SONOS Reports 0.4% Increase in Total Revenue for Q3 2023
August 24, 2023
☀️Earnings Overview
SONOS ($NASDAQ:SONO) declared total revenue of USD 373.4 million for Q3 of 2023, which ended on June 30, representing a 0.4% increase compared to the same period in the prior year. Net income was reported to be -USD 23.6 million, contrasting to a loss of -USD 0.6 million in Q3 of 2022. This financial report was released on August 9, 2023.
Analysis
GoodWhale has conducted an analysis of SONOS’s financials and has given its assessment of the risk posed to investors. According to GoodWhale’s Risk Rating, SONOS is a high risk investment when considering its financial and business aspects. GoodWhale has identified five key risks in the income statement, balance sheet, cash flow statement, non-financial, and financial journal. These risks affect the financial stability of the company and could have a negative impact on the investor’s return. In order to access this information, it is necessary to become a registered user. Therefore, anyone intending to invest in SONOS should do their due diligence and pay close attention to any risk warnings identified by GoodWhale. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Sonos. SONOS_Reports_0.4_Increase_in_Total_Revenue_for_Q3_2023″>More…
| Total Revenues | Net Income | Net Margin |
| 1.67k | -43.1 | -2.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Sonos. SONOS_Reports_0.4_Increase_in_Total_Revenue_for_Q3_2023″>More…
| Operations | Investing | Financing |
| -25.71 | -61.35 | -85.02 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Sonos. SONOS_Reports_0.4_Increase_in_Total_Revenue_for_Q3_2023″>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.07k | 475.01 | 4.6 |
Key Ratios Snapshot
Some of the financial key ratios for Sonos are shown below. SONOS_Reports_0.4_Increase_in_Total_Revenue_for_Q3_2023″>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 9.2% | 150.5% | -1.8% |
| FCF Margin | ROE | ROA |
| -5.2% | -3.1% | -1.8% |
Peers
Sonos Inc, a California-based company that manufactures and sells wireless speakers, is locked in competition with several other companies, including Basler AG, Bang & Olufsen A/S, and GoPro Inc.
– Basler AG ($LTS:0DUI)
Basler AG is a leading international provider of high-quality imaging products. The company has a strong focus on the development and production of digital cameras for industrial and video surveillance applications, as well as medical devices. Basler AG is headquartered in Ahrensburg, Germany.
– Bang & Olufsen A/S ($OTCPK:BGOUF)
Bang & Olufsen A/S is a Danish company that designs and manufactures audio products and television sets. The company has a market capitalization of 145.79 million as of 2022 and a return on equity of -4.5%. The company was founded in 1925 by Peter Bang and Svend Olufsen, and it is headquartered in Struer, Denmark. The company’s products are available in more than 100 countries worldwide.
– GoPro Inc ($NASDAQ:GPRO)
GoPro Inc is a technology company that manufactures and sells action cameras and related accessories. The company has a market capitalization of 853.43M as of 2022 and a return on equity of 12.37%. GoPro’s products are designed for use in extreme action sports and activities, such as surfing, snowboarding, and mountain biking. The company’s flagship product, the GoPro Hero line of action cameras, is one of the best-selling cameras in the world. GoPro also offers a range of accessories, including mounts, cases, and batteries.
Summary
SONOS reported its third quarter earnings for fiscal year 2023 on August 9, showing total revenue of USD 373.4 million, a 0.4% increase from last year. Net income was USD -23.6 million, versus -0.6 million in FY2022 Q3. Despite this revenue increase, the company reported a net loss for the period. Investors may need to further investigate the reasons behind this loss as well as the company’s outlook for future quarters before making any decisions on investing in SONOS.
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