We are honored that our recently introduced M4350 ProAV managed switch won the InfoCommÂ's AV Technology Award for Best of Show last month in Orlando, Florida. This powerful AV over IP managed switch enables even more PoE power budget and more 25 gigabits per second ports all with low latency, low jitter and losses transport of AV signals. Thank you, Patrick. We expect to continue to experience strong underlying demand in the SMB business and the premium portion of our CHP product portfolio, even in the fac ...

NETGEAR, Inc. (NASDAQ:NTGR) Q1 2023 Earnings Conference Call April 26, 2023 5:00 PM ET Conference Call Participants Erik Bylin - IR Patrick Lo - Chairman and Chief Executive Officer Bryan Murray - Chief Financial Officer Operator And at this time, I will turn things over to Mr. Erik Bylin. Mr. Bylin, you may begin. Accordingly, our net revenue for the quarter ended April 2nd, 2023 was $180.9 million, which came in below the low end of our guidance range, down 14.1% year-over-year and down 27.4% on a sequent ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the fiscal year ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from to Commission file number 000-50350 _ NETGEAR, Inc. (Exact name of registrant as specified in its charter) Delaware 77-0419172 (State or other jurisdictio ...

Financial Data and Key Metrics - Net revenue for Q4 2022 was $249.1 million, flat sequentially and down 0.8% YoY [1] - Non-GAAP gross margin in Q4 2022 was 24.9%, down 510 bps YoY and 270 bps QoQ [3] - Non-GAAP operating loss for the full year 2022 was $15.6 million with a non-GAAP operating margin of negative 1.7% [2] - Cash and short-term investments at the end of Q4 2022 were $227.4 million, down $5.8 million from the prior quarter [4] - Non-GAAP R&D expense in Q4 2022 was 7.7% of net revenue, down from 8.7% YoY and 8.5% QoQ [22] Business Line Performance - SMB revenue for the full year outperformed expectations, with managed switch products growing 65% YoY [5] - Connected Home segment revenue in Q4 2022 was $149 million, down 14.4% YoY and 1% sequentially [64] - Service revenue in Q4 2022 was $8.9 million, up 23.9% YoY and 5.3% sequentially [10] - Premium products, including ProAV managed switches, 5G mobile hotspots, and WiFi mesh products, experienced strong demand [1][26] Market Performance - Americas net revenue in Q4 2022 was $159.2 million, flat YoY and down 6% sequentially [62] - EMEA net revenue in Q4 2022 was $52.7 million, up 5.4% YoY and 17.6% QoQ [62] - APAC net revenue in Q4 2022 was $37.2 million, down 10.8% YoY and up 5.1% sequentially [62] - On a constant currency basis, EMEA revenue would have grown 21% YoY, and APAC revenue would have declined only 5% [21] Company Strategy and Industry Competition - The company is focusing on premium, high-margin products such as ProAV managed switches, premium WiFi mesh systems, and 5G mobile products [63][66] - The company is investing in R&D for AV over IP products to target the TV broadcast industry and residential custom integration market [67] - The company plans to expand its service offerings, including security, privacy, and support, to drive higher conversion and retention rates [11][29] - The company is leveraging its premium product portfolio to outperform the broader market, which declined by approximately 25% in 2022 [61] Management Commentary on Operating Environment and Future Outlook - The company faced challenges in 2022, including supply chain disruptions, foreign exchange headwinds, and elevated transportation costs [6][83] - The company expects Q1 2023 net revenue to be in the range of $185 million to $200 million, with service provider revenue expected to decrease to approximately $25 million [13][116] - The company anticipates improved supply chain conditions in the second half of 2023, particularly for SMB products [44][111] - The company remains confident in its long-term growth potential, driven by its premium product strategy and market leadership in ProAV and WiFi mesh systems [6][94] Other Important Information - The company shipped approximately 2.2 million units in Q4 2022, including 1.4 million nodes of wireless products [85] - The company's paid subscriber count reached 747,000, up 27.9% YoY, with a target of 875,000 paid subscribers by the end of 2023 [70] - The company received three CES 2023 Innovation Awards for its premium products, including the Orbi 860 Series and Insight Managed WiFi 6E Tri-Band Access Point [71][30] Q&A Session Summary Question: Supply chain improvement timeline for SMB and CHP businesses [101] - The company expects slight improvement in Q2 2023, with more significant improvements in the second half of the year, particularly for SMB products [101][111] - The reopening of China is expected to help with supply chain issues, particularly for key components like power supplies [110] Question: Gross margin decline in Q4 2022 [104] - The decline was driven by the strengthening U.S. dollar, higher freight costs, and elevated inventory levels [115] Question: Service provider revenue guidance [105] - The company expects service provider revenue to be around $25 million per quarter in the first half of 2023, with full-year revenue still expected to reach $140 million [116] Question: Cash flow and inventory management [46] - The company expects to generate free cash flow at a rate of about 200% of non-GAAP net income for 2023, with Q1 2023 expected to show improved cash flow conversion [47]

