NEWS RELEASE

Arlo Reports Second Quarter 2025 Results

Annual recurring revenue (ARR)(1) ended at $316 million, growing 34% year over year

Record subscriptions and services revenue of $78 million, growing 30% year over year

Record GAAP subscriptions and services gross margin of 84%; record non-GAAP subscriptions and services gross margin of 85%

Record adjusted EBITDA(2) of $18 million; record adjusted EBITDA margin of 14%

Record GAAP net income per share (EPS) of $0.03; record non-GAAP EPS of $0.17

Carlsbad, California – August 7, 2025 – Arlo Technologies, Inc. (NYSE: ARLO), a leading smart home security platform company, today reported financial results for the second quarter ended June 29, 2025.

“The launch of our new AI platform, Arlo Secure 6, earlier this year is driving growth in our subscriptions business and propelling the company to record financial results. Subscriptions and services revenue grew 30% to $78 million and ARR increased to $316 million, up 34% year over year. Non-GAAP subscriptions and services gross margin reached 85%, an increase of 850 basis points year over year, and contributed to a record GAAP net income per share of $0.03,” said Matthew McRae, Chief Executive Officer of Arlo Technologies. “This subscription momentum coupled with our Holiday product launches and announcement of ADT as a strategic partner positions Arlo for continuing success.”

Financial Highlights

•Ended the quarter with ARR(1) of $315.7 million, growing 34.3% year over year.

•Record subscriptions and services revenue of $78.2 million, an increase of 29.7% year over year and accounting for 60.4% of total revenues.

•Record GAAP subscriptions and services gross margin of 84.3% and non-GAAP subscriptions and services gross margin of 84.9%; each up 850 basis points year over year.

•Record GAAP gross margin of 44.9% and non-GAAP gross margin of 45.8%; each up approximately 800 basis points year over year.

•Record adjusted EBITDA(2) of $18.0 million, up 82.3% year over year with record adjusted EBITDA margin of 13.9%.

•Record GAAP net income per share of $0.03 and non-GAAP net income per share of $0.17.

•Cumulative paid accounts increased to 5.1 million, growing 28.5% year over year.

•Free cash flow (FCF)(3) of $34.0 million with FCF margin of 13.7% in the first half of 2025.

•Ended with cash and cash equivalents and short-term investments balance of $160.4 million, up $16.4 million year over year.

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	Three Months Ended									Six Months Ended
	June 29, 2025			March 30, 2025			June 30, 2024			June 29, 2025			June 30, 2024
	(In thousands, except percentage and per share data)
Revenue	$	129,405		$	119,066		$	127,447		$	248,471		$	251,647
GAAP gross margin	44.9		%	44.3		%	36.8		%	44.6		%	37.4		%
Non-GAAP gross margin (2)	45.8		%	45.5		%	37.9		%	45.7		%	38.6		%
GAAP net income (loss) per share - basic	$	0.03		$	(0.01)		$	(0.12)		$	0.02		$	(0.22)
Non-GAAP net income per share - diluted (2)	$	0.17		$	0.15		$	0.10		$	0.33		$	0.19

_________________________

(1)    ARR represents and is defined as the annualized paid subscriptions and services revenue we expect to recognize from subscription contracts, as calculated by taking the average paid subscriptions and services revenue for the reporting period multiplied by the number of subscription accounts at the end of the reporting period.

(2)    Reconciliation of financial measures computed on a GAAP basis to the most directly comparable financial measures computed on a non-GAAP basis is provided at the end of this press release.

(3)    FCF is calculated as net cash provided by operating activities less capital expenditures. FCF margin is the FCF divided by revenue.

Third Quarter 2025 Business Outlook (4) (5)

A reconciliation of our business outlook on a GAAP and non-GAAP basis is provided in the following table:

	Three Months Ended September 28, 2025
	Revenue	Net income per share - diluted
	(In millions, except per share data)
GAAP	$133 - $143	$0.04 - $0.10
Estimated adjustment for stock-based compensation and other expense	—	$0.08
Non-GAAP	$133 - $143	$0.12 - $0.18

_________________________

(4)Business outlook does not include estimates for any currently unknown income and expense items which, by their nature, could arise late in a quarter, including: litigation reserves, net; impairment charges; discrete tax benefits or detriments relating to tax windfalls or shortfalls from equity awards; and any additional impacts relating to the implementation of U.S. tax reform. New material income and expense items such as these could have a significant effect on our guidance and future results.

