Sonos Reports Record Fiscal Year and Fourth Quarter 2021 Results

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[{"type":"text","content":"\nIntroduces Fiscal 2022 Outlook; Ahead of Schedule Reaching Fiscal 2024 Targets\n\n SANTA BARBARA, Calif.--(BUSINESS WIRE)--\nSonos, Inc. (Nasdaq: SONO) today reported fourth quarter and fiscal 2021 results.\n\nFiscal 2021 Financial Highlights (unaudited)\n\n\nRevenue increased 29% to $1.717 billion; excluding the impact of the 53rd week in fiscal 2020, revenue increased approximately 32%\n\n\nGross margin increased 410 basis points to 47.2%; excluding the effect of tariff duties and refunds, gross margin increased 130 basis points to a record of 46.9%\n\n\nGAAP net income increased to $158.6 million from a net loss of ($20.1) million last year; non-GAAP net income excluding stock-based compensation, restructuring, and legal and transaction-related fees increased to $248.3 million from $79.2 million last year\n\n\nGAAP diluted earnings per share (EPS) increased to $1.13 from a loss per share of ($0.18) last year; non-GAAP diluted earnings per share (EPS) excluding stock-based compensation, restructuring, and legal and transaction related fees increased to $1.77 from $0.67 last year\n\n\nAdjusted EBITDA increased 157% to $278.6 million\n\n\nAdjusted EBITDA margin increased 800 basis points to 16.2%\n\n\nCash flows from operating activities increased to $253.2 million compared to $162.0 million last year\n\n\nFree cash flow increased to $207.7 million compared to $129.0 million last year\n\n\nFourth Quarter 2021 Financial Highlights (unaudited)\n\n\nRevenue increased 6% year-over-year to $359.5 million; excluding the impact of the 14th week last year, revenue increased approximately 14% year-over-year\n\n\nGross margin of 46.4% compared to 47.5% last year; excluding the effect of tariff duties and refunds, gross margin was 45.7% compared to 48.3% last year\n\n\nGAAP net loss of ($8.7) million compared to net income of $18.4 million last year; non-GAAP net income excluding stock-based compensation, restructuring and legal and transaction related fees of $11.8 million compared to $40.7 million last year\n\n\nGAAP diluted loss per share of ($0.07) compared to $0.15 last year; non-GAAP diluted earnings per share (EPS) excluding stock-based compensation, restructuring, and legal and transaction related fees of $0.08 compared to $0.33 last year\n\n\nAdjusted EBITDA of $17.1 million compared to $46.4 million last year\n\n\nAdjusted EBIT...

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