Sonos Inc (NASDAQ:SONO) stock surged after the company reported Q4 financial results that exceeded expectations and announced a $200 million stock repurchase program. Q4 revenue was $305.1 million, surpassing estimates of $299.4 million, and the Q4 EPS showed a 7 cent loss, better than the expected 18 cent loss. Gross margin increased to 42%, and the company generated $12 million in free cash flow. Despite a challenging year, CEO Patrick Spence highlighted the strength of the Sonos brand. The company's outlook for full-year 2024 revenue is $1.6 to $1.7 billion, slightly below estimates of $1.71 billion. Morgan Stanley analyst Erik Woodring maintained an Equal-Weight rating on Sonos but lowered the price target from $19 to $17.