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Sonos Intros New CFO and Stock Drops Again

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Sonos logo

Last week Sonos (Nasdaq: SONO) announced a new CFO to replace current CFO Mike Giannetto, whose retirement was unexpectedly announced almost as an afterthought in a February report of Q1 fiscal results. Late in the text associated with those results, CEO Patrick Spence, in an almost casual fashion, thanked Ginnetto for his service and told investors the CFO was retiring…a total surprise to the market. Sonos stock dropped double digits…and dropped even though the company had reported a record first quarter. (Read my report to see troubling signs within the ‘record’ Sonos quarterly report…)

New CFO intro & Sonos stock drops again…

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Sonos One to be Replaced with Upgraded ‘Gen 2’ Version

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Photo of Sonos One in white finish

Thanks to some heads-up reporting by The Verge, we learn that Sonos will announce an upgraded version of their Sonos One speaker system. According to the report, the upgrades are all internal and the new version will, somewhat confusingly, look exactly like the original one.

See more on the ‘new’ Sonos One…

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Sonos Reports Record Fiscal Results – Stock Immediately Tanks Double Digits

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Sales Up, Profits Up…What’s Not to Like?

Sonos logo

In what is becoming a bit of a familiar refrain in tech these days, including our report just yesterday on Control4’s results, Sonos reported record results for their fiscal first quarter on Wednesday. The company beat analysts’ expectations for revenues ($496 million vs. $491M expected) and for earnings ($0.55/share versus $0.41 expected). And yet, their stock tanked fully 17% after the announcement. Not only that, but as of 11:00AM today, Sonos stock is down another more than 13%.

What went wrong for Sonos in this positive announcement?…

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Sonos Gets Serious about Integration with Amp

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Partners with Sonance; Expands Developers; Opens Up API

Sonos Amp on white bgSonos announced a new product today called Amp. Amp is essentially everything Sonos offers for wireless powered speakers…for a normal wired passive speaker system. This opens the door to allow the integration of a wide range of third-party speakers into the Sonos ecosphere. But Sonos views Amp as much more than that – as the heart and start of integrating Sonos into a sophisticated smart home installation.

In short, Sonos is getting serious about custom integration… [Read more…] about Sonos Gets Serious about Integration with Amp

CE Week Panel: The Future Will Be Lead by Smart Speakers

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CE Week logoOne of the more interesting conference panels that took place at CE Week last week in the Jacob Javitz Center in Manhattan was a panel called, “Listening in the Living Room: How Smart Speakers are Striving to Be the Next Great Planform.” This panel featured Gary Schultz, Director, Business & Product Development, SDI Technologies Inc, the parent company of iHome and Andrew Vloyanetes, Sonos’s sales manager. The panel was moderated by John Quain, a contributor to The New York Times.

Some of what this panel had to say was in line with what you might expect – they are both pretty high on smart speakers and the category’s conjunction with voice control.

But there were some other interesting tidbits that emerged… [Read more…] about CE Week Panel: The Future Will Be Lead by Smart Speakers

Sonos v. HEOS – War is Over, Peace Has Come

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hippie family w/peace signOn Friday last week, we learned that Sonos and D&M Holdings have settled their litigation, first begun in October 2014. Although the terms of the settlement are confidential, all actions taken by each party are now moot.

It is likely that the parties now enjoy some form of licensing arrangement that put all adversarial issues behind them.

See more on what we know about the end of the Sonos and D&M patent war… [Read more…] about Sonos v. HEOS – War is Over, Peace Has Come

Sonos Cuts Nearly 100 Employees or 6% of Staff

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BREAKING NEWS

Sonos logoSonos Inc. confirmed late yesterday that it has cut 6% of its staff, or 96 employees, just days before a highly anticipated public offering expected as early as next month. The cuts are said to have been across all department and at all levels.

See more on what we know about the Sonos staff cuts… [Read more…] about Sonos Cuts Nearly 100 Employees or 6% of Staff

Sonos Quietly Prepares for Public Offering in June

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Photo of both finishes of Sonos One
Sonos One

The Wall Street Journal is reporting that wireless music system maker Sonos is getting ready for the big time by planning an initial public offering. According to the report, the IPO could happen as soon as this July…or even June.

See more on this new of a Sonos IPO… [Read more…] about Sonos Quietly Prepares for Public Offering in June

In Battle with Sonos, D&M Takes Yet Another Blow

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Sonos Seeks Permanent Injunction Against Infringing Products

HEOS logoThe battle rages on between D&M Holdings and Sonos over the patent infringement lawsuit brought by Sonos in 2014 against the HEOS by Denon line, and in which Sonos won the first set of their claims in a bellwether trial that concluded this past December. In retaliation for the Sonos lawsuit, D&M Holdings filed a countersuit that is now heating up, and in which they just lost a major decision from Judge Richard G. Andrews.

See more on D&M’s loss in this ongoing matter… [Read more…] about In Battle with Sonos, D&M Takes Yet Another Blow