NETGEAR, Inc. (NASDAQ:NTGR) Q3 2022 Earnings Conference Call October 26, 2022 5:00 PM ET Company Participants Erik Bylin - IR Patrick Lo - Chairman and CEO Bryan Murray - CFO Conference Call Participants Hamed Khorsand - BWS Adam Tindle - Raymond James Paul Silverstein - Cowen Operator Ladies and gentlemen, thank you for standing by. At this time all participants are in a listen-only mode. Later we will conduct a question-and-answer session. [Operator Instructions] I'd now like to turn the conference over t ...

prol NETGEAR NETGEAR orbi | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|--------------------------|-------------------|--------------|-------|-------|-------|--------------------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | NETGEAR | | | | | | | | | | | | ０ＣＴＯＢＥＲ ２０２２ | INVESTOR OVERVIEW | | | | | | | | | | | | | | | | | | | | | | | | | NETOEAR | | 8 | | .................. | | | | (3) | (b) | | | NETGEAR a a | | 0 | | ...

prol NETGEAR NETGEAR orbi | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-----------------|---------------------------|-------|---------------|-------|-------|-----------------------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | NETGEAR INVESTOR OVERVIEW | | | | | | | | | | | J U L Y 2 0 2 2 | | | | | | | | | | | | | | | NETOEAR | 은 다 | | ... .. . | | | | (3) | (b) | | | | NETGEAR 日 日 | | o | &&&&&&&&&&&&&&& | | | | | ...

NETGEAR, Inc. (NASDAQ:NTGR) Q2 2022 Earnings Conference Call July 27, 2022 5:00 PM ET Company Participants Erik Bylin ??? Investor Relations Bryan Murray ??? Chief Financial Officer Patrick Lo ??? Chairman and Chief Executive Officer Conference Call Participants Adam Tindle ??? Raymond James Hamed Khorsand ??? BWS Financial Jared Jungjohann ??? Cowen and Company Paul Silverstein ??? Cowen Operator Ladies and gentlemen, thank you for standing by. At this time all participants are in a listen-only mode. Later ...

prol NETGEAR NETGEAR orbi | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|---------------------|---------------------------|-----------|-------|-------|-------|-----------------------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | NETGEAR INVESTOR OVERVIEW | | | | | | | | | | | | A P R I L 2 0 2 2 | | | | | | | | | | | | | | | NETOEAR | | 은 다 | | ... .. . | | | | (3) | (b) | | | | NETGEAR | 日 日 | o ...

NETGEAR, Inc. (NASDAQ:NTGR) Q1 2022 Earnings Conference Call April 27, 2022 5:00 PM ET Company Participants Erik Bylin - Investor Relations Bryan Murray - Chief Financial Officer Patrick Lo - Chairman and Chief Executive Officer Conference Call Participants Jeffrey Rand - Deutsche Bank Adam Tindle - Raymond James Hamed Khorsand - BWS Financial Paul Silverstein - Cowen Disclaimer*: This transcript is designed to be used alongside the freely available audio recording on this page. Timestamps within the transc ...