Sonos (SONO) Stock Jumps 5% following Q4 EPS Beat, Announces $150 Million Stock Repurchase Program
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Sonos Announces $150 Million Stock Repurchase Program and Completion of Previous Stock Repurchase Program
November 17, 2021 4:06 PM ESTSANTA BARBARA, Calif.--(BUSINESS WIRE)-- Sonos, Inc. (Nasdaq: SONO) today announced that its Board of Directors has authorized a common stock repurchase program of up to $150 million.
Since September 2019, the company has completed $100 million in stock repurchases, including its most recent $50 million stock repurchase program which it completed in the fourth quarter of fiscal 2021. Under these prior authorizations, the company repurchased 5.2 million shares at an average price of $19.30 per share enabling the company to return capital to shareholders and offset dilution from compensation plans.
Patrick Spence, Sonos CEO, commented,... More
Sonos Reports Record Fiscal Year and Fourth Quarter 2021 Results
November 17, 2021 4:05 PM ESTIntroduces Fiscal 2022 Outlook; Ahead of Schedule Reaching Fiscal 2024 Targets
SANTA BARBARA, Calif.--(BUSINESS WIRE)-- Sonos, Inc. (Nasdaq: SONO) today reported fourth quarter and fiscal 2021 results.
Fiscal 2021 Financial Highlights (unaudited)
Revenue increased 29% to $1.717 billion; excluding the impact of the 53rd week in fiscal 2020, revenue increased approximately 32% Gross 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% GAAP net income increased to $158.6 million from a net loss of ($20.1) million last year; non-GAAP net... More