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Patrick Spence

Sonos Has Another Record Quarter…But Just Barely

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Revenues Up 3%, But Net Income Drops 6.7%

Sonos Inc. released the results for their fiscal 2022 first quarter on Wednesday and the results were mostly mixed. While a quarterly revenue record was set, net earnings dropped. CEO Patrick Spence called it “an excellent quarter, with record-setting revenue” but the tone of the company’s management seemed slightly more muted on a conference call with financial analysts as compared to previous such events. Perhaps this was because their financial performance was slightly more muted as compared to past quarters.

See more on the Sonos finanical results for Q1 2022

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Sonos Car Audio and Other Surprises at Investor Event

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Audi Q4 E-Tron interior with Sonos car audio
Audi Q4 E-Tron interior [Click to enlarge]

On Tuesday, Sonos held a major investors event that started off with the introduction of their new Roam portable speaker. But the real purpose of this event was to provide investors information on their financial performance. And stock analysts and the media got quite a show – and a few surprises – as the company revealed their formula for success.

Learn what Sonos says is their success formula…

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Sonos is Getting Hooked on D2C Biz; Revenues & Profits Exceed Expectations

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But Is Everything Really as Good as It Looks?

Sonos, Inc. [NASDAQ: SONO] released their fourth quarter and full year financial results for fiscal 2020. Their performance pleasantly surprised Wall Street and their stock value exploded well over 20% in Thursday trading as the company exceeded analysts’ estimates for both revenue growth and profits. But is everything as it appears here?

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Sonos Fiscal Q3 Result Shocks Wall Street; Stock Value Skids 18%

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Sonos Move by the pool

Many Thought the Pandemic was Sonos’ Moment to Shine…Apparently Not to Be

Although Sonos CEO Patrick Spence and CFO Brittany Bagley both proclaimed that the Sonos fiscal Q3 results were “better than expected,” the fact that they reported that revenues had declined and the company booked a much larger net loss seems to be rubbing investors the wrong way. As of this writing on August 6th, the value of Sonos shares have declined more than 18% in afternoon trading.

See more on the Sonos fiscal Q3 results…

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Sonos Slashes Headcount by 12%, Closes NY Store, and Cuts CEO Spence’s Pay 20%

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Blow-up photo of Sonos One

In a new filing with the Securities and Exchange Commission, Sonos, Inc. [SONO:NASDAQ] announced a series of measures to try and get company costs under control in the wake of the COVID-19 impacted economy. More drastic than previous announcements, Sonos said it will cut its global headcount, close its New York retail store, close six satellite offices, cut the CEO pay, and further cut the executive team’s pay.

See more on these serious Sonos cutbacks…

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