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Thursday, May 19, 2022

Snap One Holdings Corp. (SNPO) stock plunged in the Current Market; here is why?

Snap One Holdings Corp. (SNPO) stock declined in the current market after announcing its fourth quarter and fiscal 2021 results. SNPO’s share price is $16.60, losing more than 19.02% compared to yesterday’s closing price. SNPO stock closed at $20.50 at the end of the last trading session. SNPO stock volume traded in the previous trading session was around 106.64K shares. The current market cap of the company is about $1.36 billion.


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SNPO: Q4 and Fiscal 2021 Key Financials

  • Snap One Holdings’ revenue in Q4 2021 was $273.5 million. It is an increase of more than 21% compared to the revenue of $226.1 million in Q4 2020.
  • Fiscal 2021 revenue was $1 billion, comparatively more than the revenue of $814.1 million in fiscal 2020.
  • The company’s net loss in Q4 2021 was around $7.8 million, more than compared to the net loss of $4.4 million in Q4 2020.
  • SNPO’s net loss in fiscal 2021 was around $36.5 million, and net loss increased significantly compared to the net loss of $25.2 million in fiscal 2020.
  • Basic and Diluted Loss per share in Q4 and fiscal 2021 were $0.11 and $0.56, respectively.
  • The company had cash and cash equivalents of $40.6 million as of December 25, 2021.

SNPO CEO’s Remarks

Snap One CEO John Heyman said that the company had a great fourth quarter and year-end earnings while making significant progress on its organizational objectives. Achieving excellent service and support to integrators and end-users has been a challenge for our team in 2021. To prepare for our new adventure as a public business, we have extended our distribution network invested heavily in our product line and software capabilities.

SNPO Major Acquisitions

Snap One Holdings Corporation (SNPO) completed the acquisition of HCA Distributing in April 2021. The corporation bought Access Networks in May 2021, and the company acquired Staub Electronics in January 2022, representing the most recent development.

SNPO 2022 Outlook

A 13% to 16% rise in net sales is expected by Snap One Holdings for the fiscal year ending December 30, 2022, compared to the preceding fiscal year. For 2022, they estimate adjusted EBITDA to be between $114 million and $120 million, up 3 to 8% over the preceding year.

Conclusion

Its financial statement represents a loss in the year 2022; as a result, its stock plunged in today’s trading session. However, the good news is that the company has completed a few acquisitions, which will help them regain its growth rate soon.

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