Netgear's Arlo files for IPO

News Broadband Global 9 JUL 2018
Netgear's Arlo files for IPO
Netgear unit Arlo has filed for an initial public offering at the New York Stock Exchange. The number of shares to be offered and the price range for the offering have yet to be determined. 

Netgear announced it was separating its Arlo security camera operations from the main business in February. The company said at the time that Matthew McRae will lead the new company.

According to a SEC filing, Arlo has shipped 7.5 million devices to date and has 1.9 million registered users. The company claims a 40 percent share of the US consumer connected camera market, based on NPD data for the first quarter.

Arlo passed USD 100 million in revenues in the first quarter of this year, up from USD 61.8 million in the same period of 2017. The company generated a net loss of USD 5.4 million from the quarter, including USD 6.6 million in costs for the separation from Netgear.  

Categories:

Fixed

Companies:

Netgear,  Arlo

Regions:

Global

Tags:

Corporate strategy, Financial funding

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