7Baggers

Snap One Holdings Corp.
(NASDAQ:SNPO) 

SNPO stock logo

Snap One Holdings Corp. provides smart living solutions in the United States and internationally. It offers connected products, including networking, control and lighting, surveillance, and IP-enabled power products; and entertainment products for indoor and outdoor solutions, such as media distribu...

Founded: 2005
Sector: Technology
Industry: Electronics & Computer Distribution
Technology
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• Market Cap:
• Exchange:
• Shs Outstanding:
• Employees:
• Beta:
• Return on Equity (ROE) ttm:
• Return on Assets (ROA) ttm:
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• Ex-Dividend date:
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• Total Net Debt:
At a glance:
Bull Thesis:
Bear Thesis:
Main Competitors:
Moat:
Income Statements:
Quarterly
Annual
    Unit: USD2024-03-29 2023-12-29 2023-09-29 2023-06-30 2023-03-31 2022-12-30 2022-09-30 2022-07-01 2022-04-01 2021-12-31 2021-09-24 2021-06-25 
                
      net sales
    		246,078,000 264,388,000 270,144,000 274,407,000 252,040,000 268,238,000 281,234,000 296,905,000 277,434,000 273,494,000 260,746,000 253,305,000 
      yoy
    		-2.37% -1.44% -3.94% -7.58% -9.15% -1.92% 7.86% 17.21%     
      qoq
    		-6.93% -2.13% -1.55% 8.87% -6.04% -4.62% -5.28% 7.02% 1.44% 4.89% 2.94%  
      costs and expenses:
    		            
      cost of sales, exclusive of depreciation and amortization
    		137,611,000 154,051,000 156,580,000 157,217,000 145,813,000 162,476,000 167,435,000 180,395,000 172,332,000 167,626,000 151,281,000 152,140,000 
      selling, general, and administrative expenses
    		90,820,000            
      depreciation and amortization
    		15,369,000 15,158,000 15,371,000 15,394,000 15,202,000 14,915,000 14,812,000 14,966,000 14,889,000 14,384,000 14,287,000 14,198,000 
      total costs and expenses
    		243,800,000 257,425,000 255,988,000 266,404,000 254,812,000 260,436,000 271,626,000 290,755,000 273,748,000 273,243,000 270,573,000 244,995,000 
      income from operations
    		2,278,000 6,963,000 14,156,000 8,003,000 -2,772,000 7,802,000 9,608,000 6,150,000 3,686,000 251,000 -9,827,000 8,310,000 
      yoy
    		-182.18% -10.75% 47.34% 30.13% -175.20% 3008.37% -197.77% -25.99%     
      qoq
    		-67.28% -50.81% 76.88% -388.71% -135.53% -18.80% 56.23% 66.85% 1368.53% -102.55% -218.26%  
      operating margin %
    		0.93% 2.63% 5.24% 2.92% -1.10% 2.91% 3.42% 2.07% 1.33% 0.09% -3.77% 3.28% 
      other incomes
    		            
