NETGEAR Reports Q2 FY2023 Earnings of USD 173.4 Million, Down 22.3% YoY
August 22, 2023
🌥️Earnings Overview
NETGEAR ($NASDAQ:NTGR) reported their Q2 FY2023 earnings on June 30 2023, with total revenue amounting to USD 173.4 million, a year-on-year decrease of 22.3%. Their net income for the period stood at USD -8.6 million, which was a slight decrease from the -8.5 million reported in the same quarter of the previous year.
Analysis
GoodWhale has conducted a thorough financial analysis of NETGEAR‘s corporate and business aspects. Our Risk Rating for NETGEAR has determined that it is a high risk investment. This assessment was based on a comprehensive analysis of the company’s balance sheet, cashflow statement, and non financial factors. GoodWhale has detected three particular risks in NETGEAR’s financials. These warnings are a result of our detailed investigation into the company’s financial standing. To view a detailed report of these findings, register with us to gain access to all our analysis. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Netgear. NETGEAR_Reports_Q2_FY2023_Earnings_of_USD_173.4_Million_Down_22.3_YoY”>More…
| Total Revenues | Net Income | Net Margin |
| 853.01 | -21.54 | -2.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Netgear. NETGEAR_Reports_Q2_FY2023_Earnings_of_USD_173.4_Million_Down_22.3_YoY”>More…
| Operations | Investing | Financing |
| -45.65 | 2.2 | 0.75 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Netgear. NETGEAR_Reports_Q2_FY2023_Earnings_of_USD_173.4_Million_Down_22.3_YoY”>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 926.51 | 313.77 | 20.84 |
Key Ratios Snapshot
Some of the financial key ratios for Netgear are shown below. NETGEAR_Reports_Q2_FY2023_Earnings_of_USD_173.4_Million_Down_22.3_YoY”>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -6.1% | 16.7% | -5.2% |
| FCF Margin | ROE | ROA |
| -6.0% | -4.5% | -3.0% |
Peers
The company was founded in 1996 and is headquartered in San Jose, California. Netgear‘s product line includes routers, switches, wireless networking devices, and security cameras. The company also provides cloud storage and networking solutions. Netgear’s main competitors are Xavi Technologies Corp, Franklin Wireless Corp, and Fibocom Wireless Inc.
– Xavi Technologies Corp ($TPEX:3447)
Xavi Technologies Corp is a publicly traded company with a market capitalization of $2.3 billion as of 2022. The company has a return on equity of 11.29% and is engaged in the development, manufacture, and sale of high-performance semiconductor products. Xavi Technologies Corp’s products are used in a variety of applications including mobile phones,
– Franklin Wireless Corp ($NASDAQ:FKWL)
Franklin Wireless is a telecommunications company that provides wireless voice and data communications solutions. The company has a market cap of $35.64 million and a return on equity of -7.38%.
Franklin Wireless is a leading provider of wireless voice and data communications solutions. The company offers a comprehensive range of products and services that enable customers to stay connected to their families, friends, and businesses. Franklin Wireless is committed to providing the highest quality products and services to its customers.
– Fibocom Wireless Inc ($SZSE:300638)
Fibocom Wireless Inc is a global leader in the design and manufacture of IoT modules and solutions. The company has a market cap of 11.53B as of 2022 and a return on equity of 11.01%. Fibocom’s products are used in a wide range of applications including automotive, industrial, medical, and consumer. The company’s products are based on cutting-edge wireless technology and provide customers with reliable, high-performance, and low-power solutions.
Summary
Investors should assess the latest earnings report of NETGEAR for the second quarter of fiscal year 2023, with total revenue decreasing by 22.3%. A net loss of 8.6 million USD was posted, which was slightly less than the preceding year. Analysts will likely be keeping an eye on the company’s performance in the coming quarters, as it works to restore profitability. Long-term investors should likewise look out for signs of improvements in the company’s financials.
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