Quick Read – SONO’s Q3 revenue rose 9% to $375M as Conrad’s turnaround delivers seven straight quarters of met commitments and expanding margins. – Conrad sees a $5 billion incremental revenue opportunity by doubling devices per household, with analysts setting a $19 price…
rget. – A non-recurring $23M tariff refund padded Q3 margins, and a beta of 1.96 with a PE of 33 leaves little cushion for missteps. – Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Sonos didn’t make the cut. Grab the names FREE today
Tom Conrad inherited a Sonos (NASDAQ:SONO) in disarray, damaged by a botched app redesign and a shrinking top line. Roughly 18 months into his tenure, the company is growing again, expanding margins, and returning cash. Shares closed most recently at $14.66, up 35.6% over one year but down 16.5% year to date, with a market cap around $1.73 billion.
The Turnaround Scorecard Conrad’s fingerprints are on every line of the income statement. A 12% workforce reduction in February 2025 carrying $33.49 million in charges reset the cost base. Operating expenses in Q1 FY2026 fell to $153.04 million from $193.31 million a year prior, helping the quarter produce more profit than all of fiscal 2025, with adjusted EBITDA of $132.14 million at a 24.2% margin.