Sonos, Inc.

SONO

TechnologySmall CapUS Equities · NYSE / NASDAQ

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Company Profile

Sonos, Inc., together with its subsidiaries, designs, develops, manufactures, and sells audio products and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers wireless, portable, plug-in, and home theater speakers; and headphones, soundbars, components, and accessories. It offers its products through physical stores, websites, online retailers, and custom installers. The company was formerly known as Rincon Audio, Inc. and changed its name to Sonos, Inc. in May 2004. Sonos, Inc. was incorporated in 2002 and is based in Santa Barbara, California.

Valuation

Market Cap$1.9B

Current Price$14.38as of Jun 23, 2026

P/E Ratio-

P/B Ratio5.45

EV / EBITDA143.85

EV / Sales1.22

Profitability

Operating Margin-2.3%

Net Profit Margin-4.2%

EBITDA Margin0.9%

Returns

ROE-17.2%

ROCE-14.1%

ROIC %-

ROA-7.4%

Solvency

Current Ratio1.43

Debt / Equity0.17

Debt / Assets0.07

CFO / Net Profit-2.24

Price History▲ 42.89% over 1Y

Technical Chart

Historical Performance Charts

5-year financial trends. Figures in USD millions.

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Latest fiscal year: 2025

Revenue$1.4B▼ 4.9%

EBITDA$12M▼ 52.1%

Net Profit$-61M▲ 60.3%

Cash from Ops (CFO)$137M▼ 27.9%

Free Cash Flow (FCF)$108M▼ 19.7%

Revenue CAGR 3Y-6.3%

Revenue CAGR 5Y-

Net Profit CAGR 3Y-

Net Profit CAGR 5Y-

Historical Growth

Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)

Year	Revenue	EBITDA	Net Profit	FCF	ROE	Rev Growth 1Y	NP Growth 1Y
2025	$1.4B	$12M	$-61M	$108M	-17.2%	-4.9%	60.3%
2024	$1.5B	$26M	$-38M	$135M	-8.9%	-8.3%	271.3%
2023	$1.7B	$54M	$-10M	$50M	-2.0%	-5.5%	-115.2%
2022	$1.8B	$108M	$67M	$-74M	12.0%	-	-
2021	-	-	-

Financial Statements

Income statement, balance sheet, and cash flow as reported

Consolidated Figures in USD Millions.

Metric	2021	2022	2023	2024	2025
Total Revenue	-	1,752.34	1,655.26	1,518.06	1,443.28
Operating Revenue	-	1,752.34	1,655.26	1,518.06	1,443.28
Cost Of Revenue	-	955.97	938.76	828.68	812.75
Gross Profit	-	796.37	716.49	689.37	630.53
Operating Expense	-	706.84	737.04	731.31	663.48
Research And Development	-	256.07	301	304.56	279.97
Selling General And Administration	-	450.76	436.04	426.75	383.51
Total Expenses	-	1,662.80	1,675.80	1,559.99	1,476.23
Operating Income	-	89.53	-20.55	-41.94	-32.95
Total Operating Income As Reported	-	89.53	-20.55	-48.05	-50.47
EBITDA	-	107.79	54.10	25.67	12.29
Normalized EBITDA	-	107.79	54.10	31.78	29.80
EBIT	-	69.28	5.13	-26.71	-50.03
Interest Income	-	1.66	10.20	11.96	6.93
Interest Expense	-	0.55	0.73	0.44	0.46
Net Interest Income	-	1.10	9.47	11.52	6.47
Other Non Operating Income Expenses	-	-21.90	15.47	9.37	-6.50
Other Income Expense	-	-21.90	15.47	3.26	-24.01
Interest Income Non Operating	-	1.66	10.20	11.96	6.93
Interest Expense Non Operating	-	0.55	0.73	0.44	0.46
Net Non Operating Interest Income Expense	-	1.10	9.47	11.52	6.47
Pretax Income	-	68.73	4.39	-27.15	-50.50
Tax Provision	-	1.35	14.67	11	10.65
Tax Rate For Calcs	-	0	0	0	0
Tax Effect Of Unusual Items	-	0	0	-1.28	-3.68
Net Income Continuous Operations	-	67.38	-10.27	-38.15	-61.14
Net Income From Continuing And Discontinued Operation	-	67.38	-10.27	-38.15	-61.14
Net Income From Continuing Operation Net Minority Interest	-	67.38	-10.27	-38.15	-61.14
Net Income	-	67.38	-10.27	-38.15	-61.14
Net Income Common Stockholders	-	67.38	-10.27	-38.15	-61.14
Net Income Including Noncontrolling Interests	-	67.38	-10.27	-38.15	-61.14
Normalized Income	-	67.38	-10.27	-33.32	-47.31
Diluted NI Availto Com Stockholders	-	67.38	-10.27	-38.15	-61.14
Basic Average Shares	-	127.69	127.70	123.22	120.75
Diluted Average Shares	-	137.76	127.70	123.22	120.75
Reconciled Depreciation	-	38.50	48.97	52.38	62.32
Reconciled Cost Of Revenue	-	955.97	938.76	828.68	812.75
Total Unusual Items	-	0	-9.09	-6.11	-17.52
Total Unusual Items Excluding Goodwill	-	0	-9.09	-6.11	-17.52
Special Income Charges	-	0	-9.09	-6.11	-17.52
Restructuring And Mergern Acquisition	-	0	9.09	6.11	17.52
General And Administrative Expense	-	170.43	168.52	138.91	112.10
Other Gand A	-	170.43	168.52	138.91	112.10
Selling And Marketing Expense	-	280.33	267.52	287.84	271.41

