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Brian Busse, the General Counsel of Arlo Technologies , Inc. (NYSE:ARLO), recently sold a portion of his holdings in the company. According to a recent SEC filing, Busse sold a total of 17,255 shares over two days. The transactions took place on February 5 and 6, 2025, with sale prices ranging from $11.2355 to $11.4323 per share. The total value of these transactions amounted to $196,126. Following these sales, Busse retains ownership of 585,203 shares in the company. The sales were made to satisfy estimated tax withholding obligations upon the settlement of Restricted Stock Units.
In other recent news, Arlo Technologies reported a 6% year-over-year revenue increase in its Third Quarter 2024 Earnings Call, totaling $137.7 million. The company’s services business saw significant growth, with a 70% increase in paid subscribers and a record service revenue of $62 million. CEO Matthew McRae also announced a $50 million share buyback program and the development of Arlo Secure 6.0, scheduled for a major launch in the second half of 2025.
The company expects to exceed its full-year services revenue guidance of $240 million, and projects a non-GAAP net income per diluted share between $0.07 and $0.13. Despite a decline in the U.S. market and anticipated destocking in North American retail, Arlo’s international revenue constituted 48% of total revenue, largely driven by a partnership with Verisure.
Arlo Technologies is also expanding its partnership with Allstate (NYSE:ALL) and plans aggressive pricing and promotions for the holiday season to boost sales and subscriptions. These are among the recent developments for the company, which continues to focus on international expansion and product development despite challenges in product margins and the U.S. market.
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