Slide 1: The Power of the Sonos System: 3Q26 Earnings
Investor July The Power of the Sonos System Presentation 2026 3Q26 Earnings
Slide 2: The Power of the Sonos System
The Power of the Sonos System Sonos and Sonance Sonos and Sonance Era 100 Sonos and Sonance Roam 2 Era 100 SL Era 100 SL Move 2 Era 300 Arc Ultra Sonos Ace Play Sub 4 Amp Amp
Slide 3: Disclaimers
Investor Presentation July 2026 The Power of the Sonos System Disclaimers Forward-looking Statements This presentation contains forward-looking statements that involve risks and uncertainties. These forward-looking statements include statements regarding our our outlook for the fiscal quarter and yea
Slide 4: At a Glance
Our Purpose Our Product To elevate life The Sonos System: unites every through sound. dimension of sound into one Investor Presentation July 2026 The Power of the Sonos System connected platform. At a Glance 4
Slide 5: The Sonos System
The Sonos System Investor Presentation July 2026 The Power of the Sonos System At a Glance Home Theater Speakers Headphones Components Control & Content Bringing sound to life Designed for every Personalizing home Connecting pros and Making the System for the most important space inside and theater
Slide 6: A Profitable Global Business That's Positioned for Growth
A Profitable Global Business That’s Positioned for Growth Investor Presentation July 2026 The Power of the Sonos System $1.44B FY25 Revenue 6% Share of the Global 43.7% FY25 GAAP Gross Margin $132M FY25 Adjusted EBITDA, 9.2% Margin Premium Audio Market 45.2% FY25 Non-GAAP Gross Margin +23% YoY At a G
Slide 7: Sonos is One of a Kind
Sonos is One of a Kind The Sonos System unites every dimension of Investor Presentation July 2026 The Power of the Sonos System Unique Platform Model sound — music, movies, stories and conversations — into one connected platform. Large Opportunities for Growth Only 6% penetration of $24B TAM, with a
Slide 8: Sonos is Every Dimension in Sound
Sonos is Every Dimension in Sound Investor Presentation July 2026 The Power of the Sonos System Home theater Premium sound Iconic design Spatial audio Seamless Multi-room control The Sonos System is greater than Unique Platform Model the sum of its parts. Voice control Portables The Sonos app AirPla
Slide 9: Sonos is a Platform for Growth
Sonos is a Platform for Growth Investor Presentation July 2026 The Power of the Sonos System Differentiation Expansion Our portfolio of integrated Value compounds with every hardware and software defines product and room added. our position as the premier platform for sound in the home. Unique Platfor
Slide 10: Sonos is the Premier Sound Platform
Sonos is the Premier Sound Platform Audio brands don’t build ecosystems. Investor Presentation July 2026 The Power of the Sonos System Tech giants won’t open their walled gardens. Access Control and content players are isolated islands. Only Sonos brings them all together Unique Platform Model Audio
Slide 11: Sonos Platform Growth in FY25
Sonos Platform Growth in FY25 More Households 17.1 More Devices 53.4 Investor Presentation July 2026 The Power of the Sonos System 16.3 50.4 15.3 46.6 Households grew 14.0 Registered products grew +5% YoY to 17.1M +6% YoY to 53.4M 41.8 12.6 37.1 10.9 Existing households were 31.6 45% of registration
Slide 12: Total Addressable Market
Total Addressable Market The global premium Investor Presentation July 2026 The Power of the Sonos System audio market is a $24B opportunity. Growth Opportunities 6% current market share FY25 Revenue Untapped Opportunity Source: Futuresource CY2025, Premium defined as $100+ wireless speakers, $200+ s
Slide 13: How We Grow
How We Grow Five growth dimensions to drive new households and increase lifetime value Investor Presentation July 2026 The Power of the Sonos System Product Innovation Customer Advocacy Intentional Marketing Geographic Expansion Emerging Trends Differentiated products Loyalty earned through Full-funn
Slide 14: Global Presence
Global Presence Based on the foundation we’ve built in Investor Presentation July 2026 The Power of the Sonos System FY25 Revenue our existing markets, we see significant By Geography opportunity to expand our geographic presence #1 in premium home theater1 in US Americas $923M 64% EMEA $441M 31% APA
Slide 15: Broad and Valuable IP Portfolio
Broad and Valuable IP Portfolio Sonos’ US Overview of Portfolio Over 2,000 issued US patents Total U.S. Patent Applications Patent Portfolio Investor Presentation July 2026 The Power of the Sonos System Total U.S. Issued Patents 850+ US applications pending 4,900+ patents globally Established Value
Slide 16: The Sonos Brand: Premium, Trusted, Loved
The Sonos Brand: Premium, Trusted, Loved Strength Partnerships Scale Investor Presentation July 2026 The Power of the Sonos System The Standard for Connected Audio Extended Reach & Reinforced Global Footprint Sonos defines what quality and design mean in Position 17M+ households with 53M+ devices mod
Slide 17: Third Quarter Fiscal 2026 Results
