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10-Q Filing

NETGEAR, INC. CIK: 1122904 Q1 2022
Filing Information
Form Type 10-Q
Accession Number 0001564590-22-018587
Period End Date 20220331
Filing Date 20220506
Fiscal Year 2022
Fiscal Period Q1
XBRL Instance ntgr-10q_20220403_htm.xml
Balance Sheet 60 line items
Line Item Tag Value Unit Period
Accounts receivable, net of allowance for doubtful accounts of $399 as of each of April 3, 2022, and December 31, 2021,respectively AllowanceForDoubtfulAccountsReceivableCurrent $399.00K USD Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $399 as of each of April 3, 2022, and December 31, 2021,respectively AllowanceForDoubtfulAccountsReceivableCurrent $399.00K USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $206.83M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $263.77M USD Point-in-time
Short-term investments ShortTermInvestments $7.74M USD Point-in-time
Short-term investments ShortTermInvestments $56.96M USD Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $399 as of each of April 3, 2022, and December 31, 2021 AccountsReceivableNetCurrent $261.16M USD Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $399 as of each of April 3, 2022, and December 31, 2021 AccountsReceivableNetCurrent $219.91M USD Point-in-time
Inventories InventoryNet $315.67M USD Point-in-time
Inventories InventoryNet $327.31M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $34.75M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $27.13M USD Point-in-time
Total current assets AssetsCurrent $883.09M USD Point-in-time
Total current assets AssetsCurrent $838.14M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $11.98M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $13.34M USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $23.18M USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $42.01M USD Point-in-time
Intangibles, net IntangibleAssetsNetExcludingGoodwill $1.86M USD Point-in-time
Intangibles, net IntangibleAssetsNetExcludingGoodwill $1.72M USD Point-in-time
Goodwill Goodwill $80.72M USD Point-in-time
Goodwill Goodwill $36.28M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $83.91M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $76.35M USD Point-in-time
Total assets Assets $1.08B USD Point-in-time
Total assets Assets $1.01B USD Point-in-time
Accounts payable AccountsPayableCurrent $64.80M USD Point-in-time
Accounts payable AccountsPayableCurrent $73.73M USD Point-in-time
Accrued employee compensation EmployeeRelatedLiabilitiesCurrent $24.70M USD Point-in-time
Accrued employee compensation EmployeeRelatedLiabilitiesCurrent $20.96M USD Point-in-time
Other accrued liabilities AccruedLiabilitiesCurrent $212.27M USD Point-in-time
Other accrued liabilities AccruedLiabilitiesCurrent $224.58M USD Point-in-time
Deferred revenue ContractWithCustomerLiabilityCurrent $17.86M USD Point-in-time
Deferred revenue ContractWithCustomerLiabilityCurrent $16.50M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $1.64M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $1.53M USD Point-in-time
Total current liabilities LiabilitiesCurrent $341.05M USD Point-in-time
Total current liabilities LiabilitiesCurrent $317.53M USD Point-in-time
Non-current income taxes payable AccruedIncomeTaxesNoncurrent $18.99M USD Point-in-time
Non-current income taxes payable AccruedIncomeTaxesNoncurrent $19.15M USD Point-in-time
Non-current operating lease liabilities OperatingLeaseLiabilityNoncurrent $18.57M USD Point-in-time
Non-current operating lease liabilities OperatingLeaseLiabilityNoncurrent $36.89M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $3.11M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $3.45M USD Point-in-time
Total liabilities Liabilities $377.02M USD Point-in-time
Total liabilities Liabilities $381.72M 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 $29.00K USD Point-in-time
Common stock CommonStockValue $29.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $923.23M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $931.28M USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $156.00K USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $149.00K USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-294.44M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-226.59M USD Point-in-time
Total stockholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $696.82M USD Point-in-time
Total stockholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $637.02M USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $1.01B USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $1.08B 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 $210.56M USD 1 Quarter
Cost of revenue CostOfGoodsAndServicesSold $151.66M USD 1 Quarter
Cost of revenue CostOfGoodsAndServicesSold $206.98M USD 1 Quarter
Gross profit GrossProfit $58.90M USD 1 Quarter
Gross profit GrossProfit $110.94M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $23.82M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $23.83M USD 1 Quarter
Sales and marketing SellingAndMarketingExpense $37.81M USD 1 Quarter
Sales and marketing SellingAndMarketingExpense $35.59M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $13.60M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $15.40M USD 1 Quarter
