Sonos, Inc. (NASDAQ:SONO) Q3 2023 Earnings Conference Call August 9, 2023 5:00 PM ET

Company Participants

James Baglanis - Senior Director, Investor Relations

Patrick Spence - Chief Executive Officer

Eddie Lazarus - Chief Financial Officer and Chief Legal Officer

Conference Call Participants

Erik Woodring - Morgan Stanley

Jason Haas - Bank of America

Mark Cash - Raymond James

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 Third Quarter Fiscal 2023 Earnings Conference Call. [Operator Instructions] Thank you.

James Baglanis, Head of Investor Relations, you may begin your conference.

James Baglanis

Thanks, Emma. Good afternoon, and welcome to Sonos Third Quarter Fiscal 2023 Earnings Conference Call. I am James Baglanis. And with me today are Sonos' CEO, Patrick Spence; and CFO and Chief Legal Officer, Eddie Lazarus. For those who joined the call earlier, today's hold music is a sampling from our Sunset Fuzz station.

Before I hand it over to Patrick, I would like to remind everyone that today's discussion will include forward-looking statements regarding future events and our future financial performance. These statements reflect our views as of today only and should not be considered as representing our views of any subsequent date. These statements are also subject to material risks and uncertainties that could cause actual results to differ materially from expectations reflected in the forward-looking statements. A discussion of these risk factors is fully detailed under the caption Risk Factors in our filings with the SEC.

During this call, we will refer to certain non-GAAP financial measures. For information regarding our non-GAAP financials and a reconciliation of GAAP to non-GAAP measures, please refer to today's press release regarding our third quarter fiscal 2023 results posted to the Investor Relations portion of our website.

As a reminder, the press release, supplemental earnings presentation and conference call transcript will be available on our Investor Relations website, investors.sonos.com. I would like to also note that for convenience, we have separately posted an investor presentation to our Investor Relations website, which contains certain portions of our supplemental earnings presentation.

I will now turn the call over to Patrick.

Patrick Spence

Thanks, James. And hello, everyone. Earlier this afternoon, we reported strong fiscal Q3 results. We are winning in the categories in which we play and I am proud of the team’s execution as we outperformed the competition. The categories of consumer electronics that we participate in remain challenged, as conditions have not yet returned to what we would consider normal and we continue to see unprecedented levels of discounting by our competitors.