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NTGR

NETGEAR, Inc.

NTGR

NETGEAR, Inc. • NASDAQ
$26.45 ▲ 1.85% (+0.48)
Market Cap $759.84 M
52w High $36.86
52w Low $18.75
Dividend Yield 0%
P/E -29.39
Volume 327.26K
Outstanding Shares 28.73M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $184.561M ▲ $79.321M ▲ $-4.777M ▲ -2.588% ▲ $-0.17 ▲ $-2.223M ▲
Q2-2025 $170.532M ▲ $73.518M ▲ $-6.428M ▼ -3.769% ▼ $-0.22 ▼ $-6.996M ▼
Q1-2025 $162.06M ▼ $69.125M ▼ $-6.034M ▲ -3.723% ▲ $-0.21 ▲ $-6.41M ▲
Q4-2024 $182.419M ▼ $74.469M ▲ $-8.886M ▼ -4.871% ▼ $-0.31 ▼ $-9.032M ▼
Q3-2024 $182.854M $-39.325M $85.074M 46.526% $2.96 $-2.262M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $326.383M ▼ $810.806M ▲ $303.958M ▲ $506.848M ▼
Q2-2025 $363.472M ▼ $803.55M ▼ $280.392M ▲ $523.158M ▼
Q1-2025 $391.927M ▼ $814.196M ▼ $279.953M ▼ $534.243M ▼
Q4-2024 $408.69M ▲ $850.23M ▼ $309.164M ▼ $541.066M ▼
Q3-2024 $395.732M $862.636M $312.306M $550.33M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-4.777M ▲ $-7.382M ▼ $-9.66M ▲ $-20.498M ▼ $-37.54M ▼ $-17.086M ▼
Q2-2025 $-6.428M ▼ $-1.771M ▲ $-15.64M ▼ $-11.38M ▼ $-28.791M ▼ $-5.302M ▲
Q1-2025 $-6.034M ▲ $-8.749M ▼ $-1.26M ▲ $-6.624M ▼ $-16.633M ▼ $-10.145M ▼
Q4-2024 $-8.886M ▼ $21.482M ▼ $-2.266M ▲ $-6.539M ▼ $12.677M ▼ $18.99M ▼
Q3-2024 $85.074M $107.68M $-10.986M $-31K $96.663M $105.995M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Enterprise
Enterprise
 $0 ▲$0 ▲$0 ▲$90.00M ▲
Home Networking
Home Networking
 $0 ▲$60.00M ▲$70.00M ▲$70.00M ▲
Mobile
Mobile
 $0 ▲$20.00M ▲$20.00M ▲$20.00M ▲
Connected Home
Connected Home
 $100.00M ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has drifted down from its pandemic-era peak and is now running at a smaller, more normalized level. Profitability has been choppy: the company moved from solid profits to a couple of loss-making years, but most recent results show a return to modest profit. Margins are much thinner than they used to be, which suggests pricing pressure and a need for tight cost control. Overall, the income statement shows a business that has come through a reset period and is stabilizing, but with a history of volatility that shouldn’t be ignored.

Balance Sheet

Balance Sheet The balance sheet looks conservative and relatively clean. Cash is substantial for a company of this size, and debt is very low, which gives NETGEAR financial flexibility and a cushion against downturns. Equity has held fairly steady over the past few years, even as the business has gone through earnings swings, which points to an underlying capital base that has not been heavily eroded. Asset levels have eased slightly, which may reflect leaner inventories and a more focused footprint. Overall, financial risk from leverage appears limited.

Cash Flow

Cash Flow Cash generation is a relative bright spot. After a weak period when operating cash flow was close to breakeven or slightly negative, recent years show solid positive cash flow from operations and free cash flow. The business does not require heavy capital spending, so a good portion of operating cash can be retained. This pattern—cash flow stronger than headline earnings at times—suggests working capital management has improved and that the underlying cash economics may be healthier than the past income volatility alone would imply.

Competitive Edge

Competitive Edge NETGEAR operates in a very competitive, price-sensitive hardware market, but it has some clear strengths. Its Nighthawk and Orbi brands are well known and can command premium positioning with performance-focused and whole‑home users. The company sells to both consumers and small businesses, which diversifies its exposure. Cloud-managed networking, Pro AV solutions, and security and parental-control subscriptions help it stand out from pure low-cost hardware rivals. At the same time, it faces intense competition from large consumer brands and aggressive low-cost players, so maintaining differentiation through performance, ease of use, and software will be critical.

Innovation and R&D

Innovation and R&D Innovation is a central part of the story. NETGEAR has been early to adopt new Wi‑Fi standards, including Wi‑Fi 6, 6E, and now Wi‑Fi 7, and is investing in AI-driven network management to make setup, optimization, and security more automated. Its Insight cloud platform, Pro AV switches with specialized software, and growing subscription services (such as cybersecurity and parental controls) show a shift toward higher-value, software‑enabled offerings. The acquisition of VAAG Systems and investment in R&D talent underline a push to deepen software and AI capabilities, especially for small and medium businesses.

Summary

NETGEAR looks like a company that has come off a demand spike, reset to a smaller revenue base, and is working to rebuild profitability in a tougher, more mature market. The financial position is solid, with plenty of cash and minimal debt, and cash flow has improved, giving the company room to invest and adapt. Strategically, NETGEAR is leaning into its brand strength, advanced Wi‑Fi leadership, AI-driven management tools, and subscription services, while pivoting more toward business and Pro AV customers. The main uncertainties are execution in these newer focus areas and the ability to protect margins in a highly competitive, fast‑changing connectivity market.

NEWS

November 17, 2025 · 8:30 AM UTC

NETGEAR Introduces the Nighthawk 5G M7 Hotspot with New Mobile App and eSIM Marketplace to Enable Fast Portable Connectivity

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November 12, 2025 · 8:30 AM UTC

NETGEAR to Host Investor Day on November 17, 2025

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November 4, 2025 · 8:30 AM UTC

NETGEAR Enterprise Launches DRIVE Partner Success Program to Empower Partners, Accelerate Growth, and Deliver Exceptional Customer Value

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October 31, 2025 · 8:00 PM UTC

NETGEAR® Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

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October 29, 2025 · 4:05 PM UTC

NETGEAR® Reports Third Quarter 2025 Results

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