NETGEAR, Inc. - NTGR STOCK NEWS

NETGEAR (NASDAQ: NTGR) has announced the next generation of NETGEAR Armor, a comprehensive cybersecurity service powered by Bitdefender. The enhanced service, available on Orbi mesh systems and Nighthawk routers, offers protection for IoT and mobile devices both on home networks and on the go.

According to the 2024 IoT Security Landscape Report, home network devices face an average of 10 attacks every 24 hours. The service includes automatic device scanning, vulnerability detection, and threat monitoring. A new tier, Armor Plus, has been introduced at $149.99 per year, offering unlimited VPN for up to 50 devices, along with Adblocking and Anti-tracking features.

The standard Armor subscription remains at $99.99 annually and now includes extended warranty and 24/7 priority tech support. The service has been recognized by AV Comparatives as a leader in router security, particularly for protection against denial of service and brute force attacks.

NETGEAR has announced the launch of the Orbi 870 Series Mesh System, the latest addition to its WiFi 7 home networking portfolio. The Orbi 870 is designed to deliver high-performance mesh networking, ensuring exceptional speeds, reduced latency, and ample capacity for up to 150 connected devices. It supports activities such as streaming ultra-high-definition content, remote work, and online gaming.

The Orbi 870 joins the existing Orbi 770 and Orbi 970 series, offering users options based on their specific needs. The Orbi 870 features WiFi 7 Tri-Band technology with combined speeds of up to 21 Gbps, coverage up to 9,000 sq. ft., and multiple multi-gig Ethernet ports. It also includes NETGEAR's Advanced Router Protection for enhanced security.

The Orbi 870 series is available in black or white and can be purchased on NETGEAR.com and other major retailers. Pricing starts at $999.99 for a 2-pack (Router and 1 Satellite) and $1299.99 for a 3-pack (Router and 2 Satellites).

NETGEAR (NASDAQ: NTGR) has announced its participation in the upcoming Raymond James 2024 TMT and Consumer Conference. CEO CJ Prober and CFO Bryan Murray will present at the event, scheduled for Tuesday, December 10, 2024, at 3:00 p.m. ET. The presentation will take place at The Lotte New York Palace in New York.

The event will be accessible via webcast through NETGEAR's IR website, with a replay available shortly after the presentation concludes.

NETGEAR has launched Engage 2.0, a free software upgrade for managing audiovisual (AV) networks. The platform streamlines the management of Ethernet switches, routers, and WiFi access points in commercial, broadcast, and residential installations. Key features include unified wired and wireless management, auto-discovery capabilities, zero configuration setup, and fast roaming support. The software enables wireless control of AV endpoints across VLANs, creation of temporary WiFi guest networks, and seamless integration of AV systems with home WiFi networks. It supports NETGEAR AV M4250, M4300, M4350, and M4500 series switches, one PR460X Pro Router, and up to 10 WBE758/WBE718 WiFi 7 access points per site.

NETGEAR reported Q3 2024 net revenue of $182.9 million, exceeding guidance despite a 7.6% decrease year-over-year. The company achieved GAAP operating income of $95.8 million (52.4% of revenue) and non-GAAP operating income of $1.6 million (0.9% of revenue). Notable achievements include the fifth consecutive quarter of free cash flow generation and a $101.4 million increase in cash position to $395.7 million. The ProAV business reached record end-user sales, and inventory declined by $27.0 million. For Q4 2024, NETGEAR projects revenue between $160-175 million with expected margin pressure due to inventory reduction efforts and increased promotional activities.

NETGEAR (Nasdaq: NTGR) has announced equity awards granted on October 15, 2024, to newly-hired employees, including Pramod Badjate, the new President and General Manager of NETGEAR for Business (NFB). These awards, granted under Nasdaq Listing Rule 5635(c)(4), serve as material inducements for their employment.

The inducement awards include:

• 165,000 time-based restricted stock units (RSUs) for Mr. Badjate
• 208,258 time-based RSUs for other newly-hired employees
• 55,000 target performance-based RSUs for Mr. Badjate

Mr. Badjate's RSUs will vest in installments, with one-third vesting on July 31, 2025, and the remainder vesting quarterly. The performance-based RSUs are tied to NETGEAR's total shareholder return compared to the Nasdaq Telecommunications Index from April 27, 2024, to December 31, 2026, with potential vesting on July 31, 2027.

NETGEAR, a global leader in intelligent networking solutions, has announced a conference call with investors and analysts scheduled for Wednesday, October 30 at 5:00 p.m. ET (2:00 p.m. PT) to discuss the company's third quarter 2024 results and fourth quarter 2024 business outlook. The news release detailing the Q3 2024 results will be disseminated on October 30, 2024, after market close.

Investors can join the call using the toll-free number (888) 660-6392 for US participants or (929) 203-0899 for international callers. The conference ID is 1030183. A live webcast of the call will be available on NETGEAR's Investor Relations website, with a replay accessible afterwards.

NETGEAR has expanded its Nighthawk WiFi 7 standalone router line with the introduction of three new models: RS600, RS500, and RS200. These routers offer ultra-fast WiFi 7 technology, powerful performance, and secure networking for various budgets. The new models join the existing RS700S and RS300 in the Nighthawk lineup, providing blazing speed, low latency, and high capacity.

Key features of the new routers include:

• WiFi coverage ranging from 2,500 to 3,300 sq. ft.
• Support for 80 to 150 concurrent devices
• Maximum speeds of 6.5 to 18 Gbps
• Tri-band and dual-band options
• Multiple high-speed Ethernet ports

The routers come with the Nighthawk App for easy configuration and management, and include a 30-day trial of NETGEAR Armor™ for enhanced security and NETGEAR Smart Parental Controls™ for family online safety.

NETGEAR has introduced the Nighthawk M7 Pro Mobile Hotspot (MR7400), the world's first WiFi 7 5G mobile hotspot, now available at AT&T. This device offers powerful, high-speed mobile connectivity with 5G speeds up to 6 Gbps and aggregated WiFi speeds up to 5.8 Gbps. Key features include:

- Tri-band WiFi 7 with dual-band concurrent operation
- Support for up to 64 devices
- Built-in firewall for secure connections
- 2.5G internet port for home use
- 2.8-inch touch screen display
- Removable 5040mAh Li-ion battery with up to 10 hours usage

The M7 Pro is priced at $449.99 on ATT.com, with special pricing for AT&T Enterprise Business customers.