SONO · Sonos, Inc.

Sonos reported second quarter fiscal 2026 results with revenue of $282 million, up 8% year-over-year and near the high end of guidance. GAAP gross margin improved to 44.3% from 43.7%, while Non-GAAP gross margin declined to 46.0% from 47.1%. GAAP net loss narrowed significantly to ($29 million) from ($70 million), and Non-GAAP net loss improved to ($3 million) from ($22 million). Adjusted EBITDA turned positive at $2 million, the first positive Q2 Adjusted EBITDA in four years, compared to a loss of ($1 million) a year ago. Management attributed the progress to better products, stronger software experience, more effective marketing, and continued expansion in growth markets. CEO Tom Conrad noted the first half of fiscal 2026 marks a turning point with return to growth. CFO Saori Casey highlighted that first half Adjusted EBITDA was up 48% year-over-year. The company did not provide forward guidance in the press release. Separately, Sonos appointed Frank Barbieri as Chief Operating Officer effective May 4, 2026. Barbieri previously held roles at Walmart Inc., including Vice President of Content & Digital. His compensation includes a $500,000 base salary, annual cash incentive target of 65% of base, and equity awards totaling $3 million in target value (RSUs and PSUs). Concurrently, Eddie Lazarus will no longer serve as Business Development Officer but remains Chief Legal Officer. The company also returned $40 million to shareholders via share repurchases in Q2.