Quarterly ResultMay 5, 2026, 06:08 AM
Sonos H1 Net Income $64.9M, Revenue $827.2M; Q2 Net Loss $(28.9)M
AI Summary
Sonos reported a net income of $64.9 million on revenue of $827.2 million for the six months ended March 28, 2026, a significant improvement from a net loss in the prior year period. For the second fiscal quarter, the company posted a net loss of $28.9 million on revenue of $281.5 million, which was a substantial reduction in loss compared to the previous year. The company also repurchased $64.8 million in common stock and provided updates on ongoing legal proceedings, including favorable developments in its patent disputes with Google and potential recovery of $40 million in tariffs.
Key Highlights
- Six-month revenue increased to $827.2 million from $810.6 million year-over-year.
- Six-month net income was $64.9 million, a turnaround from a $19.9 million net loss.
- Q2 revenue grew to $281.5 million from $259.8 million year-over-year.
- Q2 net loss significantly reduced to $28.9 million from $70.1 million year-over-year.
- Cash and cash equivalents increased to $200.2 million as of March 28, 2026.
- Repurchased $64.8 million of common stock, with $64.8 million remaining in the program.
- Americas revenue for six months was $509.5 million; EMEA revenue was $272.6 million.
- Federal Circuit overturned a decision invalidating Sonos' jury verdict against Google.
- US Supreme Court ruled certain IEEPA tariffs invalid, potentially recovering $40 million.