Sonos Q1 FY2023 revenue $672.6M (+1.2% YoY); GAAP EPS $0.57, Non-GAAP $0.79; maintains FY guidance

Sonos Inc

2023-Q1 EPS reported $0.57 revenue$672,579,000

Revenue $672.6M, up 1.2% YoY (constant-currency growth ~7%); gross margin 42.4%, down 540 bps.
GAAP net income $75.2M ($0.57 EPS) vs $123.5M ($0.87 EPS) a year ago.
Non-GAAP net income $103.4M ($0.79 EPS) vs $146.1M ($1.03 EPS); Adjusted EBITDA $123.9M (18.4% margin).
Free cash flow $167.6M; inventories $306.1M, down 33% from prior quarter (finished goods down 36%).
Fiscal 2023 outlook reaffirmed; management cites record Q1 revenue despite macroeconomic headwinds.

item 2.02 item 9.01

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 first quarter fiscal 2023 ended December 31, 2022 results: revenue $672.6 million, net income $75.2 million, EPS $0.57. Guidance reaffirmed.

Period: first quarter fiscal 2023 ended December 31, 2022
Revenue: $672.6 million
Net income: $75.2 million
EPS: $0.57
Guidance: reaffirmed
Result: reported results

Exact text from the filing

First Quarter 2023 Financial Highlights (unaudited) ● Revenue increased 1.2% year-over-year to $672.6 million; on a constant-currency basis, revenue increased approximately 7.0% year-over-year ● Gross margin decreased 540 basis points year-over-year to 42.4% ● GAAP net income of $75.2 million compared to $123.5 million last year ○ GAAP diluted earnings per share (EPS) of $0.57 compared to $0.87 last year

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Source: SEC EDGAR

accession 0000950170-23-002139

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