Sonos Inc SONO
Sonos is a leading audio company dedicated to elevating life through sound. Since pioneering multi-room wireless audio in 2005, Sonos has built a system that unites every dimension of sound - music, movies, stories and conversations - into one connected platform. The portfolio includes home theater speakers, components, plug-in and portable speakers, and headphones that compound in value with every room and device its customers add. Known for exceptional sound, thoughtful design, ease of use and seamless access to the world's audio content, Sonos is trusted by more than 17 million households in 60+ countries around the world.
Since we launched our first product 20 years ago, we have grown our install base by launching innovative new products, delivering a seamless customer experience, and expanding our global footprint. In fiscal 2025, existing customers accounted for approximately 45% of new product registrations. As of September 27, 2025, we had a total of nearly 53.4 million products registered in approximately 17.1 million households globally. Our customers have typically purchased additional Sonos products over time. As of September 27, 2025, 61% of our 17.1 million households had registered more than one Sonos product. As of September 27, 2025, our households owned 3.13 products on average.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.44B | $1.52B | $1.66B | $1.75B | $1.72B | $1.33B | $1.26B | $1.14B | $992.5M | $901.3M |
| Cost of revenue | $812.7M | $828.7M | $938.8M | $956.0M | $906.8M | $754.4M | $733.5M | $647.7M | $536.5M | $497.9M |
| Gross profit | $630.5M | $689.4M | $716.5M | $796.4M | $810.0M | $572.0M | $527.3M | $489.3M | $456.1M | $403.4M |
| R&D | $280.0M | $304.6M | $301.0M | $256.1M | $230.1M | $214.7M | $171.2M | $142.1M | $124.4M | $107.7M |
| SG&A | $119.8M | $142.3M | $168.5M | $170.4M | $152.8M | $121.0M | $102.9M | $85.2M | $77.1M | $68.5M |
| Total operating expenses | $681.0M | $737.4M | $737.0M | $706.8M | $655.0M | $599.2M | $521.6M | $498.2M | $471.7M | $434.3M |
| Operating income | -$50.5M | -$48.0M | -$20.5M | $89.5M | $155.0M | -$27.2M | $5.7M | -$8.9M | -$15.6M | -$30.9M |
| Interest expense | $465.0K | $441.0K | $733.0K | $552.0K | $592.0K | $1.5M | $2.5M | $5.2M | $4.4M | — |
| Pre-tax income | -$50.5M | -$27.2M | $4.4M | $68.7M | $156.9M | -$20.1M | -$1.1M | -$14.5M | -$16.5M | -$35.6M |
| Income tax | $10.6M | $11.0M | $14.7M | $1.3M | $1.7M | $32.0K | $3.7M | $1.1M | $2.3M | $2.6M |
| Net income | -$61.1M | -$38.1M | -$10.3M | $67.4M | $158.6M | -$20.1M | -$4.8M | -$15.6M | -$14.2M | -$38.2M |
| EPS, basic | -0.51 | -0.31 | -0.08 | 0.53 | 1.30 | -0.18 | -0.05 | — | — | — |
| EPS, diluted | -0.51 | -0.31 | -0.08 | 0.49 | 1.13 | -0.18 | -0.05 | -0.24 | -0.25 | -0.71 |
| Shares, diluted (wtd. avg.) | 120.8M | 123.2M | 127.7M | 137.8M | 140.3M | 109.8M | 103.8M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $174.7M | $169.7M | $220.2M | $274.9M | $640.1M | $407.3M | $338.8M | $221.1M | $130.8M | $75.1M |
| Receivables | $65.8M | $44.5M | $67.6M | $101.2M | $100.8M | $54.9M | $102.7M | $73.2M | $47.4M | $45.3M |
| Inventory | $171.0M | $231.5M | $346.5M | $454.3M | $185.1M | $180.8M | $219.8M | $193.2M | $113.9M | $53.6M |
