What changed in this filing

/stocks — the workspaceLOADING

Item 1. Financial Statements

2026-05-07 compared with 2025-11-06 · 253 added, 257 removed, 443 unchanged (54% of the section changed)

2 unchanged sentences

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

September 28,

2026 December 31,

10 unchanged sentences

Goodwill 38,544 11,038

Intangible assets, net 19,490 —

Long-term investment — 12,500

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shares issued and outstanding:

105,747,479 at September 28, 2025 and 100,885,158 at December 31, 2024

108,745,373 at March 29, 2026 and 105,030,947 at December 31, 2025

Additional paid-in capital 527,457 510,759

Accumulated other comprehensive income 35 34

Accumulated other comprehensive income (loss)

Accumulated deficit ( 368,162 ) ( 383,039 )

3 unchanged sentences

ARLO TECHNOLOGIES, INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

Three Months Ended Nine Months Ended

September 28,

2025 September 29,

2024 September 28,

2025 September 29,

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND

COMPREHENSIVE INCOME (LOSS)

Three Months Ended

2026 March 30,

(In thousands, except per share data)

14 unchanged sentences

Income (loss) from operations 7,558 ( 1,451 )

Other income (expense):

Gain on early lease termination 4,144 — 4,144 —

Other income, net:

Gain on sale of long-term investment 6,423 —

Interest income, net 1,241 1,316

Other non-operating income (expense), net 503 ( 57 ) ( 102 ) ( 100 )

Other income (expense), net 70 ( 198 )

Total other income, net 7,734 1,118

Income (loss) before income taxes 15,292 ( 333 )

1 unchanged sentence

Net income (loss) $ 14,877 $ ( 835 )

Net income (loss) per share:

Earnings (loss) per share:

Basic $ 0.14 $ ( 0.01 )

Diluted $ 0.13 $ ( 0.01 )

Weighted average shares used to compute net income (loss) per share:

Weighted-average common shares outstanding:

Basic 106,995 102,217

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Net income (loss) $ 14,877 $ ( 835 )

Other comprehensive income (loss), net of tax 43 45 1 ( 84 )

Other comprehensive loss, net of tax ( 17 ) ( 29 )

Total comprehensive income (loss) $ 14,860 $ ( 864 )

2 unchanged sentences

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

Three Months Ended Nine Months Ended

September 28,

2025 September 29,

2024 September 28,

2025 September 29,

Three Months Ended

2026 March 30,

(In thousands)

1 unchanged sentence

$ 127,841 $ 100,909

Common stock:

Beginning balances $ 104 $ 98 $ 101 $ 95

Issuance of common stock under stock-based compensation plans 2 3 6 8

Issuance of common stock under employee stock purchase plan — — — —

Repurchase of common stock ( 1 ) — ( 2 ) —

Restricted stock unit withholdings — ( 1 ) — ( 3 )

Ending balances $ 105 $ 100 $ 105 $ 100

Additional paid-in capital:

Common stock and additional paid-in capital:

Beginning balances $ 510,864 $ 498,840

2 unchanged sentences

Issuance of common stock under stock-based compensation plans — 649

Issuance of common stock under employee stock purchase plan — — 1,475 1,692

Repurchase of common stock ( 10,780 ) — ( 27,133 ) —

Restricted stock unit withholdings — ( 20,461 ) — ( 42,940 )

Repurchases of common stock

( 8,133 ) ( 15,435 )

Ending balances $ 527,565 $ 502,165

5 unchanged sentences

Beginning balances $ 16 $ 34

Other comprehensive income (loss), net of tax 43 45 1 ( 84 )

Other comprehensive loss, net of tax ( 17 ) ( 29 )

Ending balances $ ( 1 ) $ 5

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Issuance of common stock under stock-based compensation plans 4,286 3,817

Issuance of common stock under employee stock purchase plan — — 155 233

Repurchase of common stock ( 622 ) — ( 2,111 ) —

Restricted stock unit withholdings — ( 1,407 ) — ( 3,478 )

Repurchases of common stock

( 572 ) ( 1,397 )

Ending balances 108,745 103,305

2 unchanged sentences

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

Nine Months Ended

September 28,

2025 September 29,

Three Months Ended

2026 March 30,

(In thousands)

3 unchanged sentences

Stock-based compensation expense, net of amounts capitalized 19,734 17,012

45,133 54,159

Depreciation and amortization 1,697 829

Gain on early lease termination ( 4,144 ) —

Gain on sale of long-term investment ( 6,423 ) —

Allowance for credit losses and non-cash changes to reserves 949 416

1 unchanged sentence

Discount accretion on investments and other ( 57 ) ( 657 )

Changes in assets and liabilities:

Changes in assets and liabilities, net of assets acquired:

Accounts receivable, net ( 12,490 ) 11,287

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Purchase of long-term investment — ( 12,500 )

Acquisition of business

Proceeds from maturities of short-term investments 19,988 45,000

Net cash provided by (used in) investing activities ( 30,428 ) 11,229

Proceeds from sale of long-term investment 18,923 —

Net cash used in investing activities

( 14,333 ) ( 14,352 )

Cash flows from financing activities:

Proceeds related to employee benefit plans 2,280 7,113

Repurchase of common stock ( 26,824 ) —

Restricted stock unit withholdings — ( 42,943 )

Proceeds from employee stock plans

Repurchases of common stock

( 7,334 ) ( 15,239 )

Net cash used in financing activities ( 7,334 ) ( 14,590 )

Net increase in cash, cash equivalents, and restricted cash

Cash, cash equivalents, and restricted cash , at beginning of period

Net increase in cash and cash equivalents 6,196 1,977

Cash and cash equivalents at beginning of period

146,440 82,032

Cash, cash equivalents, and restricted cash , at end of period

Cash and cash equivalents at end of period

$ 152,636 $ 84,009

Reconciliation of cash, cash equivalents, and restricted cash to unaudited condensed consolidated balance sheets

