Smart-Speaker Maker Sonos Files $100M IPO

Smart-speaker maker Sonos filed a $100 million IPO with the SEC. The company plans to list on the NASDAQ under symbol 'SONO'.

The offering is being led by Morgan Stanley, Goldman Sachs, Allen & Company, RBC, Jefferies, KKR, Raymond James and Stifel.

As of March 31, 2018, Sonos customers had registered over 19 million products in approximately 6.9 million households globally. Based on customer data, they estimate that, on average, their customers listen to approximately 70 hours of content per month and to approximately 80% more music after purchasing their first Sonos product.

Sonos generated revenue of $655.7 million in the six months ended March 31, 2018, an 18% increase from $555.4 million in the six months ended April 1, 2017. For the six months ended March 31, 2018, net income was $13.1 million and our adjusted EBITDA was $50.5 million. The company generated revenue of $992.5 million in fiscal 2017, a 10% increase from $901.3 million in fiscal 2016. In fiscal 2017, net loss was $14.2 million and adjusted EBITDA was $56.0 million.

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