Arlo Adopts New Stock Repurchase Program
Key Highlights
- ➤Arlo authorizes $100 million share repurchase program through December 31, 2028
- ➤Repurchases will use open-market purchases under Rule 10b-18
- ➤CEO Matthew McRae says shares are undervalued relative to long-term value
Expert Statements
Matthew McRae, Chief Executive Officer of Arlo Technologies
“The authorization of a new stock repurchase program of this magnitude reflects our board and management’s belief that our shares are undervalued relative to the company’s long-term value. This program underscores our commitment to delivering value to stockholders while continuing to invest in other pillars of our capital allocation plan.”
Matthew McRae, Chief Executive Officer of Arlo Technologies
“We believe the new repurchase program also sends a powerful message with respect to the confidence in our business and future growth opportunities.”
Arlo Technologies, Inc . (NYSE: ARLO), a leading provider of smart home security services, recently announced that its Board of Directors has approved the repurchase of up to an aggregate of $100 million of shares of its common stock through December 31, 2028, using open market purchases in a manner deemed to be in the best interests of the company and its stockholders.
“The authorization of a new stock repurchase program of this magnitude reflects our board and management’s belief that our shares are undervalued relative to the company’s long-term value. This program underscores our commitment to delivering value to stockholders while continuing to invest in other pillars of our capital allocation plan,” said Matthew McRae, Chief Executive Officer of Arlo Technologies. “We believe the new repurchase program also sends a powerful message with respect to the confidence in our business and future growth opportunities.”
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