Sonos Q1 FY2024 revenue down 8.9% to $612.9M; GAAP EPS $0.64, non-GAAP $0.84

Sonos Inc

2024-Q1 EPS reported $0.64 revenue$612,869,000

Revenue $612.9M, -8.9% YoY; constant-currency decline 10.5%.
GAAP net income $80.9M ($0.64 diluted EPS) vs $75.2M ($0.57) last year.
Non-GAAP net income $106.1M ($0.84 diluted EPS) vs $103.4M ($0.79).
Gross margin improved 374 bps to 46.1%; adjusted EBITDA margin 18.8%.
Free cash flow $269.3M; inventories down 50% QoQ to $173M; cash $467M.

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 0.95

Sonos Inc reported first fiscal quarter ended December 30, 2023 results: revenue $612.9 million, net income $80.9 million, EPS $0.64.

Period: first fiscal quarter ended December 30, 2023
Revenue: $612.9 million
Net income: $80.9 million
EPS: $0.64
Result: reported results

Exact text from the filing

Inc. (Nasdaq: SONO) today reported first quarter fiscal 2024 results. First Quarter Fiscal 2024 Financial Highlights (unaudited) ● Revenue decreased 8.9% year-over-year to $612.9 million; on a constant-currency basis, revenue decreased 10.5% year-over-year ● Gross margin increased 374 basis points year-over-year to 46.1% ● GAAP net income of $80.9 million

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Source: SEC EDGAR

accession 0000950170-24-011732

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