Arlo Smart Subscriptions Surge 72%
Subscriptions to Arlo Smart – which allows users to store 30 days of video recordings and provides intelligent alerts via an app – has surged during COVID-19 lockdowns, with 43,000 paid accounts added in Q2. This represents quarter-on-quarter growth of 72%.
“Our new business model that includes a free 90-day trial of Arlo Smart continues to show very strong conversion rates and once again we set records for registered accounts, paid accounts and service revenue,” said Matthew McRae CEO of Arlo Technologies.
“The launch of the Arlo Essential Spotlight Camera, the latest addition to our award-winning smart home security ecosystem, completes our transition to this new business model and addressees the fastest-growing price segment in the market. I believe the second quarter marks an inflection point in our subscription business and expect this momentum to continue.”
The Arlo Essential Spotlight Camera (RRP: A$229) was launched in Australia yesterday. This security camera offers 1080p HD video, two-way audio, an integrated spotlight and motion alerts.
Nevertheless, Arlo’s revenue fell by 20.3% year-on-year in Q2 to $66.6 million.
“I am extraordinarily proud of the team at Arlo for their remarkable execution in outperforming our expectations for the quarter, delivering top and bottom line results above the upper end of our guidance, despite supply and go-to-market challenges,” said McRae.