ARLO TECHNOLOGIES Reports Third Quarter Earnings for FY2023
November 20, 2023
🌥️Earnings Overview
For the third quarter of FY2023 ending on September 30 2023, ARLO TECHNOLOGIES ($NYSE:ARLO) reported total revenue of USD 130.0 million, showing a 1.4% increase from the same period a year ago. Net income was USD -1.1 million, compared to a net loss of -14.4 million in the same quarter of the prior year.
Stock Price
The company’s stock opened at $9.1 and closed at $8.8, representing a 3.0% decrease from its previous closing price of $9.1. The company had shown some improvement in its financial performance in the second quarter, but this quarter’s earnings report was a step back. The company’s stock reacted accordingly, with the drop in price reflecting investor sentiment. However, the company’s EPS and net income were still able to meet or beat expectations, which could provide investors some confidence in the future of ARLO TECHNOLOGIES going forward. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Arlo Technologies. More…
| Total Revenues | Net Income | Net Margin |
| 474.61 | -44.88 | -9.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Arlo Technologies. More…
| Operations | Investing | Financing |
| 19.19 | -32.29 | -16.59 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Arlo Technologies. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 297.64 | 207.44 | 0.95 |
Key Ratios Snapshot
Some of the financial key ratios for Arlo Technologies are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 9.2% | – | -9.5% |
| FCF Margin | ROE | ROA |
| 3.3% | -32.8% | -9.5% |
Analysis
We here at GoodWhale recently conducted an analysis of ARLO TECHNOLOGIES and found that the company is classified as a ‘rhino’ in our Star Chart. This means that the company has achieved moderate revenue or earnings growth. Investors looking for companies in varying stages of growth may be interested in investing in ARLO TECHNOLOGIES – especially those who are looking to invest in a company that has achieved a certain level of stability. Our analysis also revealed that ARLO TECHNOLOGIES has an intermediate health score of 4/10 with regards to its cashflows and debt. This means that the company might be able to safely ride out any crisis without the risk of bankruptcy, according to our analysis. In terms of its various performance indicators, ARLO TECHNOLOGIES is strong in asset, medium in growth, and weak in dividend, profitability and liquidity. More…
Peers
The company was founded in 2007 and is headquartered in San Mateo, California. Arlo has a wide range of products that cater to both home and business security needs. The company offers both indoor and outdoor cameras, as well as video doorbells and security lights. Arlo’s products are easy to install and can be controlled via the company’s mobile app. Arlo’s main competitors are Thruvision Group PLC, Senstar Technologies Ltd, and Synectics PLC. These companies also offer security cameras and systems, but they each have their own unique selling points. Thruvision Group PLC is a UK-based company that specializes in body-worn cameras. Senstar Technologies Ltd is a Canadian company that offers a wide range of security solutions, including video surveillance, access control, and perimeter security. Synectics PLC is a UK-based company that specializes in video surveillance systems.
– Thruvision Group PLC ($LSE:THRU)
Thruvision Group is a technology company that provides solutions for security, crowd management, and people flow management. The company has a market cap of 33.72M as of 2022 and a ROE of -12.33%. Thruvision’s solutions are used in a variety of settings, including airports, stadiums, and mass transit systems.
– Senstar Technologies Ltd ($NASDAQ:SNT)
Senstar Technologies Ltd is a Canadian company that specializes in the development and manufacture of physical security products. The company has a market capitalization of $39.28 million and a return on equity of -3.59%. Senstar’s products are used in a variety of industries, including government, healthcare, finance, retail, and education.
– Synectics PLC ($LSE:SNX)
Synetec PLC is a provider of technology solutions. The company operates in three segments: Solutions, Services, and Software. The Solutions segment offers technology solutions that help organizations to be more efficient and effective. The Services segment provides professional services that help organizations to implement and use the company’s solutions. The Software segment develops and sells software products that complement the company’s solutions.
Summary
Investors should keep an eye on ARLO TECHNOLOGIES when evaluating potential investments. In the third quarter of FY2023, the company reported total revenue of USD 130.0 million, representing a 1.4% year-over-year increase. Although net income was negative at -1.1 million, it was an improvement from -14.4 million in the same quarter the previous year.
Unfortunately, the stock price moved down the same day, signalling potential investor concern about these results. Due to this, investors should take a more careful look at ARLO TECHNOLOGIES before deciding whether to invest.
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