Arlo Technologies approves $100M stock repurchase program

Arlo Technologies (NYSE: ARLO) announced that its Board of Directors has approved a stock repurchase program of up to $100 million of its common stock, with the program set to run through December 31, 2028.

The repurchases will be conducted through open market purchases under Rule 10b-18 of the Securities Exchange Act of 1934, with timing and volume based on economic cost and prevailing market conditions, including relative trading prices and volumes of Arlo's common stock. The Board of Directors retains the ability to extend or shorten the program.

"The authorization of a new stock repurchase program of this magnitude reflects our board and management's belief that our shares are undervalued relative to the company's long-term value," said Matthew McRae, Chief Executive Officer of Arlo Technologies. "We believe the new repurchase program also sends a powerful message with respect to the confidence in our business and future growth opportunities."

The information is based on a press release issued by Arlo Technologies, which is headquartered in Carlsbad, California.

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