Snap One sees FY23 revenue $1.05B-$1.09B, consensus $1.08B

"Looking ahead to the rest of 2023 and beyond, we remain confident in our growth algorithm," Heyman continued. "Still, we believe that it is prudent to acknowledge and adjust to economic conditions, and we remain cautious of lingering headwinds in an uncertain global economy. As such, we have taken a pragmatic approach to our 2023 outlook. "With these factors in mind, we expect net sales in the fiscal year ending December 29, 2023 to range between $1.05 billion and $1.09 billion, which would represent a decrease of 6.6% to 3.0% compared to the prior fiscal year on an as-reported basis. For fiscal 2023, we expect adjusted EBITDA1 to range between $107 million and $115 million, which would represent a decrease of 6.2% to an increase of 0.8% compared to the prior fiscal year on an as-reported basis. While the unpredictable macroeconomic reality persists, we have a sustainable, long-term growth strategy as well as a resilient team in place, and we continue to believe in our path forward."