vs
Side-by-side financial comparison of Arlo Technologies, Inc. (ARLO) and SPS COMMERCE INC (SPSC). Click either name above to swap in a different company.
SPS COMMERCE INC is the larger business by last-quarter revenue ($192.7M vs $141.3M, roughly 1.4× Arlo Technologies, Inc.). SPS COMMERCE INC runs the higher net margin — 13.4% vs 4.1%, a 9.3% gap on every dollar of revenue. On growth, Arlo Technologies, Inc. posted the faster year-over-year revenue change (16.2% vs 12.7%). Over the past eight quarters, SPS COMMERCE INC's revenue compounded faster (13.5% 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.
SPS Commerce, Inc. is a technology and application software company based in the United States that provides cloud-based supply chain management software. The company's headquarters are located in Minneapolis, Minnesota, but it also has a US office in New Jersey, and international locations in Amsterdam, Beijing, Breukelen, Hong Kong, Kyiv, Melbourne, Montpellier, Sydney, and Toronto.
ARLO vs SPSC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $141.3M | $192.7M |
| Net Profit | $5.8M | $25.8M |
| Gross Margin | 46.4% | 70.4% |
| Operating Margin | 3.3% | 18.0% |
| Net Margin | 4.1% | 13.4% |
| Revenue YoY | 16.2% | 12.7% |
| Net Profit YoY | 218.6% | 47.2% |
| EPS (diluted) | $0.06 | $0.69 |
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 | $192.7M | ||
| Q3 25 | $139.5M | $189.9M | ||
| Q2 25 | $129.4M | $187.4M | ||
| Q1 25 | $119.1M | $181.5M | ||
| Q4 24 | $121.6M | $170.9M | ||
| Q3 24 | $137.7M | $163.7M | ||
| Q2 24 | $127.4M | $153.6M | ||
| Q1 24 | $124.2M | $149.6M |
| Q4 25 | $5.8M | $25.8M | ||
| Q3 25 | $6.9M | $25.6M | ||
| Q2 25 | $3.1M | $19.7M | ||
| Q1 25 | $-835.0K | $22.2M | ||
| Q4 24 | $-4.9M | $17.6M | ||
| Q3 24 | $-4.4M | $23.5M | ||
| Q2 24 | $-11.6M | $18.0M | ||
| Q1 24 | $-9.6M | $18.0M |
| Q4 25 | 46.4% | 70.4% | ||
| Q3 25 | 40.5% | 69.5% | ||
| Q2 25 | 44.9% | 68.1% | ||
| Q1 25 | 44.3% | 68.7% | ||
| Q4 24 | 36.9% | 67.5% | ||
| Q3 24 | 35.2% | 68.5% | ||
| Q2 24 | 36.8% | 66.1% | ||
| Q1 24 | 38.1% | 65.6% |
| Q4 25 | 3.3% | 18.0% | ||
| Q3 25 | 0.6% | 16.4% | ||
| Q2 25 | 1.5% | 14.1% | ||
| Q1 25 | -1.2% | 14.3% | ||
| Q4 24 | -5.0% | 14.5% | ||
| Q3 24 | -4.0% | 15.6% | ||
| Q2 24 | -10.0% | 15.1% | ||
| Q1 24 | -8.5% | 10.3% |
| Q4 25 | 4.1% | 13.4% | ||
| Q3 25 | 4.9% | 13.5% | ||
| Q2 25 | 2.4% | 10.5% | ||
| Q1 25 | -0.7% | 12.2% | ||
| Q4 24 | -4.0% | 10.3% | ||
| Q3 24 | -3.2% | 14.3% | ||
| Q2 24 | -9.1% | 11.7% | ||
| Q1 24 | -7.8% | 12.0% |
| Q4 25 | $0.06 | $0.69 | ||
| Q3 25 | $0.06 | $0.67 | ||
| Q2 25 | $0.03 | $0.52 | ||
| Q1 25 | $-0.01 | $0.58 | ||
