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Oct 01, 2022
Sonos Q4 2022 Earnings Report
Reported decrease in revenue and a net loss for the fourth quarter of 2022.
Key Takeaways
Sonos reported a decrease in revenue by 12.0% year-over-year to $316.3 million and a GAAP net loss of $(64.1) million for the fourth quarter of 2022. The company saw trends stabilize in Q4 and is heading into the holidays with a good early response to its latest product, Sub Mini, and its healthiest in-stock inventory position in three years.
Revenue decreased 12.0% year-over-year to $316.3 million.
GAAP net loss was $(64.1) million compared to $(8.7) million last year.
Non-GAAP net loss was $(40.4) million compared to non-GAAP net income of $11.8 million last year.
Free cash flow was $(125.2) million.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Sonos expects revenue in the range of $1.7 billion to $1.8 billion, representing a decline of -3% to growth of 3% from fiscal 2022, or growth of 1% to 7% on a constant currency basis. Gross margin is expected to be in the range of 45.0% to 46.0%. Adjusted EBITDA is expected to be in the range of $145 million to $180 million, representing a decline of 36% to 21% from fiscal 2022. Adjusted EBITDA margin is expected to be 8.5% to 10.0%.
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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