After reporting bumpy third quarter earnings on Wednesday, Sonos introduced that it has determined to push again a product launch that was initially penciled in for the close to future. The product in query is sort of definitely, a extra inexpensive subwoofer that may be part of the corporate’s dwelling theater lineup alongside the present $749 Sub.
The Sub Miniin June. If Sonos had adopted its typical window of time between that submitting and a client launch, the product would’ve been arriving comparatively quickly. However Sonos says it’s now been delayed till the fiscal first quarter of 2023. “We at all times contemplate the sort of product that it’s, and the timing,” CEO Patrick Spence mentioned on the decision. “We stay dedicated to 2 new product launches annually.”
Sonos spokesperson Erin Pategas confirmed the information to The Verge in an e mail, saying “I can verify we determined to push an anticipated product launch from This autumn ’22 into Q1 ’23.” That will put its rescheduled arrival someday between October and December.
Sonos’ Q3 earnings have been nicely off the mark of the corporate’s income expectations. “Now we have seen the macroeconomic backdrop change into considerably tougher for us beginning in June because the greenback’s appreciation and excessive inflation have adversely affected client sentiment globally, significantly within the classes during which we play,” Spence mentioned in.
Throughout a name on Wednesday afternoon, outgoing CFO Brittany Bagley mentioned Sonos is at the moment holding onto extra stock than it might like and faces a “difficult This autumn.” The corporate pointed to gentle demand foras one motive for its income miss. However Sonos partially blamed that on a slowdown in TV gross sales, and the corporate voiced optimism that the Ray will finally show very profitable as its entry-level soundbar on account of constructive opinions and its interesting worth.