(5)    The current global tariff environment is uncertain. Our products are manufactured outside the U.S., and consequently tariffs increase our product costs, which could impact our sales and reduces our product margin. The outlook ranges include the impact of our current estimate on tariff costs.

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Investor Conference Call / Webcast Details

Arlo will review the second quarter 2025 results and discuss management’s expectations for the third quarter 2025 today, Thursday, August 7, 2025 at 5:00 p.m. ET (2:00 p.m. PT). To view the accompanying presentation, a live webcast of the conference call will be available on Arlo’s Investor Relations website at https://investor.arlo.com. The toll-free dial-in number for the live audio call is (833) 470-1428. The international dial-in number for the live audio call is (404) 975-4839. The conference ID for the call is 290612. A replay of the call will be available via the web at https://investor.arlo.com.

About Arlo Technologies, Inc.

Arlo is an award-winning, industry leader that is transforming the ways in which people can protect everything that matters to them with advanced home, business, and personal security solutions. Arlo’s deep expertise in AI- and CV-powered analytics, cloud services, user experience and product design, and innovative wireless and RF connectivity enables the delivery of a seamless, smart security experience for Arlo users that is easy to set up and interact with every day. Arlo’s cloud-based platform provides users with visibility, insight and a powerful means to help protect and connect in real-time with the people and things that matter most, from any location with a Wi-Fi or a cellular connection. To date, Arlo has launched several categories of award-winning connected devices, software and services. These include wire-free, smart Wi-Fi and LTE-enabled security cameras, video doorbells, floodlights, security system, and Arlo's subscription services: Arlo Secure and Arlo Safe.

With a mission to bring users peace of mind, Arlo is as passionate about protecting user privacy as it is about safeguarding homes and families. Arlo is committed to implementing industry standards for data protection designed to keep users’ personal information private and in their control. Arlo does not monetize personal data, provides enhanced controls for user data, supports privacy legislation, keeps user data safely secure, and puts security at the forefront of company culture.

© 2025 Arlo Technologies, Inc., Arlo and the Arlo logo are trademarks and/or registered trademarks of Arlo Technologies, Inc. and/or certain of its affiliates in the United States and/or other countries. Other brand and product names are for identification purposes only and may be trademarks or registered trademarks of their respective holder(s). The information contained herein is subject to change without notice. Arlo shall not be liable for technical or editorial errors or omissions contained herein. All rights reserved.

Contact:

Arlo Investor Relations

Tahmin Clarke

investors@arlo.com

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Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 for Arlo Technologies, Inc.:

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. The words “anticipate,” “expect,” “believe,” “will,” “may,” “should,” “estimate,” “project,” “outlook,” “forecast” or other similar words are used to identify such forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. The forward-looking statements represent our expectations or beliefs concerning future events based on information available at the time such statements were made and include statements regarding our potential future business, operating performance and financial condition, including descriptions of our expected revenue and profitability (and related timing), GAAP and non-GAAP gross margins, adjusted EBITDA and adjusted EBITDA margins, tax rates, expenses, cash outlook, free cash flow and free cash flow margins; strategic objectives and initiatives; the recurring revenue business model; expectations regarding market expansion and future growth, including with respect to our long-range plan targets; expectations regarding the ability of our new AI platform, Arlo Secure 6, to drive growth and propel us to record financial results; expectations regarding our subscription momentum, holiday product launches and recent strategic partnerships to position us for continuing success; and others. These statements are based on management's current expectations and are subject to certain risks and uncertainties, including the following: future demand for our products may be lower than anticipated, including due to inflation, fluctuating consumer confidence, banking failures and rising interest rates; we may be unsuccessful in developing and expanding our sales and marketing capabilities; we may not be able to increase sales of our paid subscription services; consumers may choose not to adopt our new product offerings or adopt competing products; product performance may be adversely affected by real world operating conditions; we may be unsuccessful or experience delays in manufacturing and distributing our new and existing products; and we may fail to manage costs and cost saving initiatives, the cost of developing new products and manufacturing and distribution of our existing offerings. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements.

