SONOS Reports Total Revenue of $373.4 Million and Net Loss of $23.6 Million for Q3 FY2023
August 11, 2023
🌧️Earnings Overview
For the third quarter of its fiscal year 2023, SONOS ($NASDAQ:SONO) reported total revenue of USD 373.4 million and a net income of USD -23.6 million, ending June 30 2023. This is an increase of 0.4% in revenue from the same quarter of the previous year, whilst net income decreased to -23.6 million from -0.6 million year over year.
Stock Price
Despite this, the company reported a net loss of $23.6 million for the quarter. SONOS stock opened at $15.8 and closed at $15.6, down by 1.4% from the last closing price of 15.9. Despite the company’s efforts to improve revenue, the market was not impressed by the news and the stock price took a hit. Analysts are now anxious to see if SONOS can turn its business around and deliver consistent profits in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Sonos. SONOS_Reports_Total_Revenue_of_373.4_Million_and_Net_Loss_of_23.6_Million_for_Q3_FY2023″>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_Total_Revenue_of_373.4_Million_and_Net_Loss_of_23.6_Million_for_Q3_FY2023″>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_Total_Revenue_of_373.4_Million_and_Net_Loss_of_23.6_Million_for_Q3_FY2023″>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_Total_Revenue_of_373.4_Million_and_Net_Loss_of_23.6_Million_for_Q3_FY2023″>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% |
Analysis
At GoodWhale, we recently conducted an analysis of SONOS’s wellbeing. Based on our Risk Rating, we deem SONOS to be a high-risk investment when looking at both the financial and business aspects. Upon closer inspection, we have detected five risk warnings in the income sheet, balance sheet, cashflow statement, non-financial and financial journal. If you would like to learn more about the specifics of our analysis and our findings, we encourage you to register with us for more detailed information. We are confident that our insights can help you make a more informed decision when it comes to investing in SONOS. More…
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
Investors may find Sonos’ third quarter of fiscal year 2023 ending June 30, 2023 results concerning, as total revenue of USD 373.4 million represents a mere 0.4% year over year increase, and a net income of USD -23.6 million marks a significant decrease from -0.6 million year over year. This reflects a lack of growth in the company’s core business and an inability to turn profits in the current market. Investors may wish to consider these results carefully before deciding to invest in the company.
