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Snap One Closes Out a Tough Year; They Say Next Year Will Be Better…Maybe

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Cover page of Snap One Fiscal Q4 & FY 2023 results

Company Turns To Forced Client Fees to Improve Its Results

At the end of last week, Snap One Holdings Corporation [NASDAQ: SNPO] announced the results of its Fiscal Fourth Quarter and Full Year 2023. Much as we’ve seen quarter-by-quarter all year long, the company remained subsumed by a challenging “destocking” market, with Net Sales in Fiscal 2023 finishing down 5.6%, and its Net Loss last year increasing by another 146.3% this year. CEO John Heyman called it “another strong year.”

But was it truly “another strong year?”

See more details on the Snap One Fiscal 2023 performance

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Emerald, Owner of CEDIA Expo & CE Pro, Says 2023 Revenues Rise 17% but Profits Drop 102%

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Emerald Holding, Inc. (NYSE: EEX), the parent company of Emerald Expositions, one of the country’s largest B2B tradeshow exposition companies, reported its Fiscal 2023 fourth quarter and full-year results. The results were mixed with full-year revenues growing by 17.5% compared to Fiscal 2022, but profits collapsing by 102% to a Net Loss.

Company management expressed extreme optimism on a call with financial analysts, but its stock value dropped dramatically the day it released these numbers.

Learn more about the Emerald Holding results for Fiscal 2023

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Masimo Fiscal 2023 Q4 & Full Year Results Show Continued Drop in Consumer Spending on Audio

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Masimo Fiscal 2023 results

Masimo Corporation (Nasdaq: MASI) announced on Tuesday its financial results for the fourth quarter and full year of fiscal 2023, the period that ended December 30, 2023. Results were mixed with revenues down double digits in the quarter but flat for the year. But a more sobering picture emerged for the “non-healthcare” division, also known as Masimo Consumer, which is the division that was formed when the company acquired Sound United almost exactly two years ago.

Learn more about the Masimo results for fiscal 2023 and the fourth quarter

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Sonos 1st Quarter Fiscal 2024 Revenues Decline But Margins & Profits Improve

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Sonos FY24 Q1 results

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.

See more on the performance of Sonos in Q1 of fiscal 2024

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Nailed It! Masimo Preliminary Results for Fiscal ’23 Q4 & Full Year are Within Guidance

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Masimo logo

Will Exclude Apple Litigation Fees from Future Guidance

On Wednesday, Masimo Corporation (NASAQ: MASI) released preliminary results for its Fiscal 2023 fourth quarter and full-year results and issued new guidance representing its outlook for Fiscal 2024. Even though its final results won’t be announced until next month (February) the company has enough information to issue these preliminary results now, giving investors a better picture of how their fiscal quarter and year will end.

Masimo also announced it would change its formulation for future guidance by excluding the extensive costs associated with its litigation with Apple.

See more on this report from Masimo

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VOXX Reports Fiscal ’24 Q3 Results, Cites a ‘Slowing’ Economy & ‘Continued Softness’

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New VOXX product, the Klipsch Flexux powered by Onkyo

VOXX Stock Loses Over 12% of Its Value the Next Trading Day

After the close of markets on Tuesday, VOXX International Corporation (NASDAQ: VOXX) released its Fiscal 2024 third-quarter financial results for the period ending November 30, 2023. Citing continued challenging macroeconomic conditions in 2023, the company reported that its third-quarter sales declined 5.4% and net income dropped 74.3%. CEO Pat Lavelle, who was participating in an analyst conference call on its earnings by phoning in from CES 2024, started his presentation somberly, saying to analysts that, “2023 has been tough for everyone, not just Voxx. Our entire industry has had a very challenging year.”

Learn more from the VOXX fiscal ’24 3rd quarter earnings report

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Savant Acquires Long-Time Partner J Geiger Shading

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Savant demos Apple air tag triggering an automation controlling shades
At CEDIA Expo ’23 Savant showed a J Geiger motorized shade controlled by Apple Air Tags triggering an automation [click to enlarge]

Savant Systems, Inc., a leading provider of control, home automation, smart home, and smart power solutions, announced on Monday that it has acquired the assets of J Geiger Shading, a leading provider of architecturally conscious shading products. The two companies have had an ongoing association for several years now, and this new transaction brings J Geiger products under the Savant umbrella.

See more on Savant acquiring the assets of J Geiger Shading

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Nice and FSI, A Private Equity Group, Finalize a Strategic Partnership

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New Nice headquarters in Brazil
New Nice headquarters in Brazil [Click to enlarge]

Nice, a multi-national company based in Italy with a portfolio of Home Management and Building Management brands (including former Nortek Security and Control brands) and its primary shareholder BeNice Holding, has finalized a strategic partnership with FSI, an Italian private equity investment company. This partnership was first announced in August as part of a capital investment by FSI and has now fully closed.

See more on Nice partnering with FSI

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With Streaming Still Struggling, Spotify Announces 3rd Round of Layoffs

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Spotify's Daniel Ek, CEO & Co-Founder

Spotify Technology, S.A. announced that it will lay off approximately 1,500 employees, or about 17% of its entire staff. The company says the cuts are necessary to adjust operations for a very different operating environment than it anticipated when it built staff to drive growth in 2020 during the pandemic.

These are not its first layoffs in 2023…

See more on the Spotify layoffs

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WiSA Fiscal ’23 Q3 Revenues Drop 18%, Net Loss Deepens; New Nasdaq Violations

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WiSA graphic of its fiscal 2023 third quarter financial results

Earlier this month, WiSA Technologies released its Fiscal 2023 third-quarter earnings report and it was not a pretty picture. Still, company CEO Brett Moyer struck an optimistic tone and said its results were “better than expected.” Then he shifted attention to a focus on the company’s latest WiSA E technology which he suggests is making huge positive gains that point to a brighter future.

Can investors ignore the messy present financial condition…to hold on for a – maybe – brighter tomorrow???

Is WiSA delusional…or on to something?

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