Smart speaker manufacturer Sonos files IPO against tech giants

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Spinonews Sonos files IPO

Sonos files IPO

American smart audio devices manufacturer, Sonos has filed with the US Securities and Exchange Commission to go public. The company warned investors of potential risk factors, such as Sonos reliance on rivals such as Amazon, Apple, Google.

The filing is also a good look at some of the numbers behind Sonos’ business. As of March 31st, the company sold 19 million products in roughly 6.9 million family units around the world. The figures are affirmation that people who buy one Sonos device are likely to continue to build out their setup by buying more. The company also support its customers tend to listen to 80% more music after buying their first Sonos product.

Company’s net income

Due to this latest technology news, Sonos filing also uncovered a deeper look at its recent profit. Ongoing numbers appear to be great. From October 2017 to March 2018, the company producing $655.7 million in income with a net income of $13.1 million.

But, the company’s $992.5 million income in the 2017 wasn’t sufficient to put the company at a profit, with a net loss for the financial year of $14.2 million. The firm also noticed that 55% of that income generated outside the United States.

The company likewise calls attention to that its present plan of action is profoundly dependent on incorporation with different administrations and accomplices, as Spotify, Apple, and Amazon. Its association with Amazon gives the Sonos One and Sonos Beam access to Alexa can be revoked by Amazon with limited notice.

The company first recorded printed material for its posting with the U.S. SEC back in April which evaluated that its market valuation might be around $2.5 to $3 billion.