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Snap One Reports Mixed Results for Fiscal ’22 Q4 & Full Year; Forecasts 2023 Resi Decline

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Cover page of Snap One presentation to financial analysts

Red Flags: Residential Market is ‘Softening’; Consumers are ‘Cautious’; Channel Inventory ‘Destocking’

Snap One Holdings Corp. (NASDAQ: SNPO) released their fiscal 2022 fourth quarter and full-year results after the close of the market on Tuesday and held a conference call for investment analysts shortly afterward with more details. The company produced a prodigious amount of data that they suggest shows success in the face of adversity, and forecast a decline in their performance in fiscal 2023.

They also said the industry slowed down in 2022 and will continue to be slow for the first three quarters of 2023.

See more on the latest Snap One earnings report and forecast

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It’s Show Time! Check Out These Hot Products at ISE 2023

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Opening day for ISE 2023

See Solutions from Crestron, Russound, Snap One & AudioControl

Taking place right now in Barcelona, Spain, ISE is a unique show that offers products tailored for both the residential and commercial side of the integration business, as well as for the international market. Of course, many major industry brands that distribute their goods globally are showing there, including these top technology products from the curated selection shown below.

Select these top tech items being shown at ISE 2023

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Sources: Snap One has Restructured Operations with Staff Layoffs

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Snap One website

Multiple reports are pouring in that Snap One, a leading custom integration supplier, has just completed a restructuring that resulted in layoffs. It is not clear at this point just how many employees were cut, but it was significant enough to motivate several sources around the country to reach out to Strata-gee.

See what we know so far on the Snap One restructuring

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Why is Snap One Stock Dropping to New 52-Week Lows Recently?

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slide from Snap One earnings report

Snap One (NASDAQ: SNPO), a major player in the custom integration/smart home channel, recently reported its fiscal 2022, third-quarter results last month, showing both revenue gains and reduced losses. The company says sales are slowing and they revised their forward-looking guidance for yearly performance downward.

Since this earnings report was released, the value of Snap One stock has really struggled, dropping 19% and setting several new 52-week lows.

See why Snap One stock struggles in the wake of their Q3 performance report

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Snap One Acquires Parasol Remote Support Service

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From the Snap One website

In a move that was widely anticipated, Snap One announced this week that it will acquire Parasol, a remote support service that since its launch has been based on Snap One’s OvrC system. The company says that this acquisition will result in “creating new opportunities for Snap One Partners to focus on running their business while increasing profitability, productivity and service levels to their customers.”

Learn more about Snap One’s acquisition of Parasol

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Select Tech Stories from CEDIA Expo 2022

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floor traffic at CEDIA Expo 2022

This post will present some of the top tech stories from CEDIA Expo 2022. You know, covering a trade show like Expo has always been a particular challenge for me. As someone who is always looking for a good story, going to a trade show with hundreds of exhibits is a bit like trying to take a sip of water from a fire hose. Nonetheless, I was able to discover several stories I found particularly interesting and I hope you’ll like them too.

Read on for my select tech stories from CEDIA Expo 2022

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Snap One Offers ‘Partners’ Advice to Protect Them from Fraud

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Snap One By integrators for integrators

Snap One, the entity originally founded as SnapAV, and a company whose motto is “Founded by integrators for integrators,” recently demonstrated how they strive to be a better partner by providing their dealers with some really solid and helpful advice. One of their appreciative dealers forwarded me an email he had received from the company containing useful information on how to protect his business from fraud.

See how Snap One sought to protect dealers from fraud

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Snap One Fiscal 1st Qtr Results Show Good Revenue Growth, But a Net Loss

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Snap One cover photo

At the end of last week, Snap One Holdings Corp. released the results of their fiscal 2022 first quarter, a period which ended April 1, 2022, with comparisons to the same quarter last year, which ended on March 26, 2021. The company showed good revenue growth in the quarter but is still dealing with a net loss – albeit less of one than in 2021.

See the details on the Snap One fiscal Q1 results

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Snap One Says Selling to All 4 Buying Groups Shows Commitment to Integrators

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Snap One website page

Snap One announced today that they are now selling to all four major custom integration buying groups (they called them “all four major CEDIA U.S. buying groups”) and that fact shows their commitment to their “integrator partners.” The company says it is now allied with Azione Unlimited, HTSA, HTSN, and ProSource “…as a key part of its long term strategy to help dealers succeed.”

Learn more about this strategy by Snap One

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Snap One Unleashes an Array of New Products at Virtual Partner Summit

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Snap One's Ryan Marsh
Ryan Marsh, Snap One EVP of Sales

New Introductions for Control4, OvrC, Episode and Triad

Last Friday, Snap One held a Virtual Partner Summit in which they unveiled a whole roster of new products to dealers participating in the online event. It was an impressive launch in key product areas for the company including OvrC, audio, new controllers, new soundbar and wireless sub, new architectural speakers, a major new operating system upgrade called OS 3.3.0, and more.

See more on these new products from Snap One

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