Cash and cash equivalents $ 86,012 $ 77,032

Restricted cash — 3,654

Total cash, cash equivalents, and restricted cash $ 86,012 $ 80,686

Supplemental cash flow information:

Non-cash investing activities:

Non-cash investing and financing activities:

Purchases of property and equipment included in accounts payable and accrued liabilities $ 463 $ 1,164

Stock-based compensation expense capitalized for software development $ 305 $ 601

Stock repurchases included in accounts payable

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

9 unchanged sentences

(ii) Europe, Middle-East and Africa (“EMEA”);

and (iii) Asia Pacific (“APAC”)—and primarily generate revenue by selling paid subscription services, as well as devices through retail, wholesale distribution, wireless carrier channels, security solution providers, and Arlo’s direct to consumer store.

and (iii) Asia Pacific (“APAC”)—and primarily generate revenue by selling paid subscription services, as well as devices through retail, wholesale distribution, strategic partners, security solution providers, and Arlo’s direct to consumer store.

Our corporate headquarters is located in Carlsbad, California, with other satellite offices across North America and various other global locations.

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Management bases its estimates on various assumptions believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities.

Actual results could differ materially from those estimates and operating results for the nine months ended September 28, 2025 and are not necessarily indicative of the results that may be expected for the year ending December 31, 2025 or any future period.

Actual results could differ materially from those estimates and operating results for the three months ended March 29, 2026 and are not necessarily indicative of the results that may be expected for the year ending December 31, 2026 or any future period.

Significant Accounting Policies and Recent Accounting Pronouncements

Our significant accounting policies are disclosed in our Annual Report on Form 10-K for the year ended December 31, 2025.

There have been no significant changes to such policies except for the item below during the nine months ended September 28, 2025.

We invested in a strategic investment, which consists of non-marketable securities in a privately held company in which we do not have a controlling interest or significant influence.

We apply the measurement alternative for non-marketable equity securities that do not have readily determinable fair values, measuring them at cost, less any impairment, plus or minus adjustments resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer.

For this investment, we recognize remeasurement adjustments, including upward and downward adjustments, and impairments, if any, in other non-operating income (expense), net on the unaudited condensed consolidated statements of comprehensive income (loss).

The strategic investment is subject to periodic impairment analysis, which involves an assessment of both qualitative and quantitative factors, including the investee’s financial metrics, market acceptance of the investee’s product or technology, and the rate at which the investee is using its cash.

An impairment loss is recorded when an event or circumstance indicates a decline in value has occurred.

If the strategic investment is considered impaired, we will recognize an impairment through other non-operating income (expense), net on the unaudited condensed consolidated statements of comprehensive income (loss) and establish a new carrying value for the investment.

During the three months ended March 29, 2026, there have been no significant changes to such policies except for the items below.

Business combinations

We account for business combinations using the acquisition method of accounting in accordance with ASC 805, Business Combinations .

The purchase consideration for business combinations is measured at fair value as of the acquisition date and includes the fair value of assets transferred, liabilities incurred, and equity interests issued, as well as the fair value of any contingent consideration arrangements.

Transaction costs associated with business combinations, such as legal, accounting, and advisory fees, are expensed as incurred and included in other operating expense on our unaudited condensed consolidated statements of operations and comprehensive income (loss).

The results of operations of acquired businesses are included in our unaudited condensed consolidated financial statements from the respective acquisition dates.

Identifiable assets acquired and liabilities assumed are recognized at their acquisition‑date fair values.

Any excess of the purchase consideration over the fair value of the identifiable net assets acquired is recorded as goodwill.

Goodwill represents the future economic benefits arising from assets acquired that are not individually identifiable and separately recognized.

Goodwill is not amortized but is subject to impairment testing at least annually, or more frequently if events or changes in circumstances indicate that the asset may be impaired.

The determination of the acquisition‑date fair values of assets acquired and liabilities assumed requires management to make significant estimates and assumptions, including assumptions related to forecasted cash flows, discount rates, expected useful lives of intangible assets, and the probability and timing of contingent payments.

These estimates are based on information available as of the acquisition date and on assumptions management believes are reasonable;

however, actual results may differ from those estimates.

The initial accounting for business combinations may be incomplete as of the reporting date.

In such cases, provisional amounts are recorded based on the best information available, and these amounts may be adjusted during the measurement period as additional information is obtained related to facts and circumstances that existed as of the acquisition date.

Measurement period adjustments are recorded retrospectively, with corresponding adjustments to goodwill.

The measurement period ends when we receive the information we were seeking about facts and circumstances that existed as of the acquisition date, or when it is determined that no additional information is obtainable, but shall not exceed one year from the acquisition date.

ARLO TECHNOLOGIES, INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

Acquired intangible assets

Intangible assets acquired in a business combination are recorded at their estimated fair values at the acquisition date.

Intangible assets with finite lives are amortized on a straight-line basis over their estimated respective useful lives, which is based on our expected period of benefit, generally range from five to thirteen years .

Amortization expense is recorded as cost of revenue or general and administrative operating expense on our unaudited condensed consolidated statements of operations and comprehensive income (loss).

Intangible assets are assessed for impairment annually or whenever events or changes in circumstances indicate that the carrying value of assets may not be recoverable.

Accounting pronouncements recently adopted

There were no accounting pronouncements adopted during the nine months ended September 28, 2025.

During the three months ended March 29, 2026, we adopted Accounting Standards Update (“ASU”) No.

2023-06, Credit Losses:

Measurement of Credit Losses for Accounts Receivable and Contract Assets, which provides a practical expedient permitting companies to assume that conditions at the balance sheet date remain unchanged over the life of the asset when estimating expected credit losses for current accounts receivable and current contract assets.

This adoption did not have a material effect on our financial statements.

Accounting pronouncements not yet effective

Disclosure improvements.

In October 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No.

In October 2023, the Financial Accounting Standards Board (“FASB”) issued ASU No.

2023-06, Disclosure Improvements:

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The adoption of this new standard will not have a material impact on our financial statements and related disclosures.

