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SONO

Sonos, Inc.

SONO

Sonos, Inc. • NASDAQ
$18.55 ▼ -0.43% (-0.08)
Market Cap $2.24 B
52w High $18.86
52w Low $7.63
Dividend Yield 0%
P/E -36.37
Volume 536.38K
Outstanding Shares 120.88M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q4-2025 $287.9M ▼ $160.2M ▲ $-37.858M ▼ -13.15% ▼ $-0.31 ▼ $-17.939M ▼
Q3-2025 $344.764M ▲ $152.653M ▼ $-3.379M ▲ -0.98% ▲ $-0.028 ▲ $15.183M ▲
Q2-2025 $259.756M ▼ $174.833M ▼ $-70.144M ▼ -27.004% ▼ $-0.58 ▼ $-43.891M ▼
Q1-2025 $550.857M ▲ $193.313M ▲ $50.237M ▲ 9.12% ▲ $0.41 ▲ $61.536M ▲
Q4-2024 $255.38M $172.386M $-53.093M -20.79% $-0.43 $-44.954M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2025 $227.526M ▼ $823.278M ▼ $468.053M ▲ $355.225M ▼
Q3-2025 $253.954M ▲ $834.402M ▲ $435.096M ▲ $399.306M ▲
Q2-2025 $223.507M ▼ $792.178M ▼ $409.319M ▼ $382.859M ▼
Q1-2025 $327.857M ▲ $963.605M ▲ $494.478M ▲ $469.127M ▲
Q4-2024 $221.158M $916.312M $487.692M $428.62M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q4-2025 $-37.858M ▼ $2.921M ▼ $-5.353M ▲ $-23.639M ▼ $-26.605M ▼ $-2.337M ▼
Q3-2025 $-3.379M ▲ $37.441M ▲ $-7.005M ▲ $-4.509M ▲ $28.115M ▲ $32.685M ▲
Q2-2025 $-70.144M ▼ $-59.666M ▼ $-7.828M ▲ $-40.396M ▼ $-106.797M ▼ $-65.222M ▼
Q1-2025 $50.237M ▲ $156.173M ▲ $-9.334M ▲ $-33.798M ▼ $110.223M ▲ $143.067M ▲
Q4-2024 $-53.093M $-37.734M $-17.089M $-4.125M $-57.382M $-53.504M

Revenue by Products

Product Q1-2025Q2-2025Q3-2025Q4-2025
Partner Products And Other Revenue
Partner Products And Other Revenue
 $20.00M ▲$10.00M ▼$20.00M ▲$20.00M ▲
Sonos Speakers
Sonos Speakers
 $470.00M ▲$190.00M ▼$250.00M ▲$210.00M ▼
Sonos System Products
Sonos System Products
 $60.00M ▲$50.00M ▼$70.00M ▲$70.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has slipped from its earlier peak and has been drifting down in recent years, suggesting growth has stalled for now. Profitability has weakened: the company moved from healthy operating profits to small operating and net losses, even though gross margins remain solid. This points to pressure from higher costs, discounting, or heavier spending on marketing and development. Overall, the core product economics still look decent, but the scale of the business is not currently large enough or efficient enough to support consistent profits.

Balance Sheet

Balance Sheet The balance sheet looks relatively conservative. The company carries very little debt and maintains a meaningful cash cushion, although cash is notably lower than a few years ago. Total assets and shareholders’ equity have come down from prior highs, reflecting recent losses and some balance-sheet tightening. In simple terms, financial risk from leverage appears low, but the cushion is thinner than it used to be, so a prolonged downturn would matter more now than before.

Cash Flow

Cash Flow Cash generation has been lumpy but generally positive. Operating cash flow has swung around, including a soft patch, yet has returned to positive territory, and free cash flow has been modestly positive in most recent years. Investment spending on capital assets is relatively small and stable, which helps support free cash flow even when profits are under pressure. This pattern suggests a business that can usually fund itself, but not one currently throwing off large excess cash.

Competitive Edge

Competitive Edge Sonos occupies a well-defined niche in premium home audio, with strong brand recognition and a loyal customer base that often adds more devices over time. Its ecosystem effect, broad support for many streaming services and voice assistants, and a sizable patent portfolio give it meaningful competitive defenses. At the same time, it competes head‑to‑head with very large tech platforms and established audio brands, which can pressure pricing and limit mass‑market share. The franchise looks durable within its niche, but it is not immune to aggressive moves by much larger rivals.

Innovation and R&D

Innovation and R&D The company has a long track record of genuine product innovation, from multi‑room wireless audio to room‑tuning software and a polished control app. Recent moves into soundbars, headphones, and commercial products show it is still expanding the ecosystem rather than relying on a single category. Strategically, management is shifting emphasis away from frequent hardware launches toward software, reliability, and AI‑driven experiences that deepen engagement with existing customers. The pause in new consumer hardware launches creates execution risk in the near term, but also signals a focus on improving the overall experience and extracting more value from the installed base.

Summary

Sonos combines a respected premium brand and defensible ecosystem with currently soft growth and thin profitability. The business has moved from solid profits to small losses, but still maintains decent margins and a cautious balance sheet with low debt and generally positive cash flow. Competitive strengths lie in the user experience, ecosystem, and patents, while key risks include intense competition from tech giants, reliance on discretionary consumer spending, and execution on its software‑first, AI‑oriented strategy. The next phase for the company will likely hinge on whether it can reignite growth and restore consistent profitability by better monetizing its installed base and delivering more reliable, differentiated software experiences.

NEWS

November 24, 2025 · 9:00 AM UTC

Sonos, Named One of America's Greenest Companies by Newsweek, Advances Sustainability Goals and Announces Campaign to Create World's First Underwater Sound Sanctuaries

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November 5, 2025 · 8:01 AM UTC

Sonos Reports Fourth Quarter and Fiscal 2025 Results

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October 15, 2025 · 4:01 PM UTC

Sonos Announces Date for Fourth Quarter and Fiscal 2025 Financial Results and Conference Call

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