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Dec 28, 2024
Sonos Q1 2025 Earnings Report
Sonos reported its First Quarter Fiscal 2025 results, with revenue near the high-end of its guidance range and an announced reduction in force.
Key Takeaways
Sonos reported a revenue of $551 million for the first quarter of fiscal 2025, with a GAAP net income of $50.2 million and diluted EPS of $0.40. The company also announced a reorganization and reduction in force affecting approximately 12% of its employees.
Revenue for Q1 Fiscal 2025 was $551 million, near the high-end of the guidance range.
GAAP net income was $50.2 million, with GAAP diluted earnings per share of $0.40.
Non-GAAP net income was $79.2 million, and Non-GAAP diluted EPS was $0.64.
The company implemented a reorganization and reduction in force, impacting approximately 12% of its employees, expecting to incur $15 to $18 million in related charges.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company will provide guidance on its First Quarter Fiscal 2025 earnings call.
Positive Outlook
- Commitment to execution in a difficult environment.
- Progress in transformation journey for future setup.
- Focus on improving core customer experience.
- Designing next set of Sonos products and innovations.
- Talented Sonos team driving efforts.
Challenges Ahead
- Difficult operating environment acknowledged.
- Significant organizational changes with 12% employee reduction.
- Expected restructuring and related charges of $15-$18 million.
- Substantially all restructuring charges to be incurred in Q2 Fiscal 2025.
- No specific financial guidance provided in the press release.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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