Sonos - SONO STOCK NEWS

Sonos reported a record Q1 2021 with GAAP net income increasing by 87% to $132.3 million. Non-GAAP net income rose to $153.2 million, while GAAP diluted EPS jumped to $1.01 from $0.60 and non-GAAP EPS reached $1.17 from $0.74. Revenue grew 15% year-over-year to $645.6 million. Adjusted EBITDA surged 78% to $166.3 million, with a margin increase to 25.8%. The company raised its fiscal 2021 outlook for revenue to $1.525 billion - $1.575 billion, indicating strong momentum.

Sonos, Inc. (Nasdaq: SONO) will report its financial results for Q1 ended January 2, 2021, after market close on February 10, 2021. A press release and slide presentation will follow, available at this link. The company will host a conference call and Q&A at 5:00 p.m. ET on the same day, accessible via this page. Participants can join the call by dialing (833) 921-1637 in the U.S. or (236) 714-2128 internationally.

Sonos (Nasdaq: SONO) expands its streaming service with new artist stations and original programming on Sonos Radio and Sonos Radio HD. The lineup features personal stations from artists like D’Angelo, FKA twigs, and Björk, alongside genre-specific content from industry veteran Corey Smyth. The ad-free Sonos Sound System will introduce shows such as Object of Sound, hosted by Hanif Abdurraqib. This initiative aims to enhance music discovery through curated playlists and personal insights from creators, solidifying Sonos' position as a leading streaming service.

Sonos (Nasdaq: SONO) and Legrand have entered a multi-year licensing agreement covering Legrand's NUVO multi-room wireless audio products. This deal allows Legrand to license Sonos’ patents, marking a significant recognition of Sonos' intellectual property value. Chief Legal Officer Eddie Lazarus emphasizes that this collaboration demonstrates a fair marketplace where innovation is acknowledged and compensated appropriately. Sonos, a leader in multi-room wireless home audio, continues to enhance user experiences through its technology.

Sonos, Inc. (Nasdaq: SONO) announced the retirement of board members Robert Bach and John Maeda, effective December 3, 2020. Both members contributed significantly to the company over their tenures. Sonos also welcomed three new board members: Panos Panay (Microsoft), Deirdre Findlay (Conde Nast), and Joanna Coles (Hearst Magazines), expanding the board to eight members. CEO Patrick Spence acknowledged the valuable insights of the retiring members while expressing enthusiasm for the new additions' expertise in guiding future growth.

Sonos, Inc. (Nasdaq: SONO) has authorized a new share repurchase program of up to $50 million. This decision reflects the company's confidence in its business model and commitment to long-term shareholder value. Previously, Sonos completed a $50 million buyback program, purchasing 3.8 million shares. The new program allows repurchases through various methods, with no set timeline. Funding will come from existing cash or future cash flow.

Sonos, Inc. (SONO) reported strong financial results for Q4 and fiscal 2020, achieving a GAAP net income of $18.4 million compared to a net loss of $29.6 million last year. The non-GAAP net income rose to $40.7 million from a loss of $16.6 million. Revenue surged 16% year-over-year to $339.8 million, with direct-to-consumer sales increasing by 67%. For fiscal 2021, Sonos forecasted revenue between $1.44 billion and $1.5 billion, reflecting an 11% to 15% growth. The company expects adjusted EBITDA margins of 12% to 14%, which exceeds prior targets.

Sonos, Inc. (Nasdaq: SONO) will report its financial results for the fourth quarter and fiscal year ended October 3, 2020, after market close on November 18, 2020. A press release and slide presentation will be available on their investor relations page. The company will also host a conference call and Q&A session at 5:00 p.m. Eastern Time on the same day to discuss the results. Interested parties can access the call toll-free by dialing (833) 921-1637 or via the provided links for the live webcast and subsequent replay.

AAMP Global, a leader in vehicle aftermarket technology, has appointed Matthew Siegel to its Board of Directors. Siegel, who serves as the Chief Commercial Officer at Sonos (SONO), brings extensive experience in digital marketing. His past roles include Vice President of Global Digital Commerce at Nike and Executive Vice President of eCommerce at ANN, Inc. AAMP expects his expertise to enhance its digital strategy and omni-channel growth as the company expands its vehicle technology solutions.