- Sonos press release ( NASDAQ: SONO ): Q1 Non-GAAP EPS of $0.79 beats by $0.20 .
- Revenue of $672.58M (+1.2% Y/Y) beats by $92.28M .
- Gross margin decreased 540 basis points year-over-year to 42.4%.
- Adjusted EBITDA of $123.9 million compared to $163.1 million last year
- Adjusted EBITDA margin of 18.4% compared to 24.6% last year
- Free cash flow of $167.6 million. Cash flows from operating activities of $182.3 million
- Inventories of $306.1 million, down 33% from last quarter
- Finished goods of $261 million, down 36% from last quarter.
- Unchanged 2023 Outlook: Revenue in the range of $1.7 billion to $1.8 billion, representing a decline of -3% to growth of 3% from fiscal 2022, or growth of 1% to 7% on a constant currency basis
- Gross margin in the range of 45.0% to 46.0%
- Adjusted EBITDA in the range of $145 million to $180 million, representing a decline of 36% to 21% from fiscal 2022
- Adjusted EBITDA margin of 8.5% to 10.0%
- Shares +7.89% .
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Sonos Non-GAAP EPS of $0.79 beats by $0.20, revenue of $672.58M beats by $92.28M