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Why did Sonos Inc. (SONO) Stock perform well on Monday?

Sonos Inc. (SONO) shares gained 0.30% in after-hours on Monday, January 24, 2022, and closed the daily trading at $23.50. Even in the regular trading session on Monday, SONO’s stock gained 1.74%. The stock volume remained 4.04 million shares, which was higher than the average daily volume of 2.93 million shares within the past 50 days. SONO shares have fallen 15.08% over the last 12 months, and they have moved down 15.75% in the past week. Over the past three months, the stock has lost 26.78%, while over the past six months, it has declined 29.62%.


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Let’s have a look at its recent news and developments.

SONO upcoming financial results announcement

Sonos, Inc. (SONO) will report its financial results for the first quarter ended January 1, 2022, after market close on Wednesday, February 9, 2022.

What analysts are expecting for Q1 2022?

Sonos is expected to report earnings per share of $0.90, down 23.08% from the prior-year quarter. Zack is expecting quarterly revenue of $647.17 million, up 0.25% from the year-ago period.

For the full year, Zacks Consensus Estimates are projecting earnings of $1.29 per share and revenue of $1.95 billion, which would represent changes of -27.12% and +13.77%, respectively, from the prior year.

SONO new appointments

On December 08, 2021, Sonos (SONO) introduced two key new members of its leadership team. Shamayne Braman was appointed as its new Chief Diversity Equity and Inclusion Officer, and Rebecca Zavin ​​joined as Senior Vice President, Software.

SONO latest financial results

On November 17, 2021, Sonos, Inc. (SONO) reported the fourth quarter and fiscal 2021 results.

FY 2021 financial highlights

  • SONO reported total revenue of 717 billion for the fiscal year 2021 compared to $1.32 billion in FY 2020.
  • The total cost of revenue was $906.75 million in FY 2021 compared to $754.37 million in FY 2020.
  • In FY 2021, gross profit was 810 million compared to $571.9 million in FY 2020.
  • Total operating expenses were $655.03 million in FY 2021 compared to $599.2 million in FY 2020
  • It earned a net income of $158.6 million in FY 2021 compared to a net loss of $20.1 million in FY 2020.
  • GAAP diluted earnings per share were $1.13 compared to a loss per share of ($0.18) in FY 2020.
  • Adjusted EBITDA was $278.6 million in FY 2021 compared to $108.5 million in FY 2020.

Fiscal 2022 Outlook

For FY 2022, Sonos is expecting,

  • Revenue in the range of $1.925 billion to $2.0 billion.
  • Gross margin in the range of 46% to 47%.
  • Adjusted EBITDA in the range of $280 million to $325 million.

Conclusion

Well, as of this writing, there is no recent news or development to justify its gains on Monday. We hope that it will continue its positive momentum on Tuesday as well.

 

 

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