Barely out of CEDIA Expo 2023, Snap One announced this week that it has launched six new warehouse locations they call local partner stores, further filling out its national distribution footprint. The company also said it will finish 2023 having hosted no fewer than 400 events – a prodigious effort at connecting with its customers, the local integrators.
Snap One
Snap One to Pump More R&D $’s into Software Dev to ‘Fuel Innovation’
Snap One, a leading manufacturer of a diversified group of custom integration (CI) brands, announced on the eve of CEDIA Expo 2023 that it is “increasing investments in software research and development (R&D)” for the purpose of enhancing the “performance, reliability, and scalability” of its solutions to yield “more efficient backend processes and better user experiences.” The release goes on to note the importance of software for the residential and commercial custom integration industries.
See more on increasing R&D dollars for software development by Snap One
[Read more…] about Snap One to Pump More R&D $’s into Software Dev to ‘Fuel Innovation’Snap One Reports 2nd Quarter Fiscal ’23 Results; Net Sales Declined, Net Loss Reduced
Last week, Snap One Holdings Corp. (Nasdaq: SNPO) released its financial results for the second quarter of fiscal 2023, the 13-week period ending June 30, 2023. The company reported mixed results with a continuing sales decline but with a reduced net loss in the quarter.
See more on the SnapOne 2nd quarter fiscal ’23 report
[Read more…] about Snap One Reports 2nd Quarter Fiscal ’23 Results; Net Sales Declined, Net Loss ReducedSnap One Sues Josh.ai and AVA for Patent Infringement and So Much More
Lawsuit Alleges Unethical Biz Practices from CI Brands Perceived as Upstanding Citizens
On Monday, Snap One revealed that it had filed a lawsuit against two other well-known, if smaller, brands, alleging patent infringement and a range of illicit and unethical business practices that it claims violated existing contractual agreements. The defendants in this matter are Josh.ai and AVA.
The allegations, if true, are really quite surprising.
See more on Snap One vs Josh.ai and AVA
[Read more…] about Snap One Sues Josh.ai and AVA for Patent Infringement and So Much MoreSnap One Reports Mixed Results for Fiscal ’22 Q4 & Full Year; Forecasts 2023 Resi Decline
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
[Read more…] about Snap One Reports Mixed Results for Fiscal ’22 Q4 & Full Year; Forecasts 2023 Resi DeclineIt’s Show Time! Check Out These Hot Products at 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
[Read more…] about It’s Show Time! Check Out These Hot Products at ISE 2023Sources: Snap One has Restructured Operations with Staff Layoffs
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
[Read more…] about Sources: Snap One has Restructured Operations with Staff LayoffsWhy is Snap One Stock Dropping to New 52-Week Lows Recently?
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
[Read more…] about Why is Snap One Stock Dropping to New 52-Week Lows Recently?Snap One Acquires Parasol Remote Support Service
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
[Read more…] about Snap One Acquires Parasol Remote Support ServiceSelect Tech Stories from 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.