Sonos shares rise 10.05% intraday after reporting Q1 non-GAAP EPS of $0.93 and revenue of $545.66 million, both above estimates.

Sonos surged 10.05% intraday as its Q1 non-GAAP EPS of $0.93 and revenue of $545.66 million exceeded expectations, with adjusted EBITDA growing 45% year-over-year. The company reported a GAAP net income of $94 million and a non-GAAP gross margin of 47.5%. The company’s first-quarter non-GAAP earnings per share (EPS) of $0.93 surpassed the consensus estimate of $0.64, while revenue of $545.662 million outperformed the projected $536.925 million. Additionally, adjusted EBITDA rose 45% year-over-year, and GAAP net income reached $94 million, reflecting improved profitability. The non-GAAP gross margin also increased to 47.5%, highlighting operational efficiency.