NEW YORK, May 26, 2026, 12:04 (EDT)
Sonos Inc. shares climbed 3.6% to $16.07 in late-morning trading Tuesday, outpacing the broader tech tape as the Nasdaq-listed speaker maker reopened after the U.S. long weekend. The stock traded between $15.57 and $16.21, with Sonos valued at about $1.93 billion.
The timing matters. Sonos Chief Financial Officer Saori Casey is due to appear Wednesday in a fireside chat with Jefferies analyst Brent Thill, giving investors a fresh forum for questions on demand, product timing and component costs. The company says its connected audio system is used by more than 17 million households in over 60 countries.
Nasdaq’s equity market was closed Monday for Memorial Day and resumed regular trading Tuesday, making this the first full session after the holiday break.
The move stood out against larger consumer-hardware names. Apple, which competes in connected home devices and audio, rose about 0.6%, while Logitech, a maker of audio and computer peripherals, fell 1.5%. The Invesco QQQ Trust, a Nasdaq-100 proxy often used as a quick read on large technology shares, was up 1.3%.
Sonos is trying to show that its recovery has legs after a better fiscal second quarter. Revenue rose 8% from a year earlier to $281.5 million, gross margin was 44.3%, and adjusted EBITDA was $2 million. Adjusted EBITDA means earnings before interest, tax, depreciation and amortization, with some costs stripped out; investors use it as a rough gauge of operating profit.
Chief Executive Tom Conrad told investors Sonos had “changed the trajectory of the business,” while Casey said the quarter marked a “seventh consecutive quarter” of execution against commitments. Casey said first-half adjusted EBITDA rose 48%, helped by higher gross profit dollars and lower operating expenses.
The next guidepost is guidance. Sonos expects fiscal third-quarter revenue of $355 million to $375 million, representing growth of 3% to 9% from a year earlier, and adjusted EBITDA of $20 million to $48 million. The company said Amp Multi, a professional-installer product, will not add revenue in the quarter and is slated for the fall.
Wall Street is still mostly constructive, though not uniformly so. Four analysts polled by S&P Global carry an average Buy rating and a $19.13 price target, according to StockAnalysis; it lists Morgan Stanley at Hold with an $18 target on May 6 and Rosenblatt at Buy with a $21 target on May 5.
But the rally has a clear risk. Sonos warned that higher memory costs would be an approximately 400-basis-point drag in Q3 — a basis point is one-hundredth of a percentage point — and that memory inflation could pressure gross margin further in Q4. Conrad told analysts “memory headwinds are real,” though he said Sonos felt good about supply for the back-half product ramp.
That leaves the stock tied to a narrow question: whether product demand and operating discipline can offset higher parts costs. A clean update from Casey on Wednesday could support the post-earnings recovery. Any sign that margins are slipping faster than planned would make the move harder to hold.
