Arlo Technologies approves $50 million share buyback program

Arlo Technologies Inc. (NYSE: ARLO) announced that its board of directors has authorized a share repurchase program of up to $50 million of the company's common stock through open market purchases.

The smart home security company said the repurchases will be conducted in a manner deemed to be in the best interests of the company and its stockholders, considering economic cost and prevailing market conditions, including relative trading prices and volumes of Arlo's common stock.

"The Board's authorization of a share repurchase program of up to $50 million through December 31, 2027 reflects Arlo's belief in the upside potential as we execute our long-range plan, along with continued improvements in profitability and cash position," said Matthew McRae, chief executive officer of Arlo Technologies.

The repurchases are expected to be conducted pursuant to Rule 10b-18 of the Securities Exchange Act of 1934. The repurchase program is scheduled to continue through December 31, 2027, unless extended or shortened by the board of directors.

McRae described the program as one pillar of the company's capital allocation plan, designed to ensure shareholder return over time. The announcement was made in a press release statement from the Carlsbad, California-based company.

Arlo Technologies develops smart home security solutions including wireless security cameras, video doorbells, floodlights and subscription services.

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