Sonos (SONO) financial statements
Sonos reported revenue of $1.4B in fiscal 2025, up 5.4% a year over 9 years.
Net income was -$61M and the operating margin -3.5%, against -3.4% in 2016.
Free cash flow was $108M, and the company returned $81M in net buybacks.
The diluted share count rose 124% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Sonos's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $901M | $993M | $1.1B | $1.3B | $1.3B | $1.7B | $1.8B | $1.7B | $1.5B | $1.4B |
| Cost of revenue | $498M | $536M | $648M | $733M | $754M | $907M | $956M | $939M | $829M | $813M |
| Gross profit | $403M | $456M | $489M | $527M | $572M | $810M | $796M | $716M | $689M | $631M |
| Research and development | $108M | $124M | $142M | $171M | $215M | $230M | $256M | $301M | $305M | $280M |
| Selling, general and admin | $327M | $347M | $356M | $350M | $385M | $425M | $451M | $436M | $433M | $401M |
| Operating income | -$31M | -$16M | -$9M | $6M | -$27M | $155M | $90M | -$21M | -$48M | -$50M |
| Interest expense | — | $4M | $5M | $2M | $1M | $592,000 | $552,000 | $733,000 | $441,000 | $465,000 |
| Pre-tax income | -$36M | -$17M | -$15M | -$1M | -$20M | $157M | $69M | $4M | -$27M | -$50M |
| Income tax | $3M | -$2M | $1M | $4M | $32,000 | -$2M | $1M | $15M | $11M | $11M |
| Net income | -$38M | -$14M | -$16M | -$5M | -$20M | $159M | $67M | -$10M | -$38M | -$61M |
| EPS (diluted) | -$0.71 | -$0.25 | -$0.24 | -$0.05 | -$0.18 | $1.13 | $0.49 | -$0.08 | -$0.31 | -$0.51 |
| Diluted shares | 54M | 56M | 66M | 104M | 110M | 140M | 138M | 128M | 123M | 121M |
| Gross margin | 44.8% | 45.9% | 43.0% | 41.8% | 43.1% | 47.2% | 45.4% | 43.3% | 45.4% | 43.7% |
| Operating margin | -3.4% | -1.6% | -0.8% | 0.5% | -2.1% | 9.0% | 5.1% | -1.2% | -3.2% | -3.5% |
| Net margin | -4.2% | -1.4% | -1.4% | -0.4% | -1.5% | 9.2% | 3.8% | -0.6% | -2.5% | -4.2% |
Balance sheet
Fiscal years, from Sonos's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $75M | $131M | $221M | $339M | $407M | $640M | $275M | $220M | $170M | $175M |
| Receivables | $45M | $47M | $73M | $103M | $55M | $101M | $101M | $68M | $45M | $66M |
| Inventory | $54M | $114M | $193M | $220M | $181M | $185M | $454M | $347M | $232M | $171M |
| Total current assets | — | $301M | $498M | $679M | $660M | $958M | $867M | $660M | $551M | $504M |
| Property, plant and equipment | — | $95M | $85M | $78M | $61M | $71M | $86M | $87M | $102M | $72M |
| Goodwill | — | — | $1M | $1M | $16M | $16M | $77M | $80M | $83M | $83M |
| Total assets | — | $400M | $587M | $762M | $816M | $1.1B | $1.2B | $1.0B | $916M | $823M |
| Total current liabilities | — | $223M | $296M | $402M | $393M | $476M | $536M | $354M | $366M | $352M |
| Long-term debt | — | $40M | $33M | $25M | $18M | $0 | — | — | — | — |
| Total liabilities | — | $310M | $379M | $481M | $518M | $570M | $628M | $484M | $488M | $468M |
| Shareholders' equity | -$29M | $27,000 | $208M | $281M | $298M | $569M | $561M | $519M | $429M | $355M |
| Net debt | -$75M | -$91M | -$181M | -$305M | -$382M | -$640M | -$275M | -$220M | -$170M | -$175M |
Cash flow
Fiscal years, from Sonos's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $43M | $64M | $31M | $121M | $162M | $253M | -$28M | $100M | $190M | $137M |
| Capital spending | $53M | $34M | $36M | $23M | $33M | $46M | $46M | $50M | $55M | $29M |
| Free cash flow | -$9M | $30M | -$5M | $97M | $129M | $208M | -$74M | $50M | $135M | $108M |
| Stock-based compensation | $26M | $37M | $39M | $47M | $58M | $62M | $76M | $77M | $84M | $82M |
| Share buybacks (net) | -$145,000 | -$10M | -$911,000 | -$2M | -$50M | -$50M | -$150M | -$100M | -$129M | -$81M |
| Net borrowing | -$85M | $0 | -$70M | -$7M | -$8M | -$25M | — | — | — | — |
| Free cash flow margin | -1.0% | 3.1% | -0.5% | 7.7% | 9.7% | 12.1% | -4.3% | 3.0% | 8.9% | 7.5% |
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Open SONO in InvestinglyQuestions
What was Sonos's revenue in 2025?
$1.4B in fiscal 2025, from its 10-K filing.
How much free cash flow does Sonos generate?
$108M in fiscal 2025 (operating cash flow minus capital spending).
From Sonos's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.