ARLO TECHNOLOGIES, INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

Income Tax Disclosures.

In December 2023, the FASB issued ASU No.

2023-09, Income Taxes:

Improvements to Income Tax Disclosures, which requires on an annual basis to (1) disclose specific categories in the rate reconciliation, (2) provide additional information for reconciling items that meet a quantitative threshold, and (3) disclose income taxes paid disaggregated by jurisdiction.

This guidance is effective for annual periods beginning after December 15, 2024, with early adoption permitted.

We are currently evaluating the impact that this guidance may have on our financial statements and related disclosures.

Expense disaggregation disclosures.

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We are currently evaluating the impact that this guidance may have on our financial statements and related disclosures.

Credit Losses Accounting.

In July 2025, the FASB issued ASU No.

2025-05, Financial Instruments - Credit

This guidance is effective for annual periods beginning after December 15, 2025, and interim reporting periods within those annual reporting periods.

Early adoption is permitted and is effective on a prospective basis.

We plan to adopt this guidance for our fiscal year beginning January 1, 2026, and we do not expect it to have a material effect on our financial statements.

Software development costs accounting and disclosure.

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Contract balances

The following table reflects the changes in contract balances for the nine months ended September 28, 2025:

The following table reflects the changes in contract balances for the three months ended March 29, 2026:

Contract Classification

Balance Sheet Classification

September 28, 2025 December 31, 2024 $ change % change

March 29, 2026 December 31, 2025 $ change % change

(In thousands)

2 unchanged sentences

Contract liabilities, non-current Other non-current liabilities $ 1,239 $ 1,476 $ ( 237 ) ( 16.1 ) %

Receivables are recorded in the period we deliver products or provide subscriptions and services when we have an unconditional right to payment.

Contract assets are related to the value of products or subscriptions and services transferred to the customer for which the right to payment is not just dependent on the passage of time.

As of September 28, 2025, there were no contract assets.

Contract liabilities are recognized when we receive payment or have an unconditional right to payment in advance of the satisfaction of performance.

Receivables increased primarily due to higher product and service sales.

Contract liabilities increased primarily due to increases in subscriptions and services revenue as a result of changes in consumer subscription plans and a shift to additional annual prepaid subscriptions, as well as increases in cumulative paid accounts and rates of subscriptions.

For the nine months ended September 28, 2025 and September 29, 2024, $ 25.6 million and $ 17.3 million, respectively, of the recognized revenue was included in deferred revenue at the beginning of the periods.

As of March 29, 2026, there were no contract assets.

For the three months ended March 29, 2026 and March 30, 2025, $ 21.4 million and $ 14.6 million, respectively, of the recognized revenue was included in deferred revenue at the beginning of the periods.

There were no significant changes in estimates during the periods that would affect the contract balances.

Remaining performance obligations

The total estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied and remaining was $ 43.1 million as of September 28, 2025 and $ 29.5 million as of December 31, 2024, substantially related to performance obligations classified as less than one year .

The total estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied and remaining was $ 54.6 million as of March 29, 2026 and $ 40.6 million as of December 31, 2025, substantially related to performance obligations classified as less than one year .

Under the Supply Agreement with Verisure Sàrl (“Verisure”), our largest customer, a performance obligation is not deemed to exist until we receive and accept Verisure’s purchase order.

As of September 28, 2025, we had a backlog of $ 17.6 million which represents performance obligations that will be recognized as revenue once fulfilled, which is expected to occur over the next six months .

As of March 29, 2026, we had a backlog of $ 43.4 million which represents performance obligations that will be recognized as revenue once fulfilled, which is expected to occur over the next six months .

Variable consideration

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NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

Three Months Ended Nine Months Ended

Sales Incentives September 28,

2025 September 29,

2024 September 28,

2025 September 29,

Three Months Ended

Sales incentives March 29,

2026 March 30,

(In thousands)

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Balance at the end of the period $ 26,450 $ 28,378

Three Months Ended Nine Months Ended

Sales Returns September 28,

2025 September 29,

2024 September 28,

2025 September 29,

Three Months Ended

Sales returns March 29,

2026 March 30,

(In thousands)

2 unchanged sentences

( 2,789 ) ( 5,503 )

5,242 7,314 10,430 12,859

Balance at the end of the period $ 7,202 $ 8,963

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The following table presents revenue disaggregated by geographic region.

Three Months Ended Nine Months Ended

September 28,

2025 September 29,

2024 September 28,

2025 September 29,

Three Months Ended

2026 March 30,

(In thousands)

3 unchanged sentences

Total $ 150,382 $ 119,066

For the three months ended September 28, 2025 and September 29, 2024, one customer accounted for 36 % and 42 % of the total revenue, respectively.

For the nine months ended September 28, 2025 and September 29, 2024, one customer accounted for 35 % and 45 % of the total revenue, respectively.

No other customers accounted for 10% or greater of the total revenue.

As of September 28, 2025, two customers accounted for 51 % and 15 %, and as of December 31, 2024, two customers accounted for 54 % and 13 % of the total accounts receivable, net.

For the three months ended March 29, 2026 and March 30, 2025, one customer accounted for 40 % and 36 % of the total revenue, respectively.

No other customer accounted for 10% or greater of the total revenue.

As of March 29, 2026, one customer accounted for 60 %, and as of December 31, 2025, two customers accounted for 40 % and 17 % of the total accounts receivable, net.

No other customers accounted for 10% or greater of the total accounts receivable, net.

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NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

Business Combinations

Canary Connect, Inc.

On March 11, 2026, we entered into, and simultaneously closed an Asset Purchase Agreement with Canary Connect, Inc.

(“Canary”), a New York-based Internet of Things (“IoT”) company that designs and sells smart home security devices and SaaS solutions.

The purpose of this transaction is to expand our presence in the AI-driven smart home security market.

The transaction is accounted for as a business combination in accordance with ASC 805, Business Combinations .