      interest expense
    		14,237,000 14,533,000 14,893,000 14,888,000 13,949,000 11,152,000 10,244,000 7,720,000 6,723,000 6,573,000 7,511,000 9,543,000 
      other income
    		-51,000 2,148,000 511,000 -1,990,000 827,000 1,404,000 620,000 -63,000 -420,000 -7,300,000 6,931,000 -296,000 
      total other incomes
    		14,186,000 16,681,000 15,404,000 12,898,000 14,776,000 12,556,000 10,864,000 7,657,000 6,303,000 11,345,000 14,442,000 9,247,000 
      income before income taxes
    		-11,908,000 -9,718,000 -1,248,000 -4,895,000 -17,548,000 -4,754,000 -1,256,000 -1,507,000 -2,617,000 -11,094,000 -24,269,000 -937,000 
      income tax benefit
    		11,025,000 -3,922,000 -348,000 -4,771,000 -3,000,000 -697,000 -238,000  -361,000 -3,269,000 -2,729,000 119,000 
      net income
    		-22,933,000 -5,796,000 -900,000 -124,000 -14,548,000 -4,057,000 -1,018,000 -1,344,000 -2,256,000 -7,825,000 -21,540,000 -1,056,000 
      yoy
    		57.64% 42.86% -11.59% -90.77% 544.86% -48.15% -95.27% 27.27%     
      qoq
    		295.67% 544.00% 625.81% -99.15% 258.59% 298.53% -24.26% -40.43% -71.17% -63.67% 1939.77%  
      net income margin %
    		-9.32% -2.19% -0.33% -0.05% -5.77% -1.51% -0.36% -0.45% -0.81% -2.86% -8.26% -0.42% 
      net income per share
    		-0.3 -0.07 -0.01  -0.19 -0.06 -0.01 -0.02 -0.03 -0.1 -0.31 -0.02 
      weighted-average shares outstanding, basic and diluted
    		76,360 75,898 75,854 74,757 75,291 74,651 74,650 74,588 74,464 65,541 68,672 59,217 
      selling, general and administrative expenses
    		 67,906,750 84,037,000 93,793,000 93,797,000 83,045,000 89,379,000 95,394,000 86,527,000 91,233,000 105,005,000 78,657,000 
      net income attributable to noncontrolling interest
    		     -4,000 -8,000 -17,000 -20,000 -10,000 -11,000 -12,000 
      net income attributable to company
    		 -5,796,000 -900,000 -124,000 -14,548,000 -4,053,000 -1,010,000 -1,327,000 -2,236,000 -7,815,000 -21,529,000 -1,044,000 
      income tax (benefit) expense
    		       -163,000     
    Balance Sheets:
    Quarterly
    Annual
      Unit: USD2024-03-29 2023-12-29 2023-09-29 2023-06-30 2023-03-31 2022-12-30 2022-09-30 2022-07-01 2022-04-01 2021-12-31 2021-09-24 2021-06-25 
                  
        assets
      		            
        current assets:
      		            
        cash and cash equivalents
      		41,251,000 61,023,000 40,030,000 33,846,000 34,452,000 21,117,000 35,543,000 31,318,000 25,055,000 40,577,000 60,591,000 35,850,000 
        accounts receivable
      		45,340,000 45,879,000 53,849,000 54,703,000 50,415,000 48,174,000 54,171,000 59,172,000 57,151,000 52,620,000 54,119,000 56,650,000 
        inventories
      		249,241,000 268,793,000 275,469,000 292,531,000 313,555,000 314,588,000 296,624,000 274,697,000 241,468,000 210,964,000 174,377,000 174,359,000 
        prepaid expenses
      		23,403,000 21,067,000 20,349,000 22,261,000 23,042,000 22,913,000       
        other current assets
      		2,312,000 2,678,000 2,712,000 2,957,000 3,771,000 5,930,000       
        total current assets
      		361,547,000 399,440,000 392,409,000 406,298,000 425,235,000 412,722,000 420,223,000 396,800,000 358,252,000 339,275,000 320,395,000 282,765,000 
        long-term assets:
      		            
        property and equipment
      		44,595,000 45,560,000 45,725,000 45,074,000 41,426,000 34,958,000 26,160,000 24,238,000 23,654,000 22,603,000 21,029,000 20,649,000 
        goodwill
      		592,186,000 592,389,000 592,214,000 592,380,000 592,195,000 592,186,000 592,910,000 590,199,000 590,166,000 580,761,000 581,136,000 580,842,000 
        other intangible assets
      		492,693,000 505,077,000 517,146,000 529,792,000 541,996,000 554,419,000 567,907,000 576,159,000 588,740,000 587,192,000 599,485,000 611,778,000 
        operating lease right-of-use assets
      		49,752,000 51,851,000 53,578,000 54,775,000 51,541,000 54,041,000 54,133,000 39,547,000 41,835,000    
        other assets
      		9,042,000 8,611,000 8,163,000 6,092,000 4,949,000 4,195,000 1,733,000 3,530,000 9,849,000 10,550,000 8,435,000 9,815,000 
        total assets
      		1,549,815,000 1,602,928,000 1,609,235,000 1,634,411,000 1,657,342,000 1,652,521,000 1,663,066,000 1,630,473,000 1,612,496,000 1,540,381,000 1,530,480,000 1,505,849,000 
        liabilities and stockholders’ equity
      		            
        current liabilities:
      		            
