Snap One announced on Thursday that it has acquired Staub Electronics, a distributor based in Canada who has been the Snap One distributor there for ten years as an independent entity. Snap One says this “strategic move” will “elevate [the] partner experience in Canada.”
But a 57% Increase in SG&A Expenses Swung the Quarter to a Net Loss
Snap One Holdings Corp. (NASDAQ: SNPO) announced the results for its fiscal 2021 third quarter last week and said that thanks in part to an August 2021 price increase and continued expansion of its dealer base, the company booked a substantial revenue increase to $260.7 million, or 15% higher than the same quarter the year before. However, the company additionally reported a net loss of -$21.5 million, way below the net income of $1.4 million in the quarter last year, due to a significant increase in SG&A expenses.
See more on the Snap One 3rd quarter results[Read more…] about Snap One Sees Q3 Revenues Increase Thanks to Price Increase & More Dealers
Snap One announced this week that it has opened another “Partner Store” – a locally based warehouse location – that carries its products as well as other brands and offers support and training for area integrators. This new location opened in Hollywood, Florida, and – interestingly – is being operated by their Allnet branch.
See more on the continued expansion of Snap One[Read more…] about Snap One Continues Local In-Market Expansion; Adds New Florida ‘Store’
Snap One Holdings Corp. (NASDAQ: SNPO) announced the results of their fiscal second quarter, the period that ended June 25, 2021. This is the first official report to investors for the newly public company, and Snap One executives were excited to talk about all the positive milestones they achieved in the quarter – first and foremost, launching a successful public offering. Aside from a technical glitch in their conference call with analysts, it was all good news from the company.
See more details on the Snap One quarterly report[Read more…] about Snap One Reports 34% Increase in Q2 Sales, With a Reduced $1.1M Net Loss
The Day After Losing 39 Exhibitors, Expo Loses Another 26
What a crazy couple of weeks it has been for exhibitors of CEDIA Expo 2021, and also for potential attendees who watched a slow-motion train wreck unfold right in front of their eyes. It was almost exactly two weeks ago – on August 10th – when Savant CEO Robert Madonna suddenly announced that Savant was pulling out of CEDIA, due to concerns over the surging infections from the Delta variant of COVID-19.
Little did we know then that this was the trickle before the flood…
See more on the saga of CEDIA Expo 2021[Read more…] about CEDIA Expo 2021: Should You Risk Your Health to Attend a ‘20% Expo’?
Moody’s Investors Service, one of the top global credit and bond rating agencies, announced last week that it has raised the credit rating on Wirepath LLC (dba Snap One) based on its successful completion of an initial public offering of shares of the company’s stock. This is good news for Snap One and potential investors.
Learn more about the new Snap One credit rating by Moody’s[Read more…] about Moody’s Raises Snap One’s Credit Rating in Wake of Its Successful IPO
In 2020, Company Revenues Grew 37.8% to $814.1M But With a Net Loss of $25.2M
Snap One Holdings Corp (Snap One) – formerly SnapAV – has filed an S-1 registration with the Securities and Exchange Commission (SEC) in preparation for an initial public offering (IPO) of its stock on a public exchange. In this S-1 filing, we learn much about the company’s current position and what its plan is to grow the operation to even loftier heights.
See more on the Snap One S-1 registration…[Read more…] about Snap One Files for an IPO Laying Out Its Strategy for Growth & Perhaps Profit
SnapAV Execs Hindman & Vaughn Explain the Rationale Behind the Change to Strata-gee
Recently, in a special Zoom presentation for Strata-gee by SnapAV executives Jeff Hindman (Chief Revenue Officer) and Kordon Vaughn (VP Marketing), I was about to learn about the company’s new brand strategy going forward. Ever since SnapAV acquired their largest division, Control4, there has been much speculation about how to address the market with two strong, well-known brands. I joked, “So what’s it going to be…ControlAV or Snap4?
It turns out I wasn’t that far off, as the executives shared with me that they would be rebranding the organization as Snap One.
Learn more about how SnapAV became Snap One…[Read more…] about SnapAV and Control4 are Rebranded as Snap One
SnapAV announced today (Tuesday) that its latest rendition of its automation brand Control4’s OS 3 operating software – OS 3.2.2 – finally introduces full support of the company’s popular OvrC remote management platform. No doubt part of their ongoing integration strategy since they first acquired Control4, this news is sure to make life just a little easier for their Control4 dealers who support OvrC.
See more on Control4’s OS 3.2.2 & OvrC[Read more…] about SnapAV Says Latest Control4 OS 3.2.2 Update Offers Full Support of OvrC
SnapAV announced today that it will acquire network service agency Access Networks in a deal expected to close later this month. Terms of the deal were not disclosed. The company says this acquisition “will broaden SnapAV’s networking portfolio with newer products and managed services including system design, configuration, monitoring, and support.”