Core Viewpoint - Sonos (SONO) is expected to report a quarterly loss of $0.22 per share, reflecting a significant decline of 214.3% year-over-year, alongside anticipated revenues of $252.67 million, which represents a decrease of 17.2% compared to the previous year [1] Group 1: Earnings Estimates - Analysts have maintained the consensus EPS estimate for the quarter over the last 30 days, indicating a reevaluation of initial estimates by analysts covering the stock [1][2] - The correlation between earnings estimate revisions and short-term stock price performance is highlighted as a critical factor for investors [2] Group 2: Revenue Projections - Revenue from Sonos speakers is projected to be $171.83 million, indicating a decline of 23.1% from the year-ago quarter [4] - Revenue from partner products and other revenue is estimated at $19.86 million, showing a slight increase of 1.8% from the prior-year quarter [4] - Revenue from Sonos system products is expected to be $60.55 million, reflecting a decrease of 2.8% from the previous year [5] Group 3: Stock Performance - Over the past month, Sonos shares have increased by 13.5%, outperforming the Zacks S&P 500 composite, which rose by 4.9% [5] - Sonos currently holds a Zacks Rank 3 (Hold), suggesting that its performance may align with the overall market in the near future [5]

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]

For the quarter ended June 2024, Sonos (SONO) reported revenue of $397.15 million, up 6.4% over the same period last year. EPS came in at $0.23, compared to $0.16 in the year-ago quarter. The reported revenue represents a surprise of +0.97% over the Zacks Consensus Estimate of $393.32 million. With the consensus EPS estimate being $0.19, the EPS surprise was +21.05%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their n ...

Sonos (SONO) came out with quarterly earnings of $0.23 per share, beating the Zacks Consensus Estimate of $0.19 per share. This compares to earnings of $0.16 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 21.05%. A quarter ago, it was expected that this maker of wireless speakers and home sound systems would post a loss of $0.27 per share when it actually produced a loss of $0.34, delivering a surprise of -25.93%. Over the la ...

Sonos (SONO) unveiled its first headphone — the Sonos Ace — to expand its footprint in the personal audio market. The Sonos Ace will be available globally in Black and Soft White from Jun 5, 2024, and will retail for $449, added the company. The Sonos Ace is an over-the-ear Bluetooth headphone that features Active Noise Cancelation and Aware Mode, as well as a home theater experience enhanced by Sonos' new TrueCinema technology. The headphone features custom drivers that deliver precise and clear audio acro ...

Sonos, Inc. (SONO) reported second-quarter fiscal 2024 non-GAAP loss per share of 34 cents. It had registered earnings per share of 4 cents in the prior-year quarter. On a GAAP basis, the company reported a loss of 56 cents compared with a loss of 24 cents in the year-ago quarter. The Zacks Consensus Estimate was pegged at a loss of 27 cents.Quarterly revenues decreased 16.9% (down 17.3% on a constant-currency basis) year over year to $252.7 million due to a challenging macroeconomic environment. However, t ...