        current maturities of long-term debt
      		3,900,000 3,900,000 5,200,000 5,200,000 5,200,000 5,063,000 4,650,000 4,650,000 3,488,000 3,488,000 2,924,000 6,824,000 
        accounts payable
      		59,202,000 67,295,000 66,602,000 62,753,000 66,704,000 77,443,000 82,121,000 84,966,000 72,938,000 72,781,000 65,566,000 68,077,000 
        accrued liabilities
      		58,513,000 62,631,000 66,274,000 64,537,000 64,255,000 64,605,000 82,334,000 71,499,000 68,739,000 75,517,000 80,860,000 79,465,000 
        current operating lease liability
      		11,611,000 11,456,000 11,071,000 10,702,000 9,964,000 10,574,000 11,478,000 11,772,000 12,594,000    
        current tax receivable agreement liability
      		12,827,000 21,107,000 21,107,000 23,195,000 23,195,000 10,191,000 10,191,000 11,038,000 11,038,000    
        total current liabilities
      		146,053,000 166,389,000 170,254,000 166,387,000 169,318,000 167,876,000 190,774,000 183,925,000 168,797,000 151,786,000 149,350,000 154,366,000 
        long-term liabilities:
      		            
        long-term debt
      		495,070,000 495,620,000 494,884,000 495,462,000 496,054,000 496,795,000 446,928,000 447,700,000 449,638,000 449,256,000 438,676,000 644,645,000 
        deferred income tax liabilities
      		33,809,000 26,975,000 32,045,000 34,542,000 37,670,000 43,515,000 45,733,000 45,592,000 49,481,000 48,555,000 51,956,000 55,926,000 
        operating lease liability, net of current portion
      		49,582,000 52,090,000 54,085,000 55,649,000 52,195,000 50,896,000 45,725,000 30,739,000 32,204,000    
        tax receivable agreement liability, net of current portion
      		67,735,000 80,929,000 80,929,000 78,211,000 78,211,000 101,262,000 102,302,000 101,368,000 101,368,000    
        other liabilities
      		18,997,000 21,068,000 19,284,000 20,952,000 25,641,000 24,206,000 21,706,000 21,610,000 23,813,000 30,103,000 26,334,000 28,022,000 
        total liabilities
      		811,246,000 843,071,000 851,481,000 878,155,000 907,965,000 895,350,000 908,891,000 876,581,000 860,872,000 792,106,000 778,997,000 882,959,000 
        commitments and contingencies
      		            
        stockholders’ equity:
      		            
        common stock, 0.01 par value...
      		765,000 759,000 758,000 756,000 752,000 750,000 747,000 746,000 745,000 744,000 742,000 592,000 
        preferred stock, 0.01 par value...
      		            
        additional paid-in capital
      		873,746,000 872,065,000 865,453,000 861,550,000 855,202,000 848,703,000 842,208,000 838,035,000 832,316,000 826,718,000 821,827,000 671,356,000 
        accumulated deficit
      		-132,347,000 -109,414,000 -103,618,000 -102,718,000 -102,594,000 -88,046,000 -83,993,000 -82,983,000 -81,656,000 -79,420,000 -71,605,000 -50,076,000 
        accumulated other comprehensive loss
      		-3,595,000 -3,553,000 -4,839,000 -3,332,000 -3,983,000  -5,003,000 -2,130,000     
        total stockholders’ equity
      		738,569,000 759,857,000 757,754,000 756,256,000 749,377,000 757,171,000 754,175,000 753,892,000 751,624,000 748,275,000 751,483,000 622,890,000 
        total liabilities and stockholders’ equity
      		1,549,815,000 1,602,928,000 1,609,235,000 1,634,411,000 1,657,342,000 1,652,521,000 1,663,066,000 1,630,473,000 1,612,496,000 1,540,381,000 1,530,480,000 1,505,849,000 
        revolving credit facility
      		   26,952,000 48,876,000 10,800,000 55,723,000 45,647,000 35,571,000    
        accumulated other comprehensive income
      		     -4,236,000   -22,000 -28,000 248,000 736,000 
        company’s stockholders’ equity
      		     757,171,000 753,959,000 753,668,000 751,383,000 748,014,000 751,212,000 622,608,000 
        noncontrolling interest
      		      216,000 224,000 241,000 261,000 271,000 282,000 
        prepaid expenses and other current assets
      		      33,885,000 31,613,000 34,578,000 35,114,000 31,308,000 15,906,000 
        tax receivable agreement liability
      		         112,406,000 112,681,000  
        liabilities and stockholders' equity
      		            
        stockholders' equity:
      		            
