Exhibit 99.1 NEWS RELEASE NETGEAR® REPORTS THIRD QUARTER 2024 RESULTS Q3 net revenue of $182.9 million, above the high end of guidance Achieved GAAP and non-GAAP profitability, above the high end of guidance Fifth consecutive quarter of free cash flow generation Added more than $100 million to cash and cash equivalents to end Q3 with $395.7 million SAN JOSE, California – October 30, 2024 - NETGEAR, Inc. (NASDAQ: NTGR), a global leader in intelligent networking solutions for businesses, homes, and service pr ...

Core Viewpoint - NETGEAR, Inc. has expanded its Nighthawk WiFi 7 standalone router portfolio with the introduction of RS600, RS500, and RS200 models, aiming to meet the growing demand for advanced networking solutions as households transition to WiFi 7 technology [1][5]. Product Launch and Features - The new standalone WiFi 7 routers include RS600 priced at $499, RS500 at $399, and RS200 at $229, available on NETGEAR.com and gradually at other retailers [1] - These routers offer impressive speed, low latency, and high capacity, featuring patented omni-directional internal antennas for optimal signal range and 360-degree coverage [2] - Advanced encryption protocols and threat detection systems are utilized in the new routers, including WPA3 security, access control, automatic firmware updates, VPN support, and guest WiFi options [3] Security Features - The routers come with a 30-day trial of NETGEAR Armor, powered by Bitdefender, providing an additional layer of protection for connected devices [3][4] - Integrated Armor delivers real-time alerts for detected threats and personalized recommendations to enhance security and privacy [4] - NETGEAR Smart Parental Controls are included, allowing management of children's online time and promoting healthy online habits [4] Market Position and Financial Outlook - NETGEAR is capitalizing on the demand for robust networking solutions due to the increasing number of Internet-connected devices and the transition to WiFi 7, which offers speeds 2.4 times faster than previous standards [5] - The company recently raised its third-quarter 2024 revenue guidance to between $170 million and $180 million, up from the previous range of $160 million to $175 million, attributed to a litigation settlement and the early launch of a 5G mobile hotspot [9][10] - Despite the positive outlook, concerns remain regarding weak macroeconomic conditions and rising costs [10] Stock Performance - NETGEAR currently holds a Zacks Rank of 4 (Sell), with shares having gained 70.8% over the past year compared to the sub-industry's growth of 1.9% [11]

NETGEAR Inc. NASDAQ: NTGR manufactures a wide range of networking products for consumers and businesses worldwide. Its devices, including routers, switches, and modems, help to enhance internet connectivity. NTGR ▼ NETGEAR Today NETGEAR NETGEAR $21.36 -0.58 (-2.64%) 52-Week Range $10.40 $22.62 Price Target $15.00 Add to Watchlist The company has been around since the internet boom. It continues to provide reliable, high-performance networking products that enable seamless connectivity for a growing range of ...

Core Insights - NETGEAR, Inc. (NTGR) stock increased by 30.8% to close at $20.84 following a settlement agreement with TP-Link Systems Inc. regarding patent infringement and breach of contract claims [1][2] Financial Impact - NETGEAR received a payment of $135 million as part of the settlement, leading to the dismissal of all legal disputes between the two companies [2] - The company raised its Q3 2024 revenue guidance to a range of $170 million to $180 million, up from the previous estimate of $160 million to $175 million [3][4] - NETGEAR expects a net benefit of $103.6 million from the settlement, which will be reflected in its financials [4][5] Operating Margins and Expenses - The GAAP operating margin for Q3 is now projected to be between 48% and 51%, a significant improvement from the earlier forecast of (15.3)% to (12.3)% [6] - The GAAP tax expense is now expected to be between $19 million and $20 million, compared to the previous estimate of $1 million to $2 million [7] Product Launch and Market Position - The early launch of a next-generation 5G mobile hotspot is expected to enhance NETGEAR's position in the market, coinciding with the Wi-Fi 7 upgrade cycle [3][8] - NETGEAR has introduced new Wi-Fi 7 products at competitive prices, aiming to expand its product line in this segment [9] Inventory and Business Outlook - With the completion of inventory destocking, NETGEAR anticipates improved performance aligned with market conditions and reduced volatility from inventory shifts [10] - The company expects to benefit from strengths in its ProAV managed switch business and plans to address headwinds in its CHP business as the Wi-Fi 7 upgrade cycle progresses [10]

