Sonos (SONO) FY2019 results: revenue $1.3 billion, up 10.9% on the year
Sonos Inc. (SONO) reported revenue of $1.3 billion for fiscal 2019, the year ended 28 September 2019, up 10.9% on the year before. Net income was -$5 million, and diluted earnings per share $-0.05. The figures are the company's own, from the 10-K it filed with the SEC on 26 November 2019.
Revenue
$1.3 billion
+10.9% on the year
FY2015FY2019
Operating margin
0.5%
-0.8% a year earlier
FY2015FY2019
Net income
-$5 million
FY2015FY2019
Diluted EPS
-$0.05
FY2015FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
1,261
1,137
993
+10.9%
Cost of revenue
733
648
536
+13.2%
Gross profit
527
489
456
+7.8%
Gross margin
41.8%
43.0%
45.9%
Research and development
171
142
124
+20.5%
Operating income
5.7
-8.9
-15.6
Operating margin
0.5%
-0.8%
-1.6%
Interest expense
2.5
5.2
4.4
-52.3%
Pre-tax income
-1.1
-14.5
-16.5
Income tax
3.7
1.1
-2.3
+249.4%
Net income
-4.8
-15.6
-14.2
Net margin
-0.4%
-1.4%
-1.4%
Diluted EPS
-$0.05
-$0.24
-$0.25
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
121
30.6
64.0
+294.6%
Capital expenditure
23.2
35.7
33.6
-35.0%
Free cash flow
97.4
-5.2
30.4
Free cash flow margin
7.7%
-0.5%
3.1%
Cash from investing
-23.2
-35.7
-33.6
Cash from financing
21.9
94.4
24.0
-76.8%
Depreciation and amortisation
36.4
39.4
n/a
-7.5%
Share-based compensation
46.6
38.6
36.5
+20.5%
Buybacks
2.4
0.9
10.0
+166.3%
Diluted shares, weighted
104m
n/a
n/a
Shares outstanding at period end
109m
100m
59m
+8.5%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
281
208
0.0
+34.8%
Redeemable equity
0.0
0.0
90.3
Debt
33.2
39.8
39.6
-16.6%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
448
339
270
+31.9%
Total liabilities and equity
762
587
400
+29.6%
Fixed assets
78.1
85.4
95.1
-8.5%
Goodwill
1.0
1.0
n/a
+0.5%
Intangible assets
0.0
n/a
n/a
Cash and equivalents
339
221
131
+53.3%
Receivables
103
73.2
47.4
+40.3%
Inventory
220
193
114
+13.8%
Other assets
21.3
13.8
13.1
+54.3%
Total assets
762
587
400
+29.6%
10-K for the year ended 28 September 2019, filed 26 November 2019: the filing.