NEW YORK, May 26, 2026, 12:04 (EDT)
Sonos Inc. (SONO) was up 3.6% at $16.07 late Tuesday morning, moving ahead of the tech sector. The Nasdaq speaker company reopened after the U.S. holiday break. Shares moved between $15.57 and $16.21. Market cap stood near $1.93 billion.
Timing could play a part. Sonos CFO Saori Casey is set to join Jefferies analyst Brent Thill on Wednesday for a fireside chat, offering investors a chance to ask about demand, product schedules and component costs. Sonos says its connected audio products are in use in more than 17 million homes across over 60 countries.
Nasdaq’s stock market reopened Tuesday after being closed for Memorial Day. This was the first regular trading day after the holiday.
Apple edged up 0.6% as the stock traded higher. Logitech dropped 1.5%. The Invesco QQQ Trust, which tracks the Nasdaq-100, added 1.3%. The move came as these bigger hardware names showed different directions.
Sonos posted stronger fiscal Q2 numbers as it looks to prove its turnaround is real. Revenue was up 8% on the year to $281.5 million. Gross margin came in at 44.3%. Adjusted EBITDA reached $2 million. Adjusted EBITDA—earnings before interest, tax, depreciation and amortization, with some items excluded—is a proxy for operating profit.
Sonos CEO Tom Conrad told investors the company had “changed the trajectory of the business.” CFO Casey called it a “seventh consecutive quarter” delivering on commitments. She said adjusted EBITDA for the first half rose 48%, driven by higher gross profit and lower operating costs.
Sonos gave guidance for its fiscal third quarter, telling investors to expect revenue in a range of $355 million to $375 million, or 3% to 9% growth year over year. Adjusted EBITDA is forecast at $20 million to $48 million. The company said Amp Multi, which targets pro installers, won’t bring in revenue this quarter and is set for release in the fall.
Wall Street remains mostly positive, if not completely unanimous. Four analysts polled by S&P Global give an average Buy and a $19.13 target, StockAnalysis data show. Morgan Stanley is at Hold with an $18 target from May 6, while Rosenblatt is at Buy with a $21 target set on May 5.
But there’s a risk in the rally. Sonos has flagged higher memory costs as an estimated 400-basis-point hit in Q3 — with a basis point at one-hundredth of a percentage point — and said rising memory prices might keep pushing gross margin down in Q4. Conrad told analysts, “memory headwinds are real,” but said Sonos is comfortable with supply heading into the back-half ramp.
For now, the stock is stuck on a single issue—can demand and tighter operations balance out pricier parts? Traders are watching for a straightforward update from Casey on Wednesday to back up the rebound after earnings. But if margins are falling faster than expected, holding on to gains may get tougher.
