NASDAQ$SONO
Sonos Inc · Q3 2021 earnings
Q3 2021 earnings · · Investor relations
Briefing
Sonos achieved record results driven by strong demand and successful execution.
Sonos reported record third quarter fiscal 2021 results with revenue increasing 52% year-over-year to $378.7 million. GAAP net income increased to $17.8 million, and GAAP diluted earnings per share increased to $0.12. The company raised its fiscal year 2021 outlook based on strong demand and profitability.
- Revenue increased 52% year-over-year to $378.7 million.
- GAAP net income increased to $17.8 million from ($57.0) million last year.
- GAAP diluted earnings per share (EPS) increased to $0.12 from ($0.52) last year.
- Gross margin increased 300 basis points to 47.0% from 44.0% last year.
Headline financials
Revenue & EPS history
Sonos · Revenue · Quarterly
$379M
Revenue by segment
Sonos · $379M total across 3 segments · Q3 2021
- Sonos speakers$310M—81.9%
- Sonos system products$47.6M—12.6%
- Partner products and other revenue$20.8M—5.5%
Forward guidance
Sonos raised its fiscal year 2021 outlook. Revenue is now expected to be in the range of $1.695 billion to $1.710 billion, representing growth of 28% to 29% year-over-year. Adjusted EBITDA is expected to be in the range of $270 million to $280 million, representing growth of 149% to 158%.
Tailwinds
- Revenue increased to a range of $1.695 billion to $1.710 billion, representing growth in the range of 28% to 29% year-over-year.
- Adjusted EBITDA increased to a range of $270 million to $280 million representing growth in the range of 149% to 158%.
- Adjusted EBITDA margin increased to a range of 15.9% to 16.4%, representing a 770 to 820 basis point improvement year-over-year.
- Gross margin increased to a range of 46.5% to 46.9%, representing a 340 to 380 basis point improvement year-over-year.
- Fiscal 2021 gross margin outlook includes tariff refunds of $11 million and tariff expense of $9 million recognized through the third quarter fiscal 2021.
Headwinds
- The duration and impact of the COVID- 19 pandemic and related mitigation efforts on our industry and our supply chain.
- Supply chain challenges, including shipping and logistics challenges and significant limits on component supplies.
- Changes in general economic or market conditions that could affect consumer income and overall consumer spending.
- Our ability to successfully introduce new products and services and maintain or expand the success of our existing products.
- Our ability to meet and accurately forecast product demand and manage any product availability delays.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2021
-0.5%
Avg return
Earnings day
-0.4%
Avg return
5 days after
-3.5%
Avg return
30 days after
51%
19 / 37 earnings
Positive
+29.5%
Q4 2020
Best reaction
-25.9%
Q2 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | +1.0% | +1.3% | +9.3% | |
| Q1 2026 | +6.4% | +16.7% | -2.5% | |
| Q4 2025 | +1.5% | +1.5% | +16.7% | |
| Q2 2025 | +9.7% | +25.3% | +11.9% | |
| Q1 2025 | -7.5% | -12.5% | -14.1% | |
| Q4 2024 | -2.2% | -10.2% | +3.6% | |
| Q3 2024 | -5.4% | -8.4% | -6.9% | |
| Q2 2024 | -5.8% | -7.0% | -11.2% | |
| Q1 2024 | +21.8% | +15.6% | +20.2% | |
| Q4 2023 | +18.0% | +27.2% | +51.1% | |
| Q3 2023 | -7.8% | -11.8% | -16.1% | |
| Q2 2023 | -25.9% | -28.7% | -27.5% | |
| Q1 2023 | +11.9% | +14.2% | +3.0% | |
| Q4 2022 | -2.5% | -3.7% | -1.5% | |
| Q3 2022 | -22.3% | -22.2% | -27.1% | |
| Q2 2022 | +4.4% | +4.5% | +2.0% | |
| Q1 2022 | +4.7% | +2.7% | -9.7% | |
| Q4 2021 | -4.3% | -6.8% | -14.0% | |
| Q3 2021 | +6.2% | +13.4% | +5.0% | |
| Q2 2021 | -3.0% | -2.9% | +1.3% | |
| Q1 2021 | +13.1% | +10.1% | +28.9% | |
| Q4 2020 | +29.5% | +25.1% | +42.0% | |
| Q3 2020 | -13.6% | -16.5% | -20.7% | |
| Q2 2020 | -1.3% | +0.6% | +14.0% | |
| Q1 2020 | +8.0% | -5.7% | -28.2% | |
| Q4 2019 | -2.0% | +6.5% | +2.2% | |
| Q3 2019 | +8.8% | +18.8% | +48.0% | |
| Q2 2019 | +4.0% | +1.8% | +3.3% | |
| Q1 2018 | -13.5% | -9.3% | -19.3% | |
| Q1 2019 | -17.1% | -16.5% | -24.2% | |
| Q2 2018 | +4.5% | +7.5% | -15.6% | |
| Q2 2017 | +4.5% | +7.5% | -15.6% | |
| Q1 2016 | +4.5% | +7.5% | -15.6% | |
| Q4 2018 | +10.8% | -4.4% | -18.2% | |
| Q3 2018 | -19.2% | -21.6% | -38.0% | |
| Q3 2017 | -19.2% | -21.6% | -38.0% | |
| Q4 2017 | -19.2% | -11.2% | -28.8% |
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