Strategy in TECH...
There is a major shakeup in the executive management team at Sony Group that will take effect at the beginning of the next fiscal year, which, as is true for most Japanese companies, starts on April 1, 2025. These are big changes to important roles, including Chief Executive Officer, Chief Financial Officer, and President.
But the change that most Sony employees are buzzing about is the person that was named as its new CFO.
Pomerantz Law has announced it is launching an investigation of Sonos, Inc (Nasdaq: SONO) on behalf of investors. The firm says that this action is being taken to investigate claims surrounding the company’s handling of its 2024 app disaster and whether certain Sonos officers and/or directors “have engaged in securities fraud or other unlawful business practices.”
On Tuesday, after the close of financial markets, Masimo Corporation (Nasdaq: MASI) announced its financial performance for the fourth quarter and full year of Fiscal 2024. Consolidated revenues grew a mere 2%, and the company booked a net loss of $304.9 million. And yet, investors were thrilled, driving up the value of shares of MASI stock by a double-digit percentage on the first trading day after the announcement.
What?!?!
Resideo Technologies, Inc. (NYSE: REZI) reported its financial performance in the fourth quarter and full year of Fiscal 2024, the period that ended on December 31, 2024. The company showed good growth, much of which was thanks to its June 2024 acquisition of Snap One, which contributed $553 million to its net revenues.
However, that revenue win was not pain free…
On Monday, Sonos, Inc. (Nasdaq: SONO), in a filing with the Securities and Exchange Commission (SEC), revealed that Deirdre Findlay, Sonos Chief Commercial Officer, had resigned from her position with the company on February 19, 2025. This is yet another top executive, in this case, a top marketing position, to leave the company.
Sonos announced the financial results for its first quarter of Fiscal 2025, the 90-day period that ended on December 28, 2024. It was sobering news – Revenues declined over 10%, Operating Income collapsed almost 40%(!), and Net Income slid 38%. These poor results show that Sonos is starting out 2025, not as bad as 2024…it’s starting out worse.
Yet some outlets on Wall Street reported Sonos results were “better than expected.” With these numbers, how is that possible? Read on…
Voxx International Corporation (Nasdaq: VOXX) has released its Form 10-Q report to the Securities and Exchange Commission (SEC) revealing its financial results for its third quarter – the 90-day period ending on November 30, 2024 – as well as the year-to-date nine-month period ended the same date for Fiscal 2025. It is a sobering report of a company struggling to get to the altar with Gentex while its financial foundation is increasingly shaking.
The surprising results answer some questions, yet raise others as revenues continue to decline and losses mount.
On Wednesday, ProSource CEO Jim Pearse notified members of one of the industry’s largest dealer buying groups that Premium Audio Company – a subsidiary of Voxx International Corporation that oversees its audio brands Onkyo, Integra, and Klipsch – is being dropped from its assortment. This is big news and comes at a difficult time for Voxx which is in deep due diligence for its acquisition by Gentex Corp.
Gentex Corporation (Nasdaq: GNTX) announced its financial results for the fourth quarter (4Q) and full year (FY) of Fiscal 2024. The results spooked investors as the company appeared to be cruising to a solid, probably single-digit growth year through the first three quarters. In fact, the company was predicting a year of record net sales through the first nine months of 2024. Then…the fourth quarter happened…
Analysts on an earnings call had a lot of questions about management’s guidance miss, the reasons for the performance decline at the end of the year, and what the company plans to do with Voxx when the deal finally closes.
Voxx International Corporation (Nasdaq: VOXX) revealed on Friday that it has received an official notification from the Nasdaq Stock Market LLC (Nasdaq) informing the company that the fact it has failed to timely file its Quarterly Report on Form 10-Q for the period ending November 30, 2024 means that it is out of compliance with Nasdaq Listing Rule 5250(c)(1). The company said it had received Nasdaq’s official compliance notice on January 28, 2025.
