| Market Capitalization (Millions $) |
- |
| Shares
Outstanding (Millions) |
76 |
| Employees |
1,610 |
| Revenues (TTM) (Millions $) |
1,055 |
| Net Income (TTM) (Millions $) |
-18 |
| Cash Flow (TTM) (Millions $) |
7 |
| Capital Exp. (TTM) (Millions $) |
16 |
Business Description
Snap One enables professional integrators to provide seamless experiences in connected homes and small businesses where people live, work, and play. Our "Only Here" strategy, which combines our end-to-end product ecosystem delivered through our powerful distribution network and bolstered by technology-enabled workflow solutions, provides a compelling value proposition to our loyal and growing network of over 16,000 professional do-it-for-me ("DIFM") integrators. Only here, we feel, can integrators have access to a leading, complete range of goods and software solutions, enabling a "one-stop shop" experience.
Only Here can integrators support their customers via our industry-leading remote management software platform, which reaches approximately 424,000 active homes and businesses as of December 31, 2021. Only Here can integrators enjoy the convenience of an e-commerce centric, omni-channel distribution model to support their workflow. Only Here can our third-party product partners efficiently access the professional integrator market through our distribution reach and integrate into the broader Snap One product and software ecosystem. By partnering with Snap One, integrators can focus on their trade and leverage the tools and infrastructure that we deliver to build thriving and profitable businesses. We believe our Only Here value proposition becomes embedded into integrators' workflow throughout the project lifecycle, creating re-occurring spending patterns that strengthen our integrator relationships and enhance our revenue visibility across our integrator base.
Snap One was founded by integrators for integrators. We believe our Only Here experience makes us the partner of choice for professional integrators. Our leading end-to-end ecosystem of proprietary SKUs, alongside a curated set of third-party products, provides differentiated portfolio depth and the convenience of a 'one-stop shop' experience for our integrators.
Our industry-leading software solutions enhance the interoperability of our products and enable our emerging portfolio of value-added, subscription-based services. We are vertically integrated, with the majority of our net sales coming from our proprietary-branded, internally developed products that are only available to integrators directly from Snap One. These proprietary products are manufactured on an asset-light basis through our network of contract manufacturing and joint development suppliers located primarily in Asia and support our net sales of $1,008.0 million and Contribution Margin of 40.5%, in each case during fiscal year 2021. In addition, we support our integrators with a comprehensive suite of software and support workflow solutions. We engage with our integrators on an omni-channel basis, blending the benefits of our comprehensive e-commerce portal with the convenience of our local branch network for same-day product availability. We support our integrators throughout the entire lifecycle of their projects from pre-sale product research and system design to post-installation end consumer support via our proprietary OvrC software, which enables integrators to remotely manage, configure and troubleshoot devices in the field. We believe our solutions make it easier for professional integrators to operate and profitably grow their businesses, contributing to increased retention and wallet share growth with us over time. We believe our Only Here value proposition creates entrenched relationships and re-occurring spending patterns with our integrators. We believe these favorable integrator dynamics yield an attractive financial profile with a high degree of visibility into integrators' spending patterns.
We provide integrators with a leading, comprehensive suite of connected, infrastructure, entertainment, and software solutions so the entire smart living experience is exceptional for the end consumer. Our product and service offerings encompass all of the design elements required by integrators to build integrated smart living systems that are easy to install and simple to manage, serving the needs of both integrators and end consumers. Our deep relationships with our individual integrators provides us the real-time feedback that allows us to continuously improve our offerings.
