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Sonos Investor Event Provides First Comprehensive Overview for Investors Since its IPO and Introduces Fiscal Year 2024 Financial Targets Ahead of Prior Long - Term Targets Mar 9 , 2021 SANTA BARBARA , Calif .-- ( BUSINESS WIRE ) -- Sonos , Inc. ( NASDAQ : SONO ) announced that it is hosting a virtual investor event today at 4:00 pm EST ( 1:00 pm PST ) to provide a comprehensive update on its business and financial outlook for fiscal year 2024. The event is accessible at the Sonos Investor Relations website . The company is also introducing Sonos Roam TM , the ultra - portable smart speaker built to deliver great sound at home and on any adventure . fully connected to your Sonos system on WiFi at home and automatically switching to Bluetooth when you're on the go , Roam's powerful , adaptable sound defies expectations for a speaker of its size . Roam is available starting April 20 for $ 169 MSRP and customers can pre - order today on . For full product details visit the . Highlights Sonos is just getting started . The company believes it's just scratching the surface of its long - term opportunity . Sonos was in 11 million homes at the end of fiscal year 2020 , representing only approximately 9 % of the 116 million affluent homes in its existing markets¹ . On the revenue side , Sonos accounted for approximately 7 % of the total spend in the $ 18 billion premium home audio market in 2020² , and expects to expand into the broader $ 89 billion global audio opportunity over the long - term . • Sonos has a unique model that serves customers and enables it to continue building a sustainable , profitable business . Sonos believes the power of its business model is that customers can start with one product and expand to more over time , and its customers have proven they do just that . The company has increased its efficiency in attracting new customers , and existing and new customers continue to add additional Sonos products over time as they build out their system . Customers who purchased products in 2005 , the year Sonos shipped its first product , have continued to return through 2020 to add additional ones , illustrating the power and longevity of the company's model . • Sonos plans to seize this opportunity by focusing on three key strategic initiatives . • Expanding its Brand • Expanding its Offerings • Driving Operational Excellence . Fiscal 2024 Targets Today , Sonos is sharing its financial targets for fiscal year 2024 which are ahead of long - term targets provided in 2018 in conjunction with its initial public offering . Despite the uncertainty that continues to exist in the broader macro environment , Sonos believes it can deliver the following financial targets in fiscal year 2024 : • • Revenue of $ 2.25 billion , representing a 13 % CAGR based on the midpoint of its fiscal 2021 guidance and ahead of its prior long- term target of 10 % CAGR . Gross margin in the range of 45 % to 47 % , despite product and channel mix shifts the company expects to achieve this range in each fiscal year . This gross margin range is ahead of the company's prior long - term gross margin target of 42 % to 44 % . Adjusted EBITDA margin in the range of 15 % to 18 % , driven by growth and leverage of existing operating expense , and ahead of the company's prior long - term adjusted EBITDA margin target of 13 % to 15 % . Additional Event Details