NTGR
NETGEAR, Inc.24.07
+0.55+2.34%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Memory risks, mitigations, regulatory updates
Q&A offered candid detail on memory shortages, with management framing consensus estimates as reasonable amid back-half consumer risks, while detailing mitigations like cost-sharing, promotion cuts, and enterprise price hikes matching competitors. Regulatory tailwinds gained momentum, citing FTC scrutiny of TP-Link, Texas ban, and new FCC foreign adversary rules. ProAV supply normalized ahead of schedule, with >25% sell-through growth and wins like Topgolf and NATO. Enterprise stays full steam ahead; consumer faces softer Q1 demand. Q&A largely reinforced prepared remarks. Memory mitigation matters for the thesis.
Key Stats
Market Cap
698.24MP/E (TTM)
-Basic EPS (TTM)
-0.90Dividend Yield
0%Recent Filings
10-K
FY2025 results
NETGEAR posted FY2025 net revenue of $699.6M, up 3.8% y/y, with Enterprise surging 18.8% to $342.0M on double-digit Pro AV switch demand and higher ASPs, offsetting Consumer's 7.3% drop to $357.6M from service provider weakness. Q4 Enterprise momentum accelerated sequentially, driving 890bps gross margin expansion to 38.0% via favorable mix and lower inventory charges. Contribution margins leaped to 22.4% in Enterprise, 2.4% in Consumer. Opportunistic buybacks retired 1.9M shares for $50M. Supply shortages from sole-source components risk Q4 momentum.
8-K
Q4 margins soar, Enterprise grows
NETGEAR reported Q4 revenue flat at $182.5M but smashed gross margins to record GAAP 40.4% and non-GAAP 41.2%, fueled by Enterprise's 10.6% growth to $89.4M. Full-year revenue rose 3.8% to $699.6M, first growth in five years, after repurchasing $50M in shares. Enterprise crushes it. Q1 outlook softens to $145M-$160M amid memory costs and service provider weakness.
10-Q
Q3 FY2025 results
NETGEAR posted Q3 revenue of $184.6M, up 0.9% y/y but flat q/q (derived), with gross margin leaping to 39.1% from 30.9% y/y on Enterprise strength and lower inventory costs—Enterprise hit $90.8M (+15.7% y/y, 51.0% margin), while Home Networking dipped to $72.6M (-6.6% y/y) and Mobile to $21.1M (-20.7% y/y). Operating loss narrowed to $7.1M from $95.8M profit y/y, hit by absent litigation gains and higher G&A; diluted EPS -$0.17 aligns with 28.6M shares (anti-dilutive). Cash fell to $203.5M plus $122.9M short-term investments after $17.9M operating outflow and $35.7M buybacks; closed Exium in June 2025 for $12.6M (cash/holdback), adding $9.5M Enterprise goodwill and $4.2M intangibles (7-year life). Free cash flow not disclosed in the 10-Q. Enterprise powers ahead.
8-K
Q3 beats with Enterprise surge
NETGEAR posted Q3 revenue of $184.6M, up 0.9% year-over-year, with record non-GAAP gross margin of 39.6% and non-GAAP operating income of $3.8M. Enterprise surged 15.7% to $90.8M, fueled by ProAV demand, while Home and Mobile dipped. Repurchased $20M in shares. Q4 outlook: revenue $170-185M, non-GAAP op margin -2.0% to 1.0%. Supply headwinds persist.
10-Q
Q2 FY2025 results
NETGEAR posted Q2 revenue of $170.5M, up 18.5% y/y from $143.9M yet down q/q (derived) from Q1's $162.1M, with gross margin leaping to 37.5% from 22.1% on better Business mix and lower returns. Operating loss narrowed to $9.5M from $46.9M y/y, diluted EPS -$0.22 vs -$1.56, reconciling to 28.9M shares; YTD loss -$12.5M beat prior -$63.8M. Business segment surged 38% to $82.6M on Pro AV demand; closed Exium in June 2025 for $12.5M cash ($9.5M goodwill, $4.3M intangibles over 7 years). Cash fell to $241M, no debt; FCF not disclosed in the 10-Q. Channel inventory swings pose risks.
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