Netgear (NTGR) Q3 FY2026 earnings: revenue $167 million, down 9.3% on the year

Netgear, Inc. (NTGR) reported revenue of $167 million for Q3 FY2026, the quarter ended 27 September 2026, down 9.3% on the same quarter a year earlier. Net income was -$12 million, and diluted earnings per share $-0.45. The figures are the company's own, from the 10-Q it filed with the SEC on 4 November 2026.

Revenue

$167 million

-9.3% on the year · -0.7% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

-8.2%

-3.8% a year earlier

Q4 FY2024Q3 FY2026

Net income

-$12 million

Q4 FY2024Q3 FY2026

Diluted EPS

-$0.45

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 8 new.

Net revenue down 9.3% year over year: Net revenue was $167.3 million, against $168.6 million in Q2 2026 and $184.6 million in Q3 2025. Management attributed the year-over-year decline to supply constraints and the Consumer strategy.
Non-GAAP operating income positive; GAAP loss: Non-GAAP operating income was $3.3 million, a 2.0% non-GAAP operating margin, while the GAAP operating loss was $13.7 million.
Enterprise gross margin expanded: Enterprise non-GAAP contribution margin was 24.5%, down 40 basis points; non-GAAP gross margin was 53.2%, up 220 basis points.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	167	169	185	-0.7%	-9.3%
Cost of revenue	100	101	112	-0.5%	-10.7%
Gross profit	67.1	67.8	72.3	-1.0%	-7.1%
Gross margin	40.1%	40.2%	39.1%
Research and development	22.3	22.3	23.3	-0.2%	-4.5%
Operating income	-13.7	-8.4	-7.1
Operating margin	-8.2%	-5.0%	-3.8%
Pre-tax income	-12.7	-6.7	-4.0
Income tax	-0.4	0.5	0.7
Net income	-12.3	-7.3	-4.8
Net margin	-7.3%	-4.3%	-2.6%
Diluted EPS	-$0.45	-$0.27	-$0.17

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	-3.8	-10.2	-7.4
Capital expenditure	1.4	1.5	9.7	-2.3%	-85.4%
Free cash flow	-5.2	-11.6	-17.1
Free cash flow margin	-3.1%	-6.9%	-9.3%
Cash from investing	28.6	18.4	-9.7	+55.0%
Cash from financing	-20.7	-17.5	-20.5
Depreciation and amortisation	4.0	3.6	1.8	+10.1%	+118.0%
Share-based compensation	9.8	10.0	8.8	-1.8%	+11.7%
Buybacks	15.0	12.9	20.0	+16.5%	-25.0%
Diluted shares, weighted	27m	27m	29m	+0.1%	-5.5%
Shares outstanding at period end	27m	27m	28m	-1.7%	-6.1%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	438	456	507	-3.9%	-13.5%
Debt	0.0	0.0	0.0
Operating lease liabilities	31.8	35.5	43.0	-10.5%	-26.1%
Other liabilities	285	297	261	-4.0%	+9.2%
Total liabilities and equity	755	789	811	-4.2%	-6.9%
Fixed assets	24.2	25.4	23.1	-4.7%	+4.5%
Goodwill	45.0	45.0	45.8	0.0%	-1.7%
Intangible assets	34.2	35.6	4.1	-4.0%	+739.3%
Investments	72.4	102	132	-29.3%	-45.0%
Cash and equivalents	178	174	203	+2.4%	-12.3%
Receivables	156	153	160	+2.3%	-2.2%
Inventory	169	175	167	-3.2%	+1.7%
Other assets	75.3	78.2	76.2	-3.8%	-1.2%
Total assets	755	789	811	-4.2%	-6.9%

Questions

What was Netgear's revenue in Q3 FY2026?

Netgear (NTGR) reported revenue of $167 million for Q3 FY2026, the quarter ended 27 September 2026, down 9.3% on the same quarter a year earlier.

