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Oct 02, 2021
Sonos Q4 2021 Earnings Report
Sonos reported fourth quarter results, with revenue increasing 6% year-over-year despite supply constraints, but GAAP net loss was reported.
Key Takeaways
Sonos reported a 6% increase in revenue for Q4 2021, reaching $359.5 million. However, the company experienced a GAAP net loss of $8.7 million, a decrease compared to the net income of $18.4 million in the same quarter last year. The company achieved record revenue and adjusted EBITDA for the full fiscal year 2021.
Revenue increased 6% year-over-year to $359.5 million.
GAAP net loss of $8.7 million compared to net income of $18.4 million last year.
Non-GAAP net income was $11.8 million, compared to $40.7 million last year.
Company expects to deliver strong fiscal year 2022.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Sonos anticipates another strong year in fiscal 2022, expecting revenue growth of 16% and adjusted EBITDA growth of 17% at the high end of their outlook, despite ongoing supply constraints.
Positive Outlook
- Revenue in the range of $1.925 billion to $2.0 billion, representing growth in the range of 12% to 16% from fiscal 2021
- Gross margin in the range of 46% to 47%.
- Adjusted EBITDA in the range of $280 million to $325 million, representing growth in the range of 1% to 17%.
- Adjusted EBITDA margin in the range of 14.5% to 16.2%.
- Demand for products remains stronger than ever.
Challenges Ahead
- Continued industry-wide supply constraints.
- COVID-19 pandemic and related mitigation efforts on our industry and our supply chain.
- Shipping and logistics challenges and significant limits on component supplies.
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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