10-Q Filing

ARLO TECHNOLOGIES, INC. CIK: 1736946 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001736946-23-000022`
Period End Date	20230331
Filing Date	20230511
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	arlo-20230402_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 42 Cash Flow Statement 62 Stockholders Equity 14

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, authorized (in shares)	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Preferred stock, authorized (in shares)	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Preferred stock, issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$66.97M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$84.02M	USD	Point-in-time
Preferred stock, issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$100.97M	USD	Point-in-time
Preferred stock, outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Short-term investments	`AvailableForSaleSecuritiesDebtSecurities`	$51.70M	USD	Point-in-time
Short-term investments	`AvailableForSaleSecuritiesDebtSecurities`	$29.70M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$52.84M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$65.96M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Inventories	`InventoryNet`	$46.55M	USD	Point-in-time
Inventories	`InventoryNet`	$39.92M	USD	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	88.89M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$7.42M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$6.54M	USD	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	90.79M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$218.85M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$232.78M	USD	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	90.79M	shares	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	88.89M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$7.05M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$7.34M	USD	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$11.98M	USD	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$12.81M	USD	Point-in-time
Goodwill	`Goodwill`	$11.04M	USD	Point-in-time
Goodwill	`Goodwill`	$11.04M	USD	Point-in-time
Restricted cash	`RestrictedCashNoncurrent`	$4.11M	USD	Point-in-time
Restricted cash	`RestrictedCashNoncurrent`	$4.17M	USD	Point-in-time
Restricted cash	`RestrictedCashNoncurrent`	$4.16M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$4.08M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$3.98M	USD	Point-in-time
Total assets	`Assets`	$257.08M	USD	Point-in-time
Total assets	`Assets`	$272.20M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$52.13M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$46.03M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$11.29M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$15.18M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$88.22M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$98.86M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$162.28M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$149.42M	USD	Point-in-time
Non-current operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$19.28M	USD	Point-in-time
Non-current operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$18.17M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$2.95M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$3.24M	USD	Point-in-time
Total liabilities	`Liabilities`	$184.51M	USD	Point-in-time
Total liabilities	`Liabilities`	$170.83M	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock: $0.001 par value; 50,000,000 shares authorized; none issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock: $0.001 par value; 50,000,000 shares authorized; none issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock: $0.001 par value; 500,000,000 shares authorized; shares issued and outstanding: 90,785,158 at April 2, 2023 and 88,887,139 at December 31, 2022	`CommonStockValue`	$91.00K	USD	Point-in-time
Common stock: $0.001 par value; 500,000,000 shares authorized; shares issued and outstanding: 90,785,158 at April 2, 2023 and 88,887,139 at December 31, 2022	`CommonStockValue`	$89.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$433.14M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$445.81M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-107.00K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$21.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-359.67M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-345.43M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$112.65M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$112.00M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$87.69M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$86.25M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$272.20M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$257.08M	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Total revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$111.00M	USD	1 Quarter
Total revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$124.75M	USD	1 Quarter
Total cost of revenue	`CostOfGoodsAndServicesSold`	$91.18M	USD	1 Quarter
Total cost of revenue	`CostOfGoodsAndServicesSold`	$75.79M	USD	1 Quarter
Gross profit	`GrossProfit`	$33.58M	USD	1 Quarter
Gross profit	`GrossProfit`	$35.22M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$17.75M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$16.38M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$13.17M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$15.35M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$15.62M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$12.62M	USD	1 Quarter
Others	`OtherOperatingIncomeExpenseNet`	$-79.00K	USD	1 Quarter
Others	`OtherOperatingIncomeExpenseNet`	$-632.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$49.36M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$42.25M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-8.67M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-14.14M	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$726.00K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$-5.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-39.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$411.00K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-8.27M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-13.45M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$792.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$213.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-14.24M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.48M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.10	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.16	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.16	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.10	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	89.65M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	85.22M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	89.65M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	85.22M	shares	1 Quarter
