• CEPro_logo_blue-new
  • TOPICS
      • News
        • People & Places
        • Product Briefs
      • Projects
      • Events
      • Control
        • Central Vac
        • Energy/Power
        • HVAC/IAQ
        • Interfaces/Devices
        • Lighting
        • Motorized Shades
        • Whole House Systems
      • Audio/Video
        • Audio/Video
        • AV Accessories
        • AV Racks
        • Cabling
        • Displays
        • Furniture
        • Headphones
        • Home Theater
        • Media
        • Mounts/Lifts
        • Multiroom AV
        • Projectors/Screens
        • Speakers/Subwoofers
        • Wireless AV
      • Security
        • Access Control
        • Alarms/Sensors
        • Services/Platforms
        • Surveillance/Cameras
      • Business Support
        • Associations/Buying Groups
        • Cell Phone Boosters
        • Distributors/Reps
        • Operations
        • Recurring Revenue
        • Research
        • Sales/Marketing
        • Software Services
        • Tools/Testers
      • Networking
        • Cellular
        • Devices/Equipment
        • Wireless
        • Wired/Installation
      • Markets
        • Builders
        • Commercial
        • Design
        • Europe
        • Outdoors
        • Resimercial
        • Wellness
      • CE Pro Hub Pages
        • Bose
        • Savant
        • Inside Sound United
  • PRODUCTS
  • RESOURCES
    • Reports/Downloads
    • Buyer’s Guide
    • Webcasts
    • Podcasts
    • Integrator Jobs
    • Digital Edition
    • CE Pro-iQ
  • SUBSCRIBE
    • CEDIA SHOW UPDATES
    • CEPRO PRINT EDITION
    • CEPRO DIGITAL EDITION
    • CEPRO NEWSLETTERS
  • DISCOVER
    • CEDIA Expo
      • September 29 – October 1
        Dallas, TX
      • VISIT SITE
    • KBIS
      • February 8 – 10
        Orlando, FL
      • VISIT SITE
    • Total Tech Summit
      • October 26 – 28
        Orlando, FL
      • VISIT SITE
    • Commercial Integrator
      • VISIT SITE
    • Security Sales
      • VISIT SITE
    • Tech Decisions
      • VISIT SITE
    • Campus Safety
      • VISIT SITE
    • Design Well
      • VISIT SITE
    • KBB Online
      • VISIT SITE
    • AV-iQ
      • VISIT SITE
    • CE Pro-iQ
      • VISIT SITE
  • Search
  • TOPICS
    • News
      • People & Places
      • Product Briefs
    • Projects
    • Events
    • Control
      • Central Vac
      • Energy/Power
      • HVAC/IAQ
      • Interfaces/Devices
      • Lighting
      • Motorized Shades
      • Whole House Systems
    • Audio/Video
      • Audio/Video
      • AV Accessories
      • AV Racks
      • Cabling
      • Displays
      • Furniture
      • Headphones
      • Home Theater
      • Media
      • Mounts/Lifts
      • Multiroom AV
      • Projectors/Screens
      • Speakers/Subwoofers
      • Wireless AV
    • Security
      • Access Control
      • Alarms/Sensors
      • Services/Platforms
      • Surveillance/Cameras
    • Business Support
      • Associations/Buying Groups
      • Cell Phone Boosters
      • Distributors/Reps
      • Operations
      • Recurring Revenue
      • Research
      • Sales/Marketing
      • Software Services
      • Tools/Testers
    • Networking
      • Cellular
      • Devices/Equipment
      • Wireless
      • Wired/Installation
    • Markets
      • Builders
      • Commercial
      • Design
      • Europe
      • Outdoors
      • Resimercial
      • Wellness
    • CE Pro Hub Pages
      • Savant
      • Bose
      • Inside Sound United
  • PRODUCTS
  • RESOURCES
    • Reports/Downloads
    • Buyer’s Guide
    • Webcasts
    • Podcasts
    • Integrator Jobs
    • Digital Edition
    • CE Pro-IQ
  • SUBSCRIBE
    • CEPRO PRINT EDITION
    • CEPRO DIGITAL EDITION
    • CEPRO NEWSLETTERS
    • CEDIA SHOW UPDATES
  • DISCOVER
    • Cedia Expo
      VISIT SITE
    • Commercial Integrator
      VISIT SITE
    • Security Sales
      VISIT SITE
    • Tech Decisions
      VISIT SITE
    • Campus Safety
      VISIT SITE
    • Design Well
      VISIT SITE
    • Total Tech Summit
      VISIT SITE
    • KBB Online
      VISIT SITE
    • AV-iQ
    • CE Pro-iQ
M
POPULAR SEARCHES
News
Projects
Control
Audio Video
Security
Business Support
Markets
SUBSCRIBE CEDIA EXPO CEPro-iQ
Audio/Video | News | Speakers/Subwoofers | Wireless AV
February 11, 2021

Sonos Smashes Record Quarterly Revenues, Profits

Sonos reports Q1 revenues of $645.6 million, up 15%. Profits rise 78%. Lawsuits against Google progress, and manufacturing moves to Malaysia.
Jason Knott  
Article:
Audio/Video | News | Speakers/Subwoofers | Wireless AV
February 11, 2021

Sonos Smashes Record Quarterly Revenues, Profits

Another quarter… another record for Sonos (NASDAQ: SONO) in terms of both revenues and profits. The company reported $645.6 million in Q1 revenues, a 15% increase year over year. The quarter represented the company’s 16th consecutive quarter with revenue growth. Based on the strong sales numbers, Sonos upped its forecast for 2021 to between 17% and 21% growth versus its previous outlook of 11% to 15% growth.

