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  "docSlug": "59755d7f194bd0ea2469f9ad063016ca",
  "documentTitle": "Sonos | Results Presentation Deck | 33 slides",
  "authorId": "sonos",
  "authorName": "Sonos",
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  "sourceTypeSlug": "investor_relations",
  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2023-05-01 00:00:00",
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  "nDataPoints": 6,
  "notes": "The chart uses a waterfall-bridge style element to show the impact of FX on 2Q23 margins.",
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      "kind": "chart",
      "text": "Gross margin performance from 2Q21 to FY23 guidance",
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      "kind": "list",
      "text": "Unfavorable product mix shift resulting from home theater weakness\nInventory reserve build related to discontinued products and excess components\nUnfavorable FX (approximated to be -110bps headwind y/y)\nPartially offset by fewer spot component purchases",
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      "text": "Gross margin declined -150bps y/y driven by:",
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      "kind": "source-note",
      "text": "Note: Unaudited. Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely. Gross margin excluding the impact of foreign exchange is a non-GAAP measure. See appendix for reconciliation of GAAP to non-GAAP measures.",
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      "kind": "title",
      "text": "Resilient Underlying Gross Margin Performance Amidst CE Industry Compression",
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      "arcName": "The Sequoia Pitch",
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      "beatName": "Solution",
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      "evidence": "The presentation then presents Sonos' solution, including its financial performance and strategy",
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      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
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