Net loss	`NetIncomeLoss`	$-14.24M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.48M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-46.00K	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$128.00K	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-8.53M	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-14.12M	USD	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-14.24M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.48M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$14.59M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$9.59M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.30M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.15M	USD	1 Quarter
Allowance for credit losses and inventory reserves	`AccountsReceivableCreditLossExpenseReversalAndInventoryReservesNonCash`	$135.00K	USD	1 Quarter
Allowance for credit losses and inventory reserves	`AccountsReceivableCreditLossExpenseReversalAndInventoryReservesNonCash`	$-198.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-9.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$127.00K	USD	1 Quarter
Others	`OtherNoncashIncomeExpense`	$124.00K	USD	1 Quarter
Others	`OtherNoncashIncomeExpense`	$-28.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-13.22M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-1.51M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-1.49M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-6.34M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-556.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$900.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-6.09M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-15.68M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$-13.41M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$3.79M	USD	1 Quarter
Accrued and other liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-7.72M	USD	1 Quarter
Accrued and other liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-1.32M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$10.33M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-24.56M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$923.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$298.00K	USD	1 Quarter
Purchases of short-term investments	`PaymentsToAcquireShortTermInvestments`	$36.76M	USD	1 Quarter
Purchases of short-term investments	`PaymentsToAcquireShortTermInvestments`	$44.64M	USD	1 Quarter
Proceeds from maturities of short-term investments	`ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments`	-	USD	1 Quarter
Proceeds from maturities of short-term investments	`ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments`	$15.01M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-44.94M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-22.67M	USD	1 Quarter
Proceeds related to employee benefit plans	`ProceedsFromRepaymentOfLoansByEmployeeStockOwnershipPlans`	$3.00K	USD	1 Quarter
Proceeds related to employee benefit plans	`ProceedsFromRepaymentOfLoansByEmployeeStockOwnershipPlans`	$1.39M	USD	1 Quarter
Restricted stock unit withholdings	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$6.66M	USD	1 Quarter
Restricted stock unit withholdings	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$4.69M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-4.69M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-5.27M	USD	1 Quarter
Net decrease in cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-74.77M	USD	1 Quarter
Net decrease in cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-17.03M	USD	1 Quarter
Cash, cash equivalents, and restricted cash, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$105.09M	USD	Point-in-time
Cash, cash equivalents, and restricted cash, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$179.86M	USD	Point-in-time
Cash, cash equivalents, and restricted cash, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$71.14M	USD	Point-in-time
Cash, cash equivalents, and restricted cash, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$88.18M	USD	Point-in-time
Cash, cash equivalents, and restricted cash, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$105.09M	USD	Point-in-time
Cash, cash equivalents, and restricted cash, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$179.86M	USD	Point-in-time
Cash, cash equivalents, and restricted cash, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$71.14M	USD	Point-in-time
Cash, cash equivalents, and restricted cash, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$88.18M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$66.97M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$84.02M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$100.97M	USD	Point-in-time
Restricted cash	`RestrictedCashNoncurrent`	$4.11M	USD	Point-in-time
Restricted cash	`RestrictedCashNoncurrent`	$4.17M	USD	Point-in-time
Restricted cash	`RestrictedCashNoncurrent`	$4.16M	USD	Point-in-time
Total cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$105.09M	USD	Point-in-time
Total cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$179.86M	USD	Point-in-time
Total cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$71.14M	USD	Point-in-time
Total cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$88.18M	USD	Point-in-time
Purchases of property and equipment included in accounts payable and accrued liabilities	`CapitalExpendituresIncurredButNotYetPaid`	$310.00K	USD	1 Quarter
Purchases of property and equipment included in accounts payable and accrued liabilities	`CapitalExpendituresIncurredButNotYetPaid`	$894.00K	USD	1 Quarter

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$112.65M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$112.00M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$87.69M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$86.25M	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-14.24M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.48M	USD	1 Quarter
Ending balance	`StockholdersEquity`	$112.65M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$112.00M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$87.69M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$86.25M	USD	Point-in-time
Beginning balance (in shares)	`CommonStockSharesOutstanding`	90.79M	shares	Point-in-time
Beginning balance (in shares)	`CommonStockSharesOutstanding`	88.89M	shares	Point-in-time
Ending balance (in shares)	`CommonStockSharesOutstanding`	90.79M	shares	Point-in-time
Ending balance (in shares)	`CommonStockSharesOutstanding`	88.89M	shares	Point-in-time

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