The recent announcements of substantial new U.S. and international tariffs have created a dynamic and unpredictable trade landscape, which is adversely impacting, and may continue to adversely impact, our business. Current or future tariffs impacting our products, which are manufactured outside of the United States, have raised and may further raise our product costs. In addition, other trade restrictions could negatively impact our ability to obtain finished products from our ex-U.S. manufacturers and suppliers and, therefore, delay or impede our product deliveries. Tariff-related cost pressures and supply chain disruptions may lead to reputational harm if we are unable to deliver products or services on expected timelines or if any price increases are poorly received by customers or business partners. Furthermore, ongoing uncertainty regarding trade disputes and other political tensions between the United States and other countries, particularly in Asia, may also exacerbate unfavorable macroeconomic conditions, which may negatively impact international customer demand for our products or services and may lead to increased preference for local competitors. While we continue to monitor these developments, the full impact of these risks remains uncertain, and any prolonged economic downturn, escalation in trade tensions or deterioration in international perception of U.S.-based companies could materially and adversely affect our business, results of operations and financial condition.

Further information on potential risk factors that could affect our business are detailed in our periodic filings with the Securities and Exchange Commission, including, but not limited to, those risks and uncertainties listed in the section entitled “Risk Factors” in the most recently filed Annual Report and Quarterly Report filed with the Securities and Exchange Commission (the “SEC”) and subsequent filings with the SEC. Given these circumstances, you should not place undue reliance on these forward-looking statements. We undertake no obligation to release publicly any revisions to any forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Non-GAAP Financial Measures:

To supplement our unaudited financial data prepared on a basis consistent with U.S. Generally Accepted Accounting Principles (“GAAP”), we disclose certain non-GAAP financial measures that exclude certain charges, including non-GAAP gross profit, non-GAAP gross margin, adjusted EBITDA, adjusted EBITDA margin, non-GAAP net income (loss) and non-GAAP net income (loss) per diluted share. These supplemental measures exclude adjustments for stock-based compensation expense, restructuring charges, write-off of deferred financing costs, separation expenses, amortization

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of software development cost, depreciation expenses, litigation reserves, net, and the related tax effects. In addition, we use free cash flow as a non-GAAP measure when assessing the sources of liquidity, capital resources, and quality of earnings. We believe that free cash flow is helpful in understanding our capital requirements and provides an additional means to reflect the cash flow trends in our business.

Beginning in the first quarter of 2025, we no longer present non-GAAP operating income (loss) as our management no longer uses this metric for purposes of understanding and evaluating our operating performance.

These non-GAAP measures are not in accordance with, or an alternative for GAAP, and may be different from similarly-titled non-GAAP measures used by other companies. We believe that these non-GAAP measures have limitations in that they do not reflect all of the amounts associated with our results of operations as determined in accordance with GAAP and that these measures should only be used to evaluate our results of operations in conjunction with the corresponding GAAP measures. The presentation of this additional information is not meant to be considered in isolation or as a substitute for the most directly comparable GAAP measures. We compensate for the limitations of non-GAAP financial measures by relying upon GAAP results to gain a complete picture of our performance.

In calculating non-GAAP financial measures, we exclude certain items to facilitate a review of the comparability of our operating performance on a period-to-period basis because such items are not, in our view, related to our ongoing operational performance. We use non-GAAP measures to evaluate the operating performance of our business, for comparison with forecasts and strategic plans, and for benchmarking performance externally against competitors. In addition, management’s incentive compensation is determined using certain non-GAAP measures. Since we find these measures to be useful, we believe that investors benefit from seeing results “through the eyes” of management in addition to seeing GAAP results. We believe that these non-GAAP measures, when read in conjunction with our GAAP measures, provide useful information to investors by offering:

•the ability to make more meaningful period-to-period comparisons of our on-going operating results;

•the ability to better identify trends in our underlying business and perform related trend analyses;

•a better understanding of how management plans and measures our underlying business; and

•an easier way to compare our operating results against analyst financial models and operating results of competitors that supplement their GAAP results with non-GAAP financial measures.

The following are explanations of the adjustments that we incorporate into non-GAAP measures, as well as the reasons for excluding them in the reconciliations of these non-GAAP financial measures:

Stock-based compensation expense consists of non-cash charges for the estimated fair value of restricted stock units (RSU), performance-based restricted stock units, and shares under the employee stock purchase plan granted to employees, and the payroll taxes associated with stock-based compensation. We believe that the exclusion of these charges provides for more accurate comparisons of our operating results to peer companies due to the varying available valuation methodologies, subjective assumptions and the variety of award types. In addition, we believe it is useful to investors to understand the specific impact stock-based compensation expense has on our operating results.

Other non-GAAP items are the result of either unique or unplanned events, including, when applicable: restructuring charges, write-off of deferred financing costs, separation expenses, amortization of software development cost, depreciation expenses, litigation reserves, net, and the related tax effects. It is difficult to predict the occurrence or estimate the amount or timing of these items in advance. Although these events are reflected in our GAAP financial statements, these unique transactions may limit the comparability of our on-going operations with prior and future periods. The amounts result from events that often arise from unforeseen circumstances, which often occur outside of the ordinary course of continuing operations. Therefore, the amounts do not accurately reflect the underlying performance of our continuing business operations for the period in which they are incurred.

