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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 adjustments for FX and excess component provisions.",
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      "text": "Gross margin progression from 4Q22 to FY24 guidance",
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      "text": "Q4 Gross margin increased +270bps y/y driven by: Fewer spot component purchases, price increases, FX tailwind (110 bps), and lower component costs. Partially offset by timing of recognition of contra-revenue related to select channel fill ahead of holiday season and higher excess component provisions.",
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      "text": "Expected FY24 Gross Margin Recovery to be Driven By: Lower component costs, favorable product mix, fewer spot component purchases and lower excess component provisions",
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