As a result of the transaction, we obtained control of Canary by obtaining the ability to direct its ongoing operations and to receive substantially all of the economic benefits associated.

As part of this transaction, we also entered into a Transitional Service Agreement with Canary and a Platform Transformation Agreement with Smartfrog & Canary Holdings, Inc.

(“Smartfrog Group”) in order to continue servicing Canary’s existing customers and subscribers.

We allocate the purchase consideration to the identifiable assets acquired and liabilities assumed in this business combination based on their acquisition-date fair values, which is determined using income and market-based valuation techniques that require significant judgments and assumptions, including projected revenue, profitability and cash flows.

Goodwill recognized through our business combinations represents the excess of the purchase price over the fair value of identifiable net assets and is primarily attributable to expected synergies and operational efficiencies and anticipated future economic benefits.

The resulting goodwill from the Canary acquisition is deductible for income tax purposes.

The preliminary fair value estimates of the net assets acquired are based upon preliminary calculations and valuations, and those estimates and assumptions are subject to change as we obtain additional information for those estimates during the measurement period, which is up to one year from the acquisition date.

The acquired intangible assets will be amortized over their estimated useful lives.

The acquisition date fair value of the consideration transferred consisted of the following (in thousands):

Cash paid at close $ 36,000

Fixed deferred acquisition consideration

Total purchase consideration $ 48,907

The purchase price allocation are as follows (in thousands):

Assets acquired:

Inventory $ 1,911

Intangible assets 19,490

Goodwill 27,506

Total assets acquired $ 48,907

Liabilities assumed:

Total liabilities assumed $ —

Fair value of assets acquired and liabilities assumed, net $ 48,907

During the three months ended March 29, 2026, we recorded $ 0.5 million acquisition-related costs, which are expensed when incurred and included in other operating expense on the unaudited condensed consolidated statements of operations and comprehensive income (loss).

ARLO TECHNOLOGIES, INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

During the three months ended March 29, 2026, Canary’s results of operations are not material and are included within our unaudited condensed consolidated financial statements from an effective date of March 1, 2026.

The effect of this business combination was not material to our financial results.

Therefore, the actual and pro-forma results of operations subsequent to the acquisition date to March 29, 2026 have not been presented.

Aloe Care Health, Inc.

On April 16, 2026, we entered into, and simultaneously closed a Merger Agreement with Aloe Care Health, Inc.

(“Aloe Care”), a privately held company that provides an AI-powered medical alert and fall prevention platform for patients and their caregivers.

The transaction is intended to accelerate the expansion of our AI-powered services for aging-in-place care in collaboration with health providers, patients and their families.

Under the Merger Agreement, we acquired 100 % of the outstanding equity interests of Aloe Care in exchange for (i) $ 15.0 million of cash consideration paid at closing;

and (ii) contingent earnout of up to $ 25.0 million, payable, at our option, in cash, shares of our common stock, or a combination of cash and shares, subject to the terms of the Merger Agreement.

The transaction will be accounted for as a business combination in accordance with ASC 805, Business Combinations .

As a result of the transaction, we obtained control of Aloe Care by obtaining the ability to direct its ongoing operations and to receive substantially all of the economic benefits associated with Aloe Care.

During the three months ended March 29, 2026, we recorded $ 0.8 million acquisition-related costs, which are expensed when incurred and included in other operating expense on the unaudited condensed consolidated statements of operations and comprehensive income (loss).

The initial accounting for this business combination is incomplete at the date of this filing as a result of limited time between the acquisition date and the filing date.

Accordingly, certain disclosures required under ASC 805, Business Combinations , including the preliminary fair values of assets acquired and liabilities assumed, pre-acquisition contingencies and any residual goodwill have not been provided.

We are in the process of gathering the necessary information to complete the accounting for the transaction.

Such information will be included in our Quarterly Report on Form 10-Q for the quarter ending on June 28, 2026.

ARLO TECHNOLOGIES, INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

Balance Sheet Components

Short-term investments

As of September 28, 2025 As of December 31, 2024

As of March 29, 2026 As of December 31, 2025

Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value

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Treasuries $ 14,863 $ — $ ( 1 ) $ 14,862 $ 19,980 $ 5 $ — $ 19,985

Accounts Receivable, Net

September 28,

2025 December 31,

(In thousands)

Gross accounts receivable $ 76,866 $ 57,464

Allowance for credit losses ( 168 ) ( 132 )

Total $ 76,698 $ 57,332

The following table provides a roll-forward of the allowance for credit losses that is deducted from the amortized cost basis of accounts receivable to present the net amount expected to be collected.

Three Months Ended Nine Months Ended

September 28,

2025 September 29,

2024 September 28,

2025 September 29,

(In thousands)

Balance at the beginning of the period $ 202 $ 142 $ 132 $ 333

Provision for (release of) expected credit losses

( 34 ) 79 36 ( 112 )

Balance at the end of the period $ 168 $ 221 $ 168 $ 221

Property and equipment, net

The components of property and equipment are as follows.

September 28,

2026 December 31,

10 unchanged sentences

Total property and equipment, net $ 14,178 $ 13,158

For comparative purposes, amounts in prior periods have been recast.

ARLO TECHNOLOGIES, INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

Depreciation and amortization expense pertaining to property and equipment are as follows:

Three Months Ended Nine Months Ended

September 28,

2025 September 29,

2024 September 28,

2025 September 29,

Three Months Ended

2026 March 30,

(In thousands)

5 unchanged sentences

Total depreciation and amortization $ 1,697 $ 829

We have determined that no event occurred or circumstances changed during the nine months ended September 28, 2025 that would more likely than not reduce the fair value of goodwill below the carrying amount.

There was no accumulated goodwill impairment recognized as of September 28, 2025.

We have determined that no event occurred or circumstances changed during the three months ended March 29, 2026 that would more likely than not reduce the fair value of goodwill below the carrying amount.

There was no accumulated goodwill impairment recognized as of March 29, 2026.

