NASDAQ$SONO
Sonos Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Reported a decrease in revenue but an increase in gross margin, with a GAAP net loss and a non-GAAP net loss.
Sonos reported a decrease in revenue for the fourth quarter of 2023, but gross margin increased. The company experienced both GAAP and non-GAAP net losses during the quarter. While revenue decreased, the gross margin saw improvement, and the adjusted EBITDA turned positive compared to the previous year.
- Revenue decreased by 3.5% year-over-year to $305.1 million.
- Gross margin increased by 270 basis points year-over-year to 42.0%.
- GAAP net loss was $31.2 million, compared to $64.1 million last year.
- Non-GAAP net loss was $9.0 million, compared to $38.3 million last year.
Headline financials
Revenue & EPS history
Sonos · Revenue · Quarterly
$305M
Revenue by segment
Sonos · $305M total across 3 segments · Q4 2023
- Sonos speakers$223M-5.0%73.2%
- Sonos system products$62.3M-0.7%20.4%
- Partner products and other revenue$19.5M+5.9%6.4%
Forward guidance
Sonos provided its outlook for fiscal year 2024, projecting revenue between $1.60 billion and $1.70 billion, and adjusted EBITDA between $150 million and $180 million.
Tailwinds
- Revenue is expected to be between $1.60 billion and $1.70 billion.
- Projected gross margin (GAAP) between 45.0% and 46.0%.
- Non-GAAP gross margin is forecasted to be between 45.4% and 46.4%.
- Adjusted EBITDA is expected to range from $150 million to $180 million.
- Adjusted EBITDA margin is projected to be between 9.4% and 10.6%.
Headwinds
- Revenue growth is projected to be between -3% and 3% year-over-year.
- Constant currency revenue growth is also projected to be between -3% and 3% year-over-year.
- The outlook assumes continued challenging market conditions.
- Uncertainty regarding consumer spending patterns may impact results.
- Potential supply chain challenges could affect product availability.
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 2023
-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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