- Sonos (NASDAQ:SONO) rallies after FQ1 EPS tops estimates on revenue growth of 15%.
- The company reports an adjusted EBITDA pop of 78% compared to a year ago to $166.3M.
- Gross margin increased 590 bps 46.4% from 40.5% last year; excluding the effect of tariff duties and refunds.
- Free cash flow increased 97% during the quarter to $203.2M.
- "Based on our outstanding first quarter performance, the momentum in our business, the exciting products we have planned for the future, and the power and profitability of our unique business model, we are raising our outlook for fiscal 2021."
- Sonos guides for FY21 revenue of $1.525B to $1.575B vs. $1.46B consensus and adjusted EBITDA of $195M to $225M.
- Shares of Sonos are up 8.65% after the earnings beat.