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10-Q Filing

NETGEAR, INC. CIK: 1122904 Q1 2021
Filing Information
Form Type 10-Q
Accession Number 0001564590-21-022544
Period End Date 20210331
Filing Date 20210430
Fiscal Year 2021
Fiscal Period Q1
XBRL Instance ntgr-10q_20210328_htm.xml
Balance Sheet 60 line items
Line Item Tag Value Unit Period
Accounts receivable, net of allowance for doubtful accounts of $1,081 as of March 28, 2021 and December 31, 2020 AllowanceForDoubtfulAccountsReceivableCurrent $1.08M USD Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $1,081 as of March 28, 2021 and December 31, 2020 AllowanceForDoubtfulAccountsReceivableCurrent $1.08M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $346.46M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $363.51M USD Point-in-time
Short-term investments ShortTermInvestments $6.86M USD Point-in-time
Short-term investments ShortTermInvestments $7.14M USD Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $1,081 as of March 28, 2021 and December 31, 2020 AccountsReceivableNetCurrent $312.92M USD Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $1,081 as of March 28, 2021 and December 31, 2020 AccountsReceivableNetCurrent $337.05M USD Point-in-time
Inventories InventoryNet $215.71M USD Point-in-time
Inventories InventoryNet $172.11M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $31.59M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $30.70M USD Point-in-time
Total current assets AssetsCurrent $930.88M USD Point-in-time
Total current assets AssetsCurrent $893.18M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $16.08M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $14.90M USD Point-in-time
Operating lease right-of-use assets, net OperatingLeaseRightOfUseAsset $27.74M USD Point-in-time
Operating lease right-of-use assets, net OperatingLeaseRightOfUseAsset $29.41M USD Point-in-time
Intangibles, net IntangibleAssetsNetExcludingGoodwill $3.90M USD Point-in-time
Intangibles, net IntangibleAssetsNetExcludingGoodwill $2.41M 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 $82.75M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $80.77M USD Point-in-time
Total assets Assets $1.11B USD Point-in-time
Total assets Assets $1.14B USD Point-in-time
Accounts payable AccountsPayableCurrent $87.35M USD Point-in-time
Accounts payable AccountsPayableCurrent $90.90M USD Point-in-time
Accrued employee compensation EmployeeRelatedLiabilitiesCurrent $26.65M USD Point-in-time
Accrued employee compensation EmployeeRelatedLiabilitiesCurrent $35.02M USD Point-in-time
Other accrued liabilities AccruedLiabilitiesCurrent $220.32M USD Point-in-time
Other accrued liabilities AccruedLiabilitiesCurrent $218.38M USD Point-in-time
Deferred revenue ContractWithCustomerLiabilityCurrent $15.13M USD Point-in-time
Deferred revenue ContractWithCustomerLiabilityCurrent $13.46M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $11.88M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $7.32M USD Point-in-time
Total current liabilities LiabilitiesCurrent $365.07M USD Point-in-time
Total current liabilities LiabilitiesCurrent $361.33M USD Point-in-time
Non-current income taxes payable AccruedIncomeTaxesNoncurrent $20.91M USD Point-in-time
Non-current income taxes payable AccruedIncomeTaxesNoncurrent $19.17M USD Point-in-time
Non-current operating lease liabilities OperatingLeaseLiabilityNoncurrent $24.05M USD Point-in-time
Non-current operating lease liabilities OperatingLeaseLiabilityNoncurrent $25.51M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $6.71M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $6.90M USD Point-in-time
Total liabilities Liabilities $416.65M USD Point-in-time
Total liabilities Liabilities $412.99M 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 $31.00K USD Point-in-time
Common stock CommonStockValue $30.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $896.71M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $882.71M USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $6.00K USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-35.00K USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-193.32M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-172.32M USD Point-in-time
Total stockholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $689.38M USD Point-in-time
Total stockholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $724.42M USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $1.14B USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $1.11B USD Point-in-time
Income Statement 36 line items
Line Item Tag Value Unit Period
Net revenue RevenueFromContractWithCustomerExcludingAssessedTax $317.93M USD 1 Quarter
Net revenue RevenueFromContractWithCustomerExcludingAssessedTax $229.96M USD 1 Quarter
Cost of revenue CostOfGoodsAndServicesSold $163.72M USD 1 Quarter
Cost of revenue CostOfGoodsAndServicesSold $206.98M USD 1 Quarter
Gross profit GrossProfit $66.24M USD 1 Quarter
Gross profit GrossProfit $110.94M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $23.83M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $19.74M USD 1 Quarter
Sales and marketing SellingAndMarketingExpense $37.81M USD 1 Quarter
Sales and marketing SellingAndMarketingExpense $33.03M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $15.40M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $13.13M USD 1 Quarter
Other operating expenses (income), net OtherOperatingIncomeExpenseNet $332.00K USD 1 Quarter
Other operating expenses (income), net OtherOperatingIncomeExpenseNet $-2.56M USD 1 Quarter
Total operating expenses OperatingExpenses $79.61M USD 1 Quarter
Total operating expenses OperatingExpenses $65.57M USD 1 Quarter
Income from operations OperatingIncomeLoss $31.33M USD 1 Quarter
Income from operations OperatingIncomeLoss $669.00K USD 1 Quarter
Interest income InvestmentIncomeInterest $262.00K USD 1 Quarter
Interest income InvestmentIncomeInterest $10.00K USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $-4.59M USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $-562.00K USD 1 Quarter
Income (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $30.77M USD 1 Quarter
Income (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-3.65M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $518.00K USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $7.82M USD 1 Quarter
Net income (loss) ProfitLoss $-4.17M USD 1 Quarter
Net income (loss) ProfitLoss $22.96M USD 1 Quarter
Basic EarningsPerShareBasic $0.75 USD 1 Quarter
Basic EarningsPerShareBasic $-0.14 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.72 USD 1 Quarter