CEO Patrick Spence specifically pointed to the strong direct-to-consumer sales by Sonos, particularly during the holiday time period.

“Thanks to our innovative products, our ability to expand gross margins and our continued operating expense leverage. This is a strong proof point to the profitability and sustainability of our model,” Spence told investors.

Meanwhile, profits also soared. The company delivered a record 25.8% adjusted EBITDA margin of $166 million. That is a 78% increase in profit from the same quarter last year ($93 million).

“This is our most profitable quarter ever,” says CFO Brittany Bagley.

CE Pro 2022 Product Guide

CE Pro's 2022 Product Guide showcases some of the latest and innovative solutions from manufacturers serving the custom electronics industry in a cross-section of categories.

Download the guide now!

Specifically, Sonos speaker revenue was up 13% year-over-year, driven in part by the continued success of Arc and Move. Meanwhile custom channel sales were also up an impressive 59%, according to Bagley.

Sonos Radio HD Bjork
Related: Sonos Radio HD Adds More Artist-Curated Stations

The company has also almost completed its transition of all its manufacturing to Malaysia but expects there could be some supply chain issues later in the year, specifically with the Arc, Amp and Move products.

Bagley reports that Sonos ended the first quarter with $678 million in cash, which puts us in a strong position to invest organically in its business, pursue M&A and return capital to shareholders through authorized share repurchases.

Eddie Lazarus, Chief Legal Officer at Sonos, also gave investors an update on two legal battles the company has ongoing against Google for alleged patent violations. One case involving five patent disputes is in the International Trade Commission with a pending trial date of February 22. Lazarus expects a preliminary decision out of the ITC in early May. A second case is in the Western District of Texas and it involves five completely different patents. And that case is expected to go to what’s called a Markman Hearing in July of this year where certain patent terms are defined. He says that case is scheduled for trial in June of 2022.

ABOUT THE AUTHOR

Jason Knott
Follow
Jason Knott:
Jason Knott is Chief Content Officer for Emerald's Connected Brands. Jason has covered low-voltage electronics as an editor since 1990, serving as editor and publisher of Security Sales & Integration. He joined CE Pro in 2000 and serves as Editor-in-Chief of that brand. He served as chairman of the Security Industry Association’s Education Committee from 2000-2004 and sat on the board of that association from 1998-2002. He is also a former board member of the Alarm Industry Research and Educational Foundation. He has been a member of the CEDIA Business Working Group since 2010. Jason graduated from the University of Southern California.
View Jason Knott's complete profile

ARTICLE TOPICS

Audio/Video • News • Speakers/Subwoofers • Wireless AV

ARTICLE TAGS

Google • Legal • Sonos • Wireless Audio

SHARE

Share On Facebook
Share On Twitter
Share On Linkedin
Share On Whatsapp
Share Via Email
Copy URL
← Previous Article Next Article →
Article Audio/VideoCommercialControlDesignEventsISELightingMarketsOutdoorsPress ReleasesProductsResimercialWellnessWhole-House Systems

KSCAPE RAIL Lighting/Audio Solution to Debut at ISE 2023

KSCAPE notes that its new model of RAIL integrates Casambi for the ultimate ‘plug-and-play’ light audio system solution.
Article Business SupportNewsSoftware/Services

Portal API Integrates with iPoint

Portal.io opens its API to other business management software solutions, and announces its first integration is with iPoint.
Article Audio/VideoCommercialControlDesignEventsISELightingMarketsOutdoorsPress ReleasesProductsResimercialWellnessWhole-House Systems

KSCAPE RAIL Lighting/Audio Solution to Debut at ISE 2023

KSCAPE notes that its new model of RAIL integrates Casambi for the ultimate ‘plug-and-play’ light audio system solution.
Article Audio/VideoDesignLightingMotorized ShadesProjectors/ScreensSpeakers/Subwoofers

Technology Has Become an Interior Design Statement All Its Own

From LED light fixtures to loudspeakers to shades, access control and keypads, to solutions used as ways to conceal technology, design was on everyone’s minds at the recent CEDIA Expo in Dallas.

SHOW NEWSLETTER

Sign Up

CE Pro

Subscribe Sign Up

Content Types

News
Products
Projects
Companies
Downloads
Webcasts
Podcasts
Events

Specials

IntegratorJobs
CEDIA EXPO
CE Pro 100
CE Pro Summit
Awards Programs

Company Info

About
Contact Us
Customer Service
Media Solutions & Advertising

Subscribe

Magazine
Newsletters
Digital Edition

Connect

Twitter
Facebook
LinkedIn
YouTube
RSS Feed

Categories

AUDIO/VIDEO
AV Accessories
AV Racks
Amplifiers/Receivers
Cabling
Displays
Furniture
Mounts/Lifts
Multiroom AV
Projector Screens
Speakers/Subwoofers
Wireless AV
CONTROL
Central Vac
Energy/Power
Interfaces/Devices
HVAC/IAQ
Lighting
Motorized Shades
Whole-House Systems
NETWORKING
Cellular
Devices/Equipment
Wireless
Wiring/Installation
SECURITY
Access Control
Alarms/Sensors
Services/Platforms
Surveillance Cameras
BUSINESS SUPPORT
Associations/Buying Groups
Distributors/Reps
Operations
Recurring Revenue
Research
Sales/Marketing
Software/Services
Tools/Testers
MARKETS
Builders
Commercial
Design
Europe
Outdoors
Wellness
FOLLOW US ON
  • Follow
  • Follow
  • Follow
  • Follow
  • Follow

© 2023 Emerald X, LLC. All Rights Reserved.

  • ABOUT
  • CAREERS
  • TERMS OF USE
  • PRIVACY POLICY