On Wednesday after the close of markets, Sonos announced that it had turned in a record first quarter in their current 2021 fiscal year with revenues up, profits up, long-term debt down and new records set in several performance categories. In fact, actual performance came in so much stronger than the company had originally anticipated, that after just this first quarter of the year they announced they were revising and raising their guidance for their anticipated revenues and profits for the remainder of the fiscal year.
In yet another sign of patent success for Sonos, major industry player Legrand has agreed to a multi-year licensing deal to cover the technology used in their Nuvo line of wireless multi-room products. This is yet another sign that tends to add to the growing power of the Sonos patent portfolio covering these technologies.
See more on this announcement of a deal with Legrand…[Read more…] about Sonos Scores Another Patent Win, Legrand Signs Multi-Year Licensing Deal
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?
See more on Sonos financial results…[Read more…] about Sonos is Getting Hooked on D2C Biz; Revenues & Profits Exceed Expectations
Sonos, Inc. (NASDAQ: SONO) announced this week that they are adding a new member to their Board of Directors. In fact, they even increased the size of the Board to make room for this new addition. The news surprised – and impressed – many market observers, as the person they are adding is Panos Panay, a top Microsoft Corp. executive. You see, if you are not familiar with Panay, there is something special about his background that makes him an intriguing addition to the Sonos Board.
Learn more about this Sonos recruitment…[Read more…] about Sonos Adds Top Microsoft Executive to Its Board of Directors
CEO Says Direct-to-Consumer Sales Were Big, Launching Three New Models
Sonos Inc. announced Wednesday the results of their fiscal second quarter, a quarter that CEO Patrick Spence called “challenging.” The company saw a double-digit sales decline of 17% to $175.1 million from $210.2 million in the same quarter in 2019. Worse, net losses more than doubled to $52.3 million – 129% worse than the net loss of $22.8 million in Q2 last year.
Still, Spence sounded upbeat in a letter to investors and says he is “confident that the actions we are taking today will set us up for long-term success and the continued tremendous opportunity ahead.”
Learn more about the sour Sonos results in Q2…[Read more…] about Sonos Hits Sour Note – Fiscal Q2 Sales Drop 17%, Losses Hit $52.3 Million
Case May Have Major Impact on Wireless Speaker Business
As we recently reported, a federal jury gave Sonos a sweeping victory in the first “bellwether trial” in Sonos Inc. v. D&M Holdings Inc. et al, siding with Sonos on all counts and awarding them nearly $2 million in damages. Furthermore, the jury affirmed the validity of the three Sonos patents at issue, and disagreed with D&M’s assertion that the patents were not valid.
Strata-gee spoke with both sides of this case and, this decision notwithstanding, neither appears ready to back down, even as this is just the first of what will ultimately be three trials in the case – two where Sonos is the plaintiff, and a countersuit by D&M Holdings where they will be the plaintiff. Sonos won round one, but this is a multi-round fight.
Both Sonos and D&M Holdings talk to Strata-gee in wake of trial verdict… [Read more…] about Sonos to Seek Injunction to Stop HEOS Sales of ‘Infringing Technology’
Will a Change of Judge Bring a Change of Outcome?
The battle for patent supremacy between Sonos and D&M Holdings is picking up significant steam. In one 30-day period of this year alone (June), we counted no less than 110 docket items. That’s more than four filings a day if you take out weekends. The vast majority of these items were heavy legal motions and other multi-dozen page document filings.
The lawsuit, originally brought by Sonos against D&M Holdings and their HEOS line, and ultimately reciprocated with a D&M counter-suit, has been raging on since October 2014. Yet as the matter is plunging headlong towards a trial by the end of this year, D&M is handed another loss, as Judge Richard G. Andrews denies two key D&M Motions for Summary Judgment in his last ruling before turning the matter over to a new judge.
See the latest developments in this battle between Sonos and D&M Holdings… [Read more…] about In Epic Legal Battle with Sonos, D&M Dinged Again
Delaware District Judge Richard G. Andrews has delivered a decision that is sure to be a blow against D&M Holdings’ defense in its now long-running patent infringement dispute with Sonos, originally filed in October 2014. Judge Andrews has denied a motion by D&M to invalidate four key Sonos patents at the heart of their dispute and a key part of Sonos’ claim that D&M’s HEOS products infringe upon these and other patents.
See more on this dramatic decision from the court in favor of Sonos… [Read more…] about Judge Finds Against D&M; Affirms Sonos Patents
Judge Makes Two Key Decisions
In revisting the long-running saga of Sonos, Inc. vs. D&M Holdings, Inc. et. al., we find that after a series of skirmishes over scheduling issues – such as deadlines for filings and responses, and new claims and counterclaims filed – there appears to be a concerted effort by both parties to ratchet up the pressure. So far, it appears to our non-legally educated eyes that Sonos has a slight edge in this game, winning the scheduling skirmish and winning the right to expand the number of patents at issue.