Tom Conrad emphasizes his commitment to Sonos' core principles of craftsmanship, customer-first design, and innovation.
He describes his vision of transforming Sonos into a platform company with a growing ecosystem of hardware and software.
Conrad highlights the importance of a product and software-driven reinvention, with a focus on delivering new experiences and expanding into new categories like headphones.
Adjusted EBITDA was $36 million, at the high end of guidance, despite revenue declines, driven by expense discipline.
Free cash flow improved to $33 million from negative $65 million last quarter, with CapEx at $5 million.
GAAP operating expenses were $153 million, down 15% year-over-year; non-GAAP operating expenses were $131 million, also down 15%, and $9 million below guidance.
Gross margin was 43.4% GAAP and 44.7% non-GAAP, with tariff expenses impacting gross margin by 60 basis points.
Net cash increased by $30 million sequentially to $254 million, including $53 million in marketable securities.
Sonos reported Q3 2025 revenue of $345 million, exceeding the high end of guidance and declining 13% year-over-year, but better than the expected 22% to 14% decline range.
Leidos' Strategic Focus on North Star 2030 Growth Pillars
Leidos is aligning all efforts around its North Star 2030 strategy, which includes five growth pillars: space and maritime, energy infrastructure, digital modernization and cyber, mission software, and managed health services.
Management emphasizes ongoing validation of these pillars through multiyear funding, notably from the One Big Beautiful Bill, which supports programs in space, maritime, mission software, TSA airport security modernization, border security, and veteran health services.
The strategy aims to leverage government funding and priorities to drive long-term growth and innovation.
Strategic Focus on High-Value Technologies and Portfolio Rationalization
onsemi is actively exiting noncore businesses and repositioning its sensing portfolio towards higher value segments such as ADAS and machine vision.
The company is ending the end-of-life of certain legacy products, with an expected $50-100 million revenue impact in 2026 that won't repeat.
Investments are focused on next-generation technologies where the company has clear competitive advantages, including intelligent power, sensing, and analog mixed signal technologies.
Dafinchi