Sonos' Revenue 'Flying' Due To Troubled Applications

The appearance of the Sonos application has lost many features (photo: dock. Sonos)

JAKARTA Sonos, an electronics company from California, shared a fourth-quarter earnings report for fiscal 2024. The report noted that Sonos' revenue had decreased.

Sonos revenue fell 8 percent year-on-year (yoy). According to the speaker manufacturer, this decline occurred due to lower demand than the previous year. In addition, challenging market conditions are also one of the factors.

Sonos menyadari bahwa masalah aplikasinya juga menjadi salah satu faktor dari turunnya pendapatan bulan ini. Pasalnya, perusahaan telah berinvestasi sebesar 4 juta dolar AS (Rp63 miliar) untuk memulihkan fungsi dan meningkatkan kinerja aplikasinya.

Although far from Sonos' previous estimates, namely the expenditure of recovery funds of up to 30 million US dollars (Rp477 billion), improvements to this application still have an impact on Sonos' income. At least 90 percent of the lost features have been recovered successfully.

"In the future, we will release major and minor versions alternately. This will allow us to maintain momentum to make improvements while ensuring adequate beta testing," Sonos said in a earnings report.

Sonos CEO Patrick Spence said they were still the best audio system despite the obstacles facing the company. Spence also stated that Sonos remains focused on producing the best line of products in the industry.

"Sonos' crazy wheels remain strong, as evidenced by the fact that the number of new products per house is increasing in the 2024 Fiscal Year. While the audio category as a whole continues to face obstacles, we believe that we are in a good position to take more from it over time," Spence explained.