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Smart speaker maker Sonos on Friday filed for a $100 million IPO.

Why it's a big deal: Because this will be a test of market appetite for a pure-play hardware maker, at a time when service providers (and Sonos "partners") like Apple, Amazon and Google are also offering smart speakers.

  • Sonos reports $13 million in net income on $655 million in revenue for the six months ending March 31, compared to $15 million on $555 million for the year-earlier period.
  • It plans to trade on the Nasdaq (SONO) with Morgan Stanley as lead underwriter. Shareholders include KKR (25.7% stake), Index Ventures (13%) and Redpoint Ventures (5.2%).
  • Notable risk factor: "We have historically maintained, and we believe our customers have grown to expect, extensive backward compatibility for our older products and the software that supports them, allowing older products to continue to benefit from new software updates. We expect that in the near to intermediate term, this backward compatibility will no longer be practical or cost-effective, and we may decrease or discontinue service for our older products."

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Supreme Court expands religious freedoms in schools, employment

Illustration: Sarah Grillo/Axios

The Supreme Court ended its term with a series of rulings on religion's role in schools, the workplace and access to health care.

Why it matters: The decisions elevated protections for people and employers of faith, while curtailing those of religion teachers, the nonreligious taxpayer and women who rely on their workplaces' health care plans for contraception.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 2 p.m. ET: 12,573,041 — Total deaths: 561,865 — Total recoveries — 6,915,740Map.
  2. U.S.: Total confirmed cases as of 2 p.m. ET: 3,213,902 — Total deaths: 134,420 — Total recoveries: 983,185 — Total tested: 38,919,421Map.
  3. Public health: Jimmy and Rosalynn Carter: "Please wear a mask to save lives" Fauci hasn't briefed Trump on the coronavirus pandemic in at least two months — We're losing the war on the coronavirus.
  4. Food: How the coronavirus pandemic boosted alternative meat.
  5. Sports: Charge of "money grab" by college football.
  6. World: India reimposes lockdowns as coronavirus cases soar.
  7. 🎧 Podcast: Rural America has its own coronavirus problem.

Scoop: Don Jr. plans convention-week Biden book

Cover via Don Jr.

Donald Trump Jr., in quarantine since girlfriend Kimberly Guilfoyle tested positive for the coronavirus, says he's used the time to finish a book that he'll self-publish the week of the Republican convention, at the end of August.

What he's saying: Don Jr., whose controversial blasts connect with President Trump's base, told me in a phone interview that "Liberal Privilege" will be his effort to paint a picture of Joe Biden and his record that the press ignores.