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Sonos Says Q2 Fiscal 2024 ‘Exceeded Our Expectations;’ Revenues -16.9%, Losses +127%

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Sonos Q2/FY2024 cover

Sonos, Inc. (Nasdaq: SONO) announced its financial performance for the second quarter of Fiscal 2024, the period that ended on March 30, 2024. The numbers, as we’re seeing more consistently across a wide variety of consumer brands, were rough…really rough. Revenues in the quarter declined a nasty 16.9% and the company’s Net Loss more than doubled, increasing by a scary 127%.

Yet CEO Patrick Spence claimed in a statement that “…we delivered results that slightly exceeded our expectations…” Either they were expecting a really devastating result, or I’ll have whatever he’s having!

See more on the Sonos Q2 Fiscal 2024 results

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VOXX Fiscal 2024 Results Reveal 2nd Year of Deteriorating Sales & Deepening Losses

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VOXX headquarters

Value of VOXX Stock Drops 23.9%…Hits New 52-Week Lows

After markets closed on Tuesday, VOXX International Corporation (NASDAQ: VOXX) released its Fiscal 2024 fourth quarter and full-year financial results for the period ending February 29, 2024…and it wasn’t a pretty picture. Net sales in Fiscal 2024 were down a double-digit percentage at 12.2% and the company’s Net Loss ballooned to an eye-popping $45.6 million.

What can investors expect in Fiscal 2025 from Voxx? At best, flat sales but the company is hoping to engage in a protracted restructuring process to try and reattain profitability.

See more on the VOXX report of financial performance in fiscal 2024

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Oasys Summit 2024: ‘What a Difference a Year Makes!’

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Hank Alexander, Oasys Executive Director

Earlier this month, folks from all over the country made a trek to Austin, Texas to participate in the Oasys Summit 2024. I was one of them. Only the second such gathering for the newly launched group, it was with great anticipation I joined them in Austin for great music, great food, and really fun and quirky pubs (do they call them pubs in Texas?)

But mostly, I joined them for an incredible industry conference that seemed particularly poignant as the young group feels very much like a true start-up, whose participants really bonded over great conversation, best practice sharing, savvy education from top industry experts, smart impactful keynote speakers, and the forging of iron-clad new friendships.

Learn more about Oasys Summit 2024

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Masimo Announces Double-Digit Drop in Revenues & Profits; Reveals Spin-Off Plans

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Masimo headquarters

Company Reveals Initial Plans for Spinning off Sound United Biz

Masimo Corporation (Nasdaq: MASI), yet another company in Tech that reported their financial results for the first quarter of Fiscal 2024 after the close of business on Tuesday, revealed that both revenues and profits had declined double-digit percentages in the quarter. What was remarkable about this result is that Masimo CEO Joe Kiani said in a statement in the release about the Q1 results that the company is “reaching a steady state.”

Investors apparently didn’t see it that way, as shares in MASI stock dropped almost 12% on Wednesday, the next trading day after the announcement.

See more on the Masimo Q1, Fiscal 2024 report

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Snap One Reports Results for Q1 of Fiscal 2024; Old Themes Continue

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Snap One booth at CEDIA Expo 2023

Snap One Holdings Corp, soon to be part of Resideo Technologies’ ADI distribution business, reported their financial performance for the first quarter of Fiscal 2024 yesterday. In the wash, it looks much like its other recent quarterly reports – sales decline, losses increase, sales shift from its own proprietary brands to third-party brands, etc. But a couple of things did change, starting with my assessment that much less effort than usual was expended in creating this pretty thin report than is typical for them…there isn’t even a quote from CEO John Heyman or anyone in management…and the company even chose not to hold an earnings conference call with analysts as they typically do every quarter.

I suspect that this is due to the fact that the entire company – and its investors – are simply waiting for the new owners to take over.

See more on the Snap One Q1 Fiscal 2024 financial results

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Emerald Reports Fiscal Q1 2024 Results; All Good, Except for One Unit

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Emerald Holding title slide

On Tuesday, Emerald Holding, Inc. [NYSE: EEX], aka Emerald Expositions, a national B2B tradeshow company, reported its financial results for the First Quarter of Fiscal 2024. Emerald, as most Strata-gee readers know, is the owner of the CEDIA Expo show, the Total Tech Summit show, and various publishing entities like CE Pro, Custom Integrator and more.

The consolidated results looked pretty good, but one business unit was a decided under-performer. Can you guess which one? Read on…

See what division under-performed in the Q1 fiscal 2024 report from Emerald

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2024 CI Expo Brings the Latest Tech to N. Cal Integrators for the 15th Time

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Photo from a past CI Expo

One of the longest-running custom integration technology events, the Northern California Technology Conference, known as the CI Expo, will hold its 15th annual dealer show this month at the Hilton Oakland Airport on May 30th. An early proponent of knowledge sharing and bringing the technology to you, this event is free for integrators. You can’t get a better deal than that!

See more on the 2024 CI Expo

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Josh.ai Goes on Offense, Fires Off Motion to Dismiss Much of Snap One Lawsuit

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Graphic with Snap One, Josh.ai, and AVA logos

In the matter of Snap One, LLC v. AVA, Inc, and Josh.ai, Inc., we finally see a substantive move after the initial filing by plaintiff Snap One and subsequent answers from the defendants AVA and Josh.ai. And that subsequent move is a doozy – Josh.ai has gone on offense and filed a motion to dismiss multiple major claims in the Snap One lawsuit.

Josh.ai’s filing is well written and puts Snap One on defense, forcing them to submit genuine facts and evidence to support their many claims, including a few allegations that were really quite salacious.

See more on Josh.ai’s Motion to Dismiss putting Snap One on defense

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Emerging Player Trident Announces New Taurus Z-Wave Series Chip

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The Trident IoT website, maker of the Taurus Z-Wave chips

Trident IoT, a relatively new company founded by a group of industry veterans with extensive experience behind them (“over a century of industry knowledge” according to the company), announced this week that it is launching a new series of chips that it says will decrease the time-to-market for connected device manufacturers. This new series of chips is the Taurus Z-Wave Series.

But just what is the Taurus chip all about?

Learn more about the Trident Taurus Z-Wave Series Chips

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DTC Brands OSD Audio and Outlaw Audio Settle All Litigation; OSD Sues Homni

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OSD Audio website

Santos Electronics Inc., dba OSD Audio, and Outlaw Audio LLC – both direct-to-consumer (DTC) brands – have settled all claims between them in their dueling lawsuits that began back in 2022, according to court filings from earlier this year. In that order from the court, I learned that the entire action was dismissed “with prejudice” – meaning it cannot ever be revised or otherwise litigated again (on these issues).

See more on the end of OSD Audio v. Outlaw Audio, and vice versa

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