Sonos, Inc. - SONO STOCK NEWS

Salesforce, a leader in CRM, announced that Sonos, a top sound experience company, is enhancing its digital shopping and customer engagement through Salesforce's platforms. Amid the pandemic, Sonos rapidly pivoted to a direct-to-consumer model, achieving an 84% year-over-year growth in this area. Key advancements include improved customer service using Service Cloud, a connected e-commerce platform via Commerce Cloud, and personalized communications through Marketing Cloud. These initiatives are part of Sonos' strategy to adapt to changing consumer behaviors and enhance customer experiences.

Sonos (Nasdaq: SONO) celebrates the first anniversary of Sonos Radio with new programming and exclusive content. Sonos Radio HD introduces unique artist stations such as Ghostface Killah’s Blue & Cream and M.I.A.’s OHMNI FM, along with new genre stations launching throughout May and June. Listeners can access shows featuring Canadian music and live events like Live from Van Gelder Studio. Sonos Radio remains free for all customers, while Sonos Radio HD is available for $7.99/month after a free trial. The enhanced service focuses on high-definition audio experiences.

Sonos, Inc. (NASDAQ: SONO) hosted a virtual investor event on fiscal year 2024 updates, forecasting a revenue of $2.25 billion, up 13% CAGR, surpassing previous targets. The company highlighted its strong market presence, with 11 million homes using its products, and its potential to expand further in the $89 billion global audio market. Sonos introduced the Sonos Roam™ speaker, priced at $169, enhancing its product offerings. The company aims for gross margins of 45-47% and adjusted EBITDA margins of 15-18%, focusing on brand expansion, product diversification, and operational excellence.

Sonos (Nasdaq: SONO) launched the Sonos Roam, an ultra-portable smart speaker that seamlessly switches between WiFi and Bluetooth, enhancing the listening experience on the go. Priced at $169, Roam is set to be available from April 20, allowing customers to pre-order now. The speaker offers rich sound, automatic tuning, and features like Sound Swap, enabling easy music transition between devices. It is durable, waterproof, and has up to 10 hours of playback on a single charge. Sonos aims to attract new customers with Roam, positioned as its most affordable and versatile speaker yet.

Sonos announced a virtual investor event scheduled for March 9, 2021, from 4:00 PM to 6:00 PM ET. During this event, the Sonos team will outline the company’s strategic priorities and financial outlook, followed by a Q&A session. The event will be available for live streaming and will also be archived on the Investor Relations section of Sonos' website. Sonos, known for its innovative multi-room audio solutions, continues to lead in delivering exceptional sound experiences while maintaining a focus on user-friendly design and content accessibility.

Sonos reported a record Q1 2021 with GAAP net income increasing by 87% to $132.3 million. Non-GAAP net income rose to $153.2 million, while GAAP diluted EPS jumped to $1.01 from $0.60 and non-GAAP EPS reached $1.17 from $0.74. Revenue grew 15% year-over-year to $645.6 million. Adjusted EBITDA surged 78% to $166.3 million, with a margin increase to 25.8%. The company raised its fiscal 2021 outlook for revenue to $1.525 billion - $1.575 billion, indicating strong momentum.

Sonos, Inc. (Nasdaq: SONO) will report its financial results for Q1 ended January 2, 2021, after market close on February 10, 2021. A press release and slide presentation will follow, available at this link. The company will host a conference call and Q&A at 5:00 p.m. ET on the same day, accessible via this page. Participants can join the call by dialing (833) 921-1637 in the U.S. or (236) 714-2128 internationally.

Sonos (Nasdaq: SONO) expands its streaming service with new artist stations and original programming on Sonos Radio and Sonos Radio HD. The lineup features personal stations from artists like D’Angelo, FKA twigs, and Björk, alongside genre-specific content from industry veteran Corey Smyth. The ad-free Sonos Sound System will introduce shows such as Object of Sound, hosted by Hanif Abdurraqib. This initiative aims to enhance music discovery through curated playlists and personal insights from creators, solidifying Sonos' position as a leading streaming service.

Sonos (Nasdaq: SONO) and Legrand have entered a multi-year licensing agreement covering Legrand's NUVO multi-room wireless audio products. This deal allows Legrand to license Sonos’ patents, marking a significant recognition of Sonos' intellectual property value. Chief Legal Officer Eddie Lazarus emphasizes that this collaboration demonstrates a fair marketplace where innovation is acknowledged and compensated appropriately. Sonos, a leader in multi-room wireless home audio, continues to enhance user experiences through its technology.