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Sonos Inc (SONO) SEC Filing 10-Q Quarterly Report for the period ending Saturday, January 1, 2022

SEC Filings

Sonos Inc

CIK: 1314727 Ticker: SONO
Sonos Reports First Quarter Fiscal 2022 Results Increases Midpoint of Fiscal 2022 Outlook and Remains On Track to Achieve Fiscal 2024 Targets Santa Barbara, CA - February 9, 2022 - Sonos, Inc. (Nasdaq: SONO) today reported first quarter fiscal 2022 results. First Quarter 2022 Financial Highlights (unaudited) ● Revenue increased 3% year-over-year to $664.5 million; on a constant-currency basis, revenue increased approximately 3.5% year-over-year ● Gross margin increased 140 basis points to 47.8% ● GAAP net income of $123.5 million compared to $132.3 million last year; non-GAAP net income excluding stock-based compensation, restructuring, and legal and transaction related fees of $144.8 million compared to $153.2 million last year ● GAAP diluted earnings per share (EPS) of $0.87 compared to $1.01 last year; non-GAAP diluted EPS excluding stock-based compensation, restructuring, and legal and transaction related fees of $1.02 compared to $1.17 last year ● Adjusted EBITDA of $163.1 million compared to $166.3 million last year ● Adjusted EBITDA margin of 24.6% compared to 25.8% last year ● Cash flows from operating activities of $179.9 million ● Free cash flow of $173.6 million Fiscal 2022 Outlook ● Revenue in the range of $1.95 billion to $2.0 billion, representing growth in the range of 14% to 16% from fiscal 2021 ● Gross margin in the range of 46% to 47%. Our fiscal 2022 gross margin outlook includes minimal net tariff impact ● Adjusted EBITDA in the range of $290 million to $325 million, representing growth in the range of 4% to 17% ● Adjusted EBITDA margin in the range of 14.9% to 16.2% Fiscal 2024 Targets ● Revenue of approximately $2.5 billion in fiscal 2024, representing a 13% CAGR based on the midpoint of the company’s fiscal 2022 guidance. This revenue target is ahead of the company’s prior fiscal 2024 target of $2.25 billion communicated at its March 2021 investor event


The following information was filed by Sonos Inc (SONO) on Wednesday, February 9, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Sonos Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Operations And Comprehensive Income
Condensed Consolidated Statements Of Stockholders' Equity
Balance Sheet Components
Balance Sheet Components (Tables)
Balance Sheet Components - Accounts Receivable, Net Of Allowances (Details)
Balance Sheet Components - Accrued Expenses (Details)
Balance Sheet Components - Change In Deferred Revenue (Details)
Balance Sheet Components - Expected Revenue Recognition (Details)
Balance Sheet Components - Finite-Lived Intangible Assets, Future Amortization Expense (Details)
Balance Sheet Components - Goodwill (Details)
Balance Sheet Components - Inventories (Details)
Balance Sheet Components - Other Current Liabilities (Details)
Balance Sheet Components - Product Warranties (Details)
Business Combinations
Business Combinations - Additional Information (Details)
Business Overview And Basis Of Presentation
Business Overview And Basis Of Presentation (Details)
Business Overview And Basis Of Presentation (Policies)
Commitments And Contingencies
Commitments And Contingencies - Textual (Details)
Debt
Debt - Additional Information (Details)
Fair Value Measurements
Fair Value Measurements (Details)
Fair Value Measurements (Tables)
Income Taxes
Income Taxes (Details)
Net Income Per Share Attributable To Common Stockholders
Net Income Per Share Attributable To Common Stockholders (Tables)
Net Income Per Share Attributable To Common Stockholders - Antidilutive Securities (Details)
Net Income Per Share Attributable To Common Stockholders - Computation Of Basic And Diluted Earnings Per Share (Details)
Retirement Plans
Retirement Plans (Details)
Revenue And Geographic Information
Revenue And Geographic Information (Details)
Revenue And Geographic Information (Tables)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Additional Information (Details)
Stock-Based Compensation - Performance Stock Unit Activity (Details)
Stock-Based Compensation - Restricted Stock Unit Activity (Details)
Stock-Based Compensation - Stock Option Activity (Details)
Stock-Based Compensation - Stock-Based Compensation Expense (Details)
Stockholders' Equity
Stockholders' Equity (Details)
Summary Of Significant Accounting Policies
Ticker: SONO
CIK: 1314727
Form Type: 10-Q Quarterly Report
Accession Number: 0001314727-22-000010
Submitted to the SEC: Wed Feb 09 2022 6:09:57 PM EST
Accepted by the SEC: Thu Feb 10 2022
Period: Saturday, January 1, 2022
Industry: Household Audio And Video Equipment

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