Sonos files to go public, expected to make $1 billion in revenue in 2018
The company plans on raising as much as $100 million for its IPO.
On Friday morning, July 6, Sonos officially filed to become a publically traded company.
Sonos will be traded on Nasdaq as SONO and plans on raising as much as $100 million leading up to its IPO (initial public offering). However, as noted by MarketWatch, “that amount was estimated as a placeholder amount.”
As for Sonos’s performance, things are looking good for the company. There was a total net loss reported of $14.2 million for its fiscal year in 2017, but that’s down considerably compared to a net loss of $38.2 million for its fiscal 2016 year. Going back all the way to 2015, Sonos saw a loss of $68.8 million.
Moving over to revenue, Sonos has generated an impressive $992.5 million for its fiscal 2017 year which is up quite a bit from the $901.3 million and $843.5 million it saw in 2016 and 2015, respectively.
As for when Sonos will go public, MarketWatch once again notes that:
The company is looking to go public at a time that the Renaissance IPO ETF has gained 6.3% over the past three months and the S&P 500 has tacked on 5.1%.
Sonos Beam review: Raising the sound bar