Sonos Q4 revenue down 12% YoY; appoints CFO Lazarus; authorizes $100M buyback

Sonos Inc

2022-FY EPS reported $0.49 revenue$1,752,336,000

FY2022 revenue $1,752.3M (+2.1% YoY); GAAP EPS $0.49 vs $1.13; Non-GAAP EPS $1.20 vs $1.77.
Q4 revenue $316.3M (-12% YoY); GAAP net loss $64.1M ($0.50 loss per share); Non-GAAP net loss $40.4M ($0.32 loss per share).
FY2022 Adjusted EBITDA $226.5M (12.9% margin) vs $278.6M (16.2%); Q4 Adj. EBITDA loss $25.6M.
Appointed Eddie Lazarus as permanent CFO effective immediately; he remains Chief Legal Officer.
Board authorized $100M stock repurchase program; completed prior $150M program repurchasing 6.6M shares at avg $22.80.

item 2.02 item 5.02 item 7.01 item 9.01

Executive movements

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Appointed

Eddie Lazarus

Chief Financial Officer

SONO · Sonos Inc

Effective: 2022-11-15
Filed: November 16, 2022, 6:59 PM ET

On November 15, 2022, the Company appointed Eddie Lazarus, Interim Chief Financial Officer and Chief Legal Officer, as Chief Financial Officer of the Company, effective immediately.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Sonos Inc reported the fourth fiscal quarter ended October 1, 2022 results: revenue $316.3 million, net income $(64.1) million, EPS $(0.50).

Period: the fourth fiscal quarter ended October 1, 2022
Revenue: $316.3 million
Net income: $(64.1) million
EPS: $(0.50)
Result: reported results

Exact text from the filing

● Revenue decreased 12.0% year-over-year to $316.3 million; on a constant-currency basis, revenue decreased approximately 6.6% year-over-year ● Gross margin decreased 720 basis points year-over-year to 39.2% ● GAAP net (loss) of $(64.1) million compared to $(8.7) million last year ○ GAAP diluted (loss) per share of $(0.50) compared to $(0.07) last year

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Sonos Inc reported the fiscal year ended October 1, 2022 results: revenue $1,752.3 million, net income $67.4 million, EPS $0.49.

Period: the fiscal year ended October 1, 2022
Revenue: $1,752.3 million
Net income: $67.4 million
EPS: $0.49
Result: reported results

Exact text from the filing

● Revenue increased 2.1% year-over-year to $1,752.3 million; on a constant-currency basis, revenue increased approximately 4.9% year-over-year ● Gross margin decreased (180) basis points year-over-year to 45.4% ● GAAP net income of $67.4 million compared to $158.6 million last year ○ GAAP diluted earnings per share (EPS) of $0.49 compared to $1.13 last year

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

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

Action: appointed
Role: Chief Financial Officer

Exact text from the filing

On November 15, 2022, the Company appointed Eddie Lazarus, Interim Chief Financial Officer and Chief Legal Officer, as Chief Financial Officer of the Company, effective immediately.

View on SEC.gov

8 earnings releases filed in the last 30 days. Browse all earnings releases →

Sonos Inc filing history →

Source: SEC EDGAR

accession 0000950170-22-025310

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