Arlo Technologies reports Q2 EPS 10c, consensus 9c

Reports Q2 revenue $127.4M, consensus $125.01M. The company said, “Arlo‘s service business continues its strong growth path, recently surpassing 4 million paid accounts and 76% non-GAAP gross margin, while reaching nearly 50% of the company’s total revenue. This outstanding performance drove non-GAAP net income per share of $0.19 and free cash flow to over $25 million for the first half of the year; an increase of 177% in non-GAAP net income over the first half of 2023. Arlo is well set up for the holiday season across our channels and is seeing an increased level of engagement from strategic partners, positioning us well to meet or exceed our long-range plan targets that we rolled out earlier this year.”