Sonos Q2 FY2023 revenue down 23.9% to $304.2M; GAAP net loss $30.7M; board chair changes

Sonos Inc

2023-Q2 EPS reported $0.34 revenue$976,752,000

Revenue $304.2M, down 23.9% YoY; constant-currency decline 22.4%.
GAAP net loss of $(30.7)M ($(0.24) diluted EPS) vs. net income $8.6M ($0.06) last year.
Non-GAAP net income $5.7M ($0.04 diluted EPS); Adjusted EBITDA -$10.6M (3.5% margin).
Free cash flow -$121.7M; inventories $326.3M (finished goods $274.5M).
Julius Genachowski appointed Board Chairperson; Mike Volpi continues as independent director.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Sonos Inc reported second fiscal quarter ended April 1, 2023 results: revenue $304.2 million, net income $(30.7) million, EPS $(0.24).

Period: second fiscal quarter ended April 1, 2023
Revenue: $304.2 million
Net income: $(30.7) million
EPS: $(0.24)
Result: reported results

Exact text from the filing

- Sonos, Inc. (Nasdaq: SONO) today reported second quarter fiscal 2023 results. Second Quarter 2023 Financial Highlights (unaudited) ● Revenue decreased 23.9% year-over-year to $304.2 million; on a constant-currency basis, revenue decreased 22.4% year-over-year ● Gross margin decreased 150 basis points year-over-year to 43.3% ● GAAP net loss of $(30.7) million

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Source: SEC EDGAR

accession 0000950170-23-020517

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