Sonos: exceeds full-year targets, shares rise
(CercleFinance.com) - US wireless speaker company Sonos said that it has exceeded its targets in fiscal 2019, with revenue up 11% to a record 1.
26 billion dollars and adjusted EBITDA up 28% to 89 million dollars.
For the record, the Santa Barbara-California-based company was targeting 10% revenue growth and 20% growth in adjusted EBITDA each year.
Looking into fiscal 2020, Sonos said it has a "robust" and "ambitious" product roadmap and feels "encouraged" by its progress.
Again, the company's fiscal 2020 outlook (mid-range) is consistent with its long-term goal of revenue growth of over 10%, with an adjusted EBITDA that is up at least 20% over time.
Also on Thursday, Sonos annouced its first acquisition as a listed company, with the buy-out of AI voice platform for connected devices Snips for approximately 37.5 million dollars in cash.
The Sonos share was trading up over 4% on the Nasdaq after these announcements.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
26 billion dollars and adjusted EBITDA up 28% to 89 million dollars.
For the record, the Santa Barbara-California-based company was targeting 10% revenue growth and 20% growth in adjusted EBITDA each year.
Looking into fiscal 2020, Sonos said it has a "robust" and "ambitious" product roadmap and feels "encouraged" by its progress.
Again, the company's fiscal 2020 outlook (mid-range) is consistent with its long-term goal of revenue growth of over 10%, with an adjusted EBITDA that is up at least 20% over time.
Also on Thursday, Sonos annouced its first acquisition as a listed company, with the buy-out of AI voice platform for connected devices Snips for approximately 37.5 million dollars in cash.
The Sonos share was trading up over 4% on the Nasdaq after these announcements.
Copyright (c) 2019 CercleFinance.com. All rights reserved.