| --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------------------|-------|-------|-------|-------------------------|-------|-------------------| | | | | | | | Q4 and Fiscal Year 2024 | | | | | | Financial Results | | | | | | | | | | | | | | | | November 13, 2024 | Forward Looking Statements This presentation contains forward-looking statements that involve risks and uncertainties. These forward-looking statements include statements regarding our outlook for the fiscal quarter endi ...

For the quarter ended September 2024, Sonos (SONO) reported revenue of $255.38 million, down 16.3% over the same period last year. EPS came in at -$0.18, compared to -$0.07 in the year-ago quarter.The reported revenue represents a surprise of +2.22% over the Zacks Consensus Estimate of $249.83 million. With the consensus EPS estimate being -$0.22, the EPS surprise was +18.18%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determin ...

Sonos Ace headphones during a media preview in New York, US, on Wednesday, May 15, 2024. Sonos ... [+] Inc. is entering the headphone market with a $449 device, part of an effort to turn the home-speaker company into a broader maker of consumer technology. Photographer: Jeenah Moon/Bloomberg© 2024 Bloomberg Finance LPSonos is scheduled to report earnings after Wednesday’s close. In 2021, the stock hit a record high near $44.72/share and is currently trading near $14/share. The stock is prone to big moves af ...

Sonos, Inc. (SONO) is scheduled to report fourth-quarter fiscal 2024 results on Nov. 13.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.For the quarter, SONO anticipates revenues between $240 million and $260 million. The Zacks Consensus Estimate for revenues is pegged at $252.7 million, indicating a decrease of 17.2% from the year-ago reported number. The consensus estimate for the bottom line is pegged at a loss of 22 cents compared with a loss of 7 cents reported in the prior yea ...

The upcoming report from Sonos (SONO) is expected to reveal quarterly loss of $0.22 per share, indicating a decline of 214.3% compared to the year-ago period. Analysts forecast revenues of $252.67 million, representing a decrease of 17.2% year over year.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.Before a company announces its earnings, it ...

Sonos, Inc. (SONO) has made seven new commitments based on an internal review of its May app release, ensuring it continues to deliver the best wireless audio systems and that customers enjoy the quality for which the brand is known. Many of these efforts are already in progress, with additional measures set to be rolled out over the rest of the year. The company introduced an extensive redesign for its Sonos app to improve streaming in May 2024. However, the launch didn't go as planned, as some bugs were n ...

A month has gone by since the last earnings report for Sonos (SONO) . Shares have added about 1.4% in that time frame, underperforming 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 the most recent earnings report in order to get a better handle on the important catalysts. Sonos Q3 Earnings & Revenues Beat Estimates Sonos reported t ...

Sonos, Inc. (SONO) , in collaboration with Sporty & Rich, has launched Sonos Ace x Sporty & Rich Limited Edition headphones. These headphones are exclusively available for $449 on the Sporty & Rich website and at their NYC flagship location. During the peak of the tenniscore trend, major tennis tournaments have evolved into cultural events where celebrities and influencers showcase the latest fashion, a shift fully embraced by luxury brands. Emily Oberg, founder of Sporty & Rich, was seen incorporating Sono ...

- 11 11 I T I i P 1 1 I l 11 T I Lukasz Kochanek Amid plenty of pessimism this year, shares of Sonos (NASDAQ:SONO) have continued a relentless year-long tumble, and declines steepened after the premium audio company reported fiscal Q3 (June quarter) results. Q3 was supposed to feature the success of Sonos' new headphone product, Ace: but instead, the results were overshadowed by a guidance cut, prompted by severe glitches in the new and redesigned Sonos app. Year to date, shares of Sonos are now down nearly ...

Financial Data and Key Metrics Changes - Q3 revenues were $397 million, up 6% year-over-year, driven by the introduction of the Ace headphones [15] - Year-to-date revenue reached $1.2627 billion, down 6.5% year-over-year [15] - GAAP gross margin was 48.3%, up 230 basis points year-over-year, primarily due to improved inventory management [16] - Year-to-date gross margin increased to 46.4%, up from 43.6% in the previous year [16] - Free cash flow in Q3 was $40.3 million, bringing year-to-date free cash flow to $188 million compared to $38 million in the same period last year [17] Business Line Data and Key Metrics Changes - The launch of the Ace headphones marked a significant entry into the premium over-the-ear headphone market, which is a $5 billion addressable market growing by double digits annually [12] - Customer reviews for Ace were positive, with ratings of 4.6 out of 5 stars on sonos.com and 4.5 on Best Buy [12] Market Data and Key Metrics Changes - The company is navigating a cyclical downswing in existing categories while entering a growing market with the Ace headphones [12] - The premium headphone category is expected to provide diversification of revenue streams [12] Company Strategy and Development Direction - The company is focused on addressing issues with the new app, which has negatively impacted customer experience and sales [4][8] - A commitment to delivering at least two new products annually remains, although the launch of two major products has been delayed until app issues are resolved [8][19] - The company is investing $20 million to $30 million in fixing the app and supporting customers, which is expected to impact revenue and operating expenses [11][21] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that the app rollout has fallen short, impacting customer satisfaction and sales [4][40] - The company remains confident in its long-term potential within the $100 billion audio market, aiming to capture a larger share [25] - The focus is on regaining customer trust and ensuring future product launches are successful [25][40] Other Important Information - The company ended Q3 with $277 million in net cash, including $50 million in marketable securities [16] - Inventory levels were down 48% year-over-year, indicating effective inventory management [18] Q&A Session Summary Question: Status of the two delayed products - The two products were ready to ship in Q4, but the company prioritized addressing app issues first [23] Question: Long-term vision for the app and monetization - The company aims to capture more of the audio market and believes the app redesign is essential for future growth [25] Question: Impact of app issues on revenue reduction - The revenue reduction is primarily due to lower sales across the portfolio and the delay of new products [27] Question: Channel inventory status - Channel inventory is higher than desired, but this is accounted for in the Q4 guidance [28] Question: Potential reputational damage from app issues - The company is focused on addressing current pain points and believes future product launches will help regain customer trust [35] Question: Clarification on $20 million to $30 million costs - These costs are not included in the Q4 guidance and will primarily impact Q1 [38]