Proprietary Products and Software. We have developed a broad range of proprietary SKUs that encompass the spectrum of solutions needed to deliver integrated smart living systems. These products and software are sold under our proprietary brands such as Araknis, Control4, and Wattbox and are only sold through Snap One with confidential wholesale prices that allow integrators to maximize their profitability. Our products and software are designed to meet the unique needs of both the integrator and the DIFM end consumer. We do this by delivering a high quality and reliable cross-category integrated solution that connects easily to our proprietary solutions and third-party products. In addition, our solutions have built-in firmware to allow for a high degree of configurability with useful management tools, which make it easy for integrators to provide mission critical post-installation support. Through our proprietary software, Control4 OS3 and OvrC, we allow integration with thousands of products manufactured by hundreds of third-party manufacturers, and our products are compatible with connected devices from leading brands such as Alphabet, Amazon and Apple, allowing end consumers to enjoy and control their integrated system with the products and devices they know and love.
Third-Party Products. In addition to our proprietary solutions, we have partnered with and sell a curated set of leading third-party products from brands such as Alphabet, Amazon, KEF, Klipsch, Lutron, Samsung, Sony, Sonos, Ubiquiti and Yamaha, which provide our integrators a one-stop shop for their product needs. We believe this increases the value we deliver to our integrators, grows the usage of our technology-enabled workflow solutions, and drives integrator retention and growth. Our third-party product offerings also deliver significant value to our third-party partners. We provide these third-party partners with differentiated access to our expansive network of integrators through our omni-channel model and compatibility with our leading software solutions, which ensures those products can be seamlessly integrated into a system and easily supported after installation.
Our Software and Support Workflow Solutions
Our differentiated technology and software workflow tools have been designed to support the integrator throughout the project lifecycle, enhancing their operations and helping them to profitably grow their businesses. We believe our suite of embedded solutions is truly unique, further differentiating Snap One from the rest of the smart living market, and driving stickiness and wallet share growth with integrators.
Integrator Job Lifecycle Service and Support. We provide comprehensive certification and award-winning training and support services, enabling integrators' ongoing success and business efficiency. Our comprehensive services are delivered through multiple channels, including through our cloud software, on our e-commerce portal and at our local branches, and encompass every step of the integrator job lifecycle from research and training through post-installation support. For example, we have remote management solutions that enable continuous end consumer system monitoring and management and significantly reduce or eliminate time-consuming and costly post-installation troubleshooting for the integrator. Additionally, we have a dedicated team of technical experts who help integrators with product awareness, product training and on-the-job troubleshooting support to ensure the best solutions are delivered in the right way to end consumers. We believe the 16 CE Pro Quest for Quality Awards we won in 2021 are a testament to the value of our service and support programs for integrators.
Cloud-Based Software. We have developed a suite of proprietary cloud-based software solutions that are embedded in the integrator's workflow through the lifecycle of a project and enable remote management and monitoring of connected devices after installation. Our Control4 Composer tool provides an easy-to-use interface that helps integrators configure highly customized control systems for end consumers. OvrC is a free, cloud-based software, which enables integrators to remotely monitor, troubleshoot and manage connected devices on a system. While OvrC is available free to integrators, we utilize its strong functionality and presence with end consumers to enable Parasol, which is our subscription-based remote monitoring service for end consumers. By utilizing these software tools, integrators can significantly increase efficiency by reducing the need for service calls and ensuring that their customers' mission-critical systems are installed properly and supported thereafter, resulting in continuous highly personalized, immersive experiences.
Omni-Channel Model. We provide a comprehensive e-commerce portal for smart living, which is tailored to allow integrators to research products, design projects, receive training and certifications, order products, and solicit ongoing support. It provides targeted content and compelling stories to drive meaningful interactions with integrators who typically visit the portal ten times to research, train, design, and build an estimate for each purchase they ultimately make. We supplement our e-commerce portal with a growing footprint of 31 local domestic branches as of December 31, 2021. These local branches are key to supporting our growth strategy and delivering additional value to integrators by ensuring they can receive critical products on a same-day basis to support project requirements, while attending in-person trainings and using local demonstration rooms to test new products.
Company Address: 1800 Continental Boulevard Charlotte 28273 NC
Company Phone Number: 927-7620 Stock Exchange / Ticker: NASDAQ SNPO
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