Sonos, Inc. (NASDAQ:SONO) Q2 2023 Earnings Conference Call May 10, 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

Thomas Forte - D.A. Davidson

Brent Thill - Jefferies

Operator

Good day everyone, and welcome to the Sonos Second Quarter Fiscal 2023 Conference Call. At this time, all participants are in a listen-only mode. Later we will take your questions. [Operator Instructions]

And now I would like to hand the call over to Mr. James Baglanis, Head of Investor Relations. Please go ahead, sir.

James Baglanis

Good afternoon, and welcome to Sonos second 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 Sweets and Spices station, which is curated in collaboration with API at Sonos in recognition of Asian and Pacific Islander month.

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 second 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

Thank you, James. And hello, everyone. This quarter was a tale of two cities. We executed the biggest and most successful launch in our history, and we did something groundbreaking by launching two new products simultaneously. Era 100 and Era 300. Era 100 is the next generation of our best selling Sonos one, featuring all new hardware and software with Next Gen acoustics and design that delivers detailed stereo sound and deep base. Era 300 is a bold, revolutionary new speaker that offers the best out loud listening experience for your favorite spatial audio content with Dolby Atmos.