Sonos Q3 revenue $371.8M (-1.8% YoY), net loss $0.6M; FY22 revenue guidance cut to $1.73-1.755B; CFO Bagley resigns

Sonos Inc

2022-Q3 EPS reported $0.94 revenue$1,436,046,000

GAAP net loss of $0.6M vs net income $17.8M last year; GAAP diluted EPS $0.00 vs $0.12.
Non-GAAP diluted EPS $0.19 vs $0.27; Adjusted EBITDA $42.1M vs $46.7M; free cash flow -$16.0M.
FY22 revenue guidance slashed to $1.73B-$1.755B from $1.95B-$2.0B; EBITDA guidance cut to $215M-$230M from $290M-$310M.
CFO Brittany Bagley resigns effective Sept 1, 2022; CLO Eddie Lazarus appointed interim CFO.
FY2024 revenue target of $2.5B and EBITDA margin 15-18% timeline extended beyond FY2024 due to macro uncertainty.

item 2.02 item 5.02 item 9.01

Executive movements

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Appointed (interim)

Eddie Lazarus

Interim Chief Financial Officer

SONO · Sonos Inc

Effective: 2022-09-01
Filed: August 10, 2022, 7:59 PM ET

On August 9, 2022, the Company appointed Eddie Lazarus, Chief Legal Officer of the Company, as Interim Chief Financial Officer, effective September 1, 2022.

Departed

Brittany Bagley

Chief Financial Officer

SONO · Sonos Inc

Effective: 2022-09-01
Successor: Eddie Lazarus
Filed: August 10, 2022, 7:59 PM ET

On August 5, 2022, Brittany Bagley notified the Company that she is resigning as Chief Financial Officer of the Company, effective as of September 1, 2022, to pursue another professional opportunity.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 1.0

Eddie Lazarus was appointed as Interim Chief Financial Officer at Sonos Inc.

Action: appointed
Role: Interim Chief Financial Officer

Exact text from the filing

On August 9, 2022, the Company appointed Eddie Lazarus, Chief Legal Officer of the Company, as Interim Chief Financial Officer, effective September 1, 2022.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 1.0

Brittany Bagley resigned as Chief Financial Officer at Sonos Inc.

Action: resigned
Role: Chief Financial Officer

Exact text from the filing

On August 5, 2022, Brittany Bagley notified the Company that she is resigning as Chief Financial Officer of the Company, effective as of September 1, 2022, to pursue another professional opportunity.

View on SEC.gov

Sonos Inc filing history →

Source: SEC EDGAR

accession 0000950170-22-016477

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