Investment Thesis - NETGEAR provided positive guidance for the upcoming quarter and received a $90 million cash benefit from a legal settlement after fees and taxes [2] - The company is considered optically cheap with over 60% of its market cap consisting of cash and no debt [2] - The business is shrinking and largely unprofitable, but the financial position is strong [2] Business Overview - NETGEAR provides networking products for businesses and consumers, focusing on internet connectivity through devices like Wi-Fi routers, modems, and switches [3] - The company is expanding in two key areas: ProAV managed switches for enterprise customers and consumer Wi-Fi products for home use [3] - NETGEAR aims to offer a broader range of products at different price points while focusing on innovation [3] Litigation Update - NETGEAR settled legal disputes with TP-Link, receiving a $135 million payment [4] - After fees and taxes, the company will receive $90 million in cash, boosting its financial position [5] - The settlement also eliminates further legal costs and uncertainties [5] Financial Performance - NETGEAR expects a negative 11% year-over-year revenue growth for Q3 2024, marking the 12th consecutive quarter of revenue decline [6][7] - The company generated $16 million in free cash flow and executed $10 million in share repurchases in the last quarter [8] - NETGEAR exited the quarter with over $294 million in cash and expects to continue generating cash in the second half of 2024 [8] Valuation and Cash Position - NETGEAR's net cash position is estimated at 64% of its market cap, with $385 million in cash and marketable securities and no debt [8] - The company's market cap is close to $600 million with approximately 28.6 million shares outstanding [9] Operating Margin Guidance - NETGEAR revised its non-GAAP operating margin guidance for Q3 2024 from -11% to -8% to a range of -4% to -1% [8] - The improvement in operating margin is primarily driven by the legal settlement and expected revenue increase [8] Conclusion - NETGEAR has made progress with the $135 million settlement and increased cash reserves to $385 million, but the business remains largely unprofitable [10] - The company continues to struggle with declining revenue, projecting a negative 11% year-over-year revenue growth for Q3 2024 [10] - Despite improvements in non-GAAP operating margin guidance, much of the progress is linked to the settlement rather than operational improvements [11]

I H II I E T Sundry Photography On July 31, 2024, NETGEAR, Inc. (NASDAQ:NTGR) reported second-quarter revenue that fell by 12%. It reported a loss, worse than the year before. After the markets closed yesterday, the networking equipment firm raised its sales guidance for the third quarter. How is it that the previous quarter's results are in steep contrast to the current quarter for this under-performing firm? Netgear Second-Quarter Results Last quarter, Netgear reported revenue of $143.9 million (-12.6% Y/ ...

NETGEAR, Inc. (NTGR) recently enhanced its portfolio of WiFi 7 devices with the addition of the Nighthawk M7 Pro Mobile Hotspot (MR7400). Powered by the Qualcomm Snapdragon SDX75 chipset and operating on AT&T's 5G network, the M7 Pro offers an exceptional Internet experience, combining advanced WiFi 7 technology with 5G speeds. It is specifically designed to deliver high-speed, portable and secure connectivity, making it ideal for both consumers and businesses. The new M7 Pro delivers superfast Internet wit ...

NETGEAR, Inc. (NTGR) has collaborated with Samsung Electronics' System LSI Business to ensure smooth interoperability and roaming between NETGEAR's Business WiFi 7 access points and Samsung's WiFi 7 client chipset offering. Both companies were the early adopters of WiFi 7, with NTGR focusing on access points and Samsung on client solutions. NETGEAR noted that smooth connectivity in areas with many mobile devices is challenging due to WiFi roaming issues. While stationary devices stay connected to one access ...

Core Insights - NETGEAR, Inc reported a second-quarter 2024 non-GAAP loss of 74 cents per share, which is wider than the non-GAAP loss of 16 cents in the same quarter last year but narrower than the Zacks Consensus Estimate of a loss of 82 cents per share [1] - The company generated net revenues of $143.9 million, down 17% year over year, primarily due to weakness in the Connected Home Products (CHP) and NETGEAR for Business (NFB) segments, although the revenue beat the consensus estimate by 8.45% [2] Revenue Breakdown - Revenues from the Americas were $95.5 million, accounting for 66% of total revenues, down 18% year over year [3] - Europe, the Middle East, and Africa generated revenues of $27.3 million, down 24.3%, while revenues from the Asia Pacific region increased by 1.9% year over year to $21 million [3] - The Connected Home segment generated revenues of $84 million, down 14.6% year over year, but saw positive demand trends for new lower-priced Wi-Fi 7 products [4] - NFB revenues declined 20.2% year over year to $59.8 million despite record sales of ProAV managed switch products [5] Financial Performance - Adjusted gross margin decreased to 22.4% from 31.6% year over year, and non-GAAP operating loss was $31.1 million compared to a loss of $10.7 million in the previous year [6] - Non-GAAP operating expenses were $63.3 million, down 3.3% [6] Cash Flow and Liquidity - For the quarter ended June 30, 2024, NETGEAR generated $35.6 million in cash from operations, with cash and cash equivalents totaling $177.1 million [7] - Total current liabilities were $253 million, compared to $264.4 million in the same quarter last year [7] Share Repurchase Program - The company repurchased 799,800 shares worth $21.4 million during the quarter and has authorized an additional buyback of up to 3,000,000 shares, bringing the total program to 3,875,000 shares valued at approximately $62 million [8] Q3 Guidance - Management projects net revenues in the range of $160-$175 million for Q3, expecting more predictable performance following destocking efforts [9] - Anticipated revenues from the service provider channel are expected to be nearly $15 million in Q3, with new 5G mobile hotspots expected to launch in Q4 [9] Margin Forecast - Gross margins and operating margins are expected to be affected by ongoing inventory reduction efforts and elevated transportation costs [10] - GAAP operating margin is forecasted to be between (15.3)% and (12.3)%, while non-GAAP operating margin is estimated in the range of (11)% to (8)% [10] Tax Expense Projections - GAAP tax expense is expected to be between $1 million and $2 million, with a non-GAAP tax benefit projected to be between $1.5 million and $2.5 million for Q3 2024 [11]

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]