Sonos Reports Record Fiscal Year and Fourth Quarter 2021 Results Introduces Fiscal 2022 Outlook; Ahead of Schedule Reaching Fiscal 2024 Targets Santa Barbara, CA - November 17, 2021 - Sonos, Inc. (Nasdaq: SONO) today reported fourth quarter and fiscal 2021 results. Fiscal 2021 Financial Highlights (unaudited) ● Revenue increased 29% to $1.717 billion; excluding the impact of the 53rd week in fiscal 2020, revenue increased approximately 32% ● Gross margin increased 410 basis points to 47.2%; excluding the effect of tariff duties and refunds, gross margin increased 130 basis points to a record of 46.9% ● GAAP net income increased to $158.6 million from a net loss of ($20.1) million last year; non-GAAP net income excluding stock-based compensation, restructuring, and legal and transaction-related fees increased to $248.3 million from $79.2 million last year ● GAAP diluted earnings per share (EPS) increased to $1.13 from a loss per share of ($0.18) last year; non-GAAP diluted earnings per share (EPS) excluding stock-based compensation, restructuring, and legal and transaction related fees increased to $1.77 from $0.67 last year ● Adjusted EBITDA increased 157% to $278.6 million ● Adjusted EBITDA margin increased 800 basis points to 16.2% ● Cash flows from operating activities increased to $253.2 million compared to $162.0 million last year ● Free cash flow increased to $207.7 million compared to $129.0 million last year Fourth Quarter 2021 Financial Highlights (unaudited) ● Revenue increased 6% year-over-year to $359.5 million; excluding the impact of the 14th week last year, revenue increased approximately 14% year-over-year ● Gross margin of 46.4% compared to 47.5% last year; excluding the effect of tariff duties and refunds, gross margin was 45.7% compared to 48.3% last year ● GAAP net loss of ($8.7) million compared to net income of $18.4 million last year; non-GAAP net income excluding stock-based compensation, restructuring and legal and transaction related fees of $11.8 million compared to $40.7 million last year ● GAAP diluted loss per share of ($0.07) compared to $0.15 last year; non-GAAP diluted earnings per share (EPS) excluding stock-based compensation, restructuring, and legal and transaction related fees of $0.08 compared to $0.33 last year ● Adjusted EBITDA of $17.1 million compared to $46.4 million last year ● Adjusted EBITDA margin was 4.8% compared to 13.7% last year


The following information was filed by Sonos Inc (SONO) on Wednesday, November 17, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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