2023-05-10 16:14:59 ET
- Sonos press release ( NASDAQ: SONO ): Q2 Non-GAAP EPS of $0.04 beats by $0.03 .
- Revenue of $304.2M (-23.9% Y/Y) beats by $6.23M .
- Gross margin decreased 150 basis points year-over-year to 43.3%.
- Adjusted EBITDA of -$10.6 million compared to $46.9 million last year.
- Free cash flow of -$121.7 million. Cash flows used in operating activities of -$113.0 million.
- Outlook: Revenue in the range of $1.625 billion to $1.675 billion vs. consensus of $1.73B, representing a decline of 7% to 4% from fiscal 2022, or a decline of 5% to 2% on a constant currency basis. This compares to a prior outlook range of $1.7 billion to $1.8 billion, which represented a decline of 3% to growth 3% from fiscal 2022
- Gross margin in the range of 44.3% to 44.8%, compared to prior outlook range of 45.0% to 46.0%
- Adjusted EBITDA in the range of $138 million to $168 million, compared to prior outlook range of $145 million to $180 million
- Adjusted EBITDA margin of 8.5% to 10.0%, unchanged from prior outlook range
For further details see:
Sonos beats Q2 top and bottom line estimates; updates FY23 outlook