Sonos narrows losses and grows revenue in Q3

Sonos published the financial results from its third quarter of the 2019 fiscal year. The company’s revenue totaled $260 million, growing 25% year-over-year. Sonos saw 11% growth in its wireless speaker sales and 34% growth in home theater sales. Revenue from Sonos One was particularly strong, growing 61% from the year-ago period.

Sonos’ net loss continued to shrink, from $27 million in Q3 2018 to $14 million in Q3 2019. EBITDA for Sonos in the period was $7 million, up from last year’s loss of $2 million.

The shareholder letter shared some insights into Sonos’ partnership with Ikea for the Symfonisk product line. “The Ikea partnership represents an innovative way to bring the Sonos experience to new potential customers at a global scale,” CEO Patrick Spence wrote. “Ikea offers a differentiated footprint as a distribution partner, providing retail showroom environments that present potential customers with a natural, home-like demo experience.”