Strata-gee.com

Strategy in TECH...

You are here: Home / Archives for Sonos

Sonos

Sonos Q4 & Full Year 2023 Results Show Post-COVID Drop in Demand

by 3 Comments

Sonos Q4 and Fiscal 2023 earnings

Fiscal 2023 Total Sales Drop 6%…Installer Sales Decline 7%

After the close of markets on Wednesday, Sonos released its Fiscal 2023 fourth quarter (Q4) and full-year results. As one of the industry’s top consumer brands, Sonos’ latest quarterly and full-year earnings put the post-COVID strain in full display as the company was hit with both sales and profit declines even though it took aggressive steps to adjust to an adverse consumer market.

The company says loyal customers are its greatest buffer against macroeconomic headwinds, but those headwinds were particularly daunting in 2023.

See more on the Sonos Fiscal 2023 Q4 and Full Year results

[Read more…] about Sonos Q4 & Full Year 2023 Results Show Post-COVID Drop in Demand

After $32.5M Jury Win for Sonos, Judge Throws Out Jury Verdict and Finds for Google

by 4 Comments

A Google facility

Declares Sonos Patents Unenforceable & Invalid

In a shocking twist to a long-running patent battle, U.S. District Court Judge William H Alsup declared Sonos’ ‘966 and ‘885 patents at trial are unenforceable and invalid effectively countermanding a jury decision on behalf of Sonos and a royalty award of $32.5 million. Furthermore, the judge’s order suggests that Sonos abused the patent system by attempting to use it to “punish an innovator” and to “enrich a[n] [innovation] pretender.”

See more on this shocking twist at the end of Sonos vs. Google

[Read more…] about After $32.5M Jury Win for Sonos, Judge Throws Out Jury Verdict and Finds for Google

Tech Guru Panos Panay Resigns from Sonos Board; Co. Intros ‘New’ Execs

by Leave a Comment

Panos Panay, when he joined Sonos board

Last week, Sonos quietly let the Securities and Exchange Commission know that Panos Panay resigned from the Sonos board of directors, effective September 27, 2023. They made no public announcement that I am aware of, even though this news could have a major impact on the company’s direction. Why? Simply because Panos Panay is one of the most respected technology product gurus in the industry – so much so that Sonos trumpeted his arrival loudly when they convinced him to join their board in 2020.

Separately, and within just days of the exit of Panay, the company announced three “new” (I’ll explain the quotes around the word new below) additions to its executive team, including a new, promoted from within, Chief Product Officer…

See more about the departure of Panay from the Sonos board, and its new additions

[Read more…] about Tech Guru Panos Panay Resigns from Sonos Board; Co. Intros ‘New’ Execs

Sonos Cuts Headcount 7%, Looking to Cut Real Estate & Programs

by Leave a Comment

Exploded view of Sonos speaker

Is Sonos Exploding?

In a filing with the Securities and Exchange Commission (SEC) on Tuesday, Sonos, Inc. [NASDAQ: SONO] said it will institute a “reduction in force” or headcount reduction of approximately 7% of their employees. While the decision to cut jobs is designed to reduce labor expenses, the execution of the plan is estimated to cost the company somewhere between $11 million to $14 million.

But there was even more in the Sonos filing…

[Read more…] about Sonos Cuts Headcount 7%, Looking to Cut Real Estate & Programs

Jury Sides with Sonos, Orders Google to Pay $32.5m for Infringement

by Leave a Comment

From the Verdict Form in Sonos, Inc. v. Google, LLC

A jury has come to a unanimous verdict in the matter of Sonos, Inc. vs. Google, LLC, a patent infringement lawsuit initially filed on September 22, 2020, in the U.S. District Court for California Northern District in San Francisco. In the case of one of the two patents under consideration – the ‘885 patent – the jury sided with Sonos, finding that Google products did infringe upon the Sonos patent and awarded them a judgment of $32.5 million.

Learn more about this Sonos win over Google

[Read more…] about Jury Sides with Sonos, Orders Google to Pay $32.5m for Infringement

Sonos Stock Drops 25% as Fiscal 2023 2nd Quarter Hit By Slackening Demand

by 2 Comments

Sonos fiscal 2023 second quarter results image

After the close of the stock market Wednesday, Sonos, Inc. released its fiscal 2023 second quarter (Q2) financial results. The numbers were pretty rough, but the company had previously adjusted its forward forecast downward. Yet even though the company’s latest Q2 numbers beat analysts’ revenue forecast and were in line with their guidance, the market reacted negatively. How negatively? Sonos’ stock lost more than 25% of its value on the day after the Q2 earnings were announced.

Why such a strong reaction? Read on…

See why investors were spooked after the Sonos earnings report

[Read more…] about Sonos Stock Drops 25% as Fiscal 2023 2nd Quarter Hit By Slackening Demand

Legal Predator Sonos is Wounded by Google, Its Largest Prey Yet

by Leave a Comment

Google offices

On the eve of the upcoming patent trial in the matter of Sonos, Inc. [Nasdaq: SONO], vs. Google, LLC [Nasdaq: GOOG], both parties had submitted motions for summary judgment trying to win as many points as possible while also clearing away as many outstanding issues as possible to limit the number of factual matters to be determined at trial by a jury. It has been a long and winding road to get to this point, but one thing seems clear to me, Sonos may have gotten more than they bargained for, as this action with Google, their largest adversary by far, appears to have taken a bit of a toll.

Learn more on Sonos vs. Google and the impending trial

[Read more…] about Legal Predator Sonos is Wounded by Google, Its Largest Prey Yet

Sonos Launches New Era 300 and Era 100 Smart Speakers Featuring Spatial Audio

by 4 Comments

New Sonos Era 300

Sonos (NASDAQ: SONO) announced on Tuesday that it has launched two new smart speakers that implement spatial audio for a more immersive listening experience. The company says these new models are the next-generation of smart speakers, utilizing Dolby Atmos technology to launch “…a whole new chapter in sound and design innovation.” They also call them “revolutionary” and “bold” and the “best experience for out loud spatial listening.”

Learn more about the Sonos Era 300 and Era 100

[Read more…] about Sonos Launches New Era 300 and Era 100 Smart Speakers Featuring Spatial Audio

Sonos Q1 Report: Revenue? Flat. Profits? Down. Stock Price? WAY Up. Wait, What?

by Leave a Comment

Sonos fiscal 2023 Q1 results cover image

Wall Street can be a fickle partner sometimes. Occasionally, a company will turn in a good performance, but its stock value will decline anyway because the performance wasn’t as good as financial analysts had expected. And sometimes, as is the case this time with Sonos’ fiscal 2023 first quarter results, you can turn in poor performance, and your stock value can take off flying – because this time, your performance was not good, but not as bad as the financial analysts had expected.

See more on the Sonos fiscal 2023 first-quarter performance

[Read more…] about Sonos Q1 Report: Revenue? Flat. Profits? Down. Stock Price? WAY Up. Wait, What?

Select Tech Stories from CEDIA Expo 2022

by 5 Comments

floor traffic at CEDIA Expo 2022

This post will present some of the top tech stories from CEDIA Expo 2022. You know, covering a trade show like Expo has always been a particular challenge for me. As someone who is always looking for a good story, going to a trade show with hundreds of exhibits is a bit like trying to take a sip of water from a fire hose. Nonetheless, I was able to discover several stories I found particularly interesting and I hope you’ll like them too.

Read on for my select tech stories from CEDIA Expo 2022

[Read more…] about Select Tech Stories from CEDIA Expo 2022