Goodwill impairment charge GoodwillImpairmentLoss $44.44M USD 1 Quarter
Goodwill impairment charge GoodwillImpairmentLoss - USD 1 Quarter
Other operating expenses (income), net OtherOperatingIncomeExpenseNet $-2.56M USD 1 Quarter
Other operating expenses (income), net OtherOperatingIncomeExpenseNet $3.00K USD 1 Quarter
Total operating expenses OperatingExpenses $79.61M USD 1 Quarter
Total operating expenses OperatingExpenses $117.45M USD 1 Quarter
Income (loss) from operations OperatingIncomeLoss $31.33M USD 1 Quarter
Income (loss) from operations OperatingIncomeLoss $-58.55M USD 1 Quarter
Other income (expenses), net OtherNonoperatingIncomeExpense $-982.00K USD 1 Quarter
Other income (expenses), net OtherNonoperatingIncomeExpense $-552.00K USD 1 Quarter
Income (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $30.77M USD 1 Quarter
Income (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-59.53M USD 1 Quarter
Provision for (benefit from) income taxes IncomeTaxExpenseBenefit $7.82M USD 1 Quarter
Provision for (benefit from) income taxes IncomeTaxExpenseBenefit $-2.32M USD 1 Quarter
Net income (loss) NetIncomeLoss $-57.21M USD 1 Quarter
Net income (loss) NetIncomeLoss $22.96M USD 1 Quarter
Basic EarningsPerShareBasic $0.75 USD 1 Quarter
Basic EarningsPerShareBasic $-1.95 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.72 USD 1 Quarter
Diluted EarningsPerShareDiluted $-1.95 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 29.35M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 30.66M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 29.35M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 31.81M shares 1 Quarter
Cash Flow Statement 64 line items
Line Item Tag Value Unit Period
Net income (loss) NetIncomeLoss $-57.21M USD 1 Quarter
Net income (loss) NetIncomeLoss $22.96M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $4.66M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $2.81M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $6.96M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $4.70M USD 1 Quarter
Gain/loss on investments, net GainLossOnInvestments $-49.00K USD 1 Quarter
Gain/loss on investments, net GainLossOnInvestments $-622.00K USD 1 Quarter
Goodwill impairment charge GoodwillImpairmentLoss $44.44M USD 1 Quarter
Goodwill impairment charge GoodwillImpairmentLoss - USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-7.63M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $2.80M USD 1 Quarter
Provision for excess and obsolete inventory InventoryWriteDown $1.46M USD 1 Quarter
Provision for excess and obsolete inventory InventoryWriteDown $1.20M USD 1 Quarter
Accounts receivable, net IncreaseDecreaseInAccountsReceivable $-41.25M USD 1 Quarter
Accounts receivable, net IncreaseDecreaseInAccountsReceivable $-24.13M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $13.10M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $44.79M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-7.89M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $1.88M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-3.20M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-9.01M USD 1 Quarter
Accrued employee compensation IncreaseDecreaseInEmployeeRelatedLiabilities $-3.74M USD 1 Quarter
Accrued employee compensation IncreaseDecreaseInEmployeeRelatedLiabilities $-8.37M USD 1 Quarter
Other accrued liabilities IncreaseDecreaseInOtherAccruedLiabilities $-13.15M USD 1 Quarter
Other accrued liabilities IncreaseDecreaseInOtherAccruedLiabilities $1.43M USD 1 Quarter
Deferred revenue IncreaseDecreaseInContractWithCustomerLiability $1.71M USD 1 Quarter
Deferred revenue IncreaseDecreaseInContractWithCustomerLiability $1.49M USD 1 Quarter
Income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $6.29M USD 1 Quarter
Income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $273.00K USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $13.74M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $1.29M USD 1 Quarter
Purchases of short-term investments PaymentsToAcquireShortTermInvestments $50.20M USD 1 Quarter
Purchases of short-term investments PaymentsToAcquireShortTermInvestments $7.00K USD 1 Quarter
Proceeds from maturities/sale of short-term investments ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments $417.00K USD 1 Quarter
Proceeds from maturities/sale of short-term investments ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments $165.00K USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $957.00K 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 $210.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-50.95M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-1.77M USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfCommonStock $9.38M 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 $1.26M USD 1 Quarter
Proceeds from exercise of stock options ProceedsFromStockOptionsExercised $593.00K USD 1 Quarter
Proceeds from exercise of stock options ProceedsFromStockOptionsExercised $4.15M 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 $2.76M 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 $-7.29M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-56.95M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $17.05M USD 1 Quarter
