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10-Q Filing

NETGEAR, INC. CIK: 1122904 Q1 2020
Filing Information
Form Type 10-Q
Accession Number 0001564590-20-020512
Period End Date 20200331
Filing Date 20200501
Fiscal Year 2020
Fiscal Period Q1
XBRL Instance ntgr-10q_20200329_htm.xml
Balance Sheet 60 line items
Line Item Tag Value Unit Period
Accounts receivable, net of allowance for doubtful accounts of $1,076 and $1,079 as of March 29, 2020 and December 31, 2019, respectively AllowanceForDoubtfulAccountsReceivableCurrent $1.08M USD Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $1,076 and $1,079 as of March 29, 2020 and December 31, 2019, respectively AllowanceForDoubtfulAccountsReceivableCurrent $1.08M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $204.29M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $190.21M USD Point-in-time
Short-term investments ShortTermInvestments $5.42M USD Point-in-time
Short-term investments ShortTermInvestments $5.50M USD Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $1,076 and $1,079 as of March 29, 2020 and December 31, 2019, respectively AccountsReceivableNetCurrent $277.17M USD Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $1,076 and $1,079 as of March 29, 2020 and December 31, 2019, respectively AccountsReceivableNetCurrent $257.58M USD Point-in-time
Inventories InventoryNet $180.60M USD Point-in-time
Inventories InventoryNet $235.49M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $29.75M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $35.74M USD Point-in-time
Total current assets AssetsCurrent $677.65M USD Point-in-time
Total current assets AssetsCurrent $744.11M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $16.38M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $17.68M USD Point-in-time
Operating lease right-of-use assets, net OperatingLeaseRightOfUseAsset $27.57M USD Point-in-time
Operating lease right-of-use assets, net OperatingLeaseRightOfUseAsset $28.92M USD Point-in-time
Intangibles, net IntangibleAssetsNetExcludingGoodwill $10.10M USD Point-in-time
Intangibles, net IntangibleAssetsNetExcludingGoodwill $8.51M USD Point-in-time
Goodwill Goodwill $80.72M USD Point-in-time
Goodwill Goodwill $80.72M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $68.54M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $74.28M USD Point-in-time
Total assets Assets $879.37M USD Point-in-time
Total assets Assets $955.81M USD Point-in-time
Accounts payable AccountsPayableCurrent $80.53M USD Point-in-time
Accounts payable AccountsPayableCurrent $39.21M USD Point-in-time
Accrued employee compensation EmployeeRelatedLiabilitiesCurrent $14.21M USD Point-in-time
Accrued employee compensation EmployeeRelatedLiabilitiesCurrent $20.02M USD Point-in-time
Other accrued liabilities AccruedLiabilitiesCurrent $189.55M USD Point-in-time
Other accrued liabilities AccruedLiabilitiesCurrent $172.91M USD Point-in-time
Deferred revenue ContractWithCustomerLiabilityCurrent $6.67M USD Point-in-time
Deferred revenue ContractWithCustomerLiabilityCurrent $6.45M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $1.84M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $1.20M USD Point-in-time
Total current liabilities LiabilitiesCurrent $234.20M USD Point-in-time
Total current liabilities LiabilitiesCurrent $298.39M USD Point-in-time
Non-current income taxes payable AccruedIncomeTaxesNoncurrent $15.12M USD Point-in-time
Non-current income taxes payable AccruedIncomeTaxesNoncurrent $15.31M USD Point-in-time
Non-current operating lease liabilities OperatingLeaseLiabilityNoncurrent $25.43M USD Point-in-time
Non-current operating lease liabilities OperatingLeaseLiabilityNoncurrent $24.25M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $7.99M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $8.00M USD Point-in-time
Total liabilities Liabilities $281.58M USD Point-in-time
Total liabilities Liabilities $347.12M USD Point-in-time
Commitments and contingencies (Note 8) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note 8) CommitmentsAndContingencies - USD Point-in-time
Common stock CommonStockValue $30.00K USD Point-in-time
Common stock CommonStockValue $30.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $831.37M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $840.64M USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $371.00K USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $21.00K USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-243.25M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-222.72M USD Point-in-time
Total stockholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $608.69M USD Point-in-time
Total stockholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $597.79M USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $955.81M USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $879.37M USD Point-in-time
Income Statement 36 line items
Line Item Tag Value Unit Period
Net revenue RevenueFromContractWithCustomerExcludingAssessedTax $249.08M USD 1 Quarter
Net revenue RevenueFromContractWithCustomerExcludingAssessedTax $229.96M USD 1 Quarter
Cost of revenue CostOfGoodsAndServicesSold $167.07M USD 1 Quarter
Cost of revenue CostOfGoodsAndServicesSold $163.72M USD 1 Quarter
Gross profit GrossProfit $66.24M USD 1 Quarter
Gross profit GrossProfit $82.01M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $19.74M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $18.83M USD 1 Quarter
Sales and marketing SellingAndMarketingExpense $35.85M USD 1 Quarter
