Sonos, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended March 30, 2024
May 08, 2024 at 01:35 am IST
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Sonos, Inc. reported earnings results for the second quarter and six months ended March 30, 2024. For the second quarter, the company reported sales was USD 252.66 million compared to USD 304.17 million a year ago. Net loss was USD 69.71 million compared to USD 30.65 million a year ago. Basic loss per share from continuing operations was USD 0.56 compared to USD 0.24 a year ago. Diluted loss per share from continuing operations was USD 0.56 compared to USD 0.24 a year ago.
For the six months, sales was USD 865.53 million compared to USD 976.75 million a year ago. Net income was USD 11.24 million compared to USD 44.54 million a year ago. Basic earnings per share from continuing operations was USD 0.09 compared to USD 0.35 a year ago. Diluted earnings per share from continuing operations was USD 0.09 compared to USD 0.34 a year ago.
Sonos, Inc. designs, develops, manufactures and sells audio products and services. The Company has developed multi-room, wireless audio products. Its platform has a broad range of more than 130 streaming content providers, such as Apple Music, Spotify and Pandora. The Company outsources the manufacturing of its speakers and components to contract manufacturers, who produce its products based on its design specifications. Its product categories include speakers, portable speakers, home theater, sets, architectural, audio components and accessories. The Company's products include Arc, Beam (Gen 2), Ray, Era 100, Era 300, Roam, Move 2, Sub (Gen 3), Sub Mini, Five and Amp. Its partner products include Sonos Pro, Audi Partnership, Sonos Radio HD, Sonos Radio, Sonos Architectural by Sonance, IKEA module units and accessories. Its Move 2 product is a portable, battery-powered smart speaker that delivers spacious stereo sound, with water-resistant design for outdoor and indoor listening.
SONOS, INC. 
