Smart speaker and audio tech maker Sonos Inc. and internet-connected camera maker and Netgear Inc. spinoff Arlo Technologies Inc. have both issued price guidance for their initial public offerings.

They’re each scheduled for July 30 on the Nasdaq and New York Stock Exchange, respectively.

Sonos said in its U.S. Securities and Exchange Commission filing that it plans to raise $250 million by offering 13.9 million shares, with 60 percent being offered by insiders at a price range of $17 to $19. Nasdaq.com reported that at the midpoint of the proposed range, Sonos would command a fully diluted market value of $2.2 billion.

Arlo, which offers a lineup of home and business security cameras offering high-definition video quality, two-way audio, live streaming, free cloud recording, instant alerts and other features, priced its IPO at $18 to $20 a share, with 10.2 million shares on offer. At the midpoint, Arlo would raise $194 million on a $1.4 billion market cap.

Both hardware makers come into their public offerings with similar profits, though Sonos is about four times the size of Arlo.

In the six months ended March 31, Sonos saw revenue climb 18 percent year-over-year, to $655.7 million. Sonos’ profit declined by 14 percent in the same period, to $13.1 million. Arlo, meanwhile, recorded $370.7 million in sales for its most recent fiscal year with a pro forma profit of $6.5 million in 2017 based on its sales within Netgear.

Both companies have a track record of losses, however, with Sonos recording three straight losing years, while Arlo, as a division of Netgear, had a pro forma loss of $13.7 million in 2016.

In an age of tech companies listing having never made a profit and in some cases saying that they never expect to be profitable, two “internet of things” hardware makers with solid growth numbers and small profits are an attractive proposition.

Sonos and Arlo listing add to what has been a big year so far for IPOs, with more to come: Opera Ltd. is next in line with a scheduled Friday offering. Others are holding off longer. Pinterest was reported today to be looking at a mid-2019 IPO.

Image: Sonos