On February 6, 2025, Sonos reported its First Quarter Fiscal 2025 results, with revenue reaching $550.857 million, a 10% decrease year-over-year from $612.869 million in Q1 FY24. Despite the decline, revenue was near the high end of the company's guidance range and surpassed Wall Street estimates.
The company reported a GAAP net income of $50.237 million, or $0.40 per diluted share, compared to $80.947 million, or $0.64 per diluted share, in Q1 FY24. Non-GAAP diluted EPS was $0.64, exceeding analyst consensus estimates, while Adjusted EBITDA was $91.173 million, down from $115.242 million in the prior year.
Sonos also announced a significant organizational change, implementing a reduction in force on February 4, 2025, impacting approximately 12% of its workforce, or about 200 positions. This restructuring is expected to incur $15 million to $18 million in expenses and is aimed at enhancing operational efficiency and the company's financial framework.
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