The Power of the Sonos System 17 Investor Presentation July 2026 Third Quarter Fiscal 2026 Results Third Quarter Fiscal 2026 Results
Slide 18: Third Quarter Fiscal 2026 Financial Highlights
Third Quarter Fiscal 2026 Financial Highlights Investor Presentation July 2026 The Power of the Sonos System Revenue Non-GAAP GM % Non-GAAP OpEx $375M 45.5% $135M +9% YoY +80bps YoY +3% YoY First quarter of contribution from Play and Era 100 SL, +11% Non-GAAP gross profit $ growth from higher In-line
Slide 19: Third Quarter Fiscal 2026 Financial Summary
Third Quarter Fiscal 2026 Financial Summary REVENUE GROSS MARGIN Investor Presentation July 2026 The Power of the Sonos System First quarter of contribution from GAAP Gross Profit $ +26% YoY Play and Era 100 SL, strong NG Gross Profit $ +11% YoY double digit growth from EMEA and APAC GAAP GP/GM includ
Slide 20: Third Quarter Fiscal 2026 Operating Expense Trend
Third Quarter Fiscal 2026 Operating Expense Trend STOCK-BASED COMPENSATION RESEARCH AND DEVELOPMENT Investor Presentation July 2026 The Power of the Sonos System SBC -20% YoY driven by savings GAAP R&D growth driven by $4M from headcount reductions and in restructuring costs and higher delayering as
Slide 21: Third Quarter Fiscal 2026 Balance Sheet and Cash Flow
Third Quarter Fiscal 2026 Balance Sheet and Cash Flow CASH BALANCES INVENTORIES Investor Presentation July 2026 The Power of the Sonos System Cash and marketable securities of Total inventories +37% YoY $261M ($54M short duration t-bills) primarily due to higher memory costs, new product launches an
Slide 22: Outlook
The Power of the Sonos System 22 Investor Presentation July 2026 Outlook Outlook
Slide 23: Fourth Quarter Fiscal 2026 Outlook
Fourth Quarter Fiscal 2026 Outlook Investor Presentation July 2026 The Power of the Sonos System Revenue GAAP Gross Margin $325M to $355M 39.0% to 41.0% +13% to +23% YoY -470 to -270 bps YoY +18% at midpoint, +10% excluding 14th week ($24M benefit). FX expected to have Non-GAAP Gross Margin expected
Slide 24: Fiscal 2026 Outlook at Midpoint of Q4 Range
Fiscal 2026 Outlook at Midpoint of Q4 Range REVENUE NON-GAAP GROSS MARGIN Investor Presentation July 2026 The Power of the Sonos System FY25: $1.44bn, -5% YoY NG GP $ +7% YoY in FY26, FY26: $1.54bn, +7% YoY +16% excluding higher Ex. 53rd wk: $1.52bn, +5% memory costs YoY 53rd week expected to FY26 N
Slide 25: Appendix
The Power of the Sonos System 25 Investor Presentation July 2026 Appendix Appendix
Slide 26: Disclaimers
Investor Presentation July 2026 The Power of the Sonos System Disclaimers Non-GAAP Measures We have provided in this presentation financial information that has not been prepared in accordance with US generally accepted accounting principles (“GAAP”). We use these Non-GAAP financial measures to evalua
Slide 27: Reconciliation of GAAP to Non-GAAP Gross Margin
Reconciliation of GAAP to Non-GAAP Gross Margin 3Q22 3Q23 3Q24 3Q25 3Q26 FY24 FY25 GAAP gross profit $ 175,848 $ 171,762 $ 191,641 $ 149,724 $ 189,310 $ 689,373 $ 630,530 Investor Presentation July 2026 The Power of the Sonos System Stock-based compensation expense 448 450 655 1,633 1,257 2,614 6,148
Slide 28: Reconciliation of Certain GAAP to Non-GAAP Operating Expenses
Reconciliation of Certain GAAP to Non-GAAP Operating Expenses 3Q22 3Q23 3Q24 3Q25 3Q26 FY24 FY25 GAAP R&D $ 62,522 $ 77,758 $ 74,223 $ 59,750 $ 67,875 $ 304,558 $ 279,969 Investor Presentation July 2026 The Power of the Sonos System Less: Stock-based compensation expense 7,858 8,637 9,735 7,944 5,90
Slide 29: Reconciliation of Operating Income (Loss) to Adjusted EBITDA
Reconciliation of Operating Income (Loss) to Adjusted EBITDA 3Q22 3Q23 3Q24 3Q25 3Q26 Operating Income (Loss) (GAAP) $ 6,960 $ (21,261) $ 12,589 $ (2,929) $ 31,534 Investor Presentation July 2026 The Power of the Sonos System Stock-based compensation 18,779 18,329 21,930 19,352 16,330 Legal and tran
Slide 30: Reconciliation of Net (Loss) Income to Adjusted EBITDA
Reconciliation of Net (Loss) Income to Adjusted EBITDA 3Q22 3Q23 3Q24 3Q25 3Q26 FY24 FY25 Net (loss) income $ (597) $ (23,571) $ 3,709 $ (3,379) $ 29,853 $ (38,146) $ (61,144) Investor Presentation July 2026 The Power of the Sonos System Add (deduct): - - Depreciation and amortization 8,907 12,209 1
Slide 31: Reconciliation of GAAP Net (Loss) Income to Non-GAAP Net Income
Reconciliation of GAAP Net (Loss) Income to Non-GAAP Net Income 3Q22 3Q23 3Q24 3Q25 3Q26 GAAP net (loss) income $ (597) $ (23,571) $ 3,709 $ (3,379) $ 29,853 Investor Presentation July 2026 The Power of the Sonos System Stock-based compensation 18,779 18,329 21,930 19,352 16,330 Legal and transactio
Slide 32: Reconciliation of Cash Flows from Operations to Free Cash Flow
Reconciliation of Cash Flows Provided by (Used in) Operating Activities to Free Cash Flow 3Q22 3Q23 3Q24 3Q25 3Q26 Cash flows provided by (used in) operating activities $ (6,717) $ 8,887 $ 63,483 $ 37,441 $ 46,234 Investor Presentation July 2026 The Power of the Sonos System Less: Purchases of proper
Slide 33: SONOS
SONOS