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  "documentTitle": "Sonos | Results Presentation Deck | 22 slides",
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  "authorName": "Sonos",
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  "presentationDate": "2021-08-01 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 and anniversarying restructuring and related charges in the prior year quarter. Excluding restructuring and related charges LY, year-over-year increases in opex driven by the following factors:",
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      "text": "R&D +5.2% primarily due to higher personnel expenses and other costs. S&M +17.0% primarily due to higher marketing expenses related to new product launches, as well as an increase in revenue-related sales fees. G&A ex legal and transaction costs +26.3% due to IT investments and increased bonus and stock comp",
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      "text": "Strong Opex Leverage on Higher Sales, Anniversarying Restructuring LY",
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