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Sonos IPO - Investment case Presentation

Research

Publication Date: 20 Sep 2018 - By Robert Prather By Robert Prather
Actionable
Differentiated

Equity Fundamental IPO & Placements Equity USA Technology Consumer

 

Sonos, founded in 2002, debuted the world's first wireless multi-room home sound system in 2005 and since has been a leading innovator in wireless home audio. It also launched its first voice-enabled wireless speaker in October 2017 and voice-enabled home theater speakers in July 2018. It partners with over 100 streaming content providers such as Apple Music, Pandora, Spotify, TuneIn etc. and with voice-assistants Amazon Alexa and Apple's Siri.

 

Please download the full report for more information on the outline below.

 

Strengths & Opportunities

  • Steady growth track record
  • Strong user base
  • Rapid adoption of streaming services and voice assistants offer strong long-term tailwinds
  • Sonos integrating with other voice-assistants in addition to Alexa

Risks & Concerns

  • Smart connected speakers market is very crowded and highly competitive
  • Competitors including Amazon and Google offering products at significantly lower price points
  • Amazon and Google expected to continue dominating the market
  • Sales seem to have slowed down
  • Sonos seems to have increased incentives for retailers and distributors to push inventory
  • Pricing pressure

 

 

Sonos IPO

Source: VR Fundamental

Pages: 52

Released: 20 Sep 2018

Unlock for 10 credits

The Author

Robert Prather

Equity Analyst

Technology, Consumer, Industrials, Telecom & Media

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