Sonos Inc

SONO

Equity

ISIN US83570H1086 / Valor 37722921

NASDAQ (2024-11-22)

USD 13.49-0.07%

Sonos Inc
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About company

Sonos Inc. is a leading company in the home audio industry, specializing in the development and sale of wireless sound systems and smart speakers. Established with a vision to reinvent home audio for the digital age, Sonos has become synonymous with high-quality sound and innovative technology that seamlessly integrates music, podcasts, movies, shows, audiobooks, and radio into the home environment. The company boasts a broad portfolio of products that support over 50 streaming services, underpinned by a robust foundation of more than 2,000 patents, highlighting its commitment to innovation in the streaming and audio technology space. Sonos operates globally, with its products available in over 60 countries, demonstrating its international reach and appeal. Through its focus on creating a connected home experience, Sonos continues to play a pivotal role in shaping the future of home sound systems, catering to an audience that values superior sound quality and technological advancement.

Summarized from source with an LLMView SourceSector: Technology

Revenue Decline

Sonos Inc. reported a revenue decrease of 8.9% year-over-year to $612.9 million for the first quarter of fiscal 2024. On a constant-currency basis, the revenue decline was 10.5% year-over-year.

Gross Margin Improvement

Despite the revenue decline, Sonos Inc. saw an increase in gross margin by 374 basis points year-over-year, reaching 46.1% in the first quarter of fiscal 2024.

Net Income Growth

Sonos Inc. achieved a GAAP net income of $80.9 million in the first quarter of fiscal 2024, compared to $75.2 million in the same period last year. This resulted in a GAAP net income margin of 13.2%, up from 11.2% last year.

Adjusted EBITDA

For the first quarter of fiscal 2024, Sonos Inc. reported an Adjusted EBITDA of $115.2 million, which is a slight decrease from $123.9 million in the previous year. The Adjusted EBITDA margin was 18.8%, compared to 18.4% last year.

Cash Flow and Inventory

Sonos Inc. generated a free cash flow of $269.3 million in the first quarter of fiscal 2024. The company also reported a significant reduction in inventories, which decreased by 50% from the last quarter, with finished goods inventory down by 60%.

Summarized from source with an LLMView Source

Key figures

-5.27%1Y

-58.1%3Y

-10.8%5Y

Performance

39.7%1Y

49.9%3Y

55.2%5Y

Volatility