Sonos Q4 Revenue Falls 8% YoY to $1.5B, Spent $4M on App Recovery with 16 Updates

Sonos has reported a decline in revenue for the fourth quarter, with figures down 8% year-over-year to $1.5 billion. This downturn is attributed to a series of challenges stemming from a problematic app launch that has affected the company over the past few years. In response to the app issues, Sonos invested $4 million in recovery efforts, which included the release of 16 app updates aimed at restoring functionality. Currently, the company has reportedly restored 90% of the missing features that were impacted by the app debacle. Despite these challenges, Sonos's forecast for the holiday quarter has positively influenced its stock performance, although the repercussions from the app fiasco continue to be felt.