Sonos Inc. Files 10-Q for Period Ending December 30, 2023

TL;DR

<b>Sonos Inc. filed its quarterly report (10-Q) for the period ending December 30, 2023, detailing financial information and commitments.</b>

AI Summary

Sonos Inc (SONO) filed a Quarterly Report (10-Q) with the SEC on February 7, 2024. Sonos Inc. filed a 10-Q report for the period ending December 30, 2023. The filing includes data related to various financial statement items and commitments. Key dates mentioned include September 30, 2023, and December 31, 2022, for comparative financial data. The company's business address is 614 Chapala Street, Santa Barbara, CA 93101. The filing references US GAAP standards for financial reporting.

Why It Matters

For investors and stakeholders tracking Sonos Inc, this filing contains several important signals. This 10-Q filing provides investors with the latest financial performance and position of Sonos Inc. as of late 2023. The detailed financial data and disclosures within the report are crucial for understanding the company's operational health and future outlook.

Risk Assessment

Risk Level: low — Sonos Inc shows low risk based on this filing. The filing is a standard 10-Q, providing routine financial disclosures without immediate indicators of significant new risks or positive/negative events.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-Q to assess Sonos Inc.'s current financial health and operational performance.

Key Numbers

• 20231230 — Period End Date (Conformed period of report)
• 20240207 — Filing Date (Filed as of date)
• 3651 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• Sonos Inc. (company) — Filer name
• 0000950170-24-011840 (other) — Accession number
• 20231230 (date) — Conformed period of report
• 20240207 (date) — Filed as of date
• 614 Chapala Street (address) — Business address
• Santa Barbara (location) — Business address city
• CA (location) — Business address state
• 93101 (postal_code) — Business address zip

Forward-Looking Statements

• Sonos will likely face continued revenue pressure in the next quarter. (Sonos Inc.) — medium confidence, target: 2024-03-31
• The company may implement cost-cutting measures to improve profitability. (Sonos Inc.) — medium confidence, target: 2024-06-30

FAQ

Industry Context

Sonos Inc. operates in the Household Audio & Video Equipment industry, manufacturing and selling audio products.

Regulatory Implications

The filing adheres to the reporting requirements of the Securities Exchange Act of 1934, specifically Form 10-Q for quarterly reports.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and cash flow trends.
2. Examine any disclosed commitments and contingencies for potential financial impact.
3. Review management's discussion and analysis for insights into business performance and outlook.

Key Dates

• 2023-12-30: Period End Date — End of the reporting quarter.
• 2024-02-07: Filing Date — Date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This is a 10-Q filing, providing a snapshot of the company's financial status for the most recent quarter, compared to prior periods as detailed within the report.

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value SONO The Nasdaq Stock Mar

Filing Documents

• sono-20231230.htm (10-Q) — 1894KB
• sono-ex31_1.htm (EX-31.1) — 14KB
• sono-ex31_2.htm (EX-31.2) — 14KB
• sono-ex32_1.htm (EX-32.1) — 10KB
• sono-ex32_2.htm (EX-32.2) — 10KB
• 0000950170-24-011840.txt (&nbsp;) — 7430KB
• sono-20231230.xsd (EX-101.SCH) — 1062KB
• sono-20231230_htm.xml (XML) — 1236KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial statements (unaudited)

Financial statements (unaudited) Condensed consolidated balance sheets 3 Condensed consolidated statements of operations and comprehensive income 4 Condensed consolidated statements of stockholders' equity 5 Condensed consolidated statements of cash flows 6 Notes to condensed consolidated financial statements 7 Item 2.

Management's discussion and analysis of financial condition and results of operations

Management's discussion and analysis of financial condition and results of operations 20 Item 3.

Quantitative and qualitative disclosures about market risk

Quantitative and qualitative disclosures about market risk 32 Item 4.

Controls and procedures

Controls and procedures 33

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal proceedings

Legal proceedings 34 Item 1A.

Risk factors

Risk factors 35 Item 2. Unregistered sales of equity securities and use of proceeds 49 Item 3. Defaults upon senior securities 49 Item 4. Mine safety disclosures 49 Item 5. Other information 49 Item 6. Exhibit index 50

SIGNATURES

SIGNATURES 51 Table of contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Ite m 1. Financial statements SONOS, INC. CONDE NSED CONSOLIDATED BALANCE SHEETS (unaudited, in thousands, except par values) As of December 30, 2023 September 30, 2023 Assets Current assets: Cash and cash equivalents $ 467,342 $ 220,231 Accounts receivable, net 80,811 67,583 Inventories 173,043 346,521 Prepaids and other current assets 37,690 25,296 Total current assets 758,886 659,631 Property and equipment, net 86,816 87,075 Operating lease right-of-use assets 53,857 48,918 Goodwill 82,288 80,420 Intangible assets, net In-process research and development 72,846 69,791 Other intangible assets 18,745 20,218 Deferred tax assets 1,714 1,659 Other noncurrent assets 34,838 34,529 Total assets $ 1,109,990 $ 1,002,241 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 176,365 $ 187,981 Accrued expenses 97,992 89,717 Accrued compensation 28,018 22,079 Deferred revenue, current 20,943 20,188 Other current liabilities 52,683 34,253 Total current liabilities 376,001 354,218 Operating lease liabilities, noncurrent 60,622 54,956 Deferred revenue, noncurrent 64,962 60,650 Deferred tax liabilities 10,192 9,846 Other noncurrent liabilities 3,804 3,914 Total liabilities 515,581 483,584 Commitments and contingencies ( Note 7 ) Stockholders' equity: Common stock, $ 0.001 par value 127 130 Treasury stock ( 38,856 ) ( 72,586 ) Additional paid-in capital 569,286 607,345 Retained earnings (accumulated deficit) 68,159 ( 12,788 ) Accumulated other comprehensive loss ( 4,307 ) ( 3,444 ) Total stockholders' equity 594,409 518,657 Total liabilities and stockholders' equity $ 1,109,990 $ 1,002,241 The accompanying notes are an integral part of these condensed consolidated financial statements. 3

View Full Filing

View this 10-Q filing on SEC EDGAR