Arlo Technologies: Fourth Quarter Earnings Overview

Arlo Technologies Reports Fourth-Quarter Profit

Arlo Technologies Inc., based in Carlsbad, California, announced a net profit of $5.8 million for the fourth quarter, marking a turnaround from a loss during the same period last year.

The company’s earnings translated to 5 cents per share. After adjusting for one-time items and stock-based compensation, earnings reached 22 cents per share.

These results surpassed analysts’ expectations, as the consensus from three Zacks Investment Research analysts was 16 cents per share.

Arlo, known for its smart connected devices, generated $141.3 million in revenue for the quarter, outperforming the anticipated $135.6 million forecasted by analysts.

For the full year, Arlo Technologies posted a net income of $14.9 million, or 14 cents per share, returning to profitability. Annual revenue totaled $529.3 million.

Looking ahead to the first quarter ending in March, the company projects earnings per share between 17 and 23 cents, with expected revenue ranging from $135 million to $145 million.

Since the start of the year, Arlo’s stock price has declined by 12%. However, as of the close of trading on Thursday, shares were valued at $12.34, reflecting an increase of nearly 4% over the past year.