ARLO TECHNOLOGIES, INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

Intangible assets, net

Intangible assets acquired through business combination as of March 29, 2026 were as follows:

Gross carrying amount Weighted-average remaining useful lives

(In thousands)

Customer relationship $ 8,450 10 years

Proprietary technologies

9,930 5 - 10 years

1,110 13 years

Total intangible assets $ 19,490

Amortization of intangible assets resulting from business combination for the month of March 2026 since the acquisition date was de-minimis.

There were no intangible assets impairment recognized as of March 29, 2026.

The expected future amortization expense for intangible assets as of March 29, 2026 was as follows (in thousands):

2026 (Remaining nine months) $ 1,512

Thereafter 9,874

Total $ 19,490

Accrued liabilities

September 28,

2026 December 31,

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The following table summarizes assets measured at fair value on a recurring basis:

September 28,

2026 December 31,

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(1) Included in short-term investments on our unaudited condensed consolidated balance sheets.

Our investments in cash equivalents and marketable securities are classified within Level 1 of the fair value hierarchy because they are valued based on quoted market prices in active markets.

As of September 28, 2025 and December 31, 2024, assets and liabilities measured as Level 2 fair value were not material.

Our strategic equity investment without readily determinable fair value is classified within Level 3 of the fair value hierarchy and the subsequent adjustment to its fair value by applying the measurement alternative will be disclosed as non-recurring fair value measurement and included in the level of the fair value hierarchy that was used.

As of September 28, 2025, the carrying value of our strategic equity investment was $ 12.5 million.

There was no observable price change or impairment during the nine months ended September 28, 2025.

Our short-term investments in cash equivalents and marketable securities are classified within Level 1 of the fair value hierarchy because they are valued based on quoted market prices in active markets.

As of March 29, 2026 and December 31, 2025, assets and liabilities measured as Level 2 fair value were not material.

Sale of long-term investment

During the three months ended March 29, 2026, we sold our investment in connection with a privately held company’s acquisition by a public company.

This investment was accounted for as an equity security without a readily determinable fair value and was measured at cost, less impairment, adjusted for observable price changes in orderly transactions for the identical or similar investment in the same issuer in accordance with ASC 321, Investments-Equity Securities .

Upon completion of the sale, we received total cash proceeds of $ 18.9 million and recognized a realized gain of $ 6.4 million, representing the excess of proceeds received over the carrying value of the investment.

The gain from the sale of the investment is included in other income (expense), net on the unaudited condensed consolidated statements of operations and comprehensive income (loss).

Our Chief Executive Officer served on the board of directors of the privately held company and, as a result, the investee is considered a related party and the sale of our investment is a related party transaction.

As of March 29, 2026, there were no financial assets measured at fair value on a recurring basis within Level 3 fair value measurements.

Our non-financial assets, such as property and equipment, goodwill, and intangible assets are assessed for impairment annually or whenever events or changes in circumstances indicate that the carrying value of an asset or asset group may not be recoverable.

ARLO TECHNOLOGIES, INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

Revolving Credit Facility

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The Credit Agreement provides for a three-year revolving credit facility (the “Credit Facility”) of up to $ 45.0 million that matures on November 14, 2027, which also includes a $ 10.0 million sublimit for the issuance thereunder of letters of credit.

As of September 28, 2025, we had unused borrowing capacity of $ 45.0 million based on the terms and conditions of the Credit Agreement.

As of March 29, 2026, we had unused borrowing capacity of $ 45.0 million based on the terms and conditions of the Credit Agreement.

In addition, the Credit Agreement includes an uncommitted accordion feature that allows us to, from time to time, request an increase to the aggregate revolving loan commitments by up to an additional $ 30.0 million in the aggregate, subject to the satisfaction of certain conditions.

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both covenants being tested quarterly on a trailing four consecutive fiscal quarter basis.

As of September 28, 2025, we were in compliance with all the covenants under the Credit Agreement.

No amount had been drawn under the Credit Facility as of September 28, 2025.

ARLO TECHNOLOGIES, INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

As of March 29, 2026, we were in compliance with all the covenants under the Credit Agreement.

No amount had been drawn under the Credit Facility as of March 29, 2026.

Commitments and Contingencies

3 unchanged sentences

The terms of certain leases provide for rental payments on a graduated scale.

Gross lease expense was $ 1.2 million and $ 4.0 million for the three and nine months ended September 28, 2025, respectively, and $ 1.4 million and $ 4.2 million for the three and nine months ended September 29, 2024, respectively.

Gross lease expense was $ 0.8 million and $ 1.4 million for the three months ended March 29, 2026 and March 30, 2025, respectively.

Supplemental cash flow information related to operating leases is as follows:

Nine Months Ended

September 28,

2025 September 29,

Three Months Ended

2026 March 30,

(In thousands)

3 unchanged sentences

Operating leases $ — $ 13

ARLO TECHNOLOGIES, INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

Weighted average remaining lease term and weighted average discount rate related to operating leases are as follows:

September 28,

2026 December 31,

1 unchanged sentence

Weighted average discount rate 7.74 % 7.68 %

ARLO TECHNOLOGIES, INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

The future minimum undiscounted lease payments under operating leases for each of the next five years and thereafter are as follows:

September 28, 2025

(In thousands)

2025 (Remaining three months) $ 412

The future minimum undiscounted lease payments under operating leases for each of the next five years and thereafter as of March 29, 2026 were as follows:

2026 (Remaining nine months) $ 1,922

Thereafter 2,622

5 unchanged sentences

Total lease liabilities $ 8,233

In July 2025, we entered into a conditional termination agreement for our office lease located in San Jose, California.

The termination became effective following the landlord’s exercise of its termination option, which exercise notice was provided in late July.

Our obligation stipulated in the agreement includes a termination fee of $ 1.0 million and base rent through the effective date of termination, as well as vacating the premises timely.

