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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) reported a strong fiscal first quarter 2022 with a 26% increase in net sales, totaling $277.4 million, compared to $220.5 million in the prior year. Adjusted EBITDA rose to $23.6 million, despite ongoing supply chain challenges. The company has raised its earnings outlook for FY 2022, anticipating net sales between $1.16 billion and $1.18 billion. Additionally, a $25 million share repurchase program has been authorized to capitalize on attractive stock prices.
Snap One Holdings Corp. (Nasdaq: SNPO) will hold a conference call on May 12, 2022, at 4:30 p.m. ET to discuss its fiscal Q1 financial results ending April 1, 2022. The company will issue a press release before the call, which will include a presentation followed by a Q&A session. Interested participants can join via U.S. dial-in at 844-467-8941 or internationally at 929-517-0912. A live broadcast of the call will be available on their website, with a replay accessible until May 19, 2022.
Snap One Holdings Corp. (NASDAQ: SNPO) reported record net sales exceeding $1 billion for fiscal 2021, marking a 24% increase year-over-year. The company achieved a net loss of $36.5 million and an adjusted EBITDA of $110.8 million, up 17% from the previous year. Significant operational highlights include the opening of eight new branches and strong demand for products. For fiscal 2022, Snap One anticipates net sales between $1.140 billion and $1.170 billion, reflecting a growth of 13% to 16% year-over-year. The company is confident in overcoming supply chain challenges while maintaining focus on long-term growth.
Snap One Holdings Corp. (NASDAQ: SNPO) will hold a conference call on March 22, 2022, at 4:30 p.m. ET to discuss financial results for the fiscal fourth quarter and full year ended December 31, 2021. A press release with the financial results will be issued prior to the call. The call will include a presentation followed by a Q&A session, and it will be broadcast live, with a replay available until March 29, 2022.
Snap One Holdings Corp. (NASDAQ: SNPO) announced its participation in several financial conferences and industry trade shows in spring 2022. These events include the Raymond James 2022 Institutional Investors Conference on March 7, Morgan Stanley Technology, Media & Telecom Conference on March 10, ISC West 2022 from March 22-25, and J.P. Morgan's 50th Annual Conference from May 23-25. Snap One is a leading provider of smart living products and services for professional integrators, with a focus on enhancing their business through high-quality products and support.
Snap One (NASDAQ: SNPO) has acquired Staub Electronics, enhancing its capabilities in Canada and expanding its local branch footprint to 33 locations. This acquisition aims to improve product offerings, enable faster order fulfillment, and elevate support for professional integrators. CEO John Heyman emphasized the long-standing partnership between the two companies and the anticipated improved customer experience. Staub will continue operating under its management team, while Snap One continues its growth through strategic acquisitions.
Snap One Holdings Corp. (NASDAQ: SNPO) will participate in several financial conferences before the end of 2021. Key events include the UBS Virtual Industrial Tech and Innovation Conference on November 17, the Raymond James Technology Investors Conference from December 6-8, and the Imperial Capital 18th Annual Security Investor Conference on December 14-15. Company representatives, including CEO John Heyman and CFO Mike Carlet, will present at these conferences, providing insights into Snap One's operations and future prospects.
Snap One has enhanced its Josh.ai voice control experience through a new Control4 Certified driver, offering improved integration with music streaming services and advanced lighting control. This update allows users to execute voice commands contextually, enhancing convenience and privacy. With the distribution agreement, Josh.ai hardware will also be available via the Control4 Portal. Both CEOs expressed excitement about the partnership, aiming to provide innovative voice control solutions tailored for smart homes.
Snap One Holdings Corp. (SNPO) reported strong fiscal third quarter results for 2021, with net sales increasing by 15% to $260.7 million, driven by enhanced operational efficiency and a successful product portfolio expansion. The company opened three new branches and upgraded software, fostering further growth. Despite facing supply chain challenges, Snap One raised its fiscal year net sales guidance to between $990 million and $1 billion.
Adjusted EBITDA expectations were also increased to between $106 million and $110 million, reflecting solid performance amid ongoing market demand.
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