Sonos (SONO) came out with quarterly earnings of $0.64 per share, beating the Zacks Consensus Estimate of $0.36 per share. This compares to earnings of $0.84 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 77.78%. A quarter ago, it was expected that this maker of wireless speakers and home sound systems would post a loss of $0.22 per share when it actually produced a loss of $0.18, delivering a surprise of 18.18%.Over the last ...

Financial Performance - Q1 Fiscal 2025 revenue was $551 million, near the high end of guidance[5] - GAAP gross margin decreased to 43.8% from 46.1% year-over-year[15] - GAAP net income was $50.2 million, down from $80.9 million in the same quarter last year[10] - Non-GAAP net income was $79.2 million, with a diluted EPS of $0.64[5] - Operating income decreased to $48.09 million from $79.70 million year-over-year[10] - GAAP net income for Q4 2024 was $50,237, a decrease of 38% from $80,947 in Q4 2023[19] - Adjusted EBITDA for Q4 2024 was $91,173, down 20.9% from $115,242 in Q4 2023, resulting in an adjusted EBITDA margin of 16.6% compared to 18.8%[17] - Total revenue for Q4 2024 was $550,857, a decline of 10.1% from $612,869 in Q4 2023[20] - Non-GAAP net income for Q4 2024 was $79,237, down from $106,108 in Q4 2023[19] - Free cash flow for Q4 2024 was $143,067, down from $269,324 in Q4 2023[20] Restructuring and Workforce Changes - The company announced a reduction in force affecting approximately 12% of its employees, with estimated restructuring charges of $15 to $18 million[6] - The company initiated a restructuring plan affecting approximately 6% of its employees in August 2024, with costs primarily incurred in Q4 2024[18] Cash and Assets - Cash and cash equivalents increased to $279.96 million from $169.73 million quarter-over-quarter[14] - Total current assets rose to $612.53 million, compared to $551.09 million in the previous quarter[12] Revenue Breakdown - Revenue from Sonos speakers decreased to $467,142 in Q4 2024 from $503,011 in Q4 2023, while Sonos system products revenue fell to $60,274 from $84,562[20] - Revenue from the Americas region decreased to $324,583 in Q4 2024 from $392,439 in Q4 2023, while revenue from Europe, the Middle East, and Africa increased slightly to $197,612 from $191,817[20] Company Strategy and Focus - The company is focused on improving core customer experience and developing new products and innovations[2] - The company anticipates challenges in product demand forecasting and supply chain management, impacting future performance[24] - Sonos is recognized as a leading brand in sound experience, specializing in multi-room wireless home audio[26] - The company emphasizes innovation to enhance audio content accessibility and user control[26] - Sonos is headquartered in Santa Barbara, California, highlighting its operational base[26]

In Brief Sonos announced that it has laid off 200 people in a letter posted to its site Wednesday. The news follows a 100-person layoff in August. Both rounds arrive in the wake of a disastrously botched update to the Sonos app that alienated broad swaths of the premium audio hardware firm’s extremely loyal fanbase.The new letter is penned by Tom Conrad, who was the first CTO of Pandora and was named interim CEO after Patrick Spence stepped down from the chief executive role in January. Conrad states that t ...

NEW YORK, Feb. 4, 2025 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Sonos, Inc. ("Sonos" or the "Company") (NASDAQ: SONO). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.The investigation concerns whether Sonos and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. [Click here for information about joining the class action]On May 7, 2024, Sonos launched a red ...

NEW YORK, Jan. 21, 2025 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Sonos, Inc. ("Sonos" or the "Company") (NASDAQ: SONO). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.The investigation concerns whether Sonos and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. [Click here for information about joining the class action]On May 7, 2024, Sonos launched a re ...

This article has been reviewed according to Science X's editorial process and policies . Editors have highlighted the following attributes while ensuring the content's credibility: Credit: Unsplash/CC0 Public Domain Sonos Chief Executive Patrick Spence is stepping down and leaving the company's board in a shake-up that comes as the wireless speaker maker tries to win back the trust of its customers. Last year, the Santa Barbara-based company botched the overhaul of its phone app that customers use to con ...

A month has gone by since the last earnings report for Sonos (SONO) . Shares have added about 5.4% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Sonos due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. Sonos Q4 Loss Narrower Than ExpectedSonos reported fourth-quarter ...

