Sonos Reports Mixed Q4, FY24 Results: EPS Miss, Revenues Beat

by Erica Kollmann Benzinga Staff Writer

Zinger Key Points

Sonos reports quarterly GAAP losses of 44 cents per share, which missed the analyst consensus estimate for losses of 38 cents.
Quarterly revenue comes in at $255.4 million, which beat the analyst consensus estimate of $249.49 million.
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Sonos, Inc. SONO reported its fourth-quarter results after Wednesday's closing bell. Here's a look at the key figures from the quarter.

The Details: Sonos reported quarterly GAAP losses of 44 cents per share, which missed the analyst consensus estimate for losses of 38 cents. Quarterly revenue came in at $255.4 million, which beat the analyst consensus estimate of $249.49 million. The company reported GAAP gross margin of 40.3% for the quarter.

Sonos reported fiscal year 2024 GAAP losses of 31 cents per share, which missed the analyst consensus estimate for losses of 27 cents. Fiscal year revenue of $1.518 billion beat the analyst consensus estimate of $1.513 billion. The company reported GAAP gross margin of 45.4% for the year.

“Thanks to our team going all-in on our app recovery efforts, we made significant progress in bringing the quality of our software to a level that we’re all proud of, which enabled us to launch our highly anticipated new products, Arc Ultra and Sub 4, in time for the holidays,” Sonos CEO Patrick Spence commented.

“Initial feedback on our new products has been very positive, which, along with the introduction of Ace earlier this year, makes our product lineup the strongest it’s ever been. Sonos is still the best home audio system, and we’re focused on using this industry-leading product lineup to acquire more customers and solidify our loyal customer base,” Spence added.

SONO Price Action: According to Benzinga Pro, Sonos shares are up 0.50% after-hours at $14.15 at the time of publication Wednesday.

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