Diluted EarningsPerShareDiluted $-0.14 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 30.66M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 29.58M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 31.81M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 29.58M shares 1 Quarter
Cash Flow Statement 60 line items
Line Item Tag Value Unit Period
Net income (loss) ProfitLoss $-4.17M USD 1 Quarter
Net income (loss) ProfitLoss $22.96M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $4.63M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $4.66M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $6.96M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $6.34M USD 1 Quarter
Gain/loss on investments, net GainLossOnInvestments $-4.53M USD 1 Quarter
Gain/loss on investments, net GainLossOnInvestments $-49.00K USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $1.04M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $2.80M USD 1 Quarter
Provision for excess and obsolete inventory InventoryWriteDown $2.40M USD 1 Quarter
Provision for excess and obsolete inventory InventoryWriteDown $1.20M USD 1 Quarter
Other OtherNoncashIncomeExpense - USD 1 Quarter
Other OtherNoncashIncomeExpense $222.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-24.13M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-19.59M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $44.79M 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 $1.88M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-41.49M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-3.20M USD 1 Quarter
Accrued employee compensation IncreaseDecreaseInEmployeeRelatedLiabilities $-8.37M 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 $1.43M USD 1 Quarter
Deferred revenue IncreaseDecreaseInContractWithCustomerLiability $452.00K USD 1 Quarter
Deferred revenue IncreaseDecreaseInContractWithCustomerLiability $1.49M USD 1 Quarter
Income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $-816.00K USD 1 Quarter
Income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $6.29M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $29.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $13.74M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $1.27M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $1.59M USD 1 Quarter
Purchases of long-term investments PaymentsToAcquireOtherInvestments $340.00K USD 1 Quarter
Purchases of long-term investments PaymentsToAcquireOtherInvestments $250.00K USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $-158.00K USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $-19.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-1.77M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-1.51M USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfCommonStock $15.01M USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfCommonStock - USD 1 Quarter
Restricted stock unit withholdings PaymentsRelatedToTaxWithholdingForShareBasedCompensation $1.96M USD 1 Quarter
Restricted stock unit withholdings PaymentsRelatedToTaxWithholdingForShareBasedCompensation $1.35M USD 1 Quarter
Proceeds from exercise of stock options ProceedsFromStockOptionsExercised $4.15M USD 1 Quarter
Proceeds from exercise of stock options ProceedsFromStockOptionsExercised $462.00K USD 1 Quarter
Proceeds from issuance of common stock under employee stock purchase plan ProceedsFromStockPlans $2.90M USD 1 Quarter
Proceeds from issuance of common stock under employee stock purchase plan ProceedsFromStockPlans $2.48M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $5.09M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-13.41M USD 1 Quarter
Net increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $14.08M USD 1 Quarter
Net increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $17.05M USD 1 Quarter
Cash and cash equivalents, at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $363.51M 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 beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $346.46M USD Point-in-time
Cash and cash equivalents, at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $363.51M 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
Cash and cash equivalents, at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $346.46M USD Point-in-time
Stockholders Equity 23 line items
Line Item Tag Value Unit Period
Beginning balance StockholdersEquity $724.42M 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 $689.38M USD Point-in-time
Change in unrealized gains and losses on derivatives, net of tax OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $350.00K USD 1 Quarter
Change in unrealized gains and losses on derivatives, net of tax OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $41.00K USD 1 Quarter
Net income (loss) NetIncomeLoss $22.96M 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 $6.96M USD 1 Quarter
Repurchase of common stock StockRepurchasedAndRetiredDuringPeriodValue $15.01M USD 1 Quarter
Repurchase of common stock (in shares) StockRepurchasedAndRetiredDuringPeriodShares 0.00 shares 1 Quarter
Repurchase of common stock (in shares) StockRepurchasedAndRetiredDuringPeriodShares 600,000.00 shares 1 Quarter
Restricted stock unit withholdings AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $1.96M USD 1 Quarter
Restricted stock unit withholdings AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $1.35M USD 1 Quarter
Restricted stock unit withholdings (in shares) SharesPaidForTaxWithholdingForShareBasedCompensation 54,000.00 shares 1 Quarter
Restricted stock unit withholdings (in shares) SharesPaidForTaxWithholdingForShareBasedCompensation 48,000.00 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 $7.04M USD 1 Quarter
Ending balance StockholdersEquity $724.42M 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 $689.38M USD Point-in-time
Comprehensive Income 12 line items
Line Item Tag Value Unit Period
Net income (loss) ProfitLoss $-4.17M USD 1 Quarter
Net income (loss) ProfitLoss $22.96M 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 $47.00K USD 1 Quarter
Other comprehensive income, before tax OtherComprehensiveIncomeLossBeforeTax $47.00K USD 1 Quarter
Other comprehensive income, before tax OtherComprehensiveIncomeLossBeforeTax $403.00K 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
Other comprehensive income, net of tax OtherComprehensiveIncomeLossNetOfTax $41.00K USD 1 Quarter
Other comprehensive income, net of tax OtherComprehensiveIncomeLossNetOfTax $350.00K USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $23.00M 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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