Sonos, Inc.

$19.00

SKU: SONO-1 Category:

Description

Sonos, Inc. delivered an all-around beat in the previous quarter. The company reported $373.4 million in sales, up 23% sequentially and approximately flat year over year in both reported and constant currency terms. Americas climbed 8% year on year to 67% of overall revenue, driven by strong customer demand and a positive response to their Father’s Day offer in June. Quarterly registrations were down 2% year over year, but sales were down 11%. Despite the 11% reduction in products sold, revenue was almost steady year-over-year due to favorable product and channel mix, as well as targeted pricing increases. In line with last quarter’s projection, Q3 gross margin increased 270 basis points sequentially from Q2 to 46% or 45.9% when the forex effect is considered. This growth was fueled by a full quarter of projected price increases, decreased component costs, and a favorable mix. Adjusted EBITDA was $34.3 million, which exceeded the company’s expectations due to stronger revenue and decreased operating expenses.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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