How much did Netgear earn in Q3 FY2026?

Net loss for Q3 FY2026 was $12 million, and the diluted loss per share $0.45.

When did Netgear report Q3 FY2026 results?

Netgear filed its 10-Q for the quarter ended 27 September 2026 with the SEC on 4 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	251	211	223	250	249	181	173	198	189	165	144	183	182	162	171	185	182	159	169	167
Cost of revenue	176	152	162	181	187	121	119	129	123	116	112	126	123	106	107	112	109	94.5	101	100
Gross profit	74.7	58.9	61.4	68.5	61.7	60.4	54.3	68.9	65.6	48.2	31.8	56.5	59.4	56.3	64.0	72.3	73.6	64.3	67.8	67.1
Gross margin	30%	28%	28%	27%	25%	33%	31%	35%	35%	29%	22%	31%	33%	35%	38%	39%	40%	40%	40%	40%
R&D	23.1	23.8	22.2	22.2	20.2	22.1	20.8	20.7	19.6	20.2	19.9	20.9	20.1	18.3	20.8	23.3	23.2	21.7	22.3	22.3
Operating income	0.9	-58.5	-10.1	-2.2	-12.2	-12.0	-17.8	-0.6	-2.9	-21.6	-46.9	95.8	-15.1	-12.8	-9.5	-7.1	-4.7	-13.6	-8.4	-13.7
Operating margin	0%	-28%	-5%	-1%	-5%	-7%	-10%	-0%	-2%	-13%	-33%	52%	-8%	-8%	-6%	-4%	-3%	-9%	-5%	-8%
Pre-tax income	-0.3	-59.5	-10.9	-1.5	-10.1	-10.6	-9.8	1.6	-0.4	-18.8	-44.1	99.3	-11.5	-4.6	-5.6	-4.0	-2.5	-12.0	-6.7	-12.7
Tax rate	n/a	n/a	n/a	n/a	n/a	n/a	n/a	5296%	n/a	n/a	n/a	14%	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Net income	-1.0	-57.2	-8.5	2.8	-6.0	-9.7	-8.6	-84.8	-1.7	-18.6	-45.2	85.1	-8.9	-6.0	-6.4	-4.8	-0.7	-13.0	-7.3	-12.3
Net margin	-0%	-27%	-4%	1%	-2%	-5%	-5%	-43%	-1%	-11%	-31%	47%	-5%	-4%	-4%	-3%	-0%	-8%	-4%	-7%
Diluted EPS	-$0.01	-$1.95	-$0.30	$0.10	-$0.21	-$0.33	-$0.29	-$2.87	-$0.06	-$0.63	-$1.56	$2.90	-$0.31	-$0.21	-$0.22	-$0.17	-$0.02	-$0.47	-$0.27	-$0.45
Operating cash flow	3.9	1.3	5.2	-15.2	-4.9	9.1	-34.6	26.1	56.3	17.2	18.4	108	21.5	-8.7	-1.8	-7.4	19.5	1.6	-10.2	-3.8
Capital expenditure	2.9	1.0	1.1	2.1	1.6	0.9	0.7	2.0	2.2	2.5	2.3	1.7	2.5	1.4	3.5	9.7	5.9	3.8	1.5	1.4
Free cash flow	1.0	0.3	4.1	-17.3	-6.6	8.3	-35.3	24.0	54.1	14.7	16.1	106	19.0	-10.1	-5.3	-17.1	13.6	-2.2	-11.6	-5.2
Buybacks	21.4	9.4	15.0	0.0	0.0	0.0	0.0	0.0	0.0	11.4	10.0	1.5	10.2	8.2	7.5	20.0	15.0	20.2	12.9	15.0
Shares outstanding	29m	29m	29m	29m	29m	29m	29m	30m	30m	29m	29m	29m	29m	29m	29m	28m	28m	27m	27m	27m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 27 September 2026, filed 4 November 2026: the filing.