Sonos, Inc. - SONO STOCK NEWS

Sonos, Inc. (Nasdaq: SONO) will announce its financial results for the second quarter ended April 1, 2023, after market close on May 10, 2023. A press release and slide presentation will be available on their investor relations website. Following the results, Sonos will hold a conference call at 5:00 p.m. Eastern Time the same day, which will be accessible via webcast. Investors can dial in toll-free at 1 (888) 330-2454 or 1 (240) 789-2714 for international participants, using conference ID 8641747. Sonos is recognized for its innovation in multi-room wireless home audio, providing superior sound experiences through an open platform, and is headquartered in Santa Barbara, California.

Sonos has launched Sonos Pro, a new software as a service (SaaS) offering designed for businesses to enhance sound delivery across multiple locations. This subscription-based service features a web-based dashboard for remote management, commercially-licensed music, and personalized support, integrating seamlessly with existing Sonos hardware. Priced at $35 per month per location, Sonos Pro aims to streamline audio solutions for businesses, leveraging music to create engaging customer experiences. The offering is initially available in the United States, with plans to expand to additional markets. Sonos CEO Patrick Spence highlighted significant growth in commercial spaces, indicating a growing demand for effective sound solutions in retail and hospitality environments.

Sonos (Nasdaq: SONO) announced its support for spatial audio on Apple Music, effective March 28, 2023. This move enhances the listening experience for customers using Sonos Era 300, Arc, and Beam (Gen 2) devices, allowing them to enjoy a multi-dimensional sound experience that is increasingly popular among artists and producers. Grammy Award-winning producer, Giles Martin, emphasized the innovation in sound that Sonos brings to listeners through this partnership, ensuring access to transformative audio experiences with Dolby Atmos technology.

Sonos (Nasdaq: SONO) has launched the Era 300 and Era 100, its latest smart speakers, enhancing sound innovation with a focus on spatial audio. The Era 300, priced at $449 USD, uses Dolby Atmos for immersive audio, featuring six drivers for surround sound. Era 100, costing $249 USD, offers upgraded stereo sound and energy-efficient design. Both speakers are designed for sustainability, using recycled materials and achieving low power consumption. They will be available worldwide from March 28, 2023. Sonos emphasizes connectivity, customization, and responsible design in these releases.

Sonos, Inc. (NASDAQ: SONO) will have its CEO Patrick Spence and CFO Eddie Lazarus participate in the Morgan Stanley Technology, Media & Telecom Conference on March 7 at 2:05 PM Pacific. The event will include a fireside chat, and a live webcast along with a replay will be available on the Sonos investor relations website. This participation continues to highlight Sonos' commitment to engage with investors and discuss its innovative audio solutions. The company is recognized as a leader in sound experience and multi-room wireless home audio technology.

Sonos, Inc. (NASDAQ: SONO) reported a record Q1 revenue of $672.6 million, a 1.2% increase year-over-year and a 7.0% rise on a constant-currency basis. However, gross margin fell by 540 basis points to 42.4%, and GAAP net income declined to $75.2 million from $123.5 million last year. The company maintains its Fiscal 2023 revenue outlook of $1.7 billion to $1.8 billion, reflecting a potential decline of 3% to growth of 3% from 2022. Despite macroeconomic challenges, CEO Patrick Spence expressed strong confidence in Sonos's long-term potential and upcoming product launches.