10-Q Filing

SONOS INC CIK: 1314727 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001314727-20-000014`
Period End Date	20191231
Filing Date	20200206
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	a10-qq1fy20_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 48 Cash Flow Statement 66 Stockholders Equity 19

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$408.42M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$338.64M	USD	Point-in-time
Restricted cash	`RestrictedCashCurrent`	$183.00K	USD	Point-in-time
Restricted cash	`RestrictedCashCurrent`	$179.00K	USD	Point-in-time
Accounts receivable, net of allowances	`AccountsReceivableNetCurrent`	$102.74M	USD	Point-in-time
Accounts receivable, net of allowances	`AccountsReceivableNetCurrent`	$135.90M	USD	Point-in-time
Inventories	`InventoryNet`	$113.12M	USD	Point-in-time
Inventories	`InventoryNet`	$219.78M	USD	Point-in-time
Prepaids and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$30.99M	USD	Point-in-time
Prepaids and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$17.76M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$679.11M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$688.61M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$78.14M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$81.47M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$60.01M	USD	Point-in-time
Intangible assets and goodwill	`IntangibleAssetsNetIncludingGoodwill`	$40.54M	USD	Point-in-time
Intangible assets and goodwill	`IntangibleAssetsNetIncludingGoodwill`	$1.02M	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$1.15M	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$1.13M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$2.17M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$2.19M	USD	Point-in-time
Total assets	`Assets`	$873.93M	USD	Point-in-time
Total assets	`Assets`	$761.61M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$251.94M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$191.36M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$69.86M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$90.82M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$41.14M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$28.34M	USD	Point-in-time
Short-term debt	`DebtCurrent`	$9.44M	USD	Point-in-time
Short-term debt	`DebtCurrent`	$8.33M	USD	Point-in-time
Deferred revenue, current	`ContractWithCustomerLiabilityCurrent`	$14.60M	USD	Point-in-time
Deferred revenue, current	`ContractWithCustomerLiabilityCurrent`	$13.65M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$17.55M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$40.55M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$375.12M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$402.47M	USD	Point-in-time
Operating lease liabilities, noncurrent	`OperatingLeaseLiabilityNoncurrent`	$58.59M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$24.84M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$23.19M	USD	Point-in-time
Deferred revenue, noncurrent	`ContractWithCustomerLiabilityNoncurrent`	$42.80M	USD	Point-in-time
Deferred revenue, noncurrent	`ContractWithCustomerLiabilityNoncurrent`	$47.04M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$2.71M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$10.57M	USD	Point-in-time
Total liabilities	`Liabilities`	$480.68M	USD	Point-in-time
Total liabilities	`Liabilities`	$506.65M	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value	`CommonStockValue`	$110.00K	USD	Point-in-time
Common stock, $0.001 par value	`CommonStockValue`	$111.00K	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$18.58M	USD	Point-in-time
Treasury stock	`TreasuryStockValue`	$13.50M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$523.93M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$502.76M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-137.60M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-208.38M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-64.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-583.00K	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$367.28M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$280.03M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$208.36M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$280.93M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$761.61M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$873.93M	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$562.08M	USD	1 Quarter
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$496.37M	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$334.46M	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$301.08M	USD	1 Quarter
Gross profit	`GrossProfit`	$227.62M	USD	1 Quarter
Gross profit	`GrossProfit`	$195.29M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$37.09M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$52.53M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$65.85M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$77.42M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$23.82M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$30.21M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$126.77M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$160.16M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$68.52M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$67.46M	USD	1 Quarter
Interest income	`InterestIncomeExpenseNonoperatingNet`	$273.00K	USD	1 Quarter
Interest income	`InterestIncomeExpenseNonoperatingNet`	$998.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$453.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$671.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-4.00M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$4.42M	USD	1 Quarter
Total other income (expense), net	`NonoperatingIncomeExpense`	$4.97M	USD	1 Quarter
Total other income (expense), net	`NonoperatingIncomeExpense`	$-4.40M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$72.43M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$64.12M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.46M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.66M	USD	1 Quarter
Net income	`NetIncomeLoss`	$61.67M	USD	1 Quarter
Net income	`NetIncomeLoss`	$70.78M	USD	1 Quarter
Basic	`NetIncomeLossAvailableToCommonStockholdersBasic`	$70.78M	USD	1 Quarter
Basic	`NetIncomeLossAvailableToCommonStockholdersBasic`	$61.67M	USD	1 Quarter
Diluted	`NetIncomeLossAvailableToCommonStockholdersDiluted`	$70.78M	USD	1 Quarter
Diluted	`NetIncomeLossAvailableToCommonStockholdersDiluted`	$61.67M	USD	1 Quarter
Basic (in USD per share)	`EarningsPerShareBasic`	$0.65	USD	1 Quarter
Basic (in USD per share)	`EarningsPerShareBasic`	$0.62	USD	1 Quarter
Diluted (in USD per share)	`EarningsPerShareDiluted`	$0.60	USD	1 Quarter
Diluted (in USD per share)	`EarningsPerShareDiluted`	$0.55	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	100.15M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	108.98M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	112.09M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	118.42M	shares	1 Quarter
Net income	`NetIncomeLoss`	$61.67M	USD	1 Quarter
Net income	`NetIncomeLoss`	$70.78M	USD	1 Quarter
Change in foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$509.00K	USD	1 Quarter
Change in foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-519.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$70.26M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$62.18M	USD	1 Quarter

