Sonos is feeling chipper about its latest financial results: the speaker-maker’s revenues grew by 25% year-on-year to $260m in the second quarter of 2019, including a 61% bump for sales (in dollar terms) of its Sonos One speaker.
Sonos sold just under 1.1m products in the last quarter (its fiscal Q3) across its wireless speakers, home theatre speakers and components categories. This didn’t make the company profitable, but Sonos did narrow its net loss from $27m a year ago to $14m last quarter.
In his introduction to the figures, CEO Patrick Spence spent a lot of time talking up Sonos’ partnership with retailer Ikea, including for a $99 ‘book-shelf’ speaker. “The $99 price point is particularly interesting, as we believe it has the potential to significantly expand our audience by bringing the Sonos experience into millions of new homes that our current portfolio does not address,” he wrote.
In separate news, Sonos has sent journalists an invitation to a two-day media event in New York later this month, sparking expectations that the company will be unveiling new products ahead of Christmas.