Sonos, Inc. (NASDAQ:SONO) Q1 2023 Earnings Conference Call February 8, 2023 5:00 PM ET

Company Participants

James Baglanis - Senior Director, Investor Relations

Patrick Spence - CEO, President & Director

Edward Lazarus - CFO, Chief Legal Officer & Corporate Secretary

Conference Call Participants

Thomas Forte - D.A. Davidson & Co.

John Babcock - Bank of America Merrill Lynch

Erik Woodring - Morgan Stanley

Brent Thill - Jefferies

Operator

Good afternoon, and welcome to the Sonos First Quarter 2023 Earnings Call. [Operator Instructions].

I would now like to turn the call over to Mr. James Baglanis, Senior Director of Investor Relations. Thank you. Please go ahead, sir.

James Baglanis

Thank you. Good afternoon, and welcome to Sonos First 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 Say It Loud station, which is curated in collaboration with Black @ Sonos in recognition of Black History 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 fiscal -- our first 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. Our record first quarter revenue is a testament to the strength of the Sonos brand and our category leadership. It's another performance that proves our flywheel is working. We acquire new customers through disciplined marketing efforts and through our existing customers who tell their friends and family that they should get Sonos. Our existing customers return to make additional purchases, building out their Sonos systems and growing products per household.