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Netgear Inc (NTGR) delivers innovative networking solutions for connected homes and business environments. This hub provides investors and technology stakeholders with essential updates on corporate developments, product innovations, and strategic initiatives.
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NETGEAR, Inc. (NASDAQ: NTGR) reported Q2 2021 financial results with net revenue of $308.8 million, up 10.3% year-over-year. GAAP operating income reached $21.5 million, a margin of 7.0%. Non-GAAP operating income was $26.5 million, or 8.6% of net revenue. GAAP net income per diluted share was $0.57, compared to $0.20 in the prior year. Despite supply chain constraints, SMB revenue grew 58% year-over-year. For Q3, the company expects revenue between $285 million to $300 million and a GAAP operating margin of 2.1% to 3.1%.
NETGEAR (NASDAQ: NTGR) will host a conference call on July 21, 2021, at 5:00 p.m. ET to discuss its Q2 2021 results and Q3 2021 outlook. The results will be released after market close on the same day. Investors can join the call using the toll-free number (844) 709-2008 or the international number (647) 253-8663, with a conference ID of 9796754. A live webcast will be accessible on NETGEAR's Investor Relations website. The company has been a leader in networking technologies for over 25 years, providing solutions for home and business connectivity.
NETGEAR has partnered with Async Art to integrate programmable NFTs into the Meural Smart Canvas platform. This addition marks the first instance where dynamic artworks, capable of changing over time or reacting to owner input, are natively supported. The collaboration enhances user engagement, allowing owners to experience over 30,000 artworks in an interactive format. The Async channel will be available at no additional cost to Meural Canvas and WiFi Photo Frame users, emphasizing NETGEAR's commitment to innovation in digital art.
NETGEAR (NASDAQ: NTGR) has expanded its Meural Smart Canvas platform by incorporating Async Art NFTs, marking a significant advancement in digital art. Async Art is the first programmable digital platform for crypto-art, allowing for dynamic artworks that evolve based on ownership or public data. The partnership enhances the Meural platform, known for its extensive library of over 30,000 licensed artworks, providing users with a unique art viewing experience that can change over time. A subscription fee of $69.95 grants access to this innovative art collection.
NETGEAR (NTGR) has launched the Insight Managed WiFi 6 AX6000 Tri-band Multi-gig Access Point (WAX630), targeting small and medium businesses. This device offers up to 40% faster speeds compared to WiFi 5 and supports 12-streams with a data throughput of up to 6.0 Gbps. It features Instant Mesh technology, enhancing connectivity among access points. The WAX630 is priced at $329.99 in North America, €329.99 in Europe, and £289.99 in the UK. The new access point is designed for high-density environments such as schools and warehouses, ensuring robust security and ease in management through the Insight App.
NETGEAR (NASDAQ:NTGR) has launched its Smart Parental Controls™ service, an award-winning tool for managing children's online activities. Available on select Nighthawk WiFi routers and Orbi Mesh systems, this service offers features like usage history, customizable profiles, and internet scheduling. It aims to help families navigate online content amidst increasing screen time due to remote learning and entertainment. After a 30-day free trial, the service costs $69.99 annually or $7.99 monthly, with more availability planned for WiFi 6 devices.
NETGEAR (NASDAQ: NTGR) announced that its in-house design team received the Red Dot Award: Product Design 2021 for its Nighthawk and Orbi product lines. Robert Springer, Director of Industrial Design, stated the recognition reflects NETGEAR's commitment to merging aesthetic and functional design. Thirteen NETGEAR products were awarded, showcasing high design quality. The awards will be celebrated during the Red Dot Design Week starting June 21, 2021, and NETGEAR's products will be exhibited at the Red Dot Design Museum.
NETGEAR (NASDAQ: NTGR) launches the Orbi Pro WiFi 6 Mini (SXK30) Dual-band Mesh System, designed for small businesses and home offices. This system features aggregate WiFi speeds of up to 1.8Gbps and covers up to 4000 sq. ft., expandable to 10,000 sq. ft. with additional satellites. It supports up to 4 separate SSIDs and VLANs, enhancing network security and organization. The device includes a 1-year subscription to NETGEAR Insight for easy setup and remote management. The pricing starts at $299 for the base unit and $399.99 for a kit with an additional satellite.
NETGEAR (NASDAQ: NTGR) has launched the Insight™ Managed WiFi 6 AX3600 Dual-band Multi-gig Access Point (WAX620), targeting small and medium businesses. This access point offers a performance upgrade with WiFi 6 technology, delivering up to 40% higher communication speeds than WiFi 5. It features robust security including WPA3 encryption and supports multi-gig Power-over-Ethernet. Available now in North America and EMEA, the WAX620's MSRP starts at $229.99. Doug Cheung, senior product line manager, emphasizes its value for SMBs needing enhanced WiFi connectivity.
NETGEAR, Inc. (NASDAQ: NTGR) reported strong financial results for Q1 2021, with net revenue of $317.9 million, up 38.3% year-over-year. GAAP operating income reached $31.3 million (9.9% of revenue), compared to $0.7 million (0.3%) in Q1 2020. Non-GAAP operating income hit a record $42.3 million (13.3%). Net income per diluted share was $0.72, up from a loss of $0.14. The company added 44,000 subscribers to its services, totaling 481,000 subscribers. Future guidance projects revenue between $305 million and $320 million for Q2 2021.
