Sonos - SONO STOCK NEWS

Sonos, Inc. (Nasdaq: SONO) reported a 3% year-over-year revenue increase to $664.5 million for Q1 fiscal 2022. Gross margin improved by 140 basis points to 47.8%. GAAP net income was $123.5 million, down from $132.3 million last year, with GAAP diluted EPS at $0.87, compared to $1.01 previously. The company raised its fiscal 2022 revenue guidance to between $1.95 billion and $2.0 billion, indicating a growth of 14% to 16%. For fiscal 2024, Sonos targets around $2.5 billion in revenue, a 13% CAGR.

Sonos, Inc. (NASDAQ: SONO) will announce its financial results for Q1 2022 on February 9, 2022, after market close. The results will be accompanied by a press release and slide presentation available on their investor relations website. A conference call will also take place at 5:00 PM ET that day, which will include a Q&A session. Investors can join the call toll-free or access a live webcast. Sonos is known for pioneering multi-room wireless home audio, enhancing the listening experience with innovative sound solutions.

Sonos has announced two key appointments to its leadership team: Shamayne Braman as Chief Diversity Equity and Inclusion Officer and Rebecca Zavin as Senior Vice President, Software. CEO Patrick Spence emphasized the importance of diversity in product development and company culture. Braman, formerly with Target, is tasked with advancing DEI initiatives, while Zavin, previously at Palo Alto Networks, aims to scale the software organization to enhance innovation. These strategic hires aim to support Sonos’ growth and expand product offerings.

Sonos has authorized a new $150 million stock repurchase program, reflecting confidence in long-term growth and shareholder value. This follows a successful $100 million in buybacks completed since September 2019, including a $50 million program in Q4 FY 2021. Sonos aims to repurchase shares through various methods, funded by existing cash or future cash flow. The company remains committed to capital return while pursuing strategic opportunities, despite market uncertainties such as supply chain challenges and economic conditions.

Sonos, Inc. (Nasdaq: SONO) reported strong fiscal 2021 results with a 29% revenue increase to $1.717 billion and a record gross margin of 47.2%. The GAAP net income surged to $158.6 million compared to a loss of $20.1 million in FY20. Non-GAAP diluted EPS rose to $1.77 from $0.67 the previous year. For fiscal 2022, Sonos projects revenue between $1.925 billion and $2.0 billion, reflecting 12% to 16% growth. A new $150 million stock repurchase program was approved to enhance shareholder value, further indicating confidence in the company's business model.

Sonos, Inc. (NASDAQ: SONO) will report its financial results for Q4 and fiscal year ended October 2, 2021, after market close on November 17, 2021. A press release and presentation will be available at investors.sonos.com. The company will also host a conference call and Q&A at 5:00 p.m. Eastern Time on the same day to discuss the results, accessible via webcast.

Sonos (NASDAQ: SONO) announced an exciting fall programming line-up for Sonos Radio, featuring 20 new artist-curated stations and shows. Highlights include a station by Erykah Badu and a collaboration with Kareem Abdul-Jabbar. This expansion aims to enhance user engagement as listening hours nearly doubled last year. New sleep and holiday stations, as well as international programming, are set to create unique audio experiences for fans. Sonos Radio is free and accessible globally, while Sonos Radio HD offers ad-free, high-definition audio for $7.99/month after a free trial.

Sonos has unveiled the Beam (Gen 2), an upgraded compact soundbar available starting October 5 for $449. This model supports Dolby Atmos and offers enhanced sound quality, making it ideal for home theater experiences. Pre-orders are now available on Sonos.com. The new Beam will also feature Amazon Music's Ultra HD and Dolby Atmos Music later this year, enriching the listening experience with high-definition audio. This launch positions Sonos competitively in the home audio market.