- Arlo Technologies (NYSE:ARLO) updates its Q4 outlook due to the delayed launch of its Ultra security camera system, which was meant to hit stores in late November.
- The Ultra launch was delayed because of a supplier's battery quality issue, which has been resolved. Ultra is now expected to become commercially available at the end of January.
- Q4 revenue guidance drops to from $125M to $130M (was: $140M to $150M; consensus: $149.1M) and gross margin to about 10% (was: 13% to 15%).
- Arlo shares are down 11.4% premarket to $10.66.