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Side-by-side financial comparison of Arlo Technologies, Inc. (ARLO) and INDEPENDENT BANK CORP (INDB). Click either name above to swap in a different company.
INDEPENDENT BANK CORP is the larger business by last-quarter revenue ($212.5M vs $141.3M, roughly 1.5× Arlo Technologies, Inc.). INDEPENDENT BANK CORP runs the higher net margin — 35.5% vs 4.1%, a 31.4% gap on every dollar of revenue. On growth, INDEPENDENT BANK CORP posted the faster year-over-year revenue change (46.9% vs 16.2%). Over the past eight quarters, INDEPENDENT BANK CORP's revenue compounded faster (24.3% CAGR vs 6.7%).
Arlo Technologies is an American company that makes wireless surveillance cameras. Prior to an initial public offering (IPO) on the New York Stock Exchange in August 2018, Arlo was a brand of such products by Netgear, which retained majority control after the IPO.
Independent Bank is a bank headquartered in Grand Rapids, Michigan. The bank has 62 branches, all of which are in Michigan.
ARLO vs INDB — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $141.3M | $212.5M |
| Net Profit | $5.8M | $75.3M |
| Gross Margin | 46.4% | — |
| Operating Margin | 3.3% | — |
| Net Margin | 4.1% | 35.5% |
| Revenue YoY | 16.2% | 46.9% |
| Net Profit YoY | 218.6% | 50.6% |
| EPS (diluted) | $0.06 | $1.51 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $141.3M | $212.5M | ||
| Q3 25 | $139.5M | $203.3M | ||
| Q2 25 | $129.4M | $147.5M | ||
| Q1 25 | $119.1M | $145.5M | ||
| Q4 24 | $121.6M | $144.7M | ||
| Q3 24 | $137.7M | $141.7M | ||
| Q2 24 | $127.4M | $137.9M | ||
| Q1 24 | $124.2M | $137.4M |
| Q4 25 | $5.8M | $75.3M | ||
| Q3 25 | $6.9M | $34.3M | ||
| Q2 25 | $3.1M | $51.1M | ||
| Q1 25 | $-835.0K | $44.4M | ||
| Q4 24 | $-4.9M | $50.0M | ||
| Q3 24 | $-4.4M | $42.9M | ||
| Q2 24 | $-11.6M | $51.3M | ||
| Q1 24 | $-9.6M | $47.8M |
| Q4 25 | 46.4% | — | ||
| Q3 25 | 40.5% | — | ||
| Q2 25 | 44.9% | — | ||
| Q1 25 | 44.3% | — | ||
| Q4 24 | 36.9% | — | ||
| Q3 24 | 35.2% | — | ||
| Q2 24 | 36.8% | — | ||
| Q1 24 | 38.1% | — |
| Q4 25 | 3.3% | — | ||
| Q3 25 | 0.6% | 21.8% | ||
| Q2 25 | 1.5% | 44.6% | ||
| Q1 25 | -1.2% | 39.3% | ||
| Q4 24 | -5.0% | — | ||
| Q3 24 | -4.0% | 39.0% | ||
| Q2 24 | -10.0% | 48.1% | ||
| Q1 24 | -8.5% | 45.5% |
| Q4 25 | 4.1% | 35.5% | ||
| Q3 25 | 4.9% | 16.8% | ||
| Q2 25 | 2.4% | 34.6% | ||
| Q1 25 | -0.7% | 30.5% | ||
| Q4 24 | -4.0% | 34.6% | ||
| Q3 24 | -3.2% | 30.3% | ||
| Q2 24 | -9.1% | 37.2% | ||
| Q1 24 | -7.8% | 34.8% |
| Q4 25 | $0.06 | $1.51 | ||
| Q3 25 | $0.06 | $0.69 | ||
| Q2 25 | $0.03 | $1.20 | ||
| Q1 25 | $-0.01 | $1.04 | ||
