SONO FY 2021 Earnings Report — Sonos, Inc. Revenue & Financial Results | Market Cap Arena

Sonos, Inc.SONO

FY 2021 Earnings

Reported November 22, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$1.7B	—	$1.3B	—	29.4%
Op. Income	$155M	—	-$27M	—	669.0%
Gross Margin	47.2%	—	43.1%	—	4.1pp
Net Margin	9.2%	—	-1.5%	—	10.8pp
EPS (Diluted)	$1.13	—	$-0.18	—	727.8%
Free Cash Flow	$208M	—	$129M	—	61.1%

Revenue Flow

Item	Amount
REVENUE	$1.7B
Cost of Revenue	$907M
GROSS PROFIT	$810M
R&D Expenses	$230M
Selling & Marketing	$272M
General & Administrative	$153M
SG&A Expenses	$425M
Other Expenses	$0
Operating Expenses	$655M
Cost & Expenses	$1.6B
OPERATING INCOME	$155M
Interest Income	$146.0K
Interest Expense	$592.0K
Other Income/Expenses	$2M
INCOME BEFORE TAX	$157M
Income Tax Expense	-$2M
Net Income from Continuing Ops	$159M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$159M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$159M
D&A	$34M
EBIT	$158M
EBITDA	$191M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.7B
Cost of Revenue	$907M
GROSS PROFIT	$810M
R&D Expenses	$230M
Selling & Marketing	$272M
General & Administrative	$153M
SG&A Expenses	$425M
Other Expenses	$0
Operating Expenses	$655M
Cost & Expenses	$1.6B
OPERATING INCOME	$155M
Interest Income	$146.0K
Interest Expense	$592.0K
Other Income/Expenses	$2M
INCOME BEFORE TAX	$157M
Income Tax Expense	-$2M
Net Income from Continuing Ops	$159M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$159M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$159M
D&A	$34M
EBIT	$158M
EBITDA	$191M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$159M
Depreciation & Amortization	$34M
Stock-Based Compensation	$62M
Deferred Income Tax	-$8M
Other Non-Cash Items	$4M
Change in Working Capital	$3M
OPERATING CASH FLOW	$253M
Capital Expenditure	-$46M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	-$46M
Net Debt Issuance	-$25M
Common Stock Repurchased	-$98M
Common Dividends Paid	$0
Other Financing Activities	$148M
NET CASH FROM FINANCING	$25M
FREE CASH FLOW	$208M
Net Change in Cash	$233M

Balance Sheet

Item	Amount
Cash & Equivalents	$640M
Short-Term Investments	$0
Net Receivables	$101M
Inventory	$185M
Other Current Assets	$0
TOTAL CURRENT ASSETS	$958M
PP&E (Net)	$105M
Goodwill	$16M
Intangible Assets	$24M
Long-Term Investments	$0
Tax Assets	$10M
Other Non-Current Assets	$26M
TOTAL NON-CURRENT ASSETS	$181M
TOTAL ASSETS	$1.1B
Account Payables	$215M
Short-Term Debt	$0
Deferred Revenue	$36M
Other Current Liabilities	$120M
TOTAL CURRENT LIABILITIES	$476M
Long-Term Debt	$0
Deferred Revenue NC	$54M
Deferred Tax Liabilities	$2M
Other Non-Current Liabilities	$4M
TOTAL NON-CURRENT LIABILITIES	$94M
TOTAL LIABILITIES	$570M
Common Stock	$129.0K
Additional Paid-In Capital	$690M
Retained Earnings	-$70M
Treasury Stock	-$50M
Accum. Other Comp. Income	-$1M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$569M
Minority Interest	$0
TOTAL EQUITY	$569M
TOTAL LIABILITIES & EQUITY	$1.1B
Total Debt	$45M
Net Debt	-$595M