Peer Comparison

Technology sector peers, ranked by market cap

Company	Ticker	Market Cap	P/E	P/B	ROE	EV/EBITDA
Sonos, Inc.this co.	SONO	$1.9B	-	5.45	-17.2%	143.85
Grindr Inc.	GRND	$1.9B	20.07	40.46	201.6%	15.27
CTS Corporation	CTS	$1.9B	29.01	3.43	11.8%	15.46
Intapp, Inc.	INTA	$1.9B	-103.17	3.62	-3.5%	-340.62
Five9, Inc.	FIVN	$1.9B	47.51	2.38	5.0%

Learn while you research

Hand-picked academy chapters to deepen your understanding of Sonos, Inc. and the metrics that matter.

01 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read 02 Stock Market Risks

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Year

Revenue

EBITDA

Net Profit

FCF

ROE

Rev Growth 1Y

NP Growth 1Y

2025

$1.4B

$12M

$-61M

$108M

-17.2%

-4.9%

60.3%

2024

$1.5B

$26M

$-38M

$135M

-8.9%

-8.3%

271.3%

2023

$1.7B

$54M

$-10M

$50M

-2.0%

-5.5%

-115.2%

2022

$1.8B

$108M

$67M

$-74M

12.0%

2021

Metric

2021

2022

2023

2024

2025

Total Revenue

1,752.34

1,655.26

1,518.06

1,443.28

Operating Revenue

1,752.34

1,655.26

1,518.06

1,443.28

Cost Of Revenue

955.97

938.76

828.68

812.75

Gross Profit

796.37

716.49

689.37

630.53

Operating Expense

706.84

737.04

731.31

663.48

Research And Development

256.07

301

304.56

279.97

Selling General And Administration

450.76

436.04

426.75

383.51

Total Expenses

1,662.80

1,675.80

1,559.99

1,476.23

Operating Income

89.53

-20.55

-41.94

-32.95

Total Operating Income As Reported

89.53

-20.55

-48.05

-50.47

EBITDA

107.79

54.10

25.67

12.29

Normalized EBITDA

107.79

54.10

31.78

29.80

EBIT

69.28

5.13

-26.71

-50.03

Interest Income

1.66

10.20

11.96

6.93

Interest Expense

0.55

0.73

0.44

0.46

Net Interest Income

1.10

9.47

11.52

6.47

Other Non Operating Income Expenses

-21.90

15.47

9.37

-6.50

Other Income Expense

-21.90

15.47

3.26

-24.01

Interest Income Non Operating

1.66

10.20

11.96

6.93

Interest Expense Non Operating

0.55

0.73

0.44

0.46

Net Non Operating Interest Income Expense

1.10

9.47

11.52

6.47

Pretax Income

68.73

4.39

-27.15

-50.50

Tax Provision

1.35

14.67

10.65

Tax Rate For Calcs

Tax Effect Of Unusual Items

-1.28

-3.68

Net Income Continuous Operations

67.38

-10.27

-38.15

-61.14

Net Income From Continuing And Discontinued Operation

67.38

-10.27

-38.15

-61.14

Net Income From Continuing Operation Net Minority Interest

67.38

-10.27

-38.15

-61.14

Net Income

67.38

-10.27

-38.15

-61.14

Net Income Common Stockholders

67.38

-10.27

-38.15

-61.14

Net Income Including Noncontrolling Interests

67.38

-10.27

-38.15

-61.14

Normalized Income

67.38

-10.27

-33.32

-47.31

Diluted NI Availto Com Stockholders

67.38

-10.27

-38.15

-61.14

Basic Average Shares

127.69

127.70

123.22

120.75

Diluted Average Shares

137.76

127.70

123.22

120.75

Reconciled Depreciation

38.50

48.97

52.38

62.32

Reconciled Cost Of Revenue

955.97

938.76

828.68

812.75

Total Unusual Items

-9.09

-6.11

-17.52

Total Unusual Items Excluding Goodwill

-9.09

-6.11

-17.52

Special Income Charges

-9.09

-6.11

-17.52

Restructuring And Mergern Acquisition

9.09

6.11

17.52

General And Administrative Expense

170.43

168.52

138.91

112.10

Other Gand A

170.43

168.52

138.91

112.10

Selling And Marketing Expense

280.33

267.52

287.84

271.41

Company

Ticker

Market Cap

P/E

P/B

ROE

EV/EBITDA

Sonos, Inc.this co.

SONO

$1.9B

5.45

-17.2%

143.85

Grindr Inc.

GRND

$1.9B

20.07

40.46

201.6%

15.27

CTS Corporation

CTS

$1.9B

29.01

3.43

11.8%

15.46

Intapp, Inc.

INTA

$1.9B

-103.17

3.62

-3.5%

-340.62

Five9, Inc.

FIVN

$1.9B

47.51

2.38

5.0%

Sonos, Inc.

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Sonos, Inc.

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Key concepts to brush up on