| Q4 24 | $-0.05 | $1.18 | ||
| Q3 24 | $-0.04 | $1.01 | ||
| Q2 24 | $-0.12 | $1.21 | ||
| Q1 24 | $-0.10 | $1.12 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $146.4M | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $127.8M | $3.6B |
| Total Assets | $310.5M | $24.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $146.4M | — | ||
| Q3 25 | $86.0M | — | ||
| Q2 25 | $71.2M | — | ||
| Q1 25 | $84.0M | — | ||
| Q4 24 | $82.0M | — | ||
| Q3 24 | $77.0M | — | ||
| Q2 24 | $62.9M | — | ||
| Q1 24 | $62.1M | — |
| Q4 25 | $127.8M | $3.6B | ||
| Q3 25 | $129.2M | $3.5B | ||
| Q2 25 | $118.3M | $3.1B | ||
| Q1 25 | $103.4M | $3.0B | ||
| Q4 24 | $100.9M | $3.0B | ||
| Q3 24 | $96.9M | $3.0B | ||
| Q2 24 | $99.3M | $2.9B | ||
| Q1 24 | $99.9M | $2.9B |
| Q4 25 | $310.5M | $24.9B | ||
| Q3 25 | $350.9M | $25.0B | ||
| Q2 25 | $319.7M | $20.0B | ||
| Q1 25 | $296.6M | $19.9B | ||
| Q4 24 | $298.4M | $19.4B | ||
| Q3 24 | $312.4M | $19.4B | ||
| Q2 24 | $295.8M | $19.4B | ||
| Q1 24 | $289.8M | $19.3B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $19.8M | $78.9M |
| Free Cash FlowOCF − Capex | — | $75.5M |
| FCF MarginFCF / Revenue | — | 35.5% |
| Capex IntensityCapex / Revenue | — | 1.6% |
| Cash ConversionOCF / Net Profit | 3.43× | 1.05× |
| TTM Free Cash FlowTrailing 4 quarters | — | $239.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $19.8M | $78.9M | ||
| Q3 25 | $19.2M | $52.2M | ||
| Q2 25 | $8.8M | $106.7M | ||
| Q1 25 | $30.9M | $13.3M | ||
| Q4 24 | $6.7M | $42.9M | ||
| Q3 24 | $18.4M | $70.2M | ||
| Q2 24 | $6.5M | $65.6M | ||
| Q1 24 | $19.8M | $51.1M |
| Q4 25 | — | $75.5M | ||
| Q3 25 | — | $49.7M | ||
| Q2 25 | — | $102.5M | ||
| Q1 25 | $28.1M | $11.3M | ||
| Q4 24 | $5.6M | $36.5M | ||
| Q3 24 | $17.4M | $64.4M | ||
| Q2 24 | $6.2M | $61.9M | ||
| Q1 24 | $19.4M | $46.7M |
| Q4 25 | — | 35.5% | ||
| Q3 25 | — | 24.4% | ||
| Q2 25 | — | 69.5% | ||
| Q1 25 | 23.6% | 7.8% | ||
| Q4 24 | 4.6% | 25.2% | ||
| Q3 24 | 12.6% | 45.4% | ||
| Q2 24 | 4.8% | 44.9% | ||
| Q1 24 | 15.7% | 34.0% |
| Q4 25 | — | 1.6% | ||
| Q3 25 | — | 1.2% | ||
| Q2 25 | — | 2.9% | ||
| Q1 25 | 2.4% | 1.4% | ||
| Q4 24 | 0.9% | 4.4% | ||
| Q3 24 | 0.7% | 4.1% | ||
| Q2 24 | 0.2% | 2.7% | ||
| Q1 24 | 0.3% | 3.2% |
| Q4 25 | 3.43× | 1.05× | ||
| Q3 25 | 2.79× | 1.52× | ||
| Q2 25 | 2.83× | 2.09× | ||
| Q1 25 | — | 0.30× | ||
| Q4 24 | — | 0.86× | ||
| Q3 24 | — | 1.64× | ||
| Q2 24 | — | 1.28× | ||
| Q1 24 | — | 1.07× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ARLO
| Subscriptions And Services | $89.4M | 63% |
| Products | $51.9M | 37% |
INDB
Segment breakdown not available.
