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  "documentTitle": "Sonos | Results Presentation Deck | 34 slides",
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  "authorName": "Sonos",
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  "presentationDate": "2024-02-01 00:00:00",
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  "notes": "Includes regional revenue breakdown and margin analysis.",
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      "text": "Q1 Revenue comparison 1Q23 vs 1Q24",
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      "text": "Q1 Adjusted EBITDA comparison 1Q23 vs 1Q24",
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      "text": "Revenue -8.9% y/y, or -10.5% constant currency, to $612.9M primarily driven by: Declines in our retail and other channels, as partners normalized ordering levels, as well as softer demand, partially offset by the impact of favorable foreign exchange rates",
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      "text": "Adjusted EBITDA of $115.2M, representing margin of 18.8%, +40bps y/y, driven by: Gross margin expansion, partially offset by lower revenue and increased advertising and marketing spend",
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      "text": "Source: Internal data. Note: All comparisons y/y (unless otherwise noted). $ in millions (unless noted), unaudited. Adjusted EBITDA, Adjusted EBITDA margin and constant currency 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": "Q1 Financial Summary",
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