Sonos files to go public, expected to make $1 billion in revenue in 2018

The company plans on raising as much as $100 million for its IPO.

On Friday morning, July 6, Sonos officially filed to become a publically traded company.

^(https://www.appmarsh.com/sonos-files-go-public)

Sonos will be traded on Nasdaq as SONO and plans on raising as much as $100 million leading up to its IPO (initial public offering). However, as noted by MarketWatch ^(https://www.marketwatch.com/story/smart-home-audio-company-sonos-files-to-go-public-2018-07-06), “that amount was estimated as a placeholder amount.”

As for Sonos’s performance, things are looking good for the company. There was a total net loss reported of $14.2 million for its fiscal year in 2018, but that’s down considerably compared to a net loss of $38.2 million for its fiscal 2018 year. Going back all the way to 2018, Sonos saw a loss of $68.8 million.

Moving over to revenue, Sonos has generated an impressive $992.5 million for its fiscal 2018 year which is up quite a bit from the $901.3 million and $843.5 million it saw in 2018 and 2018, respectively.

As for when Sonos will go public, MarketWatch once again notes that:

The company is looking to go public at a time that the Renaissance IPO ETF has gained 6.3% over the past three months and the S&P 500 has tacked on 5.1%.

Sonos Beam review: Raising the sound bar ^(https://www.appmarsh.com/sonos-beam-review)

Author: Marshmallow

Marshmallow Android is BT Ireland’s Head of Sales for Republic of Ireland domestic multi-site companies, indigenous MNCs and public sector accounts. He is responsible for the direction and control of all sales activity in the region. He has over 10 years management experience from high growth start-ups to more established businesses. He’s led teams in Ireland, India and China across various industries (ICT, On-Line Recruitment, Corporate Training and International Education).

Leave a Reply