Sonos, Inc. - SONO STOCK NEWS

Sonos (NASDAQ: SONO) will announce its first-quarter financial results for the period ending December 31, 2022, on February 8, 2023. A press release and slide presentation will accompany the report, accessible via their investor relations webpage. Following the announcement, a conference call will take place at 5:00 PM ET, offering a Q&A session for participants. Investors can join the call toll-free or access the webcast live and on-demand later. Sonos is recognized for its innovative wireless audio solutions and is headquartered in Santa Barbara, California.

Victrola, a historic audio brand, announces the launch of the Victrola Stream Onyx turntable, set for pre-order on Amazon starting January 7, 2023, at a price of $599. This advanced turntable features a modern design and improved materials, allowing seamless integration with the Sonos system. It enhances the listening experience by offering wireless connectivity and a user-friendly app for quick setup. The product will be widely available by late February 2023, expanding Victrola's offerings in the smart audio market.

Sonos (Nasdaq: SONO) has launched Sonos Voice Control for French users, enabling hands-free music control with a focus on privacy. Following its US debut on June 1st, this voice feature ensures that requests are processed locally, with no audio sent to the cloud. The update has already led to a 30% increase in music listening among its US users. This rollout is part of Sonos' commitment to enhancing user experience while safeguarding privacy, targeting broader audiences in France and beyond.

Sonos, Inc. (NASDAQ: SONO) has approved a new stock repurchase program of up to $100 million, aimed at enhancing shareholder value. This follows the completion of $250 million in stock repurchases since September 2019, including a $150 million program finalized in Q4 of fiscal 2022, where approximately 6.6 million shares were repurchased at an average price of $22.80 per share. The buyback may occur through various methods and will be funded by existing cash or future cash flows.

Sonos remains cautious due to potential market conditions and challenges.

Sonos, Inc. (NASDAQ: SONO) reported its fiscal 2022 results, highlighting a revenue increase of 2.1% year-over-year to $1.75 billion, with a gross margin decline of 180 basis points to 45.4%. GAAP net income fell to $67.4 million, with diluted EPS at $0.49. In Q4, revenue dropped 12% to $316.3 million and posted a GAAP net loss of $64.1 million. The company anticipates fiscal 2023 revenue between $1.7 billion and $1.8 billion, reflecting a potential decline of 3% to growth of 3%. Additionally, Eddie Lazarus was appointed CFO, succeeding in streamlining financial operations.

Sonos, Inc. (Nasdaq: SONO) will announce its fourth-quarter and fiscal year financial results on November 16, 2022, after market close. The earnings report will detail results for the period ending October 1, 2022. A press release and slide presentation will be available on the company's investor relations site. Following the announcement, Sonos will host a conference call at 5:00 p.m. Eastern Time to discuss the results, with live and replay access provided on their website.

Sonos (Nasdaq: SONO) has launched the Seasonal Audio Noise Tracking Aggregator (S.A.N.T.A.) Index, an innovative algorithm designed to identify the official start of the holiday season by measuring 'Jingle Waves' across 23 countries. This initiative will analyze user searches and plays of popular holiday songs and movies on the Sonos app, generating a daily score from 0-100. Once a score of 50 is reached, it will signal the start of the holiday season. To celebrate, Sonos will offer product giveaways and unlock new holiday-themed content on Sonos Radio.

Sonos has announced the launch of the Sonos Sub Mini, a new wireless subwoofer designed to deliver powerful bass in smaller rooms. Starting on October 6, the Sub Mini will be available globally for $429. This compact subwoofer features dual custom woofers and advanced processing that eliminate distortion, providing balanced sound alongside other Sonos speakers. The product enhances home theater experiences for movies, music, and gaming with an easy setup process via the Sonos app.