Source: Arlo-F

***Financial Tables

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ARLO TECHNOLOGIES, INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

	As of
	June 29, 2025		December 31, 2024
	(In thousands, except share and per share data)
ASSETS
Current assets:
Cash and cash equivalents	$	71,244	$	82,032
Short-term investments	89,157		69,419
Accounts receivable, net	61,450		57,332
Inventories	30,877		40,633
Prepaid expenses and other current assets	15,889		13,190
Total current assets	268,617		262,606
Property and equipment, net	8,980		4,765
Operating lease right-of-use assets, net	14,147		15,698
Goodwill	11,038		11,038
Long-term investment	12,500		—
Other non-current assets	4,459		4,293
Total assets	$	319,741	$	298,400
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable	$	50,178	$	63,784
Deferred revenue	42,107		27,248
Accrued liabilities	89,998		85,730
Total current liabilities	182,283		176,762
Non-current operating lease liabilities	16,603		18,357
Other non-current liabilities	2,581		2,372
Total liabilities	201,467		197,491
Commitments and contingencies
Stockholders’ Equity:
Preferred stock: $0.001 par value; 50,000,000 shares authorized; none issued or outstanding	—		—
Common stock: $0.001 par value; 500,000,000 shares authorized; shares issued and outstanding: 104,288,914 at June 29, 2025 and 100,885,158 at December 31, 2024	104		101
Additional paid-in capital	513,854		498,739
Accumulated other comprehensive income (loss)	(8)		34
Accumulated deficit	(395,676)		(397,965)
Total stockholders’ equity	118,274		100,909
Total liabilities and stockholders’ equity	$	319,741	$	298,400

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ARLO TECHNOLOGIES, INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

	Three Months Ended									Six Months Ended
	June 29, 2025			March 30, 2025			June 30, 2024			June 29, 2025			June 30, 2024
	(In thousands, except percentage and per share data)
Revenue:
Subscriptions and services	$	78,175		$	68,849		$	60,261		$	147,024		$	116,968
Products	51,230			50,217			67,186			101,447			134,679
Total revenue	129,405			119,066			127,447			248,471			251,647
Cost of revenue:
Subscriptions and services	12,235			12,265			14,557			24,500			28,153
Products	59,095			54,074			66,036			113,169			129,260
Total cost of revenue	71,330			66,339			80,593			137,669			157,413
Gross profit	58,075			52,727			46,854			110,802			94,234
Gross margin	44.9		%	44.3		%	36.8		%	44.6		%	37.4		%
Operating expenses:
Research and development	18,489			16,165			19,561			34,654			40,354
Sales and marketing	21,103			20,203			17,698			41,306			35,068
General and administrative	16,334			17,785			21,430			34,119			40,778
Other operating expense	216			25			966			241			1,445
Total operating expenses	56,142			54,178			59,655			110,320			117,645
Income (loss) from operations	1,933			(1,451)			(12,801)			482			(23,411)
Operating margin	1.5		%	(1.2)		%	(10.0)		%	0.2		%	(9.3)		%
Interest income, net	1,344			1,316			1,495			2,660			2,881
Other non-operating expense, net	(407)			(198)			(18)			(605)			(43)
Income (loss) before income taxes	2,870			(333)			(11,324)			2,537			(20,573)
Provision (benefit) for income taxes	(254)			502			236			248			631
Net income (loss)	$	3,124		$	(835)		$	(11,560)		$	2,289		$	(21,204)
Net income (loss) per share:
Basic	$	0.03		$	(0.01)		$	(0.12)		$	0.02		$	(0.22)
Diluted	$	0.03		$	(0.01)		$	(0.12)		$	0.02		$	(0.22)
Weighted average shares to compute net income (loss) per share:
Basic	103,885			102,217			97,843			103,060			97,051
Diluted	108,061			102,217			97,843			107,692			97,051

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ARLO TECHNOLOGIES, INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

