NETGEAR, Inc. - NTGR STOCK NEWS

NETGEAR has launched the Orbi 860 Series, enhancing its award-winning Orbi 850 Series. Key features include a 10Gb Ethernet port for multi-gig internet, improved antenna for better WiFi performance, and a year of NETGEAR Armor for security against online threats. The Orbi RBK863 model provides up to 8,000 sq. ft. coverage with speeds up to 6Gbps and supports 100 devices simultaneously. This series aims to meet the growing demand for high-performance home WiFi, addressing increased internet usage post-pandemic.

NETGEAR has launched the Nighthawk M6, an upgraded 5G mobile hotspot that enhances speed and WiFi performance. The device supports maximum 5G speeds of 2.5Gbps and can achieve combined WiFi speeds of up to 3.6Gbps with WiFi 6 devices. It features an innovative In-Home Performance Mode for extending WiFi coverage up to 2,000 square feet. The M6 is powered by Qualcomm's Snapdragon SDX62 platform, supports up to 32 devices, and offers a 5040mAh battery with a life of up to 13 hours. Available now for $799.99, this device aims to meet the growing demand for reliable mobile connectivity.

NETGEAR, Inc. (NASDAQ: NTGR) launched two new access points, WAX628 and WAX638E, at the CEDIA Expo, specifically for the residential custom integration market. These products, available exclusively through authorized integrators, include four years of NETGEAR Insight and ProSupport services. The dual-band WAX628 offers speeds up to 5.4 Gbps, while the tri-band WAX638E reaches up to 7.8 Gbps. The new access points emphasize robust security, mesh capability, and backward compatibility, aiding integrators in enhancing smart home networks.

NETGEAR has launched the Nighthawk AXE3000 WiFi 6E USB 3.0 Adapter (A8000), the first of its kind, aimed at upgrading PCs to the latest WiFi standards easily. This adapter enhances connectivity by allowing access to the exclusive 6GHz band, providing speeds of up to 1.2Gbps. The product offers a user-friendly plug-and-play experience, supporting all WiFi bands and compatible with any router. With a retail price of $89.99, it’s positioned as a cost-effective solution for gamers and regular users alike, ensuring maximum performance with NETGEAR's premium routers.

NETGEAR (NASDAQ: NTGR) expands its Meural digital canvases by integrating the Phantom wallet for Solana NFTs, allowing collectors to display their NFTs physically. This partnership aims to enhance the user experience by connecting the rapidly growing Solana ecosystem with Meural's art platform, facilitating a seamless display of digital art. Additionally, Meural canvases will be sold at the newly opened Solana Spaces in New York's Hudson Yards, dedicated to educating visitors about Web3 technologies.

NETGEAR (NASDAQ: NTGR) has announced a partnership with SuperRare, a unique NFT marketplace, marking its entry into the Web3 space. This collaboration aims to develop a licensing and royalty model for displaying NFTs on NETGEAR's Meural digital canvas. By acquiring $RARE tokens and joining the SuperRare DAO, NETGEAR seeks to empower artists and enhance the experience of digital art. The Meural platform already features over 30,000 licensed artworks and will showcase curated NFT collections as part of this initiative. This partnership embodies a shared vision to innovate in digital art engagement.

NETGEAR (NASDAQ: NTGR) reported Q2 2022 results with a net revenue of $223.2 million, down 27.7% year over year. The company faced a GAAP operating loss of $10.1 million compared to a profit of $21.5 million in the prior year. Despite these challenges, the SMB business achieved record revenue and the company noted double-digit growth in several product categories. Looking ahead, NETGEAR projects Q3 revenue between $240 million and $255 million, driven by strong demand and improving supply chain conditions, although uncertainties remain.

NETGEAR (NASDAQ: NTGR) has scheduled a conference call for investors on July 27, 2022, at 5:00 p.m. ET to discuss its Q2 2022 results and Q3 2022 outlook. The announcement of Q2 results will be made on the same day after market close. Interested parties can join the call by dialing (888) 660-6468 for domestic calls or (929) 201-5709 for international calls, with the conference ID of 1030183. A live webcast will be available on the NETGEAR Investor Relations website.

NETGEAR reported a net revenue of $210.6 million for Q1 2022, a decrease of 33.8% year-over-year. The company faced a GAAP operating loss of $58.5 million, significantly impacted by non-cash impairment charges. Non-GAAP operating loss was $9.3 million. Despite these challenges, NETGEAR achieved a 30.4% growth in paid subscribers, totaling 627,000. The CEO acknowledged ongoing supply chain issues due to COVID-19 but remains optimistic about their premium product offerings and revenue guidance for Q2, expecting revenue between $205 million and $220 million.