      Cashflow Statements:
      Quarterly
      Annual
        Unit: USD2024-03-29 2023-12-29 2023-09-29 2023-06-30 2023-03-31 2022-12-30 2022-09-30 2022-07-01 2022-04-01 2021-12-31 2021-09-24 
                   
          cash flows from operating activities:
        		           
          net income
        		-22,933,000 -5,796,000 -900,000 -124,000 -14,548,000 -4,057,000 -1,018,000 -1,344,000 -2,256,000 -7,825,000 -21,540,000 
          adjustments to reconcile net income to net cash from operating activities:
        		           
          depreciation and amortization
        		15,369,000 15,158,000 15,371,000 15,394,000 15,202,000 14,915,000 14,812,000 14,966,000 14,889,000 14,384,000 14,287,000 
          amortization of debt issuance costs
        		827,000 813,000 798,000 784,000 772,000 758,000 467,000 463,000 458,000 845,000 1,157,000 
          deferred income taxes
        		6,601,000 -5,110,000 -2,569,000 -3,154,000 -5,869,000 -1,483,000 293,000 -3,497,000 -2,965,000 -4,414,000 -3,971,000 
          equity-based compensation
        		5,913,000 5,948,000 4,261,000 5,520,000 7,763,000 5,354,000 5,570,000 6,768,000 5,599,000 4,893,000 14,391,000 
          non-cash operating lease expense
        		2,518,000 2,304,000 2,484,000 2,456,000 3,310,000 3,399,000 3,561,000 3,313,000 2,985,000   
          bad debt expense
        		159,000 263,000 354,000 241,000 307,000 232,000 432,000 26,000 74,000 358,000 263,000 
          non-cash compensation forfeiture
        		-1,787,000           
          interest rate cap income
        		-170,000           
          fair value adjustment to contingent value rights
        		-1,200,000 -600,000 -1,700,000 1,400,000 600,000 -1,000,000 -125,000 -3,275,000 -2,800,000 3,700,000 -1,640,000 
          valuation adjustment to tra liability
        		-367,000 0 631,000 0 144,000       
          other
        		 52,000 23,000 -288,000 130,000 8,000 30,000 15,000 30,000 0 0 
          change in operating assets and liabilities:
        		           
          accounts receivable
        		-173,000 8,737,000 505,000 -4,373,000 -2,614,000 3,996,000 6,968,000 -2,047,000 -2,804,000 1,141,000 2,216,000 
          inventories
        		18,435,000 8,550,000 15,718,000 21,490,000 1,205,000 -15,739,000 -26,872,000 -33,230,000 -25,032,000 -36,594,000 -16,000 
          prepaid expenses and other assets
        		-2,261,000 -1,147,000 1,099,000 -373,000 1,268,000 2,591,000 -1,987,000 3,004,000 2,269,000 -3,448,000 -17,478,000 
          accounts payable, accrued liabilities, and operating lease liabilities
        		-14,964,000           
          net cash from operating activities
        		5,967,000 23,587,000 40,291,000 28,047,000 -2,630,000 -7,709,000 4,192,000 3,469,000 -23,022,000 -19,176,000 -6,624,000 
          capital expenditures
        		-2,080,000 -2,817,000 -4,303,000 -6,521,000 -9,164,000 -11,468,000 -3,610,000 -3,102,000 -3,312,000 -3,185,000 -2,406,000 
          free cash flows
        		3,887,000 20,770,000 35,988,000 21,526,000 -11,794,000 -19,177,000 582,000 367,000 -26,334,000 -22,361,000 -9,030,000 
          cash flows from investing activities:
        		           
          purchases of property and equipment
        		-2,080,000 -2,817,000 -4,303,000 -6,521,000 -9,164,000 -11,468,000 -3,610,000 -3,102,000 -3,312,000 -3,185,000 -2,406,000 
          net cash from investing activities
        		-2,080,000 -2,817,000 -4,303,000 -6,509,000 -9,125,000 -11,468,000 -8,480,000 -3,087,000 -29,521,000 -4,058,000 -2,662,000 
          cash flows from financing activities:
        		           
