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How Sonos (SONO) makes money

Sonos (SONO) made $375M of revenue in the third quarter fiscal 2026 (Q3 FY26), +9% from a year earlier. Sonos speakers brought in $285M (76%); Sonos system products brought in $69.3M (18%); Partner products and other revenue brought in $20.7M (6%). Of every dollar of revenue, 50¢ was left as gross profit, 8¢ was left as operating profit, 8¢ was left as net earnings.

Drawing the Sankey…

Sonos revenue by segment, Q3 FY26Sonos revenue by segment, Q3 FY26Sonos speakers$285MSonos system products$69.3MPartner products and other revenue$20.7M
Sonos: revenue by line, Q4 FY24 to Q3 FY26Sonos: revenue by line, Q4 FY24 to Q3 FY26Sonos speakersSonos system productsPartner products and …Sonos speakers: $285M latest$285MSonos system products: $69.3M latest$69.3MPartner products and other revenue: $20.7M latestQ4 FY24Q2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26
Sonos speakers went from 70% of revenue in Q4 FY24 to 76% in Q3 FY26, the largest shift in the mix.
Sonos revenue by quarterSonos revenue by quarter$255MQ4 FY24$260MQ2 FY25$345MQ3 FY25$288MQ4 FY25$546MQ1 FY26$282MQ2 FY26$375MQ3 FY26
Sonos: where each dollar of revenue goesSonos: where each dollar of revenue goesCost of revenue50¢Gross profit50¢Operating expenses42¢Operating profit8¢Income tax1¢Net earnings8¢Operating cash flow12¢Free cash flow11¢

Revenue by segment, Q3 FY26

SegmentRevenueShareQ/QY/Y
Sonos speakers$285M76.0%+36%+12%
Sonos system products$69.3M18.5%+32%-5%
Partner products and other revenue$20.7M5.5%+8%+15%

Where each dollar of revenue goes

LineQ3 FY26% of revenue
Revenue$375M100.0%
Cost of revenue$186M49.6%
Gross profit$189M50.4%
Operating expenses$158M42.0%
Operating profit$31.5M8.4%
Income tax$4.4M1.2%
Net earnings$29.9M8.0%
Operating cash flow$46.2M12.3%
Free cash flow$40.3M10.7%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q3 FY26$375M+9%
Q2 FY26$282M+8%
Q1 FY26$546M-0.9%
Q4 FY25$288M+13%
Q3 FY25$345M-13%
Q2 FY25$260M+3%
Q4 FY24$255M-16%

From Sonos' 10-Q filed Jul 29, 2026 (on EDGAR).

Questions

How does Sonos make money?

Sonos (SONO) made $375M of revenue in the third quarter fiscal 2026 (Q3 FY26), +9% from a year earlier. Sonos speakers brought in $285M (76%); Sonos system products brought in $69.3M (18%); Partner products and other revenue brought in $20.7M (6%). Of every dollar of revenue, 50¢ was left as gross profit, 8¢ was left as operating profit, 8¢ was left as net earnings.

What is Sonos' biggest business?

Sonos speakers: $285M in the third quarter fiscal 2026, 76% of revenue, +12% from a year earlier.

What is Sonos' profit margin?

Net earnings were $29.9M, 8.0% of revenue, in the third quarter fiscal 2026; the operating margin was 8.4%.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.