NETGEAR, Inc. - NTGR STOCK NEWS

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.

NETGEAR (NASDAQ: NTGR) and Samsung Electronics have announced a strategic collaboration to improve WiFi 7 interoperability and roaming. The partnership aims to enhance connectivity between NETGEAR's Business WiFi 7 access points and Samsung's WiFi 7 client chipset solution. This collaboration addresses the challenge of WiFi roaming, particularly in environments with multiple mobile devices moving between access points.

NETGEAR offers WiFi 7 access points as part of its Total Network Solution, including the WBE750 and WBE710 Insight Manageable Tri-band WiFi 7 Access Points. These products provide advanced capabilities such as real-time responsiveness, low latency, and increased capacity. The partnership's initial focus on WiFi roaming is part of a broader effort to create seamless interoperability between NETGEAR networking solutions and Samsung WiFi 7 clients.

NETGEAR has launched the WBE710 Insight Manageable Tri-band WiFi 7 Access Point, expanding its WiFi 7 business solution portfolio. This new access point offers up to 9.4Gbps throughput and is designed to meet the growing demand for multi-gig capabilities in business environments. Key features include:

- Compatibility with previous WiFi generations
- Support for 8 separate wireless networks (SSIDs)
- 2.5Gbps PoE+ Ethernet port
- Multi-Link Operation for simultaneous data transmission on multiple bands
- Seamless roaming and load balancing
- Dedicated wireless backhaul for Instant WiFi Mesh networking

The WBE710 is part of NETGEAR's Total Network Solution and is priced at $349.99. It aims to provide businesses with a powerful, future-ready access point to handle the increasing number of WiFi 7-enabled devices.

NETGEAR (NASDAQ: NTGR) reported Q2 2024 results with net revenue of $143.9 million, above guidance but down 17% year-over-year. The company completed a $30 million channel destocking and achieved its fourth consecutive quarter of free cash flow generation. GAAP operating loss was $46.9 million (32.6% of revenue), while non-GAAP operating loss was $31.1 million (21.6% of revenue). NETGEAR ended the quarter with $294.3 million in cash and investments, up $4.9 million from the previous quarter. The company appointed a new Board member and hired a President for its B2B business unit. NETGEAR's subscription business grew to 958,000 subscribers, with recurring subscriber revenue up 30% year-over-year.