Arlo Technologies reports Q1 adjusted EPS 9c, consensus 9c

Reports Q1 revenue $124.2M, consensus $123.3M. “Arlo continued its strong track record of execution, leveraging an innovative product portfolio and a steadily growing and highly profitable services offering to more than double its free cash flow to a record $19.5 million compared to the same period last year. Arlo’s $227 million in ARR drove remarkable leverage in the business and allowed us to improve our non-GAAP EPS by 8 cents year over year,” said Matthew McRae, Chief Executive Officer of Arlo Technologies. “Our singular focus on delivering a superior customer experience in smart security has positioned Arlo for success in 2024 and beyond. Our first quarter results represent a strong start to the year and our continued operational excellence reaffirms our confidence that we can achieve our updated long-range plan targets of 10 million paid accounts, $700 million in ARR, and 25% non-GAAP operating margins.”