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$61.67M	USD	1 Quarter
Net income	`NetIncomeLoss`	$70.78M	USD	1 Quarter
Depreciation	`Depreciation`	$9.11M	USD	1 Quarter
Depreciation	`Depreciation`	$9.87M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$13.20M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$9.03M	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$1.47M	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$475.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$226.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$51.00K	USD	1 Quarter
Foreign currency transaction (gain) loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$1.92M	USD	1 Quarter
Foreign currency transaction (gain) loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$-1.32M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$49.32M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$31.41M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$-107.34M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$-81.62M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$3.09M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$11.85M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-21.41M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-39.42M	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-14.57M	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-14.45M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$4.60M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$4.88M	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$11.18M	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$11.53M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$118.84M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$92.05M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.37M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$15.91M	USD	1 Quarter
Cash paid for acquisition, net of acquired cash	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$35.62M	USD	1 Quarter
Cash paid for acquisition, net of acquired cash	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-51.54M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.37M	USD	1 Quarter
Repayments of borrowings	`RepaymentsOfDebt`	$1.67M	USD	1 Quarter
Repayments of borrowings	`RepaymentsOfDebt`	-	USD	1 Quarter
Payments for purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$5.08M	USD	1 Quarter
Payments for purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Proceeds from exercise of common stock options	`ProceedsFromStockOptionsExercised`	$7.97M	USD	1 Quarter
Proceeds from exercise of common stock options	`ProceedsFromStockOptionsExercised`	$462.00K	USD	1 Quarter
Payments of offering costs	`PaymentsOfStockIssuanceCosts`	-	USD	1 Quarter
Payments of offering costs	`PaymentsOfStockIssuanceCosts`	$567.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-105.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.22M	USD	1 Quarter
Effect of exchange rate changes on cash, cash equivalents and restricted cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-133.00K	USD	1 Quarter
Effect of exchange rate changes on cash, cash equivalents and restricted cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.25M	USD	1 Quarter
Net increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$69.78M	USD	1 Quarter
Net increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$86.44M	USD	1 Quarter
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$221.12M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$408.60M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$338.82M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$307.56M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$221.12M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$408.60M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$338.82M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$307.56M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$472.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$658.00K	USD	1 Quarter
Cash paid for taxes, net of refunds	`IncomeTaxesPaidNet`	$1.31M	USD	1 Quarter
Cash paid for taxes, net of refunds	`IncomeTaxesPaidNet`	$517.00K	USD	1 Quarter
Cash paid for amounts included in the measurement of lease liabilities	`LeaseLiabilitiesPaidNet`	$4.30M	USD	1 Quarter
Purchases of property and equipment in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$7.91M	USD	1 Quarter
Purchases of property and equipment in accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$2.80M	USD	1 Quarter
Right-of-use assets obtained in exchange for new operating lease liabilities	`RightOfUseAssetsObtainedInExchangeForOperatingLeaseLiabilities`	$74.68M	USD	1 Quarter
Deferred offering costs in accounts payable and accrued expenses	`DeferredStockIssuanceCosts`	$18.00K	USD	1 Quarter
Deferred offering costs in accounts payable and accrued expenses	`DeferredStockIssuanceCosts`	-	USD	1 Quarter

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Balance, beginning of period	`StockholdersEquity`	$367.28M	USD	Point-in-time
Balance, beginning of period	`StockholdersEquity`	$280.03M	USD	Point-in-time
Balance, beginning of period	`StockholdersEquity`	$208.36M	USD	Point-in-time
Balance, beginning of period	`StockholdersEquity`	$280.93M	USD	Point-in-time
Issuance of common stock pursuant to equity incentive plans (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	1.14M	shares	1 Quarter
Issuance of common stock pursuant to equity incentive plans	`StockIssuedDuringPeriodValueStockOptionsExercised`	$7.97M	USD	1 Quarter
Issuance of common stock pursuant to equity incentive plans	`StockIssuedDuringPeriodValueStockOptionsExercised`	$462.00K	USD	1 Quarter
Purchase of treasury stock (in shares)	`TreasuryStockSharesAcquired`	227,241.00	shares	1 Quarter
Purchase of treasury stock	`TreasuryStockValueAcquiredCostMethod`	$5.08M	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$13.20M	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$9.03M	USD	1 Quarter
Net income	`NetIncomeLoss`	$61.67M	USD	1 Quarter
Net income	`NetIncomeLoss`	$70.78M	USD	1 Quarter
Change in foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$509.00K	USD	1 Quarter
Change in foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-519.00K	USD	1 Quarter
Balance, ending of period	`StockholdersEquity`	$367.28M	USD	Point-in-time
Balance, ending of period	`StockholdersEquity`	$280.03M	USD	Point-in-time
Balance, ending of period	`StockholdersEquity`	$208.36M	USD	Point-in-time
Balance, ending of period	`StockholdersEquity`	$280.93M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.