	Six Months Ended
	June 29, 2025		June 30, 2024
	(In thousands)
Cash flows from operating activities:
Net income (loss)	$	2,289	$	(21,204)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Stock-based compensation expense, net of amounts of capitalized	31,995		39,470
Depreciation and amortization	1,687		1,684
Allowance for credit losses and non-cash changes to reserves	—		(225)
Deferred income taxes	(107)		(5)
Discount accretion on investments and other	(1,390)		(1,615)
Changes in assets and liabilities:
Accounts receivable, net	(4,188)		3,805
Inventories	9,826		(6,785)
Prepaid expenses and other assets	(2,758)		(2,254)
Accounts payable	(13,888)		18,785
Deferred revenue	14,956		5,582
Accrued and other liabilities	1,327		(10,970)
Net cash provided by operating activities	39,749		26,268
Cash flows from investing activities:
Purchases of property and equipment, including capitalized software	(5,778)		(651)
Purchases of short-term investments	(83,390)		(111,519)
Purchase of long-term investment	(12,500)		—
Proceeds from maturities of short-term investments	65,000		111,902
Net cash used in investing activities	(36,668)		(268)
Cash flows from financing activities:
Proceeds related to employee benefit plans	2,280		2,380
Repurchase of common stock	(16,149)		—
Restricted stock unit withholdings	—		(22,481)
Net cash used in financing activities	(13,869)		(20,101)
Net increase (decrease) in cash, cash equivalents, and restricted cash	(10,788)		5,899
Cash, cash equivalents, and restricted cash, at beginning of period	82,032		60,653
Cash, cash equivalents, and restricted cash, at end of period	$	71,244	$	66,552
Non-cash investing activities:
Purchases of property and equipment included in accounts payable and accrued liabilities	$	566	$	233
Stock-based compensation expense capitalized for software development	$	868	$	—

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ARLO TECHNOLOGIES, INC.

RECONCILIATIONS OF GAAP MEASURES TO NON-GAAP MEASURES

UNAUDITED STATEMENT OF OPERATIONS DATA:
	Three Months Ended									Six Months Ended
	June 29, 2025			March 30, 2025			June 30, 2024			June 29, 2025			June 30, 2024
	(In thousands, except percentage data)
GAAP gross profit:
Subscriptions and services	$	65,940		$	56,584		$	45,704		$	122,524		$	88,815
Products	(7,865)			(3,857)			1,150			(11,722)			5,419
Total GAAP gross profit	58,075			52,727			46,854			110,802			94,234
GAAP gross margin:
Subscriptions and services	84.3		%	82.2		%	75.8		%	83.3		%	75.9		%
Products	(15.4)		%	(7.7)		%	1.7		%	(11.6)		%	4.0		%
Total GAAP gross margin	44.9		%	44.3		%	36.8		%	44.6		%	37.4		%
Stock-based compensation expense - Subscriptions and services cost	99			361			165			460			422
Stock-based compensation expense - Products cost	786			756			1,127			1,542			2,241
Amortization of software development cost	341			272			151			613			302
Non-GAAP gross profit:
Subscriptions and services	66,380			57,217			46,020			123,597			89,539
Products	(7,079)			(3,101)			2,277			(10,180)			7,660
Total Non-GAAP gross profit	$	59,301		$	54,116		$	48,297		$	113,417		$	97,199
Non-GAAP gross margin:
Subscriptions and services	84.9		%	83.1		%	76.4		%	84.1		%	76.6		%
Products	(13.8)		%	(6.2)		%	3.4		%	(10.0)		%	5.7		%
Total Non-GAAP gross margin	45.8		%	45.5		%	37.9		%	45.7		%	38.6		%
GAAP net income (loss)	$	3,124		$	(835)		$	(11,560)		$	2,289		$	(21,204)
Stock-based compensation expense	14,983			17,012			20,920			31,995			39,470
Depreciation and amortization	858			829			782			1,687			1,684
Other operating expense	216			25			966			241			1,445
Interest income, net	(1,344)			(1,316)			(1,495)			(2,660)			(2,881)
Other non-operating expense, net	407			198			18			605			43
Provision (benefit) for income taxes	(254)			502			236			248			631
Adjusted EBITDA	$	17,990		$	16,415		$	9,867		$	34,405		$	19,188
Adjusted EBITDA margin	13.9		%	13.8		%	7.7		%	13.8		%	7.6		%

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ARLO TECHNOLOGIES, INC.