| Q4 24 | $-0.05 | $0.46 | ||
| Q3 24 | $-0.04 | $0.62 | ||
| Q2 24 | $-0.12 | $0.48 | ||
| Q1 24 | $-0.10 | $0.48 |
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 | $151.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $127.8M | $973.9M |
| Total Assets | $310.5M | $1.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $146.4M | $151.4M | ||
| Q3 25 | $86.0M | $133.7M | ||
| Q2 25 | $71.2M | $107.6M | ||
| Q1 25 | $84.0M | $94.9M | ||
| Q4 24 | $82.0M | $241.0M | ||
| Q3 24 | $77.0M | $205.8M | ||
| Q2 24 | $62.9M | $271.8M | ||
| Q1 24 | $62.1M | $290.8M |
| Q4 25 | $127.8M | $973.9M | ||
| Q3 25 | $129.2M | $958.9M | ||
| Q2 25 | $118.3M | $949.8M | ||
| Q1 25 | $103.4M | $920.9M | ||
| Q4 24 | $100.9M | $854.7M | ||
| Q3 24 | $96.9M | $829.4M | ||
| Q2 24 | $99.3M | $703.4M | ||
| Q1 24 | $99.9M | $683.0M |
| Q4 25 | $310.5M | $1.2B | ||
| Q3 25 | $350.9M | $1.2B | ||
| Q2 25 | $319.7M | $1.1B | ||
| Q1 25 | $296.6M | $1.1B | ||
| Q4 24 | $298.4M | $1.0B | ||
| Q3 24 | $312.4M | $1.0B | ||
| Q2 24 | $295.8M | $854.5M | ||
| Q1 24 | $289.8M | $839.8M |
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 | $45.9M |
| Free Cash FlowOCF − Capex | — | $38.2M |
| FCF MarginFCF / Revenue | — | 19.8% |
| Capex IntensityCapex / Revenue | — | 4.0% |
| Cash ConversionOCF / Net Profit | 3.43× | 1.78× |
| TTM Free Cash FlowTrailing 4 quarters | — | $152.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $19.8M | $45.9M | ||
| Q3 25 | $19.2M | $60.6M | ||
| Q2 25 | $8.8M | $32.3M | ||
| Q1 25 | $30.9M | $40.0M | ||
| Q4 24 | $6.7M | $40.6M | ||
| Q3 24 | $18.4M | $53.3M | ||
| Q2 24 | $6.5M | $29.4M | ||
| Q1 24 | $19.8M | $34.1M |
| Q4 25 | — | $38.2M | ||
| Q3 25 | — | $54.6M | ||
| Q2 25 | — | $25.7M | ||
| Q1 25 | $28.1M | $33.8M | ||
| Q4 24 | $5.6M | $34.3M | ||
| Q3 24 | $17.4M | $48.1M | ||
| Q2 24 | $6.2M | $24.4M | ||
| Q1 24 | $19.4M | $30.5M |
| Q4 25 | — | 19.8% | ||
| Q3 25 | — | 28.7% | ||
| Q2 25 | — | 13.7% | ||
| Q1 25 | 23.6% | 18.6% | ||
| Q4 24 | 4.6% | 20.1% | ||
| Q3 24 | 12.6% | 29.4% | ||
| Q2 24 | 4.8% | 15.9% | ||
| Q1 24 | 15.7% | 20.4% |
| Q4 25 | — | 4.0% | ||
| Q3 25 | — | 3.2% | ||
| Q2 25 | — | 3.6% | ||
| Q1 25 | 2.4% | 3.4% | ||
| Q4 24 | 0.9% | 3.6% | ||
| Q3 24 | 0.7% | 3.2% | ||
| Q2 24 | 0.2% | 3.3% | ||
| Q1 24 | 0.3% | 2.4% |
| Q4 25 | 3.43× | 1.78× | ||
| Q3 25 | 2.79× | 2.37× | ||
| Q2 25 | 2.83× | 1.64× | ||
| Q1 25 | — | 1.80× | ||
| Q4 24 | — | 2.31× | ||
| Q3 24 | — | 2.27× | ||
| Q2 24 | — | 1.63× | ||
| Q1 24 | — | 1.89× |
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% |
SPSC
| Recurring Revenues | $184.5M | 96% |
| One Time Revenues | $8.1M | 4% |
| Set Up Fees | $4.1M | 2% |
