Loading...
•
Jan 01, 2022
Sonos Q1 2022 Earnings Report
Sonos' first quarter of fiscal year 2022 resulted in revenue increase and strong adjusted EBITDA margin.
Key Takeaways
Sonos reported a 3% year-over-year increase in revenue to $664.5 million. The company's adjusted EBITDA margin was strong at 24.6%. Despite chip shortages that constrained supply, Sonos increased the midpoint of its fiscal 2022 guidance.
Revenue increased 3% year-over-year to $664.5 million.
Gross margin increased 140 basis points to 47.8%.
GAAP diluted earnings per share (EPS) was $0.87 compared to $1.01 last year.
Free cash flow was $173.6 million.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Sonos expects revenue in the range of $1.95 billion to $2.0 billion, gross margin in the range of 46% to 47%, and adjusted EBITDA in the range of $290 million to $325 million for fiscal year 2022.
Positive 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%.
- 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%
- Company is well-positioned to deliver on its fiscal 2022 outlook.
Challenges Ahead
- The duration and impact of the COVID-19 pandemic and related mitigation efforts on the industry and supply chain.
- Supply chain challenges, including shipping and logistics challenges and significant limits on component supplies.
- Changes in general economic or market conditions that could affect consumer income and overall consumer spending.
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
Loading earnings performance data...
Loading earnings reaction data...