Sonos, Inc. is a leading audio company that specializes in the development and manufacturing of wireless sound systems and smart speakers
The company is recognized for its innovative approach to home audio, providing a seamless listening experience that integrates music streaming and home entertainment. Sonos products are designed for ease of use and high-quality sound, enabling customers to create customized audio environments throughout their homes. Additionally, Sonos emphasizes compatibility with various music services and smart home technology, making it a popular choice for tech-savvy consumers seeking enhanced audio experiences.
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Sonos reported mixed first-quarter fiscal 2025 results, with revenue and earnings per share beating expectations despite revenue falling year over year.
Audio technology Sonos company (NASDAQSONO) announced better-than-expected revenue in Q4 CY2024, but sales fell by 10.1% year on year to $550.9 million. Its non-GAAP profit of $0.64 per share was significantly above analysts’ consensus estimates.
Sonos announces a 12% workforce reduction as part of its restructuring plan aimed at improving operational efficiency. The company estimates restructuring costs of $15 million to $18 million.
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Sonos on Monday announced that Patrick Spence will step down from his role as CEO and as a member of Sonos' board. Tom Conrad has been appointed as interim CEO while the board conducts a search for its next CEO.
Since June 2024, Sonos has been in a holding pattern, posting a small return of 2.1% while floating around $14.81. The stock also fell short of the S&P 500’s 9.9% gain during that period.