          payments on long-term debt
        		-1,300,000 -1,300,000 -1,300,000 -1,300,000 -1,300,000 -1,163,000 -1,162,000   -451,616,000 -217,397,000 
          proceeds from revolving credit facility
        		 0 0 0 38,000,000 12,000,000 10,000,000 10,000,000 37,000,000   
          proceeds from interest rate cap
        		490,000           
          repurchase and retirement of common stock
        		 0 0 0 -293,000 -422,000 -1,492,000     
          payment of tax withholding obligation on settlement of equity awards
        		-2,439,000 -198,000 -356,000 0 -1,024,000       
          payments of tax receivable agreement
        		-21,107,000 0 0 0 -10,191,000       
          payments of contingent consideration
        		 0          
          net cash from financing activities
        		-24,356,000 -108,000 -29,117,000 -22,072,000 24,942,000 5,247,000 7,346,000 7,919,000 37,000,000 3,674,000 34,488,000 
          effect of exchange rate changes on cash and cash equivalents
        		697,000 331,000 -687,000 -72,000 148,000 -496,000 1,167,000 -2,038,000 21,000 -454,000 -461,000 
          net increase in cash and cash equivalents
        		-19,772,000 20,993,000 6,184,000 -606,000 13,335,000     -20,014,000 24,741,000 
          cash and cash equivalents at beginning of the period
        		61,023,000 0 0 0 21,117,000 0 0 0 40,577,000 0 0 
          cash and cash equivalents at end of the period
        		41,251,000 20,993,000 6,184,000 -606,000 34,452,000 -14,426,000 4,225,000 6,263,000 25,055,000 -20,014,000 24,741,000 
          supplementary cash flow information:
        		           
          cash paid for interest
        		14,341,000 13,448,000 14,050,000 14,147,000 14,098,000 18,735,000 247,000 6,947,000 7,710,000 9,204,000  
          cash paid for taxes
        		519,000 1,999,000 1,601,000 3,444,000 969,000 746,000 1,498,000 2,427,000 1,018,000 1,800,000 -478,000 
          noncash investing and financing activities:
        		           
          capital expenditure in accounts payable
        		238,000 49,000 -786,000 67,000 937,000 125,000 292,000 16,000 305,000 538,000 -14,000 
          interest rate cap expense
        		           
          valuation adjustment to contingent liability
        		           
          loss on notes receivable
        		           
          loss on extinguishment of debt
        		           
          accounts payable and accrued liabilities
        		         2,390,000 -928,000 
          operating lease liabilities
        		           
          acquisition of business, net of cash acquired
        		     0 -4,900,000 0 -25,639,000 52,000 -256,000 
          issuance of notes receivable
        		     0 0 0 -600,000   
          proceeds from long-term debt
        		           
          payments of debt issuance costs
        		           
          payments on revolving credit facility
        		 0 -28,000,000         
          proceeds on interest rate cap agreement
        		           
          proceeds from employee stock purchase plan
        		 863,000 0         
          proceeds from initial public offering, net of offering costs
        		         -1,000  
          noncash tax receivable agreement liability
        		         0  
          noncash equity contribution
        		         0 0 
          unrealized gain on interest rate cap
        		  313,000         
          benefit from credit losses on notes receivable
        		      0     
          accounts payable, accrued liabilities and operating lease liabilities
        		  3,903,000 -8,982,000 -11,118,000  2,005,000 12,369,000 -13,439,000   
          contingent consideration payments
        		   0 -250,000       
          unrealized loss on interest rate cap
        		    818,000       
          fair value adjustment to tax receivable agreement
        		           
          proceeds from sale of business
        		           
          proceeds from capital contributions
        		           
          write-off of unamortized debt issuance costs
        		           
          loss on sale and disposal of property and equipment
        		      0   242,000  
          net decrease in cash and cash equivalents
        		      4,225,000 6,263,000 -15,522,000   
          payment of deferred initial public offering costs
        		           
          gain on sale of business
        		           
          gain on sale and disposal of property and equipment
        		           
          cash payments for interest