RTTNews | Feb 24, 2021 07:30AM EST

07:29 Wednesday, February 24, 2021 (RTTNews.com) - Shares of Arlo Technologies Inc. (ARLO) are soaring over 31% in pre-market today, following the company's Q4 results. ARLO has been trading in the range of $1.20 - $10.49 for the past one year, and is currently trading at $8.81, up $2.13 or 31.89% in the pre-market session Wednesday.

The company reported Q4 GAAP net loss of $15.2 million or $0.19 per share compared to a profit of $19.6 million or $0.26 per share last year. On a non-GAAP basis, loss for the latest Q4 was $0.08 per share. Total revenue declined to $114.8 million from $122.4 million generated a year ago. Analysts polled by Thomson Reuters expected a loss of $0.18 per share. Analysts' estimate typically exclude certain special items.

The company ended the year with cash, cash equivalents and short-term investments balance at $206.1 million with no debt

For the first quarter, the company projects GAAP loss in the range of $0.35 - $0.29 per share, non-GAAP loss of $0.23 - $0.17 per share, on revenue of $70 million - $80 million. Four Wall Street analysts have a consensus estimate for loss of $0.22 per share and revenue of $77.27 million for the first quarter.

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