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  "documentTitle": "Sonos | Results Presentation Deck | 22 slides",
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  "presentationDate": "2021-05-01 00:00:00",
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      "text": "Note: $ in millions, unaudited. See appendix for reconciliation of GAAP to non-GAAP measures. Percentages and sums have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.",
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      "text": "Drove significant opex leverage on the higher sales base. Year-over-year increases in opex driven by the following factors: R&D +13.7% primarily due to increased bonus and stock comp. S&M +13.3% primarily due to increased bonus and stock comp and marketing investments offset partially by savings from the 2020 restructuring. G&A ex legal and transaction costs +17.9% due to increased bonus and stock comp offset partially by savings from the 2020 restructuring.",
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      "text": "Strong Opex Leverage on Higher Sales",
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