The Company today provided an update to its business outlook for the third fiscal quarter ending September 29, 2024. The updated guidance reflects the above-referenced litigation settlement, as well as the earlier than anticipated launch of its next generation 5G mobile hotspot in the third quarter which was previously expected to occur in the fourth quarter of 2024.

As such, NETGEAR currently expects GAAP operating margin for the third quarter of 2024 to be between 48.0% and 51.0%, compared to prior guidance of (15.3)% to (12.3)%, with the change primarily driven by the TP-Linksettlement and the profits from the expected increase in revenue.

As such, NETGEAR currently expects Non-GAAP operating margin for Q3 to be between (4.0)% and (1.0)%, compared to prior guidance of (11.0)% to (8.0)%, with the change primarily driven by the settlement and the profits from the expected increase in revenue