SONO
Sonos, Inc.18.24
-0.09-0.49%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
2.20BP/E (TTM)
-Basic EPS (TTM)
-0.51Dividend Yield
0%Recent Filings
8-K
8-K
Sonos Q3 revenue beats guidance
Sonos reported Q3 fiscal 2025 revenue of $344.8 million, topping guidance despite a 13% drop from last year's $397.1 million amid tariffs and macro uncertainty. Gross margins held at 43.4% GAAP, with Adjusted EBITDA hitting $36 million on sharp expense cuts, including a February restructuring that trimmed 12% of staff. GAAP net loss narrowed to $3.4 million. Restructuring costs may exceed estimates.
10-Q
Q3 FY2025 results
Sonos revenue fell 13.2% year-over-year to $344.8M in Q3 FY2025 ended June 28, 2025, yet gross margin held at 43.4% amid lower product costs offsetting inventory write-downs. Operating loss narrowed to $2.9M from $12.6M profit, driven by 14.7% cuts in operating expenses through restructuring that trimmed headcount by 18% total. Diluted EPS of -$0.03 aligns with 120.4M shares, no anti-dilution flagged. Cash swelled to $201.3M with $133.9M YTD operating cash flow, free cash flow at $110.5M (derived), and $97.6M revolver availability sans debt. Restructuring charges hit $25.6M YTD, including CEO transition costs. Patent battles with Google drag on, risking IP defenses.
8-K
Sonos names Conrad permanent CEO
Sonos appointed Tom Conrad as permanent Chief Executive Officer and President on July 22, 2025, after his interim role since January 13. The board praised his restoration of urgency and software improvements, positioning the company for AI-driven innovation and growth. Conrad's package includes $850,000 base salary, 100% target bonus, $750,000 performance bonus, and $7 million in equity awards vesting over three to four years. Leadership stability aids product pipeline execution, yet execution risks persist amid market shifts.
10-Q
Q2 FY2025 results
Sonos posted Q2 FY2025 revenue of $259.8M, up 2.8% y/y but down from Q1's $550.9M (derived), with gross margin dipping to 43.7% from 44.3% y/y amid higher-cost product shifts and reorganization hits. Operating loss narrowed to $61.2M from $71.0M y/y, thanks to $23.7M in restructuring charges tied to workforce cuts and product roadmap tweaks, while net loss edged to $70.1M or $(0.58) per diluted share on 119.9M shares. Cash from operations hit $96.5M YTD, driving free cash flow of $77.8M after $18.7M capex (derived), with $173.2M in cash equivalents and full $100M revolver availability despite no debt. Inventory slashed 40% to $138.4M, signaling tighter supply chain control. Yet tariffs on imports from Vietnam and Malaysia loom as a fresh trade risk.
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