Skip to content
Subscriber Only

Sonos Targets Nearly Double Revenue by 2024, Unveils New Speaker

  • CEO sees potential for company in car, headphone markets
  • Home audio specialist prices new Roam portable speaker at $169
Video player cover image
Sonos 'Gets Outside the Home' With New Roam Speaker: CEO
Updated on

Sonos Inc. set a goal of $2.25 billion in annual revenue by fiscal year 2024 and introduced a new $169 portable speaker as the latest entrant in its catalog of high-end sound systems.

The company, which made its name as one of the early proponents of connected home speakers, generated $1.33 billion in revenue last year and prevously forecast sales rising past $1.5 billion in the current 2021 fiscal year. Sonos also Tuesday projected 2024 gross margins of 45% to 47%, and adjusted EBITDA margin of 15% and 18%.