Demand and volumenegative · 4 filings
“The expected commitments are subject to change as a result of fluctuations in the demand forecast, as well as ongoing negotiations with contract manufacturers and suppliers.”10-Q · May 5, 2026 ↗
Sonos, Inc.
SONO
Market read
Sonos, Inc.'s current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 17 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 11 directly disclosed connections are confirming.
Customer1
Partner1
Lender3
Company+0.5% todayVolume comparison unavailable
Market group0 of 17 activeNo Coherent Theme · unavailable
Disclosed network0 of 8 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- SONO's market-adjusted activity becomes unusual and at least one connected name confirms.
Invalidation: The isolated read changes if SONO's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 17 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 11 directly disclosed connections are confirming.
Evidence that supports
No thresholded supportive filing evidence is available yet.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- SONO's market-adjusted activity becomes unusual and at least one connected name confirms.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods9
Price observations319
Usable filing statements85
Verified relationships11
Evidence supporting the case
No qualifying supportive evidence was identified.
Evidence challenging the case
- Latest annual revenue changed -4.9% year over year.
- Net margin changed -1.7 percentage points in the latest annual period.
- Demand and volume has repeated adverse evidence across 4 filings.
- Foreign exchange has repeated adverse evidence across 4 filings.
- Product pipeline and R&D has repeated adverse evidence across 3 filings.
Questions before a position
- EV/sales is 297% above the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context
Price as of Sep 10, 2026
14.626m-5.1%12m+4.9%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2021-10-02$1.7B+29.4%$1.13+27.8%
2022-10-01$1.8B+2.1%$0.49-1.8%
2023-09-30$1.7B-5.5%$-0.08-7.3%
2024-09-28$1.5B-8.3%$-0.31-3.5%
2025-09-27$1.4B-4.9%$-0.51-2.0%
What management says matters
Persistent and emerging business drivers
Foreign exchangemixed · 4 filings
“Other income (expense), net for the six months ended March 28, 2026 compared to the six months ended March 29, 2025, decreased due to foreign currency exchange fluctuations.”10-Q · May 5, 2026 ↗
Product pipeline and R&Dmixed · 3 filings
“The net decrease in cash from the change in operating assets and liabilities was primarily due to a decrease in accounts payable and accrued expenses of $33.3 million driven by payments for inventory purchases, and an increase in accounts receivable of $31.7…”10-Q · May 5, 2026 ↗
Input and raw-material costsnegative · 2 filings
“23 Table of contents Gross margin increased 190 basis points for the six months ended March 28, 2026 compared to the six months ended March 29, 2025, primarily due to a decrease in product and material costs, foreign exchange rate favorability, a decrease in…”10-Q · May 5, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 1.2× · EV/sales 1.1×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
14.62+0.5% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for SONO. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for SONO. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind SONO
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
AMZNAmazon.com, Inc.customerNov 14, 2025 ▾
“Our voice-enabled speaker products have Amazon Alexa and Google Assistant functionality, and in June 2022, we introduced Sonos Voice Control.”
SPOTSpotify Technology S.A.partnerAug 6, 2025 ▾
“Our platform has attracted a broad range of more than 100 streaming content providers, such as Apple Music, Spotify, Deezer, and Pandora.”
Depended on by
LOGILogitech International S.A.competitorMay 21, 2026 ▾
“Personal voice assistants and other devices that offer music, such as Sonos Inc., Amazon's Echo, Google Home (owned by Alphabet, Inc.) and Apple HomePod, also compete with our products.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 8 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
SONO is currently a Participant in the organic co-movement group No Coherent Theme. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for SONO; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.