— Sonos Inc. (NASDAQ: SONO) reported a fourth-quarter 2019 loss of $0.28 per share versus a loss of $0.22 per share expected.
— Revenue grew by 8% to $294.16 million versus $289.05 million expected. The results were driven by Sonos One and Beam.
— The company sold 1,544,612 products, representing 38% growth year-over-year.
— Wireless speaker revenue increased by 25% primarily driven by strong Sonos One sales and the launch of Move. Wireless speaker products sold rose 14% given the strength of One and Move.
— Home theater speaker revenue fell by 25% and products sold dropped by 26% given the launch of Beam in the prior year.
— Looking ahead into the full year 2020, the company now expects revenue in the range of $1.365 billion to $1.4 billion, representing an 8-11% growth driven by the introduction of Move, its IKEA partnership, and other new products.
— The gross margin is expected to be 41.2% to 42.2% for the full year. Excluding one-time tariff-related costs, GAAP gross margin is predicted to be 43.2% to 44.2% for fiscal 2020.
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