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EX - 99.1 2 snpofq22021 earningsrelea.htm EX - 99.1 snap one Snap One Reports Fiscal Second Quarter 2021 Results Strong Operating Results Reflect Robust Demand for Smart Living Solutions , Leading to 34 % Increase in Net Sales , 67 % Decrease in Net Loss , and 20 % Increase in Adjusted EBITDA First Half of the Year Highlighted by Strategic Acquisition of Access Networks , Expansion of Omni - Channel Presence into Five New Domestic Markets , Corporate Rebranding , and Successful Initial Public Offering and Public Listing CHARLOTTE , N.C. - August 26 , 2021 - Snap One Holdings Corp. ( NASDAQ : SNPO ) ( " Snap One , " the " Company , " " we " or " our " ) , a provider of smart living products , services , and software to professional integrators , reported financial results for the fiscal second quarter ended June 25 , 2021 . Recent Operational Highlights ⚫ July : Completed successful initial public offering of 15,020,812 primary shares of common stock at $ 18.00 per share , resulting in gross proceeds to the Company of approximately $ 270 million ( inclusive of the shares issued in connection with the partial exercise of the underwriters ' option to purchase additional shares in August ) , before deducting underwriting discounts and commissions and other offering expenses . Snap One used the net proceeds from the offering to repay a portion of the term loan under its credit agreement plus accrued interest thereon and intends to use the remainder for general corporate purposes . • June : Rebranded as Snap One ( formerly SnapAV ) to reflect the Company's aspiration to be the one partner that professional integrators need for every job . The Company is dedicated to keeping things simple by providing exceptional product quality and selection , premium service and support , and an omni - channel shopping experience . ⚫ June : Recognized as the # 1 and / or # 2 brand 36 times across 62 identified product sub - categories in the 2021 CE Pro 100 Brand Analysis Awards . The awards reflect the strength of Snap One's proprietary product brands by vote of the top 100 integrators in the industry as defined by CE Pro . The Company earned approximately five times the number of # 1 and / or # 2 awards as the next most awarded competitor . This follows Snap One's record performance in CE Pro's 2021 Quest for Quality Awards , which were released in March , recognizing the best service providers to integrators . Snap One was recognized for 16 awards , approximately twice as many as the next most awarded competitor . Together , these awards demonstrate the Company's leadership position in the market and competitive differentiation across products and services . ⚫ June : Upgraded new Control4 OS 3.2.2 software to provide full support for OvrC remote management to Control4 controllers . This enhancement , envisioned at the time of the Control4 acquisition , strengthens Snap One's commitment to make life simpler for integrators by offering them the ability to remotely manage and service clients ' Control4 connected devices through the OvrC platform . With increased system visibility , integrators can more easily offer service contracts , troubleshoot devices , and reduce service calls . • May : Acquired ANLA , LLC ( " Access Networks " ) , an enterprise - grade networking solutions provider offering networking products , design , configuration , monitoring and support services . This acquisition enhances Snap One's networking solutions for residential and commercial applications . Also in May , the Company announced a significant investment in Parasol , an industry leading provider of 24/7 remote support solutions that improve integrator productivity and service levels . Both actions provide further momentum for Snap One's long - term strategy to support integrator customers over the project lifecycle .