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  "documentTitle": "Sonos | Results Presentation Deck | 40 slides",
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  "presentationDate": "2023-11-01 00:00:00",
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  "notes": "Includes non-GAAP measures disclaimer.",
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      "text": "Note: $ in millions (unless noted), unaudited. Free cash flow and Adjusted EBITDA are non-GAAP measures. See appendix for reconciliation of GAAP to non-GAAP measures. Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.",
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      "text": "Cash flow provided by operations of $100M, +$129M y/y from -$28M in FY22. Driven by working capital improvements mainly related to reductions in our inventory position",
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      "text": "Completed $100M share repurchase program in FY23; 6.6M shares repurchased at average price of $15.25 per share. Q4 repurchases totaled $55M; 4.0M shares repurchased at average price of $13.71. Largest quarterly repurchase in company history",
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      "text": "Free cash flow of $50M, +$125M y/y from -$75M in FY22",
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      "text": "Cash and cash equivalents of $220M, no debt. Key contributors to y/y decrease in cash balance driven by: $100M in share repurchase partially offset by an improvement in free cash flow generation",
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      "text": "Capex of $50M, +9% y/y, largely driven by in-store product display investments and manufacturing-related investments to support the launch of new products including Era 100/300 and Move 2, plus future new product introductions (NPIs)",
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      "text": "Cash flow from operations, Capital expenditures, % of revenue, Free cash flow, Free cash flow / Adj EBITDA, Ending cash & cash equivalents, Total debt",
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