NETGEAR Inc (NASDAQ:NTGR) Q2 2024 Results Conference Call July 31, 2024 5:00 PM ET

Company Participants

Erik Bylin - IR
C.J. Prober - CEO
Bryan Murray - CFO

Conference Call Participants

Adam Tindle - Raymond James

Operator

Ladies and gentlemen, thank you for standing by. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. [Operator Instructions].

I would now like to turn the conference over to Erik Bylin. Please go ahead.

Erik Bylin

Thank you, operator. Good afternoon and welcome to NETGEAR's second quarter of 2024 financial results conference call. Joining us from the company are Mr. CJ Prober, CEO; and Mr. Bryan Murray, CFO. The format of the call, we'll start with commentary on the business provided by CJ, followed by a review of the financials for the second quarter and guidance for the third quarter provided by Bryan. We'll then have time for any questions. If you've not received a copy of today's release, please visit NETGEAR's Investor Relations website at www.netgear.com.

Before we begin the formal remarks, we advise you that today's conference call contains forward-looking statements. Forward-looking statements include statements regarding expected revenue, operating margins, tax expense, expenses and future business outlook. Actual results or trends could differ materially from those contemplated by these forward-looking statements. For more information, please refer to the risk factors discussed in NETGEAR's periodic filings with the SEC, including the most recent Form 10-K.

Any forward-looking statements that we make on this call are based on assumptions as of today and NETGEAR undertakes no obligation to update these statements as a result of new information or future events except as required by law. In addition several non-GAAP financial measures will be mentioned on this call. A reconciliation of the non-GAAP to GAAP measures can be found in today's press release on our Investor Relations website.

At this time, I would now like to turn the call over to CJ.

C.J. Prober

Good afternoon, and welcome to today's call. On our call last quarter, I outlined a plan for transforming NETGEAR with a focus on creating long-term value for shareholders. Q2 was a foundational first step in this transformation, and I'm happy to report that, it was a very successful quarter. We outlined a series of decisive actions to address some of our immediate challenges and the team delivered with stellar execution.

Some of these actions represent a dramatic shift in how NETGEAR has operated over the past several years, and we were able to adapt without losing a beat in the midst of a significant strategic reorganization. This gives me a ton of confidence in our ability to build on this momentum and deliver on our long-term value creation goals.