We recorded the derecognition of right-of-use assets and lease liabilities and recognized a gain of $ 4.1 million, net of $ 1.6 million write-off loss from sublease and $ 1.0 million lease termination fees, upon the termination effective in the third quarter of 2025.

Contemporaneously with this termination, our sublease arrangement was terminated and our letter of credit in connection with this lease was released as of September 28, 2025.

Purchase obligations

2 unchanged sentences

Orders are non-cancelable within 30 days prior to the expected shipment date.

As of September 28, 2025, we had $ 28.9 million in non-cancelable purchase commitments with suppliers which is expected to be paid over the next twelve months .

As of September 28, 2025, an additional $ 15.6 million of purchase orders beyond contractual termination periods have been issued to supply chain partners in anticipation of demand requirements.

As of March 29, 2026, we had $ 35.6 million in non-cancelable purchase commitments with suppliers which is expected to be paid over the next twelve months .

As of March 29, 2026, an additional $ 29.9 million of purchase orders beyond contractual termination periods have been issued to supply chain partners in anticipation of demand requirements.

Consequently, we may incur expenses for the materials and components, such as chipsets already purchased by the supplier to fulfill our orders if the purchase order is cancelled.

Expenses incurred have historically not been material relative to the original order value.

Tariff matters

government has implemented tariff measures affecting a broad range of imported materials, and these measures have been subject to change.

We are actively monitoring the changes in global trade policy and the effects they may have on our business and broader macroeconomic environment.

Given the uncertainty surrounding global markets as a result of the fluid U.S.

tariff policy, we do not have clarity at this point over the potential medium to long term impacts our business may face.

We continue to monitor and evaluate these developments and assess their potential impact on our business, financial condition, and results of operations.

As of March 29, 2026, we have not recorded any receivables for potential tariff refunds or derecognition of tariff liabilities.

ARLO TECHNOLOGIES, INC.

4 unchanged sentences

Significant judgment is required to determine both the probability and the estimated amount of loss.

In such cases, we accrue for the amount or, if a range, we accrue the low end of the range, only if there is not a better estimate than any other amount within the range, as litigation reserves in other operating expense on the unaudited condensed consolidated statements of comprehensive income (loss).

We monitor developments in these legal matters that could affect the estimate we had previously accrued.

8 unchanged sentences

The maximum potential amount of future payments we could be required to make under these indemnification agreements is, in many cases, unlimited.

As of September 28, 2025 and December 31, 2024, we have not incurred any material costs as a result of such indemnification obligations and we are not currently aware of any indemnification claims.

ARLO TECHNOLOGIES, INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

As of March 29, 2026 and December 31, 2025, we have not incurred any material costs as a result of such indemnification obligations and we are not currently aware of any indemnification claims.

Employee Benefit Plans

2 unchanged sentences

Award vesting periods for the 2018 Plan are generally three to five years .

As of September 28, 2025, 5.2 million shares were available for future grants.

As of March 29, 2026, 3.3 million shares were available for future grants.

Options may be granted for periods of up to 10 years or such shorter term as may be provided in the agreement and at prices no less than 100 % of the fair market value of Arlo’s common stock on the date of grant.

Options granted under the 2018 Plan generally vest over four years , the first tranche at the end of 12 months and the remaining shares underlying the option vesting monthly over the remaining three years .

On January 24, 2025, we registered an aggregate of up to 5,050,450 shares of common stock on a Registration Statement on Form S-8, including 4,050,450 shares under the 2018 Plan and 1,000,000 shares under the Employee Stock Purchase Plan (“ESPP”), both pursuant to an “evergreen” provision contained in the respective plans.

On July 29, 2025, the Compensation and Human Capital Committee of the Board of Directors unanimously approved an amendment to the 2018 Plan to reserve an additional 1,500,000 shares of our common stock to be used exclusively for grants of awards to individuals who were not previously employees or non-employee directors, as an inducement to the individual’s employment with us within the meaning of Rule 303A.08 of the New York Stock Exchange Listed Company Manual.

On August 28, 2025, we registered an aggregate of up to 1,500,000 shares of common stock on a Registration Statement on Form S-8.

The following table sets forth the available shares for grants as of September 28, 2025:

Options granted under the 2018 Plan generally vest over three to four years , the first tranche at the end of 12 months and the remaining shares underlying the option vesting monthly over the remaining years.

On January 23, 2026, we registered an aggregate of up to 4,200,189 shares of common stock under the 2018 Plan on a Registration Statement on Form S-8 pursuant to an “evergreen” provision contained in the 2018 Plan.

ARLO TECHNOLOGIES, INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

The following table sets forth the available shares for grants as of March 29, 2026:

Number of Shares

4 unchanged sentences

Forfeited / expired / cancelled 105

Shares available for grants as of September 28, 2025

Shares available for grants as of March 29, 2026

Employee stock purchase plan

We sponsor the ESPP for eligible employees, under which, employees purchased 155 thousand shares and 233 thousand shares during the nine months ended September 28, 2025 and September 29, 2024, respectively.

As of September 28, 2025, 3.3 million shares were available for issuance under the ESPP.

ARLO TECHNOLOGIES, INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

We sponsor the ESPP for eligible employees.

There were no ESPP purchases during either the three months ended March 29, 2026 or March 30, 2025.

As of March 29, 2026, 3.1 million shares were available for issuance under the ESPP.

Option activity

We did not grant options during the nine months ended September 28, 2025.

Stock option activity during the nine months ended September 28, 2025 was as follows:

We did not grant options during the three months ended March 29, 2026.

Stock option activity during the three months ended March 29, 2026 was as follows:

Number of Shares Weighted Average Exercise Price Per Share

4 unchanged sentences

Expired / cancelled — $ —

Outstanding as of September 28, 2025

Vested and exercisable as of September 28, 2025

RSU activity, exclusive of PSU activity, during the nine months ended September 28, 2025 was as follows:

Outstanding as of March 29, 2026

Vested and exercisable as of March 29, 2026

RSU activity, exclusive of PSU activity, during the three months ended March 29, 2026 was as follows:

Number of Shares Weighted Average Grant Date Fair Value Per Share

4 unchanged sentences

Forfeited / cancelled ( 102 ) $ 12.66

Outstanding as of September 28, 2025

Our executive officers and other senior employees have been granted PSUs with some vesting occurring when performance conditions are met and some vesting occurring at the end of a three or five-year period when market conditions are met.

