NASDAQ$SONO
Sonos Inc · Q4 2020 earnings
Q4 2020 earnings · · Investor relations
Briefing
Reported record fourth quarter and fiscal year 2020 results, demonstrating the power and profitability of its business model.
Sonos reported record fourth quarter results with revenue increasing 16% year-over-year to $339.8 million. GAAP net income increased to $18.4 million, and GAAP diluted EPS increased to $0.15. The company reached an inflection point, demonstrating the power and profitability of its business model.
- GAAP net income increased to $18.4 million from ($29.6) million last year; non-GAAP net income increased to $40.7 million from ($16.6) million last year.
- GAAP diluted earnings per share (EPS) increased to $0.15 from ($0.28) last year; non-GAAP diluted earnings per share (EPS) increased to $0.33 from ($0.15) last year.
- Revenue increased 16% year-over-year to $339.8 million; excluding the impact of the 14th week, revenue increased approximately 7% year-over-year.
- Direct-to-consumer revenue increased 67% year-over-year.
Headline financials
Revenue & EPS history
Sonos · Revenue · Quarterly
$340M
Revenue by segment
Sonos · $340M total across 3 segments · Q4 2020
- Sonos speakers$255M—75.0%
- Sonos system products$67.9M—20.0%
- Partner products and other revenue$17.1M—5.0%
Forward guidance
Sonos anticipates revenue between $1.44 billion and $1.5 billion, representing growth in the range of 11% to 15% from fiscal 2020. They expect adjusted EBITDA in the range of $170 million to $205 million, and adjusted EBITDA margin in the range of 12% to 14%.
Tailwinds
- Revenue growth of 11% to 15% from fiscal 2020
- Adjusted EBITDA in the range of $170 million to $205 million
- Adjusted EBITDA margin in the range of 12% to 14%
- Gross margin improvement year-over-year
- Direct-to-consumer revenue as a percentage of total revenue similar to fiscal 2020
Headwinds
- Minimal impact from ongoing tariffs.
- No impact from the potential tariff refund.
- Uncertainty and challenges stemming from the COVID-19 pandemic.
- Changes in general economic or market conditions
- Ability to accurately forecast consumer demand
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 Q4 2020
-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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