Cash and cash equivalents, at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $346.46M USD Point-in-time
Cash and cash equivalents, at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $206.83M USD Point-in-time
Cash and cash equivalents, at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $263.77M USD Point-in-time
Cash and cash equivalents, at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $363.51M USD Point-in-time
Cash and cash equivalents, at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $346.46M USD Point-in-time
Cash and cash equivalents, at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $206.83M USD Point-in-time
Cash and cash equivalents, at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $263.77M USD Point-in-time
Cash and cash equivalents, at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $363.51M USD Point-in-time
Unpaid property and equipment CapitalExpendituresIncurredButNotYetPaid $1.67M USD 1 Quarter
Unpaid property and equipment CapitalExpendituresIncurredButNotYetPaid $889.00K USD 1 Quarter
Stockholders Equity 24 line items
Line Item Tag Value Unit Period
Beginning balance StockholdersEquity $689.38M USD Point-in-time
Beginning balance StockholdersEquity $637.02M USD Point-in-time
Beginning balance StockholdersEquity $724.42M USD Point-in-time
Beginning balance StockholdersEquity $696.82M USD Point-in-time
Change in unrealized gains and losses on available-for-sale investments, net of tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $-37.00K USD 1 Quarter
Change in unrealized gains and losses on derivatives, net of tax OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $41.00K USD 1 Quarter
Change in unrealized gains and losses on derivatives, net of tax OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $44.00K USD 1 Quarter
Net income (loss) NetIncomeLoss $-57.21M USD 1 Quarter
Net income (loss) NetIncomeLoss $22.96M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $4.70M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $6.96M USD 1 Quarter
Repurchase of common stock StockRepurchasedAndRetiredDuringPeriodValue $9.38M USD 1 Quarter
Repurchase of common stock (in shares) StockRepurchasedAndRetiredDuringPeriodShares 400,000.00 shares 1 Quarter
Repurchase of common stock (in shares) StockRepurchasedAndRetiredDuringPeriodShares 0.00 shares 1 Quarter
Restricted stock unit withholdings AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $1.96M USD 1 Quarter
Restricted stock unit withholdings AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $1.26M USD 1 Quarter
Restricted stock unit withholdings (in shares) SharesPaidForTaxWithholdingForShareBasedCompensation 48,000.00 shares 1 Quarter
Restricted stock unit withholdings (in shares) SharesPaidForTaxWithholdingForShareBasedCompensation 46,000.00 shares 1 Quarter
Issuance of common stock under stock-based compensation plans StockIssuedDuringPeriodValueShareBasedCompensation $7.04M USD 1 Quarter
Issuance of common stock under stock-based compensation plans StockIssuedDuringPeriodValueShareBasedCompensation $3.35M USD 1 Quarter
Ending balance StockholdersEquity $689.38M USD Point-in-time
Ending balance StockholdersEquity $637.02M USD Point-in-time
Ending balance StockholdersEquity $724.42M USD Point-in-time
Ending balance StockholdersEquity $696.82M USD Point-in-time
Comprehensive Income 16 line items
Line Item Tag Value Unit Period
Net income (loss) NetIncomeLoss $-57.21M USD 1 Quarter
Net income (loss) NetIncomeLoss $22.96M USD 1 Quarter
Change in unrealized gains and losses on derivatives OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTax $47.00K USD 1 Quarter
Change in unrealized gains and losses on derivatives OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTax $45.00K USD 1 Quarter
Change in unrealized gains and losses on available-for-sale investments OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax - USD 1 Quarter
Change in unrealized gains and losses on available-for-sale investments OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax $-49.00K USD 1 Quarter
Other comprehensive income (loss), before tax OtherComprehensiveIncomeLossBeforeTax $-4.00K USD 1 Quarter
Other comprehensive income (loss), before tax OtherComprehensiveIncomeLossBeforeTax $47.00K USD 1 Quarter
Tax provision related to derivatives OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTax $6.00K USD 1 Quarter
Tax provision related to derivatives OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTax $1.00K USD 1 Quarter
Tax benefit related to available-for-sale investments OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax $-12.00K USD 1 Quarter
Tax benefit related to available-for-sale investments OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax - USD 1 Quarter
Other comprehensive income, net of tax OtherComprehensiveIncomeLossNetOfTax $41.00K USD 1 Quarter
Other comprehensive income, net of tax OtherComprehensiveIncomeLossNetOfTax $7.00K USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $23.00M USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-57.20M USD 1 Quarter

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

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