The number of units earned and eligible to vest are determined based on the achievement of various performance conditions or market conditions, including annual recurring revenue, cumulative paid accounts, subscriptions and services gross margin, stock price, and the recipients’ continued services.

At the end of each reporting period, we evaluate the probability of achieving the performance and record the related stock-based compensation expense based on the estimated achievement over the service period.

Outstanding as of March 29, 2026

6,535 $ 11.17

ARLO TECHNOLOGIES, INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

PSU activity during the nine months ended September 28, 2025 was as follows:

Our executive officers and other senior employees have been granted PSUs with some vesting occurring when performance conditions are met.

The number of units earned and eligible to vest are determined based on the achievement of various performance conditions, including annual recurring revenue, cumulative paid accounts, subscriptions and services gross profit and gross margin, and the recipients’ continued services.

At the end of each reporting period, we evaluate the probability of achieving the performance conditions and record the related stock-based compensation expense based on the estimated achievement over the service period.

PSU activity during the three months ended March 29, 2026 was as follows:

Number of Shares Weighted Average Grant Date Fair Value Per Share

1 unchanged sentence

Outstanding as of December 31, 2025

2,970 $ 10.56

Granted 2,887 $ 14.15

1 unchanged sentence

Forfeited / cancelled ( 3 ) $ 8.28

Outstanding as of September 28, 2025

Outstanding as of March 29, 2026

3,920 $ 11.18

Stock-based compensation expense

The following table sets forth the stock-based compensation expense by line item on the unaudited condensed consolidated statements of comprehensive income (loss):

Three Months Ended Nine Months Ended

September 28,

2025 September 29,

2024 September 28,

2025 September 29,

The following table sets forth the stock-based compensation expense by line item on the unaudited condensed consolidated statements of operations and comprehensive income (loss):

Three Months Ended

2026 March 30,

(In thousands)

6 unchanged sentences

Total stock-based compensation $ 20,039 $ 17,613

As of September 28, 2025, all outstanding options were fully vested, therefore, there was no unrecognized compensation cost related to stock options.

As of September 28, 2025, $ 57.8 million of unrecognized compensation cost related to unvested RSUs and PSUs is expected to be recognized over a weighted-average period of 1.2 years.

As of March 29, 2026, all outstanding options were fully vested, therefore, there was no unrecognized compensation cost related to stock options.

As of March 29, 2026, $ 106.6 million of unrecognized compensation cost related to unvested RSUs and PSUs is expected to be recognized over a weighted-average period of 2.3 years.

ARLO TECHNOLOGIES, INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

The provision for income taxes for the three and nine months ended September 28, 2025 was $ 0.2 million and $ 0.4 million, respectively, or an effective tax rate of 2.2 % and 4.2 %, respectively.

The provision for income taxes for the three and nine months ended September 29, 2024 was $ 0.3 million and $ 1.0 million, respectively, or an effective tax rate of ( 8.0 )% and ( 3.9 )%, respectively.

Provision for income taxes decreased for the three and nine months ended September 28, 2025, compared to the prior year periods, primarily due to lower international tax on account of expected research and development credits in Ireland and the removal by the One Big Beautiful Bill Act (“OBBBA”) of the mandatory capitalization and amortization requirements for U.S.

research and development expenditures previously enacted under the Tax Cuts and Jobs Act (“TCJA”).

Although the tax provision declined, the effective tax rate increased compared to the prior year period reflecting the shift from pre-tax loss in the prior year period to pre-tax income in the current year period.

The lower effective tax rate for the three and nine months ended September 28, 2025, compared to the U.S.

federal income tax rate, is primarily due to the valuation allowance on our net U.S.

deferred tax assets and the impact of a lower tax rate on foreign earnings.

We regularly evaluate the realizability of our net deferred tax assets.

As of September 28, 2025, all our U.S.

deferred tax assets, net of deferred tax liabilities, were subject to a valuation allowance.

If our financial results continue to improve, our assessment of the realization of our U.S.

net deferred tax assets could result in the release of some or all the valuation allowance.

Such a release would result in a material non-cash income tax benefit in our consolidated statements of comprehensive income (loss) in the period of release and the recording of additional deferred tax assets on our consolidated balance sheets.

There is a reasonable possibility that within the next several quarters, sufficient positive evidence will become available to reach a conclusion that all or a significant portion of the valuation allowance against our U.S.

The provision for income taxes for the three months ended March 29, 2026 was $ 0.4 million or an effective tax rate of 2.7 % .

The provision for income taxes for the three months ended March 30, 2025 was $ 0.5 million or an effective tax rate of ( 150.8 )%.

Provision for income taxes decreased for the three months ended March 29, 2026, compared to the prior year period, primarily due to the elimination of the mandatory capitalization of research and development expenses, resulting in higher current deductions, lower taxable income and a reduced income tax provision.

The lower effective tax rate for the three months ended March 29, 2026, compared to the U.S.

federal statutory rate, is primarily driven by lower tax rate on foreign earnings and valuation allowance on our net U.S.

deferred tax assets and certain foreign tax attributes.

We evaluated the realizability of deferred tax assets on a jurisdictional basis in accordance with ASC 740 Income taxes .

A valuation allowance is maintained when it is more-likely-than-not that some portion or all of the deferred tax assets will not be realized.

As of March 29, 2026, we continue to maintain a full valuation allowance against our deferred tax assets at both federal and state levels.

In making this determination, we considered all available positive and negative evidence, with greater weight given to objectively verifiable evidence.

Although we have recently generated cumulative pre-tax income, we determined that we have not yet demonstrated a sustained level of profitability sufficient to support realization of the deferred tax assets.

