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Snap One Holdings Corp. (Nasdaq: SNPO) is a pioneering company established in 2005 and headquartered in Charlotte, North Carolina. Specializing in the manufacturing and exclusive distribution of audio/visual, security, control, networking, and remote management products, Snap One serves professional integrators worldwide. The company has solidified itself as a leader in the professional installation market, offering a diverse array of high-quality products through an intuitive e-commerce platform and supported by an award-winning service team.
Snap One's expansive product portfolio includes both proprietary and third-party offerings across connected, infrastructure, and entertainment categories. This comprehensive range enables integrators to deliver smart living experiences to residential and commercial clients. Notably, the company has 28 Pro stores across the United States, combining the benefits of e-commerce with the convenience of local store access for integrators.
The company's commitment to innovation and quality has been demonstrated through recent products and go-to-market strategies, driving higher partner adoption rates. In the fiscal second quarter of 2023, Snap One reported net sales between $1.06 billion and $1.09 billion and adjusted EBITDA between $110 million and $118 million. Despite economic uncertainties and inventory destocking by channel partners, Snap One remains confident in its ability to achieve long-term growth targets.
Snap One's recent operational success has been highlighted by the introduction of new products and supply chain efficiencies, which have contributed to improved profitability. The company’s fiscal outlook for 2024 projects net sales between $1.06 billion and $1.13 billion, with adjusted EBITDA ranging from $120 million to $128 million.
In a significant development, Snap One has announced an agreement to be acquired by Resideo Technologies, Inc. (NYSE: REZI) for $10.75 per share in cash, valuing the transaction at approximately $1.4 billion. This merger is expected to close in the second half of 2024, subject to regulatory approvals. The acquisition aims to combine Snap One's smart living solutions with Resideo’s strong position in security products distribution, enhancing value for integrators and driving financial returns.
For more detailed and updated information about Snap One, visit the Investor Relations section on their official website.
Snap One Holdings Corp. (Nasdaq: SNPO), a key player in smart living products and services, has announced a conference call scheduled for May 9, 2023, at 4:30 p.m. ET to disclose its financial results for the first fiscal quarter ending March 31, 2023. The financial results will precede the call, which will include a presentation followed by a Q&A session with management. The event aims to provide insights into the Company's performance and future outlook.
Snap One specializes in supplying professional integrators with a comprehensive range of smart living technology solutions that include entertainment, automation, and security products. Interested parties can register for the call online and access the live broadcast and replay through the Investor Relations section of the Snap One website.
Snap One Holdings Corp. (SNPO) reported full year 2022 net sales of $1.124 billion, an 11.5% year-over-year increase. The company faced a net loss of $8.7 million, significantly reduced from the previous year, and achieved an adjusted EBITDA of $114.1 million, up 3.0% year-over-year. Despite a 1.9% decline in fourth-quarter net sales, excluding an extra week in 2021, sales increased by 5.0%. The company has taken a cautious outlook for fiscal 2023, forecasting net sales between $1.05 billion and $1.09 billion, reflecting a potential 3.0% to 6.6% decrease.
Snap One Holdings Corp. (Nasdaq: SNPO) announced a conference call scheduled for March 14, 2023, at 4:30 p.m. Eastern time to discuss its financial results for the fourth quarter and full year ended December 30, 2022. Prior to the call, financial results will be released via a press release. The event will include a presentation by Snap One management followed by a Q&A session. Participants are encouraged to register at least 10 minutes before the start. The call will be available live and for replay through the Investor Relations section of Snap One's website.
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