Sonos Reports Record Revenues

Posted on February 9, 2022 by Paul Thurrott in Sonos, Smart Home with 4 Comments

Despite the ongoing component shortage, Sonos reported record revenues for the quarter ending December 31, 2021. The firm posted a net income of $123.5 million on revenues of $664.5 million, the latter of which was up 3.5 percent year-over-year.

“We are pleased to report that Sonos had another excellent quarter, with record-setting revenue of $664.5 million,” Sonos CEO Patrick Spence said. “Importantly, we believe that we would have sold much more but for chip shortages that constrained our supply, as demand was, and continues to be, strong.”

Sonos credited both new and existing customers for its growth, and it noted that it has “a terrific product roadmap ahead to delight existing customers and attract new ones.” The firm says that it controls just 2 percent of the global audio market, so it sees plenty of headroom.

Sonos is, of course, involved in a high-profile legal battle with Google, which it accuses of stealing its proprietary smart speaker technology. It’s fair to say that that battle is going well for Sonos, with the ITC ruling in January that Google’s smart speakers and other products infringe on five Sonos patents.

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Comments (4)

4 responses to “Sonos Reports Record Revenues”

  1. spacein_vader

    Wonder what they made more from, Apple like margins on adequate speakers or patent trolling.

    • jgraebner

      I wouldn't consider them to be patent trolls as they actually make and sell products that use their patents.

      • darkgrayknight

        Yeah, they aren't patent trolls. And it looks like Google is probably the one running loose with using patented smart speaker tech. Google runs on the nearly legal line with many parts of the company. They should do a better job of respecting other companies'/people's work.

  2. christianwilson

    We are looking at moving off of Amazon Echo to something else. We don't need a digital assistant but we listen to music far more than we watch TV. Every few years, I toss around the idea of going with Sonos. I'm glad to see they are doing well as it helps inform my decision.