On Tuesday, Sonos, Inc. [Nasdaq: SONO] reported its first quarter, fiscal 2024 results for the period that ended December 30, 2023. While the actual numbers were a bit of a mixed bag with revenues down – even though the company embarked on a strong holiday promotional push – the company booked strong gross profit improvements and generated more cash beating Wall Street estimates. This resulted in a big jump in its share price on the next trading day.
Search Results for: Sonos and legal
Massive Masimo vs. Apple Legal Battle Has Epic Day; Is Apple Capitulating?
STORY UPDATED – Scroll down to read
In the matter of Masimo Corp. v. Apple, Inc….AND…Apple, Inc. v. Masimo Corp. we have a full-blown, overt litigation war raging between two determined combatants. It is a complex battle that has opened multiple fronts with multiple separate actions initiated by each of the parties in District Courts, the U.S. International Trade Commission, the Patent Trial and Appeal Board, the U.S. Customs and Border Protection, and the U.S. Court of Appeals for the Federal District. Almost every one of the myriad decisions by all of these entities is appealed to final disposition.
However, Friday, January 12, 2024, turns out to be an especially important day.
Learn about recent decisions in the legal battle between Masimo and Apple
[Read more…] about Massive Masimo vs. Apple Legal Battle Has Epic Day; Is Apple Capitulating?Masimo vs Apple – After Early Success, The Wind Shifts… And It’s a Foul Wind
What a year it’s been for Masimo Corporation (NASDAQ: MASI), the manufacturer of medical products sold largely to hospitals and other healthcare systems who is also the owner of Sound United, a leading manufacturer of audio products. Simply saying they’ve been through highs and lows would understate the high drama in which the company has been immersed this past year – not the least of which is embodied by its deathmatch with Apple, Inc., the largest company in the world. Apple is also regularly ranked as the most profitable company in the world – a well-resourced adversary to engage thoughtfully…and carefully.
Some impressive early Masimo wins in this battle with Apple, however, seemed to suggest that the tech behemoth was losing its balance and the altercation might be winnable by its much smaller rival. But then…
But then the wind shifted, and recent events suggest it’s a foul wind indeed…
[Read more…] about Masimo vs Apple – After Early Success, The Wind Shifts… And It’s a Foul WindAfter $32.5M Jury Win for Sonos, Judge Throws Out Jury Verdict and Finds for Google
Declares Sonos Patents Unenforceable & Invalid
In a shocking twist to a long-running patent battle, U.S. District Court Judge William H Alsup declared Sonos’ ‘966 and ‘885 patents at trial are unenforceable and invalid effectively countermanding a jury decision on behalf of Sonos and a royalty award of $32.5 million. Furthermore, the judge’s order suggests that Sonos abused the patent system by attempting to use it to “punish an innovator” and to “enrich a[n] [innovation] pretender.”
See more on this shocking twist at the end of Sonos vs. Google
[Read more…] about After $32.5M Jury Win for Sonos, Judge Throws Out Jury Verdict and Finds for GoogleJury Sides with Sonos, Orders Google to Pay $32.5m for Infringement
A jury has come to a unanimous verdict in the matter of Sonos, Inc. vs. Google, LLC, a patent infringement lawsuit initially filed on September 22, 2020, in the U.S. District Court for California Northern District in San Francisco. In the case of one of the two patents under consideration – the ‘885 patent – the jury sided with Sonos, finding that Google products did infringe upon the Sonos patent and awarded them a judgment of $32.5 million.
Learn more about this Sonos win over Google
[Read more…] about Jury Sides with Sonos, Orders Google to Pay $32.5m for InfringementLegal Predator Sonos is Wounded by Google, Its Largest Prey Yet
On the eve of the upcoming patent trial in the matter of Sonos, Inc. [Nasdaq: SONO], vs. Google, LLC [Nasdaq: GOOG], both parties had submitted motions for summary judgment trying to win as many points as possible while also clearing away as many outstanding issues as possible to limit the number of factual matters to be determined at trial by a jury. It has been a long and winding road to get to this point, but one thing seems clear to me, Sonos may have gotten more than they bargained for, as this action with Google, their largest adversary by far, appears to have taken a bit of a toll.
Learn more on Sonos vs. Google and the impending trial
[Read more…] about Legal Predator Sonos is Wounded by Google, Its Largest Prey YetIs Sonos a Patent Infringer? U.S. Int’l Trade Comm Launches Investigation
The tables have apparently been turned on Sonos, Inc. which now finds itself the subject of an investigation into alleged patent infringement by the U.S. International Trade Commission (USITC). The agency decided to launch an investigation of Sonos after receiving a complaint from Alphabet, Inc.’s Google division. There is one simple question: is Sonos a patent infringer?
Learn more about the USITC investigation of Sonos
[Read more…] about Is Sonos a Patent Infringer? U.S. Int’l Trade Comm Launches InvestigationGoogle Intensified Its Patent War With Sonos, Launched Battle on New Front
After two years of tussling in courts, with both sides registering a mix of wins and losses on various matters, you’d think some kind of settlement would be in order. But last week, Google intensified its patent war with Sonos by opening up yet another front with two new lawsuits on voice control and other technologies, leading me to believe that any type of settlement is yet down the road.
Learn how Google has opened a new front with Sonos
[Read more…] about Google Intensified Its Patent War With Sonos, Launched Battle on New FrontSonos Surprises Wall St.; Stock Value Drops >18% in After-Hours Trading
Consumer Biz Softens, Revises Forecasts Downward, CFO Departs
Wall Street hates surprises, especially when public companies fail to hit analysts’ estimates and when the company is forced to cut previously issued financial estimates based on a deteriorating macroeconomic environment. Sonos hit a surprisingly sour note in its report today on fiscal 2022 third-quarter results – soundly missing expectations, cutting forward guidance on future results, and announcing the CFO is leaving the company. The result of this terrible trifecta of bad news? Sonos stock dropped as much as 20% in after-hours trading.
See more on Sonos’ third quarter report
[Read more…] about Sonos Surprises Wall St.; Stock Value Drops >18% in After-Hours TradingSonos 2nd Fiscal Quarter Sees Revenues Grow, But Profits Hit by Supply Chain
Sonos reported on Wednesday that they had a strong second quarter fiscal 2022 result with good revenue growth. In the case of revenues, the company notes that they continue to track toward its annual revenue guidance of $1.95 billion – to – $2.0 billion. However, the company admitted that its profit margin took a hit as supply chain issues continue to bedevil it (and the rest of the industry) as well. They cut their forecast for profits in 2022.