sonos inc shares tumbled more than 18 in afterhours trading wednesday after the maker of smart speakers and other audio equipment fell short of expectations for its latest quarter and cut its forecast amid a “significantly more challenging” macroeconomic environment the company generated a fiscal thirdquarter net loss of 600000 or breakeven on a pershare basis versus net income of 178 million or 12 cents a share in the yearprior quarter analysts tracked by factset were anticipating 6 cents a share in gaap earnings on an adjusted basis sonos sono earned 19 cents a share compared with 27 cents in the yearprior period the factset consensus was for 21 cents in adjusted earnings per share revenue fell to 372 million from 379 million and came in below the 424 million that analysts had been projecting “we have seen the macroeconomic backdrop become significantly more challenging for us starting in june as the dollar’s appreciation and high inflation have adversely affected consumer sentiment globally particularly in the categories in which we play” chief executive patrick spence said in a release for the full fiscal year sonos executives anticipate revenue of 173 billion to 176 billion below the previous outlook which was for 195 billion to 200 billion don’t miss apple is the safest play in consumer hardware but isn’t immune to this one ‘growing risk’ executives also anticipate 215 million to 230 million in adjusted earnings before interest taxes depreciation and amortization ebitda for the full fiscal year that is also below the company’s prior forecast which was for 290 million to 310 million “we expect to weather the current environment while operating from a position of strength we are profitable we are debtfree and we have a huge market opportunity” spence said in the statement “we are tightly focused on expenses while prudently and deliberately investing in a number of products and initiatives in new and existing categories that we believe customers will love and will drive our longterm success” the company added that given the “uncertain and evolving macroeconomic backdrop the timeline to achieve the company’s previously issued targets of 25 billion revenue 4547 gross margins and 1518 adjusted ebitda margins is being extended beyond fy2024” sonos also announced that chief financial officer brittany bagley is leaving “to pursue another professional opportunity” and will be replaced by chief legal officer eddie lazarus on an interim basis at the start of september separately axon enterprise inc axon announced in its own release that bagley would be joining the company as chief financial officer and chief business officer shares of sonos have gained 95 over the past three months as the sp 500 spx has increased 52