Sales and marketing SellingAndMarketingExpense $33.03M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $13.13M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $13.12M USD 1 Quarter
Other operating expenses (income), net OtherOperatingIncomeExpenseNet $-196.00K USD 1 Quarter
Other operating expenses (income), net OtherOperatingIncomeExpenseNet $332.00K USD 1 Quarter
Total operating expenses OperatingExpenses $65.57M USD 1 Quarter
Total operating expenses OperatingExpenses $68.00M USD 1 Quarter
Income from operations OperatingIncomeLoss $14.01M USD 1 Quarter
Income from operations OperatingIncomeLoss $669.00K USD 1 Quarter
Interest income, net InvestmentIncomeInterest $701.00K USD 1 Quarter
Interest income, net InvestmentIncomeInterest $262.00K USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $341.00K USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $-4.59M USD 1 Quarter
Income (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $15.05M USD 1 Quarter
Income (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-3.65M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $2.21M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $518.00K USD 1 Quarter
Net income (loss) ProfitLoss $12.84M USD 1 Quarter
Net income (loss) ProfitLoss $-4.17M USD 1 Quarter
Basic EarningsPerShareBasic $0.41 USD 1 Quarter
Basic EarningsPerShareBasic $-0.14 USD 1 Quarter
Diluted EarningsPerShareDiluted $-0.14 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.39 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 29.58M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 31.48M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 29.58M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 32.87M shares 1 Quarter
Cash Flow Statement 62 line items
Line Item Tag Value Unit Period
Net income (loss) ProfitLoss $12.84M USD 1 Quarter
Net income (loss) ProfitLoss $-4.17M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $5.03M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $4.63M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $6.34M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $6.46M USD 1 Quarter
Impairment of long-term investments AssetImpairmentCharges - USD 1 Quarter
Impairment of long-term investments AssetImpairmentCharges $4.53M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $1.15M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $1.04M USD 1 Quarter
Provision for excess and obsolete inventory InventoryWriteDown $2.40M USD 1 Quarter
Provision for excess and obsolete inventory InventoryWriteDown $945.00K USD 1 Quarter
Other OtherNoncashIncomeExpense $141.00K USD 1 Quarter
Other OtherNoncashIncomeExpense $222.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-19.59M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-41.14M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-6.80M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-52.48M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-6.80M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-453.00K USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-68.43M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-41.49M USD 1 Quarter
Accrued employee compensation IncreaseDecreaseInEmployeeRelatedLiabilities $-13.21M USD 1 Quarter
Accrued employee compensation IncreaseDecreaseInEmployeeRelatedLiabilities $-5.82M USD 1 Quarter
Other accrued liabilities IncreaseDecreaseInOtherAccruedLiabilities $-16.75M USD 1 Quarter
Other accrued liabilities IncreaseDecreaseInOtherAccruedLiabilities $-31.37M USD 1 Quarter
Deferred revenue IncreaseDecreaseInContractWithCustomerLiability $452.00K USD 1 Quarter
Deferred revenue IncreaseDecreaseInContractWithCustomerLiability $1.73M USD 1 Quarter
Income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $-816.00K USD 1 Quarter
Income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $-583.00K USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $29.00M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $-37.19M USD 1 Quarter
Purchases of short-term investments PaymentsToAcquireShortTermInvestments $126.00K USD 1 Quarter
Purchases of short-term investments PaymentsToAcquireShortTermInvestments $146.00K USD 1 Quarter
Proceeds from maturities of short-term investments ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments $47.15M USD 1 Quarter
Proceeds from maturities of short-term investments ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments $145.00K USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $1.27M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $5.96M USD 1 Quarter
Purchases of long-term investments PaymentsToAcquireOtherInvestments $5.20M USD 1 Quarter
Purchases of long-term investments PaymentsToAcquireOtherInvestments $250.00K USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $35.84M USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $-1.51M USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfCommonStock $15.00M USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfCommonStock $15.01M USD 1 Quarter
Restricted stock unit withholdings PaymentsRelatedToTaxWithholdingForShareBasedCompensation $1.35M USD 1 Quarter
Restricted stock unit withholdings PaymentsRelatedToTaxWithholdingForShareBasedCompensation $3.34M USD 1 Quarter
Proceeds from exercise of stock options ProceedsFromStockOptionsExercised $462.00K USD 1 Quarter
Proceeds from exercise of stock options ProceedsFromStockOptionsExercised $2.03M USD 1 Quarter