Product and Market Expansion - As of September 28, 2024, Sonos had nearly 50.4 million products registered across approximately 16.3 million households globally, with 1.0 million new households added during fiscal 2024[12]. - Existing customers accounted for approximately 44% of new product registrations in fiscal 2024[12]. - The average number of Sonos products owned per household is 3.1, with 39% of households registering more than one product[12]. - In June 2024, Sonos launched its first-ever headphones, Ace, and the ultra-portable smart speaker, Roam 2[13]. - The company operates in over 60 countries, distributing products through various channels including traditional retailers and online platforms[22]. - Sonos has a broad partner ecosystem with over 100 streaming content providers, enhancing customer access to diverse audio content[20]. - The company aims to expand its partner ecosystem to enhance customer experience and attract more customers[26]. - The company continues to expand its product offerings and distribution channels, with products available in over 60 countries through various retail and e-commerce platforms[158]. Financial Performance - Total revenue for the year ended September 28, 2024, was $1,518,056, a decrease of 8.3% from $1,655,255 for the year ended September 30, 2023[150]. - Gross profit for the year ended September 28, 2024, was $689,373, down from $716,490 in the previous year, reflecting a gross margin of approximately 45.4%[150]. - Operating loss for the year ended September 28, 2024, was $(48,046), compared to an operating loss of $(20,547) for the year ended September 30, 2023[150]. - Net loss attributable to common stockholders for the year ended September 28, 2024, was $(38,146), compared to a net loss of $(10,274) in the previous year[150]. - Total current assets decreased to $551,086 as of September 28, 2024, from $659,631 as of September 30, 2023[147]. - Total liabilities increased slightly to $487,692 as of September 28, 2024, compared to $483,584 as of September 30, 2023[147]. - The company reported a total comprehensive loss of $(36,420) for the year ended September 28, 2024, compared to a comprehensive loss of $(10,121) in the previous year[150]. - Cash provided by operating activities increased significantly to $189.906 million from $100.406 million year-over-year, marking an increase of approximately 88.8%[156]. Research and Development - Sonos has made significant investments in research and development to enhance existing products and develop new technologies, focusing on software and hardware engineering[21]. - Research and development expenses for the year ended September 28, 2024, were $304,558, up from $301,001 in the previous year[150]. - Capitalized research and development expenses increased to $107,474 thousand in 2024 from $63,395 thousand in 2023, reflecting a significant investment in innovation[243]. - Research and development expenses primarily focus on developing new products and improving existing ones, with costs expensed as incurred due to the short development period[191]. Cash and Investments - As of September 28, 2024, the company had cash and cash equivalents of $169.7 million and marketable securities of $51.4 million[132]. - Cash and cash equivalents decreased to $169,732 as of September 28, 2024, from $220,231 as of September 30, 2023[147]. - The company invested $90.495 million in marketable securities during the year, with additional capital expenditures of $55.247 million for property and equipment[156]. - The company held no marketable securities as of September 30, 2023, but held U.S. Treasury securities valued at $51,426 thousand as of September 28, 2024[203]. Legal Matters - A jury trial in May 2023 awarded the company $32.5 million based on a royalty rate of $2.30 per infringing unit against Google[256]. - The ITC concluded its investigation in December 2023 with a final determination of no violation by the company regarding one of Google's patents[258]. - The company has ongoing legal proceedings against Google, with a Supreme Court petition deadline for Google set for December 2024[256]. - The company’s legal proceedings may have an adverse effect on its operations or financial position if outcomes are unfavorable[255]. Employee and Restructuring - The company initiated a restructuring plan on August 14, 2024, involving a reduction of approximately 6% of its employees, with total pre-tax restructuring costs of $11.3 million[260]. - Total restructuring and abandonment costs incurred were $11.853 million, with employee-related costs accounting for $7.371 million[261]. - The company recorded restructuring costs of $5.743 million in research and development, $2.770 million in sales and marketing, and $3.340 million in general and administrative expenses[262]. Revenue Recognition and Deferred Revenue - Deferred revenue related to unspecified software upgrades and cloud-based services was $81.5 million as of September 28, 2024[143]. - The company recognizes service revenue ratably over the estimated service period for unspecified software upgrades and cloud-based services, which are provided at no additional charge[185]. - Deferred revenue primarily relates to unspecified software upgrades and platform services, with amounts invoiced in advance recorded as deferred revenue on the balance sheet[189]. - The company’s revenue recognition policy includes deferring revenue for newly launched products sold to resellers until general availability is reached[183]. Stock and Equity - The Board of Directors authorized a common stock repurchase program of up to $200.0 million, with $128.9 million spent to repurchase 7,796,120 shares at an average price of $16.54 per share during the fiscal year ended September 28, 2024[232]. - The total stock-based compensation expense for the fiscal year ended September 28, 2024, was $84.3 million, an increase from $76.9 million in the previous fiscal year[239]. - The number of outstanding stock options decreased to 7,082,389 as of September 28, 2024, from 8,549,957 at September 30, 2023[235]. - The Company granted 9,437,212 RSUs during the fiscal year ended September 28, 2024, increasing the total outstanding RSUs to 10,763,098[236].

Sonos, Inc. (SONO) recently introduced the Era 100 pro, its first hardware solution specifically crafted for professional installation in light-commercial and residential spaces. Currently available for pre-order and set to ship on Jan. 28, 2025, the pioneer solution aims to elevate the audio experience in professional settings. Designed to simplify installation while maintaining Sonos' rich sound and elegant design, the Era 100 Pro is embedded with advanced features and software enhancements to empower pro ...

Sonos, Inc. (SONO) reported fourth-quarter fiscal 2024 non-GAAP loss per share of 18 cents. It had registered a loss per share of 7 cents in the prior-year quarter. On a GAAP basis, the company reported a loss of 44 cents compared with a loss of 25 cents in the year-ago quarter. The Zacks Consensus Estimate was pegged at a loss of 22 cents per share.Stay up-to-date with all quarterly releases: See Zacks Earnings CalendarQuarterly revenues fell 16.3% year over year to $255.4 million. The figure was well with ...