Sonos, Inc. - SONO STOCK NEWS

Axon has appointed Brittany Bagley as the new Chief Financial Officer and Chief Business Officer, effective September 26, 2022, replacing Jim Zito. Bagley, formerly CFO at Sonos, brings 17 years of financial experience, including a background at KKR & Co. and Goldman Sachs. Axon’s CEO, Rick Smith, expressed confidence in her ability to guide the company’s finance organization during its growth phase. Bagley aims to leverage Axon’s rapid software growth to enhance profitability and shareholder value.

Sonos, Inc. (NASDAQ: SONO) announces the resignation of CFO Brittany Bagley effective September 1, 2022, to pursue another opportunity. Eddie Lazarus, the Chief Legal Officer, will take over as interim CFO. Bagley has significantly contributed to Sonos' growth, market expansion, and shareholder value during her tenure. Lazarus brings extensive experience in financial management and strategic planning. Sonos will also discuss its third-quarter financial results in a conference call today at 5:00 p.m. Eastern Time.

Sonos, Inc. (Nasdaq: SONO) reported its third-quarter fiscal 2022 results, revealing a 1.8% year-over-year revenue decline to $371.8 million, though revenue rose 2.2% in constant currency. Net loss was $0.6 million, reversing from a profit of $17.8 million in the prior year. Non-GAAP net income fell to $25.6 million from $38.7 million. Adjusted EBITDA decreased to $42.1 million with a margin of 11.3%. Revised fiscal 2022 revenue guidance is now $1.730 to $1.755 billion, down from $1.95 to $2.0 billion.

Sonos, Inc. (NASDAQ: SONO) will report its financial results for Q3 ended July 2, 2022, after market close on August 10, 2022. The earnings release and slide presentation will be available on their investor relations page. A conference call will follow at 5:00 PM ET, allowing for a Q&A session. Investors can listen live via webcast or dial in toll-free at 888-330-2454 (internationally at 240-789-2714) using conference ID 8641747. Sonos is known for its innovative multi-room wireless audio systems, enhancing sound experiences globally.

Sonos, Inc. (Nasdaq: SONO) announced the participation of Chief Financial Officer Brittany Bagley in two upcoming investor conferences. The events include the Jefferies Software Conference on June 2, 2022, and the BofA Securities 2022 Global Technology Conference on June 8, 2022. A live webcast of both conferences will be available on Sonos’ investor relations website. Sonos is recognized as a leading brand in multi-room wireless home audio, committed to delivering exceptional sound experiences and user-friendly technology.

The Editorial Advisory and Securities Review Committee of BetterInvesting Magazine has selected Sonos Inc. (NASDAQ: SONO) as the "Stock to Study" and United Rentals Inc. (NYSE: URI) as the "Undervalued Stock" for the August 2022 issue. This decision comes amid recent share-price declines in the market. Ken Zendel, CEO of the National Association of Investors, emphasized the importance of reviewing investment strategies to avoid common mistakes. Investors can utilize BetterInvesting’s online tools to assess these stocks further.

Sonos (Nasdaq: SONO) announced the launch of its new compact soundbar, Sonos Ray, available globally on June 7, 2022 for $279. Ray features advanced acoustic technology for impressive sound, including custom waveguides and a bass reflex system. Additionally, the popular smart speaker, Sonos Roam, now comes in three new colors—Olive, Wave, and Sunset—retailing for $179 each. These updates aim to enhance user experiences in home theaters and outdoor settings, further solidifying Sonos' position in the audio industry.

Sonos has launched a new curated station on Sonos Radio, called SOLARSYSTYM, featuring music selections by award-winning artist Lorde. This station offers an insight into Lorde's musical influences from her teenage years to present. Fans can also participate in weekly giveaways for a sustainably-designed Roam carry bag. Sonos Radio provides a wide array of radio content and exclusive stations, enhancing the listening experience for users worldwide. The station and the giveaways are available globally.

Sonos, Inc. reported a 20.1% year-over-year increase in revenue for Q2 2022, totaling $399.8 million, with a constant-currency increase of 22.8%. However, gross margins fell by 500 basis points to 44.8%, leading to a GAAP net income decline to $8.6 million from $17.2 million the previous year. The non-GAAP net income also decreased to $35.8 million from $44.6 million. The company maintained its fiscal 2022 revenue outlook of $1.95 billion to $2.0 billion, but adjusted guidance showed a reduction in expected gross margins to 45.5% to 46.0%.