Slide 1: Investor Presentation
Investor Presentation February 26, 2026 © 2026 – A LL RI G HTS RES ERVED
Slide 2: Safe Harbor Disclosure
SAFE HARBOR DISCLOSURE This presentation contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. The words “anticipate,” “expect,” “believe,” “will,” “may,” “should,” “estimate,” “project,” “outlook,” “forecast” or other similar words are
Slide 3: Q4 & Full Year 2025 Performance Review
Q4 & Full Year 2025 Performance Review ARLO INVESTOR PRESENTATION: FEBRUARY 2026 3 ©2026. ALL RIGHTS RESERVED.
Slide 4: Overview
Rule of 40 Overview Quick View 45 Arlo Q4 2025 Q4 SaaS Score $141M Revenue (total) Above range Above the high end of our guidance range Above range $89M Service Revenue Paid accounts Up more than 39% year over year Excellent execution Etc $330M ARR Up more than 28% year over year Rule of 40 = 45 Ser
Slide 5: Execution: 2025 Product Refresh
Execution: 2025 Product Refresh Arlo delivered the largest product launch in company history in 2025 in conjunction with a significant update to our subscription service platform. The team executed flawlessly, driving success in Q4 and serving as the foundation for a strong 2026. • Arlo 6 launched n
Slide 6: Paid Account Monthly Churn Rate
Paid Account Monthly Churn Rate(5) Outstanding Unit Economics Security Service Ranked as Least Likely to Cancel Retail Accounts = 89% of ARR 1.0% $15.3 $917 2.0% Retail ARPU (1) Retail LTV (2) 4.0% 4.5% 94% $229 Retail Gross Margin (3) Retail CAC (4) 6.0% 6.0% 7.5% 4.0x LTV to CAC (4) 8.7% (1) Avera
Slide 7: Goals for 2025
Goals for 2025 Arlo is set up for a successful year with past investments coming to fruition and numerous opportunities to drive service revenue growth and shareholder value. 1 SaaS Platform Innovation Powerful AI features and platform enhancements 2 Comprehensive Device Launch The largest product l
Slide 8: Q4 & Full Year 2025 Operating Results
Q4 & Full Year 2025 Operating Results ARLO INVESTOR PRESENTATION: FEBRUARY 2026 8 ©2026. ALL RIGHTS RESERVED.
Slide 9: 2025 Operational Excellence
2025 Original 2025 Actual 2025 Operational Excellence Guidance Results Total Revenue $510 - $540M $529M 1 Service Revenue and EPS above guidance Top-line and Bottom-Line Outperformance Service Revenue $300M $316M 2 Significant Acceleration in Profitability Above Range Despite Tariff Impacts 3 Except
Slide 10: Paid Accounts & Annual Recurring Revenue (ARR)
Paid Accounts & Annual Recurring Revenue (ARR) Recent Product Launch drove 24% Y/Y Growth 28% Y/Y Growth 23% 24% Y/Y Growth POS Growth in 2H 2025 $330.5 5,687 $323.2 $315.7 Annual ARPU Growth of 5,396 21% 5,115 4,897 $276.4 $257.3 4,599 Fueled Strong ARR Results Monthly Subscriber Churn of 1% Q4’24
Slide 11: Subscriptions and Services Revenue & Gross Margin
Subscriptions and Services Revenue & Gross Margin 2025 Services Revenue 39% Y/Y Growth 230bpts Y/Y Growth $316M Up 30% year-over-year $89.4 85.1% $79.9 84.9% 84.0% $78.2 83.1% 2025 Services Revenue $68.8 81.7% 60% $64.1 of Total Revenue 2025 Gross Margin of 84% Q4‘25 For Full Year Q4’24 Q1’25 Q2‘25
Slide 12: Gross Profit & Margin and Adjusted EBITDA & Margin
Gross Profit & Margin and Adjusted EBITDA & Margin 2025 Gross Profit of 48% Y/Y Growth 138% Y/Y Growth $239M Up 24% year-over-year $67.6 $23.3 $59.3 $57.7 $54.1 Q4 Consolidated GM% up $18.0 $17.1 1030 bps $16.4 $45.6 47.8% Over Prior Year 45.5% 45.8% 16.5% 41.4% 37.5% $9.8 13.8% 13.9% 12.2% 8% 2025
Slide 13: Earnings Per Share and Free Cash Flow
Earnings Per Share and Free Cash Flow Q4 Non-GAAP Dilutive EPS of 75% $0.70 38% $66.9 $0.22 Y/Y Growth Y/Y Growth Up 100%+ over prior year +$0.30 +$18.3m $48.6 2025 Net Income of $0.40 $77M Up 83% year-over-year 2025 Free Cash Flow Margin of 12.6% Up 310 basis points year-over-year 2024 2025 2024 20
Slide 14: Balance Sheet Metrics
Balance Sheet Metrics Ending Cash & Cash Equivalents $166M $166 64 $151 up $15M 44 5.9 DSOs Decline to 26 26 Days Driven by Services Acceleration Share Repurchase Plan returns $45 M of Capital to Shareholders Q4‘24 Q4‘25 Q4‘24 Q4‘25 Q4‘24 Q4‘25 Cash & ST Investments DSO Inventory Turns (Millions) (d
Slide 15: Continuing Growth: Looking Ahead
Looking Ahead Continuing Growth ARLO INVESTOR PRESENTATION: FEBRUARY 2026 15 ©2026. ALL RIGHTS RESERVED.
