Sonos, Inc. (NASDAQ:SONO) Q2 2022 Earnings Conference Call May 11, 2022 5:00 PM ET

Company Participants

Patrick Spence - Chief Executive Officer

Brittany Bagley - Chief Financial Officer

Conference Call Participants

Erik Woodring - Morgan Stanley

Rod Hall - Goldman Sachs

John Babcock - BofA

Thomas Forte - D.A. Davidson

Brent Thill - Jefferies

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 Second Quarter Fiscal 2022 Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker’s remarks, there will be a question-and-answer session [Operator Instructions] Thank you. Bill Newby [ph], you may begin your conference.

Unidentified Company Representative

Thanks, Emma and good afternoon, everyone and welcome to Sonos' Second Quarter Fiscal 2022 Earnings Conference Call. I'm Bill Newby and with me today are Sonos' CEO, Patrick Spence; and Brittany Bagley, CFO; Chief Legal Officer, Eddie Lazarus will also be available during the question-and-answer session.

Before I turn 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 also 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 2022 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 will now turn the call over to Patrick.

Patrick Spence

Thanks, Bill and hello, everyone. Our music today was brought to you by award-winning artist Lorde. Her new Sonos Radio station solar system launched today and showcases the songs and stories that move, shape and inspire her both at home and outdoors. Last quarter I talked in detail about the power of our flywheel and Q2 was another proof point built is working. We delivered record-setting Q2 revenue ahead of our expectations, representing more than 20% year-over-year growth. That's even more impressive in light of the fact that we delivered this 20% growth on top of the 90% year-over-year growth we delivered in Q2 of last year.