Stock Track | Arlo Stock Soars on Q3 Earnings Beat and Revenue Growth

Stock Track11-08

Shares of Arlo Technologies Inc. (ARLO) surged 5.65% on November 7th, after the company reported better-than-expected third quarter 2024 earnings results.

The security camera maker reported adjusted earnings per share of $0.11 for the quarter, beating analysts' estimates of $0.10. Revenue for the quarter came in at $137.67 million, also surpassing consensus expectations of $136.1 million.

Arlo's Q3 performance was driven by solid growth in its Annual Recurring Revenue (ARR), which reached $241.6 million, reflecting the company's focus on recurring subscription services. The company's gross margin stood at 35.2%, while its adjusted gross margin was 36%.

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