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Wireless Speaker Company Sonos Files For IPO: What You Need to Know
High-end speaker maker Sonos filed for an IPO on Friday. The company plans to list in the Nasdaq under the ticker “SONO,” and proposed an initial offering of $100 million worth of shares.
Sonos reported a net loss of $14.2 million on $992.5 million in revenue in fiscal 2017, a significant improvement over 2016’s $38.2 million net loss on revenue of $901.3 million. Adjusted EBITDA in 2017 was $56 million.
The company’s annual growth has been volatile but accelerating since 2016. Revenue …
Read the full story at Benzinga. Photo: Sonos