RECONCILIATIONS OF GAAP MEASURES TO NON-GAAP MEASURES (CONTINUED)

UNAUDITED STATEMENT OF OPERATIONS DATA (CONTINUED):
	Three Months Ended									Six Months Ended
	June 29, 2025			March 30, 2025			June 30, 2024			June 29, 2025			June 30, 2024
	(In thousands, except percentage and per share data)
GAAP net income (loss)	$	3,124		$	(835)		$	(11,560)		$	2,289		$	(21,204)
Stock-based compensation expense	14,983			17,012			20,920			31,995			39,470
Others	708			297			1,117			1,005			1,747
Non-GAAP net income	$	18,815		$	16,474		$	10,477		$	35,289		$	20,013
GAAP net income (loss) per share - basic	$	0.03		$	(0.01)		$	(0.12)		$	0.02		$	(0.22)
Stock-based compensation expense	0.14			0.16			0.21			0.30			0.39
Others	—			—			0.01			0.01			0.02
Non-GAAP net income per share - diluted	$	0.17		$	0.15		$	0.10		$	0.33		$	0.19
Shares used in computing GAAP net income (loss) - basic	103,885			102,217			97,843			103,060			97,051
Shares used in computing non-GAAP net income - diluted	108,061			108,285			106,127			107,692			105,441
Free cash flow:
Net cash provided by operating activities	$	8,830		$	30,919		$	6,463		$	39,749		$	26,268
Less: purchases of property and equipment, including capitalized software	(2,975)			(2,803)			(295)			(5,778)			(651)
Free cash flow (1)	$	5,855		$	28,116		$	6,168		$	33,971		$	25,617
Free cash flow margin (1)	4.5		%	23.6		%	4.8		%	13.7		%	10.2		%

_________________________

(1)    Free cash flow is calculated as net cash provided by operating activities less capital expenditures. Free cash flow margin is the free cash flow divided by revenue.

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ARLO TECHNOLOGIES, INC.

UNAUDITED SUPPLEMENTAL FINANCIAL INFORMATION

	As of and for the three months ended
	June 29, 2025		March 30, 2025		December 31, 2024		September 29, 2024		June 30, 2024
	(In thousands, except headcount and per share data)
Cash, cash equivalents and short-term investments	$	160,401	$	153,106	$	151,451	$	146,574	$	144,005
Accounts receivable, net	$	61,450	$	46,054	$	57,332	$	68,567	$	61,746
Days sales outstanding	43		34		44		45		44
Inventories	$	30,877	$	34,559	$	40,633	$	51,975	$	45,227
Inventory turns	7.7		6.3		6.4		5.8		5.8
Weeks of channel inventory:
U.S. retail channel	12.5		12.8		7.7		14.2		14.8
U.S. distribution channel	11.0		12.6		9.4		7.1		12.5
APAC distribution channel	8.2		8.4		8.5		7.5		3.9
Deferred revenue (current and non-current)	$	42,544	$	43,177	$	27,551	$	24,827	$	23,695
Cumulative registered accounts (1)	11,237		10,930		10,823		10,383		9,987
Cumulative paid accounts (2)	5,115		4,897		4,599		4,235		3,980
Annual recurring revenue (ARR) (3)	$	315,655	$	276,357	$	257,332	$	241,572	$	234,981
Headcount	382		369		360		355		362
Non-GAAP diluted shares	108,061		108,285		107,125		107,294		106,127

_________________________

(1)    We define our registered accounts at the end of a particular period as the number of unique registered accounts on the Arlo platform as of the end of such period. The number of registered accounts does not necessarily reflect the number of end-users on the Arlo platform as one registered account may be used by multiple end-users to monitor the devices attached to that household.

(2)    Paid accounts are defined as any account worldwide where a subscription to a paid service is being collected (either by us or by our customers or channel partners, including Verisure).

(3)    ARR represents and is defined as the annualized paid subscriptions and services revenue we expect to recognize from subscription contracts, as calculated by taking the average paid subscriptions and services revenue for the reporting period multiplied by the number of subscription accounts at the end of the reporting period.

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REVENUE BY GEOGRAPHY

	Three Months Ended												Six Months Ended
	June 29, 2025				March 30, 2025				June 30, 2024				June 29, 2025				June 30, 2024
	(In thousands, except percentage data)
Americas	$	81,902	63.3	%	$	70,097	58.9	%	$	65,294	51.2	%	$	151,999	61.2	%	$	122,463	48.7	%
EMEA	43,320		33.5	%	42,895		36.0	%	56,827		44.6	%	86,215		34.7	%	118,207		47.0	%
APAC	4,183		3.2	%	6,074		5.1	%	5,326		4.2	%	10,257		4.1	%	10,977		4.3	%
Total	$	129,405	100.0	%	$	119,066	100.0	%	$	127,447	100.0	%	$	248,471	100.0	%	$	251,647	100.0	%

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