Slide 16: Growth Drivers Unique SaaS Platform
Growth Drivers Unique SaaS Platform Arlo is poised for continued strong growth and is executing a multi-factor A sophisticated and performant SaaS platform built over the last 10 years strategy to achieve our long-range plan. This growth will come from gains in with artificial intelligence at its co
Slide 17: Tap for Help Across Devices
Tap for Help Connects Samsung users to Arlo’s emergency services to help in the case of fire, medical, theft, or other safety events. Across Devices Button or widget will be available across Samsung mobile phones, tablets, and future devices for ubiquitous access to help. Massive Reach Available as
Slide 18: ARLO INVESTOR PRESENTATION: FEBRUARY 2026
+ ARLO INVESTOR PRESENTATION: FEBRUARY 2026 18 ©2026. ALL RIGHTS RESERVED.
Slide 19: Arlo Capital Allocation Plan
Arlo Capital Allocation Plan Arlo Cash Balance - $166 million at December 2025 Organic Investment Reinvest capital into organic growth opportunities • Next Generation platforms • Arlo Intelligence Organic • SaaS platform expansion Share • Device roadmap expansion Repurchase • Adjacent sales, marketi
Slide 20: Rule of 40
SELECTED US LISTED SOFTWARE COMPANIES WITH C Y 2 0 2 5 E R U L E O F 4 0 O F 3 5 % - 4 5 % (1) ARR Growth Rate – CY 2025 28.4% Adj EBITDA Margin – CY 2025 14.1% Rule of 40 – CY 2025 42.5% Subscriptions and Services Revenue Multiple – CY 2025 3.2x Revenue multiple for all companies Multiple for compa
Slide 21: Q1 & Full Year 2026 Financial Outlook
Q1 & Full Year 2026 Financial Outlook ARLO INVESTOR PRESENTATION: FEBRUARY 2026 21 ©2026. ALL RIGHTS RESERVED.
Slide 22: Q1 2026 Guide and FY 2026 Guide
Q1 2026 Guide FY 2026 Guide Total Revenue $135 - $145M $550 - $580M Earnings per Share $0.17 - $0.23 $0.75 - $0.85 (non-GAAP) Service Revenue $375 - $385M ARLO INVESTOR PRESENTATION: FEBRUARY 2026 22 ©2026. ALL RIGHTS RESERVED.
Slide 23: Where We Started, Today, Current Long-Range Plan
Where We Started Today Current Long-Range Plan FINANCIAL RESULTS FOR 2020 FINANCIAL RESULTS FOR 2025 TARGETS FOR ≤ 2030 435k 5.7 Million 10 Million Paid Accounts Paid Accounts Paid Accounts $47 Million $330 Million $700 Million In ARR In ARR In ARR (16)% 14% >25% Adjusted EBITDA Margin Adjusted EBIT
Slide 24: Investor Highlights: Innovation + Execution
Innovation + Execution Investor Highlights ARLO INVESTOR PRESENTATION: FEBRUARY 2026 24 ©2026. ALL RIGHTS RESERVED.
Slide 25: Arlo protects your everything.
Arlo protects your everything. Arlo is a subscription software business in the smart security segment powered by a scaled, secure, and sophisticated platform with groundbreaking AI capabilities called Arlo Intelligence. We win on focus, innovation, and our privacy pledge. Arlo’s solutions have led t
Slide 26: Large, Growing, & Underpenetrated
Global Market Estimated @ 2-3x US Large, Growing, & Underpenetrated Smart Home Security Market Broader DIY Smart Home (Consumer, US) Arlo participates in the broader home security market that is $13.4B sized in the US at $25B in 2025 Adjacent Markets Estimated @ 3-4x TAM is further expanded by Europ
Slide 27: Arlo At A Glance
Arlo At A Glance AI-Powered SaaS business in the Smart Security space Subscriptions and Subscriptions and Annual Recurring Services Services % of Revenue Gross Margin Total Revenue $330M 84% 63% ARR Growth YoY LTV/CAC Ratio Rule of 40 28% 4.0x 42.5 Measures represent full year 2025 or year end exit
Slide 28: Looking Ahead
Looking Ahead Arlo is set up for another successful year with past investments coming to fruition and numerous opportunities to drive service revenue growth and shareholder value. 1 SaaS Platform Innovation Powerful AI features driving engagement & subscription revenue 2 Continued Growth in Current
Slide 29: © 2026 – A LL RI G HTS RES ERVED
© 2026 – A LL RI G HTS RES ERVED
Slide 30: Appendix: GAAP to non-GAAP Reconciliations
Appendix GAAP to non-GAAP Reconciliations
Slide 31: Reconciliations of GAAP Measures to Non-GAAP Measures
Reconciliations of GAAP Measures to Non-GAAP Measures Gross Profit, in thousands, except percentage data ARLO INVESTOR PRESENTATION: FEBRUARY 2026 31 ©2026. ALL RIGHTS RESERVED.
Slide 32: Reconciliations of GAAP Measures to Non-GAAP Measures
Reconciliations of GAAP Measures to Non-GAAP Measures Adjusted EBITDA, in thousands, except percentage data ARLO INVESTOR PRESENTATION: FEBRUARY 2026 32 ©2026. ALL RIGHTS RESERVED.