| Total current assets | $504.0M | $551.1M | $659.6M | $867.4M | $957.5M | $660.4M | $679.1M | $497.6M | $301.5M | — |
| Property, plant and equipment | $72.3M | $102.1M | $87.1M | $86.2M | $71.3M | $60.8M | $78.1M | $85.4M | $95.1M | — |
| Goodwill | $82.9M | $82.9M | $80.4M | $77.3M | $15.5M | $15.5M | $1.0M | $1.0M | — | — |
| Other intangibles | $75.4M | $88.0M | $90.0M | $91.1M | $24.4M | $26.4M | $13.0K | — | — | — |
| Total assets | $823.3M | $916.3M | $1.00B | $1.19B | $1.14B | $816.1M | $761.6M | $587.5M | $400.0M | — |
| Accounts payable | $184.1M | $194.6M | $188.0M | $335.8M | $215.0M | $250.3M | $251.9M | $195.2M | $114.5M | — |
| Short-term debt | — | — | — | — | $0 | $6.7M | $8.3M | $6.7M | $0 | — |
| Total current liabilities | $352.4M | $366.2M | $354.2M | $535.6M | $476.1M | $393.0M | $402.5M | $296.4M | $223.3M | — |
| Long-term debt | — | — | — | — | $0 | $18.3M | $24.8M | $33.1M | $39.6M | — |
| Total liabilities | $468.1M | $487.7M | $483.6M | $627.9M | $569.8M | $518.2M | $480.7M | $379.1M | $309.7M | — |
| Retained earnings | -$112.1M | -$50.9M | -$12.8M | -$2.5M | -$69.9M | -$228.5M | -$208.4M | -$203.6M | -$188.0M | — |
| Total equity | $355.2M | $428.6M | $518.7M | $560.5M | $569.0M | $297.8M | $280.9M | $208.4M | $27.0K | -$28.8M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $136.9M | $189.9M | $100.4M | -$28.3M | $253.2M | $162.0M | $120.6M | $30.6M | $64.0M | $43.3M |
| Depreciation and amortisation | $62.3M | $52.4M | $49.0M | $38.5M | $33.9M | $36.4M | $36.4M | $39.4M | $35.0M | $34.3M |
| Stock-based compensation | $81.6M | $84.3M | $76.9M | $75.6M | $62.1M | $57.6M | $46.6M | $38.6M | $36.5M | $26.0M |
| Capital expenditure | $28.7M | $55.2M | $50.3M | $46.2M | $45.5M | $33.0M | $23.2M | $35.7M | $33.6M | $52.5M |
| Investing cash flow | -$29.5M | -$105.2M | -$50.3M | -$172.6M | -$45.5M | -$69.3M | -$23.2M | -$35.7M | -$33.6M | -$52.5M |
| Financing cash flow | -$102.3M | -$137.3M | -$108.6M | -$150.3M | $25.0M | -$27.1M | $21.9M | $94.4M | $24.0M | $8.0M |
| Buybacks | $81.0M | $129.0M | $100.1M | $150.1M | $50.0M | $50.0M | $2.4M | $911.0K | $10.0M | $145.0K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001314727-25-000090.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $901.3M | $992.5M | $1.14B | $1.26B | $1.33B | $1.72B | $1.75B | $1.66B | $1.52B | $1.44B |
| Gross profit | $403.4M | $456.1M | $489.3M | $527.3M | $572.0M | $810.0M | $796.4M | $716.5M | $689.4M | $630.5M |
| Net income | -$38.2M | -$14.2M | -$15.6M | -$4.8M | -$20.1M | $158.6M | $67.4M | -$10.3M | -$38.1M | -$61.1M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Results announced Item 2.02
- Officer or director change Item 5.02
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Officer or director change Item 5.02
- Regulation FD disclosure Item 7.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
Others in SIC 3651
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| KN | Knowles Corp | $2.75B | 64.3x | 7.2% |
| UEIC | UNIVERSAL ELECTRONICS INC | $67.5M | — | -6.7% |
| GNSS | Genasys Inc. | $67.2M | — | 69.8% |
| KOSS | KOSS CORP | $32.7M | — | 3.1% |
| MSN | EMERSON RADIO CORP | $6.9M | — | -41.5% |
| IMTE | Integrated Media Technology Ltd | — | — | 18.4% |
| SONY | Sony Group Corp | — | — | — |
| SYNX | Silynxcom Ltd. | — | — | — |