Sonos, Inc. - SONO STOCK NEWS

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.

TuneIn has announced an enhanced integration with the Sonos app, allowing users to easily access its extensive radio and podcast catalog through Sonos speakers. This upgrade features a new user interface and offers a 90-day free trial of TuneIn Premium for Sonos owners. Users will enjoy streamlined access to recent and favorited content, as well as Premium-only material, enhancing their audio experience. This partnership aims to combine TuneIn's quality streaming with Sonos' superior sound, making it easier for users to enjoy their favorite content.

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.