Sonos Q1 revenue $664.5M (+3% YoY); raises FY2022 midpoint; new FY2024 target $2.5B

Sonos Inc

2022-Q1 EPS reported $0.87 revenue$664,481,000

GAAP diluted EPS $0.87 vs $1.01 YoY; non-GAAP diluted EPS $1.02 vs $1.17 YoY.
Gross margin 47.8% (+140 bps YoY); Adjusted EBITDA $163.1M, margin 24.6%.
FY2022 revenue guidance raised to $1.95-2.0B (14-16% growth); Adjusted EBITDA $290-325M.
Fiscal 2024 revenue target increased to ~$2.5B (13% CAGR) from prior $2.25B.
Chip shortages constrained supply; demand remains strong according to CEO.

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