Snap One Holdings Corp.
investors.snapone.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q1 FY2024 10-Q, filed May 8, 2024. Its latest SEC filing is a 15-12G from Jun 24, 2024.
10-Q for Q1 FY2024, filed May 8, 2024
The sections below describe the company as of the FY2023 annual report.
What Did They Do?
Sells proprietary and third-party smart-living products, software, and support services to professional integrators serving homes and businesses.
10-K for FY2023, filed Mar 8, 2024Snap One powers smart-living by enabling professional integrators to deliver seamless experiences in the connected homes and businesses…View ↗
We are vertically integrated, with the majority of our net sales and income from operations coming from our proprietary-branded, internally…View ↗
We sell products under our proprietary brands, as well as leading third-party products, to provide our end consumers with personalized…View ↗
Snap One powers smart-living by enabling professional integrators to deliver seamless experiences in the connected homes and businesses…View ↗
How Did They Make Money?
Integrators pay for hardware products when they ship. Customers pay for services over the contract period; some product bundles also include support and software updates paid over time.
10-K for FY2023, filed Mar 8, 2024Revenue Recognition — The Company sells hardware products to professional integrators, who then resell the products to end users in the…View ↗
For product sales, revenue is recognized when the customer obtains control of the product, which occurs upon shipment, in an amount that…View ↗
For hardware products sold with embedded software, the products are dependent on and highly interrelated with the underlying software and…View ↗
The Company offers a subscription service that allows consumers to control and monitor their homes remotely and allows the consumer’s…View ↗
$1.1B
-
10-K for FY2023, filed Mar 8, 2024
$1.1B ↗
| Segment | Share | Revenue |
|---|---|---|
|
Proprietary Products
|
66%
FY2020: 71%
|
Proprietary Products, FY2023
$699.2M Sources
|
|
Third Party Products
|
34%
FY2020: 29%
|
Third Party Products, FY2023
$361.8M Sources
|
Who Were Their Customers?
Professional integrators buy through Snap One’s e-commerce portal and local branches, using its products and services in systems they install for home and business consumers. In some cases, Snap One sells directly to end users; international sales also go through distributors.
10-K for FY2023, filed Mar 8, 2024Snap One powers smart-living by enabling professional integrators to deliver seamless experiences in the connected homes and businesses…View ↗
We support our integrators with a comprehensive suite of software and support solutions, and we engage with our integrators on an…View ↗
We transact with approximately 20,000 active domestic DIFM integrators across the home technology, security, and commercial markets, and we…View ↗
Our nationwide distribution network allows us to service integrators through reliable delivery and local fulfillment. Our proprietary…View ↗
Revenue Recognition — The Company sells hardware products to professional integrators, who then resell the products to end users in the…View ↗
(c)“International” consists of all integrators and distributors who transact with Snap One outside of the United States.View ↗
Did Revenues Turn Into Profits?
Not on paper. It lost $21.4M in FY2023, but brought in more cash than it spent: $66.5M of free cash flow.
How Were They Changing?
- Net income
-
Sources
10-Q for Q1 FY2024, filed May 8, 2024
−$22.9MView ↗
- ▲ +58% (Loss)
- vs −$14.5M in Q1 FY2023
10-Q for Q1 FY2024, filed May 8, 2024
Open tableView ↗
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Jun 14, 2024
Resideo completed its acquisition of Snap One
Snap One became a wholly owned subsidiary of Resideo and its shares were delisted from Nasdaq.
Sources
8-K, filed Jun 14, 2024
The information contained in the Introductory Note of this Current Report on Form 8-K is incorporated by reference into this Item 2.01. As…View ↗
Who Did They Compete With?
Competes with Alarm.com, Alphabet, Amazon, Apple, Crestron, Lutron, Savant, Sonos, and Ubiquiti
10-K for FY2023, filed Mar 8, 2024The smart-living market is fragmented, highly competitive and continually evolving. We compete against smart-living and point-product…View ↗
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