Sonos (SONO) Tops Q4 EPS by 18c, FY21 Revenue Guidance Beats

Sonos (NASDAQ: SONO) reported Q4 EPS of $0.33, $0.18 better than the analyst estimate of $0.15. Revenue for the quarter came in at $339.8 million versus the consensus estimate of $298.77 million.

GUIDANCE:

Sonos sees FY2021 revenue of $1.44-1.5 billion, versus the consensus of $1.38 billion.

• Adjusted EBITDA in the range of $170 million to $205 million, representing growth in the range of 57% to 89%, or 21% to 46% excluding the effect of tariffs in fiscal 2020
• Adjusted EBITDA margin in the range of 12% to 14%, representing a 380 to 580 basis point improvement year-over-year, or 140 to 340 basis points excluding the effect of tariffs in fiscal 2020
• Gross margin in the range of 45.3% to 45.8%, representing a 220 to 270 basis point improvement year-over-year; excluding the effect of tariffs in fiscal 2020, gross margin roughly flat year-over-year. This includes minimal impact from ongoing tariffs and no impact from the potential tariff refund.
• Revenue in the range of $1.44 billion to $1.5 billion, representing growth in the range of 11% to 15% from fiscal 2020 on a comparable 52-week basis and 9% to 13% on as reported basis
• Direct-to-consumer revenue as a percentage of total revenue similar to fiscal 2020

For earnings history and earnings-related data on Sonos (SONO) click here.

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