We also considered forecasted future taxable income;

however, such projections are inherently uncertain and do not outweigh the available negative evidence.

Based on the totality of evidence, we concluded that it is not more-likely-than-not that the deferred tax assets will be realized.

Accordingly, a full valuation allowance has been maintained as of March 29, 2026.

There is a reasonable possibility that within the next few quarters, sufficient positive evidence will become available to reach a conclusion that all or a significant portion of the valuation allowance against our U.S.

net deferred tax assets would no longer be required.

On July 4, 2025, the OBBBA, a significant tax reform package, was enacted.

Included in this legislation are provisions that allow for the immediate expensing of domestic U.S.

research and development expenses, and certain capital expenditures, as well as other changes to the U.S.

taxation of profits derived from foreign operations.

Management is continuing to evaluate the provisions of the OBBBA, including treatment of previously capitalized domestic U.S.

research and development expenses.

Based on information available to date, management does not expect the enactment of the OBBBA to have a material impact on our consolidated financial statements;

however, the ultimate effect may differ from the amounts reflected in the interim financial statements once the analysis is complete and elections are finalized.

ARLO TECHNOLOGIES, INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

Net Income (Loss) Per Share

Three Months Ended Nine Months Ended

September 28,

2025 September 29,

2024 September 28,

2025 September 29,

Earnings (Loss) Per Share

Three Months Ended

2026 March 30,

(In thousands, except per share data)

Net income (loss) $ 14,877 $ ( 835 )

Weighted average shares - basic 105,198 99,731 103,776 97,932

Weighted-average common shares outstanding - basic 106,995 102,217

Effect of dilutive stock-based awards 3,493 —

Weighted average shares - diluted 109,638 99,731 108,664 97,932

Net income (loss) per share - basic $ 0.07 $ ( 0.04 ) $ 0.09 $ ( 0.26 )

Net income (loss) per share - diluted $ 0.06 $ ( 0.04 ) $ 0.08 $ ( 0.26 )

Weighted-average common shares outstanding - diluted 110,488 102,217

Earnings (loss) per share - basic $ 0.14 $ ( 0.01 )

Earnings (loss) per share - diluted $ 0.13 $ ( 0.01 )

Anti-dilutive employee stock-based awards, excluded 635 572

4 unchanged sentences

We operate as one operating and reportable segment.

Our Chief Executive Officer (“CEO”) is identified as the Chief Operating Decision Maker (“CODM”), who reviews financial information presented in a consolidated basis and considers budget-to-actual variances quarterly for allocation of operating and capital resources and evaluation of financial performance.

Our Chief Executive Officer (“CEO”) is identified as the Chief Operating Decision Maker (“CODM”), who reviews financial information presented on a consolidated basis and considers budget-to-actual variances quarterly for allocation of operating and capital resources and evaluation of financial performance.

The CODM does not review segment assets at a different asset level and category.

The consolidated net income (loss) is the measure of segment net income (loss) that is most consistent with U.S.

The CODM is regularly provided with not only the consolidated expenses on our unaudited condensed consolidated statements of comprehensive income (loss), but also the significant segment expenses and other segment items as below:

Three Months Ended Nine Months Ended

September 28,

2025 September 29,

2024 September 28,

2025 September 29,

The CODM is regularly provided with not only the consolidated expenses on our unaudited condensed consolidated statements of operations and comprehensive income (loss), but also the significant segment expenses and other segment items as below:

Three Months Ended

2026 March 30,

(In thousands)

9 unchanged sentences

1,045 ( 494 )

Depreciation 534 282 1,609 1,069

Depreciation and amortization 441 557

Gain on sale of long-term investment

Interest expense 59 86

5 unchanged sentences

_________________________

(1) Other segment items include corporate IT and facility overhead, freight out expense, restructuring charges, separation expense, litigation reserves, gain on early lease termination, interest income, foreign currency exchange gain (loss), net and others.

(1) Other segment items include acquisition-related expense, corporate IT and facility overhead, freight out expense, workforce reduction costs, interest income, foreign currency exchange gain (loss), net and others.

ARLO TECHNOLOGIES, INC.

5 unchanged sentences

The following table presents revenue by geographic area.

Three Months Ended Nine Months Ended

September 28,

2025 September 29,

2024 September 28,

2025 September 29,

Three Months Ended

2026 March 30,

(In thousands)

8 unchanged sentences

The following table presents long-lived assets by geographic area.

September 28,

2026 December 31,

4 unchanged sentences

Stock Repurchase Program

On September 24, 2024, we announced that our Board of Directors approved a stock repurchase program of up to an aggregate of $ 50.0 million of shares of Arlo’s common stock through open market purchases in a manner deemed to be in the best interests of our company and stockholders, considering the economic cost and prevailing market conditions, including the relative trading prices and volumes of Arlo’s common stock.

On February 3, 2026, our Board of Directors approved a stock repurchase program for up to an aggregate of $ 50.0 million of shares of Arlo’s common stock through open market purchases in a manner deemed to be in the best interests of our company and stockholders, considering the economic cost and prevailing market conditions, including the relative trading prices and volumes of Arlo’s common stock.

The stock repurchase program is expected to continue through December 31, 2027, unless extended or shortened by the Board of Directors.

1 unchanged sentence

Shares may be repurchased through open market purchases or privately negotiated transactions, including through the use of trading plans intended to qualify under Rule 10b5-1 under the Securities Exchange Act of 1934, as amended.

During the nine months ended September 28, 2025, we repurchased and subsequently retired 2.1 million shares of Arlo common stock for an aggregate repurchase amount of $ 26.8 million.

As of September 28, 2025, $ 18.8 million remained available and authorized for future repurchases.

During the three months ended March 29, 2026, we repurchased and subsequently retired 0.6 million shares of Arlo common stock for an aggregate repurchase amount of $ 8.0 million.

As of March 29, 2026, $ 42.0 million remained available and authorized for future repurchases.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements