Sonos Inc (0ZFN.L) Q2 2025 Earnings Report

Sonos Inc reported QQ2 2025 revenue of USD 259.8 million, up 2.8% year-over-year but down 52.9% quarter-over-quarter. The quarter delivered a gross profit of USD 113.6 million, representing a gross margin of 43.7%. However, operating income remained negative at USD -61.2 million and the company posted a net loss of USD -70.1 million, translating to an EPS of -0.58. EBITDA was USD -43.9 million, underscoring continued profitability headwinds despite revenue resilience in the year-over-year frame. Free cash flow was negative at USD -65.2 million, and operating cash flow also declined to USD -59.7 million. On the balance sheet, Sonos maintains strong liquidity with USD 173.2 million in cash and cash equivalents and USD 50.3 million in short-term investments, yielding net cash of USD -110.1 million after accounting for debt, and a cash balance plus short-term investments of USD 223.5 million. Total debt stands at USD 63.0 million, producing a net debt position of USD -110.1 million. The liquidity cushion supports ongoing investment while the business navigates near-term profitability challenges. The company’s second-quarter performance reflects a mix of seasonal effects, higher operating expenses, and a still-elevated cost base relative to revenue, suggesting that sustained profitability hinges on revenue growth, margin stabilization, and tighter cost control.