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Sonos files for IPO to become a public company

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According to Android Police – Android news, reviews, apps, games, phones, tablets (This article and its images were originally posted on Android Police – Android news, reviews, apps, games, phones, tablets July 6, 2018 at 12:27PM.)

Speaker maker Sonos has filed paperwork in the US to become a publicly traded company. The company plans to join the Nasdaq under the symbol SONO. It didn’t specify an initial list price for shares, but it used a placeholder value of $100 million. That could go up or down as we get closer to the sale.

 

The company’s S-1 filing offers our first detailed look at how Sonos speakers are selling. It reports revenue in the most recent fiscal year approaching $1 billion—Sonos sells expensive speakers, after all. However, the company lost $14.2 million during the same period. More recently, Sonos reported a six-month profit of $14.2 million on $655.7 million in revenue. So, it’s right on the edge of profitability.

Sonos used to be the undisputed king of in-home audio streaming, but products with Chromecast and AirPlay have become much more popular in recent years. Sonos still manages to sell a lot of speakers, so that’s encouraging. It’s also exploring the emerging smart speaker market with the Alexa-powered Sonos One. Sonos cites the ongoing trade war with China and Europe as a possible future risk to its business, but its planning to move forward with the IPO regardless.

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This article and images were originally posted on [Android Police – Android news, reviews, apps, games, phones, tablets] July 6, 2018 at 12:27PM. Credit to Author Ryan Whitwam and Android Police – Android news, reviews, apps, games, phones, tablets | ESIST.T>G>S Recommended Articles Of The Day.

 

 

 

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