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Arlo -11% on lowered Q4 outlook

Dec. 03, 2018 9:22 AM ETArlo Technologies, Inc. (ARLO) StockBy: Brandy Betz, SA News Editor2 Comments
  • 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.

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