NETGEAR, Inc (NTGR) reported a second-quarter 2024 non-GAAP loss of 74 cents per share compared with the non-GAAP loss of 16 cents in the year-ago quarter. The reported figure was narrower than the Zacks Consensus Estimate of a loss of 82 cents per share. NETGEAR generated net revenues of $143.9 million, down 17% year over year. The downtick resulted from weakness across the CHP and NFB businesses. Also, it experienced significant impacts from channel inventory destocking and costs associated with reducing ...

NETGEAR Inc (NASDAQ:NTGR) Q2 2024 Results Conference Call July 31, 2024 5:00 PM ET Company Participants Erik Bylin - IR C.J. Prober - CEO Bryan Murray - CFO Conference Call Participants Adam Tindle - Raymond James 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 would now like to turn the conference over to Erik Bylin. Please go ahead. Erik Bylin Thank you, oper ...

Company Performance - NETGEAR, Inc. reported a quarterly loss of $0.74 per share, which was better than the Zacks Consensus Estimate of a loss of $0.82, but worse than a loss of $0.16 per share a year ago, indicating an earnings surprise of 9.76% [1] - The company posted revenues of $143.9 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 8.45%, although this represents a decline from year-ago revenues of $173.41 million [2] - Over the last four quarters, NETGEAR has surpassed consensus EPS estimates three times and topped consensus revenue estimates four times [2] Future Outlook - The sustainability of NETGEAR's stock price movement will depend on management's commentary during the earnings call and the earnings outlook for the coming quarters [3][4] - The current consensus EPS estimate for the upcoming quarter is -$0.25 on revenues of $165.16 million, and for the current fiscal year, it is -$1.57 on revenues of $631.13 million [7] Industry Context - The Computer - Networking industry, to which NETGEAR belongs, is currently ranked in the top 41% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact NETGEAR's performance [5]

Exhibit 99.1 NEWS RELEASE NETGEAR® REPORTS SECOND QUARTER 2024 RESULTS Q2 net revenue of $143.9 million, above the high end of guidance Completed destocking of channel, with approximately $30 million reduction Fourth consecutive quarter of FCF generation New Board member appointed and President of B2B business unit hired SAN JOSE, California – July 31, 2024 - NETGEAR, Inc. (NASDAQ: NTGR), a global networking company that delivers innovative products to global consumers and businesses, today reported financi ...

Orbi 770 is available for pre-order whereas Nighthawk RS300 is available now on NETGEAR.com Both the solutions will be available gradually at other major retailers. Users will get access to NETGEAR Smart Parental Controls on both solutions. This will help them to keep a tab on the online activities of their children through their connected devices. A subscription fee will be charged after a 30-day trial period for a premium plan, though the basic features remain free of cost. Nonetheless, robust demand for ...

Have you evaluated the performance of NETGEAR, Inc.'s (NTGR) international operations during the quarter that concluded in March 2024? Considering the extensive worldwide presence of this company, analyzing the patterns in international revenues is crucial for understanding its financial resilience and potential for growth.In today's increasingly interconnected global economy, a company's ability to tap into international markets can be a pivotal factor in shaping its overall financial health and growth tra ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended March 31, 2024 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) (State or other jurisdiction of incorporati ...

NETGEAR, Inc (NTGR) reported first-quarter 2024 non-GAAP loss of 28 cents per share compared with non-GAAP loss of 19 cents recorded in the year-ago quarter. The reported figure was wider than the Zacks Consensus Estimate of a loss of 27 cents.NTGR generated net revenues of $164.6 million, down 9% year over year. However, the top line beat the consensus estimate by 0.4%.Management noted that tough macroeconomic conditions along with inflationary pressure and high interest rates compelled channel partners to ...

Products & Technology NETGEAR FOR BUSINESS OTAL NETWORK NETGEAR® NETGEAR® AV NETGEAR® ju Total Network Solution NETGEAR® EARNINGS PRESENTATION Q 1 2024 SAFE HARBOR DISCLOSURE This presentation contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. The words "anticipate," "expect," "believe," "will," "may," "should," "estimate," "project," "outlook," "forecast" or other similar words are used to identify such forward-looking statements. However, t ...

Financial Data and Key Metrics - Non-GAAP gross margin in Q1 2024 was 29.5%, down 410 basis points YoY and 550 basis points QoQ [17] - Non-GAAP operating expenses in Q1 were $64.6 million, down 4.8% YoY and up 2.1% sequentially [19] - Non-GAAP net loss in Q1 was $8.4 million, with a diluted loss per share of $0.28 [21] - Cash and short-term investments at the end of Q1 were $289.4 million, up $5.8 million from the prior quarter [103] - Inventory reduction efforts are ongoing, with a target of reaching three months of supply by the end of the year [23][71] Business Line Performance - Connected Home Products (CHP) segment revenue was $96 million in Q1, down 6.6% YoY and 18.9% sequentially [41] - NETGEAR for Business (NFB) segment revenue was $68.6 million in Q1, down 2.4% sequentially, with strong demand in pro AV managed switches [42] - Service provider channel revenue was $28 million in Q1, partially offsetting retail challenges [95] - Premium products accounted for over 25% of CHP retail sales, up 500 basis points YoY [106] Market Performance - Americas revenue in Q1 was $109.9 million, down 9.8% YoY and 11.9% sequentially [97] - EMEA revenue was $31.2 million, down 20.4% YoY and 17.7% sequentially [97] - APAC revenue was $23.5 million, up 18.5% YoY but down 9.6% sequentially [97] Strategy and Industry Competition - The company is shifting away from product bundles to improve margins and recurring revenue [6][87] - New partnerships with home security providers and professional audio companies aim to enhance customer experience and expand market reach [5][8] - The company is focusing on a "good, better, best" product strategy to compete more effectively, especially on Amazon [86] - Efforts are being made to streamline operations and improve organizational efficiency [11][118] Management Commentary on Operating Environment and Future Outlook - The macroeconomic environment remains challenging, with higher-than-expected inflation and interest rates impacting channel inventory levels [62][120] - The company expects to generate cash in Q2 and the rest of the year, driven by inventory reductions [23][38] - Long-term growth opportunities are seen in pro AV managed switches, premium Wi-Fi mesh systems, 5G mobile hotspots, and subscription services [101] - The company is accelerating destocking efforts, expecting a $25 million to $30 million revenue headwind in Q2 [83][108] Other Important Information - The company exited the Meural business, writing off $500,000 of non-finished goods inventory in Q1 [74] - Share repurchases totaled $11.4 million in Q1, with 783,000 shares bought at an average price of $14.62 [105] - The company is implementing AI transformation efforts to enhance operations and product development [118] Q&A Session Summary Question: Why the hard reset in strategy? - The company is acting quickly to address COVID-related market conditions and set up for long-term success, pulling forward challenges to improve the second half of the year [29] Question: State of the consumer and inventory build-up? - The company is not seeing trade-down activity but is struggling to pull customers up to premium products [32] - Slower-moving inventory includes wireless LAN products on the SMB side, with efforts to transition to Wi-Fi 7 [33][34] Question: Cash generation and share repurchases? - Cash generation in Q2 is expected to be around half of Q1 levels, with inventory reduction being a key driver [38] - The company remains committed to opportunistic share repurchases [56]