Arlo Technologies, Inc. ARLO
Arlo Technologies, Inc. ("we" or "Arlo") is transforming the ways in which people can protect everything that matters to them with advanced home, business, and personal security services that combine a globally scaled cloud platform, advanced monitoring and analytics capabilities, and award-winning app-controlled devices to create a personalized security ecosystem. Arlo's deep expertise in cloud services, cutting-edge artificial intelligence ("AI") and computer vision analytics, wireless connectivity and intuitive user experience design delivers seamless, smart home security for Arlo users that is easy to setup and engage with every day. Our highly secure, cloud-based platform provides users with visibility, insight and a powerful means to help protect and connect in real-time with the people and things that matter most, from any location with a Wi-Fi or a cellular connection – all rooted in a commitment to safeguard privacy for our users and their personal data.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $529.3M | $510.9M | $491.2M | $490.4M | $435.1M | $357.2M | $370.0M | $464.9M | $370.7M | $184.6M |
| Cost of revenue | $296.5M | $323.4M | $323.6M | $354.4M | $327.1M | $301.8M | $334.2M | $372.8M | $279.4M | $146.6M |
| Gross profit | $232.8M | $187.5M | $167.6M | $136.0M | $108.0M | $55.4M | $35.8M | $92.1M | $91.2M | $38.0M |
| R&D | $73.7M | $73.2M | $68.6M | $64.7M | $59.1M | $60.1M | $69.4M | $58.8M | $34.7M | $24.4M |
| SG&A | $66.1M | $72.1M | $56.4M | $55.9M | $49.5M | $51.1M | $47.6M | $28.2M | $15.1M | $8.3M |
| Total operating expenses | $226.8M | $222.4M | $192.5M | $192.9M | $168.2M | $160.3M | $121.0M | $166.8M | $85.5M | $51.2M |
| Operating income | $6.1M | -$34.9M | -$24.9M | -$56.9M | -$60.1M | -$104.9M | -$85.2M | -$74.8M | $5.7M | -$13.1M |
| Interest expense | — | — | $3.9M | $926.0K | $11.0K | $802.0K | $2.7M | $1.2M | $0 | $0 |
| Pre-tax income | $15.7M | -$29.4M | -$20.9M | -$55.7M | -$55.4M | -$100.6M | -$81.6M | -$74.7M | $7.7M | -$13.7M |
| Income tax | $741.0K | $1.1M | $1.2M | $975.0K | $677.0K | $625.0K | $4.4M | $772.0K | $1.1M | $83.0K |
| Net income | $14.9M | -$30.5M | -$22.0M | -$56.6M | -$56.0M | -$101.3M | -$86.0M | -$75.5M | $6.5M | -$13.7M |
| EPS, basic | 0.14 | -0.31 | -0.24 | -0.65 | -0.68 | -1.30 | -1.14 | -1.12 | 0.11 | -0.22 |
| EPS, diluted | 0.14 | -0.31 | -0.24 | -0.65 | -0.68 | -1.30 | -1.14 | -1.12 | 0.11 | -0.22 |
| Shares, diluted (wtd. avg.) | $110.2M | $98.6M | $92.8M | $87.2M | $82.7M | $78.1M | $75.1M | $67.2M | $62.2M | $62.2M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $146.4M | $82.0M | $56.5M | $88.2M | $179.9M | $190.3M | $240.8M | $155.4M | $108.0K | $220.0K |
| Short-term investments | — | — | — | — | — | — | $20.0M | $49.7M | — | — |
| Receivables | $39.7M | $57.3M | $65.4M | $66.0M | $79.6M | $77.6M | $127.3M | $166.0M | $158.5M | — |
| Inventory | $41.2M | $40.6M | $38.4M | $46.6M | $38.4M | $64.7M | $68.6M | $124.8M | — | — |
| Total current assets | $260.5M | $262.6M | $250.5M | $232.8M | $303.6M | $356.5M | $469.6M | $515.5M | — | — |
| Property, plant and equipment | $13.2M | $4.8M | $4.8M | $7.3M | $9.6M | $15.8M | $21.4M | $49.4M | — | — |
| Goodwill | $11.0M | $11.0M | $11.0M | $11.0M | $11.0M | $11.0M | $11.0M | $15.6M | — | — |
| Other intangibles | — | — | — | — | — | $0 | $1.3M | $2.8M | — | — |
| Total assets | $310.5M | $298.4M | $285.5M | $272.2M | $347.5M | $414.0M | $542.7M | $595.9M | — | — |
| Accounts payable | $42.8M | $63.8M | $55.2M | $52.1M | $84.1M | $62.2M | $111.7M | $82.5M | — | — |
| Total current liabilities | $172.3M | $176.8M | $161.5M | $162.3M | $210.9M | $237.3M | $293.9M | $282.0M | — | — |
| Total liabilities | $182.7M | $197.5M | $182.3M | $184.5M | $234.8M | $280.2M | $339.3M | $326.4M | — | — |
| Retained earnings | -$383.0M | -$398.0M | -$367.5M | -$345.4M | -$288.8M | -$232.8M | -$131.5M | -$45.8M | — | — |
| Total equity | $127.8M | $100.9M | $103.3M | $87.7M | $112.7M | $133.8M | $203.4M | $269.5M | $125.4M | $73.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $78.7M | $51.3M | $38.3M | -$46.0M | -$23.2M | -$46.5M | $9.2M | -$17.7M | -$39.0M | -$33.1M |
| Depreciation and amortisation | $3.9M | $3.2M | $4.7M | $4.8M | $6.0M | $10.2M | $10.7M | $5.3M | $3.7M | $2.1M |
| Stock-based compensation | $62.3M | $68.7M | $47.9M | $48.5M | $38.0M | $35.2M | $22.9M | $8.8M | $2.5M | $1.5M |
| Capital expenditure | — | $2.7M | $2.8M | $2.0M | $2.3M | $3.9M | $6.7M | $21.7M | $3.6M | $1.5M |
| Investing cash flow | $27.8M | $10.8M | -$50.7M | -$31.8M | $17.7M | -$4.0M | $76.3M | -$71.3M | -$4.3M | -$10.3M |
| Financing cash flow | -$42.1M | -$40.8M | -$15.1M | -$13.9M | -$5.0M | -$23.0K | -$38.0K | $244.3M | $43.2M | $43.6M |
| Buybacks | $45.6M | $4.4M | $0 | $0 | — | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-26-016680.
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