Sonos Results Presentation Deck

Significant Opex Leverage on Higher Sales Research and Development (GAAP) Restructuring and related charges Adjusted Research and Development (Non-GAAP) % of revenue Sales and Marketing (GAAP) Restructuring and related charges Adjusted Sales and Marketing (Non-GAAP) % of revenue General and Administrative (GAAP) Restructuring and related charges Legal and transaction related costs Adjusted General and Administrative (Non-GAAP) % of revenue Total Operating Expenses (GAAP) Restructuring and related charges Legal and transaction related costs Adjusted Operating Expenses (Non-GAAP) % of revenue FY21 230.1 230.1 13.4% 272.1 (2.5) 274.6 16.0% 152.8 30.1 122.8 7.2% 655.0 (2.4) 30.1 627.4 36.5% FY20 214.7 5.1 209.6 15.8% 263.5 19.8 243.8 18.4% 121.0 1.4 15.5 104.1 7.8% 599.2 26.3 15.5 557.4 42.0% Y/Y Change 7.2% (99.5)% 9.8% (240 bps) 3.3% (112.5)% 12.7% (240 bps) 26.3% (100)% 94.5% 17.9% (60 bps) 9.3% (109.3)% 94.5% 12.6% (550 bps) R&D +10% ex restructuring primarily driven by increased headcount, higher stock-based compensation and bonus, and new product development costs S&M +13% ex restructuring due to higher marketing, higher revenue related fees, and higher bonus costs G&A +18% ex restructuring and legal costs due to higher personnel-related costs and IT investments

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