A big thanks to my friend Sebastian for sharing your insights with me as a user an investor yourself. This is one perspective always due your own due dilligence. This is some of the information we've discussed:

Long term perspective, important points:

1. They serve a Niche product category
2. Upscale computerized networked audio solutions
3. Might turn or is in fact slowly turning into a mainstream product category soon           ex. Hi-Fi headphones were a very niche thing and now many people have them

People understand that Bluetooth cannot deliver on wireless multi-room audio and that wifi (also a niche technology that became a widely adopted standard) is the solution for playing audio synchronized across multiple rooms.

Trends

• Driven by the smart-home trend
• Shift in individual discretionary spending during corona (less trips/bars more nice items)

To Consider

1. Supply chain diversification by manufacturing in malaysia is a thing to mention, its costly but protects against tariff wars and a little bit agains pandemics
2. Big ongoing legal dispute relating to patents

A Real SONO User's Feedback

I can say from my own experience that the company made impressive jumps in the quality of their services. The app was hard to use and not very aesthetically pleasing back in 2014/15 and everything improved dramatically, including set-up, website and the Services they offer (Because it integrates with voice assistants like alexa and google assistant).

Their product range is quite thought through and covers home cinema, hifi audio at home, speakers that integrate into buildings with the architectural series, vinyl players that stream directly to their speakers, network hubs like the boost/bridge and also 1 mobile Bluetooth/WiFi speaker.

Its compatible with any streaming service and it supports all major standards, which is a standout feature.

Most importantly, it is a company that has music in their dna, they run their own radio station-streaming service and offer very Connaisseur-like playlists, the calibration app was created with real producers and they have connections to artists through things like the "home listening with sonos" podcast series. This is a big difference to other companies that will just create "hifi-speakers". Its a company that understands people who love their music collection and these customers will always prefer such companies because of getting little things right that others dont.

It is also a product that gets very closely connected to people’s lifestyles. If you think about it, my day starts and ends with a sonos product.

Lastly, I think visual quality made huge jumps through the implementation of hd, full hd, 4k and hdr in the last 15 years. I think that audio will follow next and people will spend more money on streaming services and the audio equipment necessary to make it sound great.