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Jan 02, 2021
Sonos Q1 2021 Earnings Report
Sonos reported record first quarter fiscal 2021 results, achieving record number of new and existing customers and raising fiscal 2021 outlook.
Key Takeaways
Sonos reported a strong first quarter with record revenue and earnings, driven by increased demand and successful product offerings. The company raised its fiscal year 2021 outlook, reflecting confidence in its business momentum and future product plans.
GAAP net income increased 87% year-over-year to $132.3 million.
GAAP diluted earnings per share (EPS) increased to $1.01 from $0.60 last year.
Revenue increased 15% year-over-year to $645.6 million.
Free cash flow increased 97% to $203.2 million compared to $102.9 million last year.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Sonos raised its fiscal year 2021 outlook.
Positive Outlook
- Adjusted EBITDA increased to a range of $195 million to $225 million representing growth in the range of 80% to 107% year-over-year.
- Adjusted EBITDA margin increased to a range of 13% to 14%, representing a 460 to 610 basis point improvement year-over-year.
- Gross margin increased to a range of 46.0% to 46.5%, representing a 288 to 338 basis point improvement year-over-year.
- Revenue increased to a range of $1.525 billion to $1.575 billion, representing growth in the range of 15% to 19% from fiscal 2020
- Outlook includes minimal impact from ongoing tariffs and does not include tariff refunds expected due to timing uncertainty.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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