Sonos Results Presentation Deck
Q3 Highlights
Q3 revenue of $373.4M, +0.4% y/y (+0.3% constant
currency) and +23% sequentially
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Narrowing FY23 guidance range and maintaining
midpoint for revenue and Adjusted EBITDA
In Q3 gained $ and unit market share in US and EMEA (UK
and DE) home theater category
Impressive media and influencer support continue for Era
100 and Era 300, as the products generate outstanding
customer reviews
Took action to rightsize expense base with 7% reduction in
force (RIF) announced in mid-June and further rationalization
of real estate footprint and program spend
Q3 gross margin of 46.0%, -130bps y/y and +270bps q/q
Q3 Adjusted EBITDA of $34.3M, margin of 9.2%
Note: Unaudited. Adjusted EBITDA, Adjusted EBITDA Margin and constant currency
are non-GAAP measures. *See appendix for reconciliation of GAAP to non-GAAP measures.
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