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  "documentTitle": "Sonos | Investor Day Presentation Deck | 74 slides",
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  "authorName": "Sonos",
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  "presentationDate": "2021-03-01 00:00:00",
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  "notes": "The slide uses two line charts to demonstrate business model efficiency: one showing declining acquisition costs over fiscal years, and one showing increasing product registration over customer tenure.",
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      "text": "Household Acquisition Cost",
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      "text": "... while existing customers continue to expand their Sonos system",
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      "text": "Notes: Household acquisition cost is calculated by dividing our sales and marketing expenses by the number of net new households added during the fiscal year. FY20 excludes restructuring costs. Avg. Products Registered represents the weighted avg. new registrations per owner (the best proxy for households) for owners who joined Sonos FY13 and later. Fiscal year cohorts are only included when they have had the full year of data available.",
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