Sonos, Inc. - SONO STOCK NEWS

Sonos, Inc. (NASDAQ: SONO) will release its second-quarter financial results after market close on May 11, 2022, covering the period ended April 2, 2022. The earnings report will be accompanied by a slide presentation available on their investor relations website. A conference call and Q&A session will occur at 5:00 p.m. Eastern Time on the same day to discuss the results. Interested parties can access the call live or via toll-free number. Sonos is recognized for its innovation in multi-room wireless audio systems.

Sonos, Inc. (NASDAQ: SONO) announced its acquisition of Mayht Holding BV for approximately $100 million in cash. Mayht has developed innovative audio transducer technology enabling smaller, lighter speakers without sacrificing sound quality. This acquisition is expected to enhance Sonos' product portfolio, offering a competitive advantage by integrating Mayht’s technology and intellectual property. The acquisition's financial details will be disclosed during Sonos’ Q2 earnings call in May. CEO Patrick Spence emphasized its potential to revolutionize the audio experience.

Sonos, Inc. (NASDAQ: SONO) will have its CEO Patrick Spence and CFO Brittany Bagley participate in the Morgan Stanley Technology, Media and Telecom conference on March 9, 2023, at 1:15 p.m. Pacific Time. The discussion will be available via live webcast on the Sonos investor relations website. Known for its multi-room wireless home audio innovations, Sonos is dedicated to delivering exceptional sound experiences. For further details, visit their official site or the investor section.

Sonos, Inc. (Nasdaq: SONO) reported a 3% year-over-year revenue increase to $664.5 million for Q1 fiscal 2022. Gross margin improved by 140 basis points to 47.8%. GAAP net income was $123.5 million, down from $132.3 million last year, with GAAP diluted EPS at $0.87, compared to $1.01 previously. The company raised its fiscal 2022 revenue guidance to between $1.95 billion and $2.0 billion, indicating a growth of 14% to 16%. For fiscal 2024, Sonos targets around $2.5 billion in revenue, a 13% CAGR.

Sonos, Inc. (NASDAQ: SONO) will announce its financial results for Q1 2022 on February 9, 2022, after market close. The results will be accompanied by a press release and slide presentation available on their investor relations website. A conference call will also take place at 5:00 PM ET that day, which will include a Q&A session. Investors can join the call toll-free or access a live webcast. Sonos is known for pioneering multi-room wireless home audio, enhancing the listening experience with innovative sound solutions.

Sonos has announced two key appointments to its leadership team: Shamayne Braman as Chief Diversity Equity and Inclusion Officer and Rebecca Zavin as Senior Vice President, Software. CEO Patrick Spence emphasized the importance of diversity in product development and company culture. Braman, formerly with Target, is tasked with advancing DEI initiatives, while Zavin, previously at Palo Alto Networks, aims to scale the software organization to enhance innovation. These strategic hires aim to support Sonos’ growth and expand product offerings.

Sonos has authorized a new $150 million stock repurchase program, reflecting confidence in long-term growth and shareholder value. This follows a successful $100 million in buybacks completed since September 2019, including a $50 million program in Q4 FY 2021. Sonos aims to repurchase shares through various methods, funded by existing cash or future cash flow. The company remains committed to capital return while pursuing strategic opportunities, despite market uncertainties such as supply chain challenges and economic conditions.

Sonos, Inc. (Nasdaq: SONO) reported strong fiscal 2021 results with a 29% revenue increase to $1.717 billion and a record gross margin of 47.2%. The GAAP net income surged to $158.6 million compared to a loss of $20.1 million in FY20. Non-GAAP diluted EPS rose to $1.77 from $0.67 the previous year. For fiscal 2022, Sonos projects revenue between $1.925 billion and $2.0 billion, reflecting 12% to 16% growth. A new $150 million stock repurchase program was approved to enhance shareholder value, further indicating confidence in the company's business model.