Sonos Results Presentation Deck
Strong Opex Leverage on Higher Sales
Research and Development (GAAP)
% of revenue
Sales and Marketing (Non-GAAP)
% of revenue
General and Administrative (GAAP)
Legal and transaction related costs
Adjusted General and Administrative (Non-GAAP)
% of revenue
Total Operating Expenses (GAAP)
Legal and transaction related costs
Adjusted Operating Expenses (Non-GAAP)
% of revenue
2Q21
$56.4
16.9%
$57.2
17.2%
$39.8
11.0
$28.8
8.6%
$153.4
11.0
$142.4
42.8%
2Q20
$49.6
28.3%
$50.5
28.8%
$26.1
1.7
$24.4
13.9%
$126.2
1.7
$124.5
71.1%
Y/Y Change
13.7%
(1,140 bps)
13.3%
(1,160 bps)
52.4%
545.9%
17.9%
(530 bps)
21.5%
545.9%
14.3%
(2,830 bps)
Drove significant opex leverage on the
higher sales base
Year-over-year increases in opex driven by
the following factors:
O
R&D +13.7% primarily due to
increased bonus and stock comp
S&M +13.3% primarily due to
increased bonus and stock comp and
marketing investments offset partially
by savings from the 2020
restructuring
G&A ex legal and transaction costs
+17.9% due to increased bonus and
stock comp offset partially by savings
from the 2020 restructuring
Note: $ in millions, unaudited.
See appendix for reconciliation of GAAP to non-GAAP measures. Percentages and sums have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.View entire presentation