Immediately after reporting bumpy third quarter earnings on Wednesday, Sonos declared that it has made a decision to thrust back a merchandise launch that was originally penciled in for the near future. The solution in dilemma is nearly certainly the prolonged-awaited Sub Mini, a extra very affordable subwoofer that would be a part of the company’s residence theater lineup along with the present $749 Sub.
The Sub Mini appeared at the FCC in June. If Sonos experienced adopted its typical window of time involving that filing and a client launch, the products would’ve been arriving rather before long. But Sonos suggests it is now been delayed until eventually the fiscal initial quarter of 2023. “We usually take into account the kind of solution that it is, and the timing,” CEO Patrick Spence reported on the call. “We remain fully commited to two new products launches every single yr.”
Sonos spokesperson Erin Pategas verified the information to The Verge in an e-mail, indicating “I can verify we made a decision to push an anticipated product start from Q4 ’22 into Q1 ’23.” That would put its rescheduled arrival sometime in between Oct and December.
Sonos’ Q3 earnings were properly off the mark of the company’s income expectations. “We have seen the macroeconomic backdrop become appreciably more challenging for us commencing in June as the dollar’s appreciation and higher inflation have adversely impacted shopper sentiment globally, particularly in the categories in which we engage in,” Spence stated in the company’s earnings release.
All through a call on Wednesday afternoon, outgoing CFO Brittany Bagley said Sonos is at this time holding on to extra inventory than it would like and faces a “challenging Q4.” The business pointed to comfortable demand for the $179 Sonos Ray soundbar as just one rationale for its income overlook. But Sonos partly blamed that on a slowdown in Tv profits, and the corporation voiced optimism that the Ray will in the end show pretty prosperous as its entry-amount soundbar on account of good testimonials and its desirable value.