Sonos, Inc. (NASDAQ:SONO) Q3 2022 Earnings Conference Call August 10, 2022 5:00 PM ET Company Participants James Baglanis - IR Patrick Spence - CEO, President & Director Brittany Bagley - CFO Edward Lazarus - Chief Legal Officer & Corporate Secretary Conference Call Participants Thomas Forte - D.A. Davidson & Co. Brent Thill - Jefferies Roderick Hall - Goldman Sachs Group John Babcock - Bank of America Merrill Lynch Erik Woodring - Morgan Stanley Operator Good afternoon. My name is Emma, and I will be your ...

Table of contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Delaware 03-0479476 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 2, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38603 SONOS, INC. (Exact name of registrant as specified in its charter) of incorporation o ...

Sonos, Inc. (NASDAQ:SONO) Q2 2022 Earnings Conference Call May 11, 2022 5:00 PM ET Company Participants Patrick Spence - Chief Executive Officer Brittany Bagley - Chief Financial Officer Conference Call Participants Erik Woodring - Morgan Stanley Rod Hall - Goldman Sachs John Babcock - BofA Thomas Forte - D.A. Davidson Brent Thill - Jefferies Operator Good afternoon. My name is Emma and I will be your conference operator today. At this time, I would like to welcome everyone to the Sonos Second Quarter Fisca ...

Table of contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) or ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 2, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38603 SONOS, INC. (Exact name of registrant as specified in its charter) Delaware 03-0479476 (State or other j ...

Q2 2022 Financial Summary S ONO S May 11, 2022 Forward Looking Statements This presentation contains forward-looking statements that involve risks and uncertainties. These forward-looking statements include statements regarding our outlook for the fiscal year ending October 1, 2022; our fiscal 2024 targets; our long-term focus, financial, growth, and business strategies and opportunities; growth metrics and targets; our business model; new products, services, and partnerships; profitability and gross margin ...

Financial Data and Key Metrics Changes - Revenue for Q1 2022 reached a record $664.5 million, representing a 3% increase year-over-year or 3.5% on a constant currency basis [27] - Adjusted EBITDA was $163 million with an adjusted EBITDA margin of 24.6%, marking the second highest Q1 EBITDA ever [30] - Gross margin improved by 140 basis points to 47.8%, driven by reduced promotional activity and product mix [30] Business Line Data and Key Metrics Changes - Sonos speaker revenue decreased by 5% year-over-year due to component availability challenges [29] - Revenue from Sonos system products increased by 38%, supported by the installer channel and improved component availability [29] - Partner products and other revenue rose by 37%, primarily from partnerships with Sonance and IKEA [29] Market Data and Key Metrics Changes - The Americas and EMEA regions both grew by 2% during the quarter, with EMEA increasing by 5% when adjusted for currency [28] - APAC region saw an 18% increase, driven by available supply to meet strong demand [28] Company Strategy and Development Direction - The company is focused on long-term growth through product innovation and has committed to launching at least two new products annually [11][17] - Sonos aims to achieve approximately $2.5 billion in revenue by fiscal 2024, with a 13% CAGR [11][39] - The company operates in a large and growing addressable market, currently holding less than 2% of the $89 billion global audio market [20][40] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in delivering another record year, raising the low end of fiscal 2022 revenue guidance to a range of $1.95 billion to $2 billion [10][33] - The company anticipates continued supply constraints but is working to mitigate these issues [34] - Management highlighted macro tailwinds such as increased audio and video content consumption and the evolution of remote work as favorable for growth [22] Other Important Information - The company generated cash flows from operating activities of $180 million and free cash flow of $174 million [32] - Sonos has deployed $30 million in share buybacks and $27 million in two small acquisitions [32] Q&A Session Summary Question: How will Sonos benefit from the reopening theme? - Management noted that products like Roam and Move are well-positioned for consumers as they leave their homes, and the company is becoming a provider of audio experiences throughout life [45][46] Question: Can you provide an update on the supply chain situation? - Management acknowledged ongoing challenges with component shortages but highlighted improved logistics that contributed to better-than-expected performance in Q1 [49][50] Question: What is the current growth trajectory for new households? - Management indicated that while growth has slowed, there is still significant potential to reach more of the 116 million addressable homes [55][57] Question: What are the expectations for channel inventory levels? - Management expects inventory levels to improve by fall but does not anticipate a return to normal levels immediately [59] Question: What factors contributed to the strong gross margin performance? - Management attributed the improved gross margin to the lack of promotions and price increases that offset supply chain cost increases [65] Question: Can you comment on the ITC news regarding legal actions? - Management expressed satisfaction with the ITC's ruling against Google and mentioned ongoing legal actions related to Sonos innovations [67] Question: How are labor costs impacting the company? - Management noted that labor cost trends are similar to the broader market and have been factored into guidance [71] Question: What is the focus of R&D spending? - Management emphasized ongoing investments in product development and customer experience, including software updates and new services [73]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Table of contents Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended January 1, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38603 SONOS, INC. (Exact name of registrant as specified in its charter) (I.R.S. Employer Identification No. ...

Table of contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________________________________________ Form 10-K _________________________________________________________________ ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended October 2, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-38603 | _____________________ ...

Sonos, Inc. (NASDAQ:SONO) Q4 2021 Earnings Conference Call November 18, 2021 5:00 PM ET Company Participants Patrick Spence – CEO Brittany Bagler – CFO Eddie Lazarus – Chief Legal Officer Cammeron Mclaughlin – Vice President, Investor Relations Conference Call Participants Tom Forte – Davidson Katy Huberty – Morgan Stanley Brent Thill – Jefferies Rk Rajagopal – Goldman Sachs John Babcock – Bank of America Matt Sheerin – Stifle Operator Good afternoon. My name is Emma and I will be your conference Operator ...

Q3 FY21 Financial Results August 11, 2021 SONOS Forward Looking Statements This presentation contains forward-looking statements that involve risks and uncertainties. These forward-looking statements include statements regarding our outlook for the fiscal year ending October 2, 2021, our fiscal 2024 targets, our long-term focus, financial, growth, and business strategies and opportunities, growth metrics and targets, our business model, new products, services and partnerships, profitability and gross margin ...