Proceeds from issuance of common stock under employee stock purchase plan ProceedsFromStockPlans $2.48M USD 1 Quarter
Proceeds from issuance of common stock under employee stock purchase plan ProceedsFromStockPlans $2.30M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-14.02M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-13.41M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $14.08M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-15.37M USD 1 Quarter
Cash and cash equivalents, at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $185.68M USD Point-in-time
Cash and cash equivalents, at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $201.05M USD Point-in-time
Cash and cash equivalents, at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $190.21M USD Point-in-time
Cash and cash equivalents, at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $204.29M USD Point-in-time
Cash and cash equivalents, at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $185.68M USD Point-in-time
Cash and cash equivalents, at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $201.05M USD Point-in-time
Cash and cash equivalents, at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $190.21M USD Point-in-time
Cash and cash equivalents, at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $204.29M USD Point-in-time
Stockholders Equity 25 line items
Line Item Tag Value Unit Period
Beginning balance StockholdersEquity $627.55M USD Point-in-time
Beginning balance StockholdersEquity $608.69M USD Point-in-time
Beginning balance StockholdersEquity $597.79M USD Point-in-time
Beginning balance StockholdersEquity $632.91M USD Point-in-time
Change in unrealized gains and losses on available-for-sale investments, net of tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $12.00K USD 1 Quarter
Change in unrealized gains and losses on derivatives, net of tax OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $17.00K USD 1 Quarter
Change in unrealized gains and losses on derivatives, net of tax OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $350.00K USD 1 Quarter
Net income (loss) NetIncomeLoss $12.84M USD 1 Quarter
Net income (loss) NetIncomeLoss $-4.17M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $6.34M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $6.46M USD 1 Quarter
Repurchase of common stock StockRepurchasedAndRetiredDuringPeriodValue $15.00M USD 1 Quarter
Repurchase of common stock StockRepurchasedAndRetiredDuringPeriodValue $15.01M USD 1 Quarter
Repurchase of common stock (in shares) StockRepurchasedAndRetiredDuringPeriodShares 400,000.00 shares 1 Quarter
Repurchase of common stock (in shares) StockRepurchasedAndRetiredDuringPeriodShares 600,000.00 shares 1 Quarter
Restricted stock unit withholdings AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $1.35M USD 1 Quarter
Restricted stock unit withholdings AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $3.34M USD 1 Quarter
Restricted stock unit withholdings (in shares) SharesPaidForTaxWithholdingForShareBasedCompensation 54,000.00 shares 1 Quarter
Restricted stock unit withholdings (in shares) SharesPaidForTaxWithholdingForShareBasedCompensation 89,000.00 shares 1 Quarter
Issuance of common stock under stock-based compensation plans StockIssuedDuringPeriodValueShareBasedCompensation $2.94M USD 1 Quarter
Issuance of common stock under stock-based compensation plans StockIssuedDuringPeriodValueShareBasedCompensation $4.37M USD 1 Quarter
Ending balance StockholdersEquity $627.55M USD Point-in-time
Ending balance StockholdersEquity $608.69M USD Point-in-time
Ending balance StockholdersEquity $597.79M USD Point-in-time
Ending balance StockholdersEquity $632.91M USD Point-in-time
Comprehensive Income 16 line items
Line Item Tag Value Unit Period
Net income (loss) ProfitLoss $12.84M USD 1 Quarter
Net income (loss) ProfitLoss $-4.17M USD 1 Quarter
Change in unrealized gains and losses on derivatives OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTax $403.00K USD 1 Quarter
Change in unrealized gains and losses on derivatives OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTax $23.00K USD 1 Quarter
Change in unrealized gains and losses on available-for-sale investments OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax $15.00K USD 1 Quarter
Change in unrealized gains and losses on available-for-sale investments OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax - USD 1 Quarter
Other comprehensive income, before tax OtherComprehensiveIncomeLossBeforeTax $403.00K USD 1 Quarter
Other comprehensive income, before tax OtherComprehensiveIncomeLossBeforeTax $38.00K USD 1 Quarter
Tax provision related to derivatives OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTax $6.00K USD 1 Quarter
Tax provision related to derivatives OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTax $53.00K USD 1 Quarter
Tax provision related to available-for-sale investments OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax - USD 1 Quarter
Tax provision related to available-for-sale investments OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax $3.00K USD 1 Quarter
Other comprehensive income, net of tax OtherComprehensiveIncomeLossNetOfTax $29.00K USD 1 Quarter
Other comprehensive income, net of tax OtherComprehensiveIncomeLossNetOfTax $350.00K USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $12.87M USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-3.82M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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