Arlo Technologies, Inc. (NYSE: ARLO) reported Q2 EPS of ($0.10), $0.31 better than the analyst estimate of ($0.41). Revenue for the quarter came in at $66.6 million versus the consensus estimate of $54.83 million.

“I am extraordinarily proud of the team at Arlo for their remarkable execution in outperforming our expectations for the quarter, delivering top and bottom line results above the upper end of our guidance, despite supply and go-to-market challenges,” said Matthew McRae, Chief Executive Officer of Arlo Technologies. “Importantly, our new business model that includes a free 90-day trial of Arlo Smart continues to show very strong conversion rates and once again we set records for registered accounts, paid accounts and service revenue. The launch of the Arlo Essential Spotlight Camera, the latest addition to our award-winning smart home security ecosystem, completes our transition to this new business model and addresses the fastest growing price segment in the market. I believe the second quarter marks an inflection point in our subscription business and expect this momentum to continue.”

GUIDANCE:

Arlo Technologies, Inc. sees Q3 2020 EPS of ($0.33)-($0.24), versus the consensus of ($0.30). Arlo Technologies, Inc. sees Q3 2020 revenue of $85-95 million, versus the consensus of $81.74 million.

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