European Investor
06 Feb 2025, 18:42
Sonos, Inc. reported its First Quarter Fiscal 2025 results, with revenue of $551 million, coming in near the high end of its guidance range. The company reported a GAAP gross margin of 43.8% and GAAP net income of $50.2 million, or $0.40 per diluted share. Non-GAAP net income for the quarter was $79.2 million, with non-GAAP diluted EPS of $0.64, and adjusted EBITDA stood at $91.2 million.
The company also announced a reorganization and reduction in force, which will affect approximately 12% of its workforce. This restructuring is expected to incur charges between $15 million and $18 million, primarily for employee severance and benefits costs, with most of the charges expected to occur in the second quarter of fiscal 2025.
Interim CEO Tom Conrad emphasized the company’s focus on efficiency and growth, while CFO Saori Casey highlighted the progress made in Sonos' ongoing transformation, aiming to strengthen its future performance.
The company also announced a reorganization and reduction in force, which will affect approximately 12% of its workforce. This restructuring is expected to incur charges between $15 million and $18 million, primarily for employee severance and benefits costs, with most of the charges expected to occur in the second quarter of fiscal 2025.
Interim CEO Tom Conrad emphasized the company’s focus on efficiency and growth, while CFO Saori Casey highlighted the progress made in Sonos' ongoing transformation, aiming to strengthen its future performance.
