Arlo Reports Fourth Quarter 2020 and Full Year 2020 Results

SAN JOSE, Calif.–(BUSINESS WIRE)–Arlo Technologies, Inc. (NYSE: ARLO), a leading internet-connected security camera brand, today reported financial results for the fourth quarter and fiscal year ended December 31, 2020.

Financial Highlights ⁽¹⁾

• Fourth quarter revenue of $114.8 million, a decrease of 6.2% year over year.
• Fourth quarter GAAP gross profit of $24.5 million, an increase of 79.0% year over year; non-GAAP gross profit of $25.7 million, an increase of 73.0% year over year.
• Fourth quarter GAAP gross margin of 21.4%; non-GAAP gross margin of 22.4%.
• Fourth quarter GAAP net loss per diluted share of $(0.19); non-GAAP net loss per diluted share of $(0.08).
• 2020 revenue of $357.2 million, a decrease of 3.5%…