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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) has announced its participation in multiple financial conferences and trade shows over the coming months. Key events include: the Raymond James 44th Annual Institutional Investors Conference on March 6, 2023, the Morgan Stanley Technology, Media & Telecom Conference on March 8, 2023, the ISC West 2023 from March 29-31, 2023, and the J.P. Morgan 51st Annual Global Technology, Media and Communications Conference from May 22-24, 2023. These events will feature in-person presentations and meetings, aimed at enhancing investor relations and showcasing Snap One's offerings in smart living technology.
Snap One Holdings Corp. (NASDAQ: SNPO) reported a net sales increase of 7.9% year-over-year, totaling $281.2 million for Q3 2022. The company announced significant product launches at CEDIA Expo 2022 and completed the acquisition of Clare Controls, targeting growth in the home automation market. Despite a net loss of $1.0 million, down from $21.5 million a year ago, adjusted EBITDA was $31.9 million. For fiscal 2022, guidance was adjusted to a net sales range of $1.100 billion to $1.115 billion. Snap One emphasizes commitment to long-term growth amidst market uncertainties.
Snap One Holdings Corp. (Nasdaq: SNPO) will hold a conference call on November 9, 2022, at 4:30 p.m. Eastern time to discuss its financial results for Q3 2022, which ended on September 30, 2022. The financial results will be released before the call. Management will present the results, followed by a Q&A session. Interested participants can register online at least 10 minutes before the start. The conference call will also be available for live broadcast and replay through the company’s website.
Snap One Holdings Corp. (Nasdaq: SNPO) has acquired Parasol, a 24/7 remote support service that enhances opportunities for Snap One Partners to grow their businesses through recurring revenue. This acquisition follows a prior strategic investment in Parasol and aims to improve profitability and client experiences by reducing response times and increasing monthly service revenues. Parasol supports over 500 integration companies globally and integrates into Snap One's existing offerings, promising innovation and better service delivery for professional integrators.
Snap One Holdings Corp. (Nasdaq: SNPO) announced its participation in several upcoming financial conferences and industry trade shows. Key events include the Snap One Analyst and Investor Day in New York on September 14, 2022, and the CEDIA Expo in Dallas from September 29 to October 1, 2022. Additional conferences include the Raymond James Technology Investors Conference in December, with the company scheduled for multiple presentations and one-on-one meetings. Snap One aims to enhance visibility among investors and showcase its smart living products and services.
Snap One Holdings Corp. (Nasdaq: SNPO) will host its inaugural Analyst and Investor Day on September 14, 2022, at the Dream Downtown Hotel in New York City. The event will feature CEO John Heyman and CFO Mike Carlet, along with a panel discussion involving Snap One professional integrators. Attendees will have the chance to explore smart living environments through a curated showroom visit nearby. The event will be webcast live starting at 9:00 AM ET, with a replay available on the company's website.
Snap One Holdings Corp. (Nasdaq: SNPO) reported strong operating results for the second quarter of fiscal 2022, achieving net sales of $296.9 million, a 17.2% increase year-over-year. The company's contribution margin rose to $116.5 million (39.2% of net sales), while adjusted EBITDA increased by 8.1% to $31.7 million. Despite a net loss of $1.3 million, Snap One remains committed to growth and innovation, including the acquisition of Clare Controls. The company reaffirmed its fiscal 2022 guidance, expecting net sales between $1.16 billion and $1.18 billion.
Snap One Holdings Corp. (Nasdaq: SNPO) will hold a conference call on August 11, 2022, at 4:30 p.m. ET to discuss its financial results for the fiscal second quarter ended July 1, 2022. The financial results will be released prior to the call, which will include a presentation by Snap One management, followed by a Q&A session. Interested parties must register online at least 10 minutes before the call starts. More information can be found on Snap One's website.
Snap One Holdings Corp. (Nasdaq: SNPO) has appointed Tom Hendrickson as an independent director and Chair of the Audit & Risk Management Committee, effective May 23, 2022. With over 30 years of experience in high-growth consumer-focused companies, Hendrickson previously served as CFO at The Sports Authority and Sportmart. His leadership is expected to enhance Snap One's strategic growth and financial oversight amid rising demand for integrated technology solutions. The company aims to expand its industry leadership with its extensive product offerings and support services.
Snap One Holdings Corp. (Nasdaq: SNPO) announced its participation in several upcoming financial conferences and trade shows. Key events include the J.P. Morgan Global Technology Conference (May 23-25, 2022), William Blair 42nd Annual Growth Stock Conference (June 6-7, 2022), and UBS Global Industrials and Transportation Conference (June 7-8, 2022). Additionally, the company will showcase its products at InfoComm 2022 in Las Vegas from June 8-10, 2022. Snap One is known for providing smart living products and services to professional integrators, helping them deliver solutions to residential and commercial users.
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