Sonos Results Presentation Deck
Investing in the business & driving opex leverage in Q2
Research and Development (GAAP)
Legal and transaction related costs
Adjusted Research and Development (Non-GAAP)
% of revenue
Sales and Marketing (GAAP)
Legal and transaction related costs
Adjusted 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
Note: $ in millions, unaudited. Percentages and sums have been calculated
using actual, non-rounded figures and, therefore, may not recalculate
precisely.
Q2'22
$64.9
0.0
$64.9
16.2%
$60.0
0.0
$60.0
15.0%
$44.1
6.0
$38.1
9.5%
$169.0
6.0
$163.0
40.8%
Q2'21
$56.4
0.0
$56.4
16.9%
$57.2
0.0
$57.2
17.2%
$39.8
11.0
$28.8
8.6%
$153.4
11.0
$142.4
42.8%
Y/Y Change
15.2%
NM
15.2%
(70) bps
4.8%
NM
4.8%
(220) bps
10.8%
(45.4)%
32.2%
90 bps
10.2%
(45.4%)
14.5%
(200) bps
Adjusted Opex leverage of 200 bps YoY:
O
R&D +15.2% primarily due to higher
personnel-related expenses, increased
product development costs,
professional fees, and other expenses
S&M +4.8% primarily due to increased
brand and marketing investments and
personnel-related and other costs
G&A ex legal and transaction costs
+32.2% due to increased
personnel-related expenses related to
hiring support, and continued systems
and tools investments. These include
investments to replace our legacy ERP
system, with the new system going live
in Q3 2022View entire presentation