire/ -- Arlo Technologies, Inc. (NYSE: ARLO), a leading smart home security brand, announced today a strategic partnership agreement with Allstate. With a shared mission to deliver peace of mind to customers, Arlo and Allstate will collaborate to offer protection solutions that bring more value to Arlo customers and Allstate policyholders.

Kicking off the new partnership, Arlo will soon offer their customers Allstate Protection Plans for their Arlo.com purchases, enabling customers to extend protection to three years from date of purchase.

"Arlo and Allstate have a shared mission to protect what people care about the most, as well as a well-established history of driving innovation in the market that adds meaningful value for our customers," said Matthew McRae, CEO of Arlo Technologies. "We are excited to bring our teams together to make it even easier for customers to feel safe and secure through a seamless experience powered by our respective technology and service expertise."

Allstate Protection Plans offers product protection with seamless, award-winning service and support and are available for all of Arlo's award-winning DIY security products, including cameras, video doorbells, floodlights, and home security systems.

"People have an emotional attachment to their homes. It's their sanctuary and most valuable asset," said Suren Gupta, President, Protection Products and Enterprise Services, at Allstate. "With our shared commitment to protection, we look forward to working with Arlo to ensure our customers' peace of mind."

Additional details of Arlo's partnership with Allstate will be announced later this year. For more information on the full range of Arlo smart home security products and services, visit www.Arlo.com. For additional details on Allstate Protection Plans, visit, http://arlo.com/en-us/allstate-product-protection-plan.html.

About Arlo Technologies, Inc.
Arlo is an award-winning, industry leader that is transforming the ways in which people can protect everything that matters to them with advanced home, business, and personal security solutions. Arlo's deep expertise in AI- and CV-powered analytics, cloud services, user experience and product design, and innovative wireless and RF connectivity enables the delivery of a seamless, smart security experience for Arlo users that is easy to set up and interact with every day. Arlo's cloud-based platform provides users with visibility, insight, and a powerful means to help protect and connect in real-time with the people and things that matter most, from any location with a Wi-Fi or a cellular connection. Arlo has recently launched several categories of award-winning connected devices, software, and services. These include wire-free, smart Wi-Fi and LTE-enabled security cameras, video doorbells, floodlights, security system, and Arlo's subscription services: Arlo Secure and Arlo Safe.

With a mission to bring users peace of mind, Arlo is as passionate about protecting user privacy as it is about safeguarding homes and families. Arlo is committed to implementing industry standards for data protection designed to keep users' personal information private and in their control. Arlo provides enhanced controls for user data, supports privacy legislation, keeps user data safely secure, and puts security at the forefront of company culture.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. The words "anticipate," "expect," "believe," "will," "may," "should," "estimate," "project," "outlook," "forecast" or other similar words are used to identify such forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. The forward-looking statements represent Arlo Technologies, Inc.'s (the "Company" or "Arlo") expectations or beliefs concerning future events based on information available at the time such statements were made and include statements regarding lowering the barrier of entry and broadening the market for DIT security and Arlo cameras, Arlo video doorbells, Arlo Secure, Arlo Secure Plus, and future Arlo products. These statements are based on management's current expectations and are subject to certain risks and uncertainties, including the following: future demand for the Company's products may be lower than anticipated; consumers may choose not to utilize payment plans or to adopt the Company's new product offerings, or may adopt competing products; and product performance may be adversely affected by real-world operating conditions. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. Further information on potential risk factors that could affect Arlo and its business are detailed in the Company's periodic filings with the Securities and Exchange Commission, including, but not limited to, those risk factors described in the Company's most recently filed Annual Report on Form 10-K and Quarterly Report on Form 10-Q and subsequent filings with the Securities and Exchange Commission. Given these circumstances, you should not place undue reliance on these forward-looking statements. Arlo undertakes no obligation to release publicly any revisions to any forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

About Allstate Protection Plans
For over a decade, Allstate Protection Plans has transformed the extended warranty industry with service innovation and an obsessive focus on customer experience. Today, Allstate Protection Plans is trusted by over 140 million customers in addition to major retailers and mobile operators in North America, Europe, Japan, and Australia. Allstate Protection Plans is a wholly-owned subsidiary of The Allstate Corporation.

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SOURCE Arlo Technologies, Inc.

FAQ

What is the new partnership between Arlo and Allstate?

Arlo Technologies has partnered with Allstate to offer extended protection plans for Arlo's smart home security products.

When was the Arlo and Allstate partnership announced?

The partnership was announced on July 2, 2024.

What products will the Allstate Protection Plans cover for Arlo?

The protection plans will cover Arlo's security products, including cameras, video doorbells, floodlights, and home security systems.

How long is the extended protection under the new Arlo-Allstate partnership?

The extended protection is valid for three years from the date of purchase.

Where can I find more information about Arlo's products and the new protection plans?

More information can be found on Arlo's website at www.arlo.com and on the Allstate Protection Plan page at http://arlo.com/en-us/allstate-product-protection-plan.html.