Welcome to our dedicated page for Sonos news (Ticker: SONO), a resource for investors and traders seeking the latest updates and insights on Sonos stock.
Sonos, Inc. (NASDAQ: SONO) is a leading innovator in home audio systems, revolutionizing the way people listen to music since its inception in 2002. The company's vision is to fill every home with music and make the listening experience truly valuable. Sonos offers a comprehensive range of products, including speaker sets, mounts, stands, cables, and networking accessories, ensuring high-quality sound in every room.
Operating in more than 60 countries and available in seven languages, Sonos has a global footprint with significant market presence in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The majority of its revenue is generated from the Americas. The company's products are available through thousands of retailers worldwide, making it easy for customers to access and enjoy high-fidelity audio.
Sonos continually invests in research and development to innovate and enhance the user experience. Recent achievements include the introduction of new hardware and software solutions designed to improve sound quality and user interface. These advancements enable users to discover new music and enjoy their favorite songs with superior audio performance.
With a commitment to excellence, Sonos partners with other technology and music industry leaders to bring cutting-edge features and integrations to its products. This dedication to quality and innovation has cemented Sonos's reputation as a pioneer in the home audio market.
For investors, Sonos presents a compelling opportunity to invest in a company that not only has a robust product lineup but also a clear vision for the future of home audio technology.
Sonos (NASDAQ: SONO) has announced a new $150 million stock repurchase program, replacing their previous $200 million program which had $11 million remaining. The new program allows Sonos to purchase common stock through various means, including open market repurchases, privately negotiated transactions, and Rule 10b5-1 trading plans.
The repurchase program has no time limit and will be funded through existing cash, cash equivalents, or future cash flow. The timing and volume of share repurchases will depend on factors including stock price, trading volume, and market conditions. The company maintains discretion to modify, suspend, or discontinue the program at any time.
Sonos (NASDAQ: SONO) has announced that Interim CEO Tom Conrad and CFO Saori Casey will participate in a fireside chat at the Morgan Stanley Technology, Media & Telecom Conference. The discussion, moderated by Morgan Stanley analyst Erik Woodring, is scheduled for Monday, March 3, at 4:50 pm Pacific time.
Investors and interested parties can access both the live webcast and replay of the fireside chat through the News & Events section of Sonos' investor relations website.
Sonos (SONO) reported Q1 fiscal 2025 results with revenue of $551 million, near the high-end of guidance. The company achieved GAAP gross margin of 43.8% and GAAP net income of $50.2 million ($0.40 per share). Non-GAAP net income was $79.2 million ($0.64 per share), with Adjusted EBITDA of $91.2 million.
The company announced a significant reorganization, including a reduction in force affecting approximately 12% of employees. This restructuring is expected to result in charges of $15-18 million, primarily related to severance and benefits costs, to be incurred in Q2 fiscal 2025.
Revenue breakdown shows Sonos speakers generated $467.1 million, system products $60.3 million, and partner products $23.4 million. Geographically, Americas contributed $324.6 million, EMEA $197.6 million, and Asia Pacific $28.7 million.
Sonos (NASDAQ: SONO) has announced it will release its first quarter fiscal 2025 financial results on Thursday, February 6, 2025, after market close. The results will cover the period ended December 28, 2024.
The company will provide a press release and slide presentation, which will be available on their investor relations website. A conference call and Q&A session is scheduled for 4:15 p.m. Eastern Time on the same day.
Investors can access the live webcast through the company's investor website. For those preferring phone access, U.S. participants can dial toll-free at 1-888-330-2454, while international participants can call 1-240-789-2714 (conference ID: 8641747). A replay and transcript will be available after the call.
Sonos (NASDAQ: SONO) announced a significant leadership change as CEO Patrick Spence steps down from his position and Board membership, effective immediately. The Board has appointed Tom Conrad, an independent Board member since 2017, as Interim CEO while initiating a search for a permanent replacement with the help of an executive search firm.
The company emphasized that this leadership transition is unrelated to their upcoming fiscal first quarter results, scheduled for February 6, 2025. During his tenure, Spence expanded Sonos's presence in wireless home audio, home theater, portables, and headphones. Conrad, who has previous experience with Sonos through early Pandora integration initiatives, will focus on improving the core customer experience and optimizing business operations to drive innovation and financial performance.
Sonos (NASDAQ: SONO) released its 2024 Listen Better Report, highlighting environmental and social governance progress. The company introduced new products with sustainability features, including Sonos Ace headphones with recycled materials and Arc Ultra speakers with improved energy efficiency. The report details progress on their Climate Action Plan, showing a 6% decrease in total emissions compared to the previous year. Sonos strengthened its commitment to responsible business practices by integrating RBA Code of Conduct into its Supplier Code and supported diversity initiatives, including scholarships for women in sound engineering.
Sonos (SONO) has announced the Era 100 Pro, its first professional installation solution for light-commercial and residential spaces, available for pre-order with shipping starting January 28, 2025. The product features Power over Ethernet (PoE+) for simplified setup, a pro-grade surface mount for versatile orientation, and a new software feature called 'zones' for managing larger installations. Era 100 Pro will be sold exclusively in pairs through select Sonos partners and marks the company's hardware debut in the $2B light commercial audio market, following their SaaS product Sonos Pro.
Sonos (SONO) reported fiscal 2024 results with revenue of $1.52 billion and a GAAP net loss of $38.1 million. Fourth quarter revenue was $255.4 million with a net loss of $53.1 million. The company's GAAP gross margin for the fiscal year was 45.4%. Despite headwinds in the audio category, Sonos launched new products including Arc Ultra and Sub 4 for the holiday season, following software improvements. The company noted an increase in new products per home in Fiscal 2024, though facing overall audio category challenges.
Sonos has scheduled its fourth quarter and fiscal 2024 financial results announcement for November 13, 2024, after market close. The company will release financial results for the period ended September 28, 2024, accompanied by a slide presentation. A conference call and Q&A session will be held at 5:00 p.m. Eastern Time, accessible via webcast or phone. The webcast replay and transcript will be available after the call through the investor relations website.
Sonos (SONO) has unveiled Arc Ultra, a new premium soundbar featuring revolutionary Sound Motion™ transducer technology. This innovation significantly reduces transducer size while enhancing bass performance, delivering up to double the bass of its predecessor with a 9.1.4 spatial audio experience. Alongside Arc Ultra, Sonos introduced Sub 4, an updated subwoofer with improved design and internals.
The company also announced substantial improvements to its app, addressing performance issues and reintroducing 90% of missing features. Arc Ultra, priced at $999, and Sub 4, at $799, will be available from October 29, 2024. Both products feature enhanced sustainability efforts, including improved serviceability and reduced power consumption.
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