Netgear Spinoff Arlo, Sales Rising, Has Shipped 7.5 Million Connected Devices
Arlo has shipped more than 7.5 million connected devices, and its smart platform had over 1.9 million registered users as of April 1, said an S-1 SEC registration statement. Its Netgear spinoff was the consumer network connected camera systems market…
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leader in the U.S. in Q1 with a 40 percent share by point-of-sale dollars, it said, citing NPD figures, and likely will remain a “controlled company” under the New York Stock Exchange rules, with Netgear as majority owner, said the filing. The document was signed by Matthew McRae, former chief technology officer of Vizio, named Arlo CEO in February. Patrick Lo will remain CEO of Netgear, it said. Revenue last year was $370.7 million, up from $184.6 million in 2016. Income from operations last year was $5.7 million compared with a $13.1 million loss from operations.