SONO

• GAAP gross margin was 50.4%; Non-GAAP gross margin was 45.5%.
• GAAP net income was $30 million ($0.25 diluted EPS), up $33 million year-over-year.
• Adjusted EBITDA increased 24% year-over-year to $44 million.
• Returned $30 million to shareholders via repurchase of 2.0 million shares; free cash flow was $40 million.

2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits

• Shackelton is Co-Founder and Managing Partner of Coliseum Capital Management and is deemed independent under Nasdaq standards; he has not been assigned to any board committees.
• CFO Saori Casey informed the company of her intent to retire; she will remain CFO until a successor is appointed and stay through a transition period.
• The company has engaged an executive search firm to identify and evaluate potential successors for the CFO role.
• Casey's retirement is not due to any dispute or disagreement with the company.

5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits

• Frank Barbieri, 58, appointed Chief Operating Officer and principal operating officer, effective May 4, 2026.
• Barbieri receives a $500,000 base salary, 65% target annual cash bonus, $1.5M RSUs, and $1.5M target PSUs.
• Eddie Lazarus will no longer serve as Business Development Officer but remains Chief Legal Officer.
• Sonos reported Q2 FY2026 revenue of $282 million, up 8% year-over-year, and Adjusted EBITDA of $2 million.

2.02 Results of Operations and Financial Condition · 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 9.01 Financial Statements and Exhibits

• The charter amendment was filed on March 10, 2026, and the board approved conforming bylaw amendments the same day.
• Three Class II directors were elected: Carmine Arabia, Tom Conrad, and Julius Genachowski, each for three-year terms.
• Stockholders ratified KPMG LLP as independent auditor for fiscal year ending October 3, 2026, and approved advisory say-on-pay for named executive officers.
• Approximately 88.7% of outstanding shares (107,214,517) were present or represented at the meeting.

5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year · 5.07 Submission of Matters to a Vote of Security Holders · 9.01 Financial Statements and Exhibits

• GAAP net income was $94 million ($0.75 diluted EPS); non-GAAP net income was $116 million ($0.93 diluted EPS).
• Adjusted EBITDA was $132 million, up 45% from $91 million a year ago; Adjusted EBITDA margin was 24.2%.
• GAAP gross margin was 46.5%; non-GAAP gross margin was 47.5%.
• The company did not provide forward guidance in the release, deferring to the earnings call.

2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits

• Sonos increased its board from eight to ten members and appointed Carmine Arabia, Mandy Fields, and Joe Kennedy as new directors, effective January 12, 2026.
• Each new director is deemed independent under Nasdaq Listing Standards and will receive standard non-employee director compensation and a standard indemnification agreement.
• Arabia is VP of Devices at Meta; Fields is CFO of e.l.f. Beauty; Kennedy is former CEO and President of Pandora.
• The appointments were announced in a press release furnished as Exhibit 99.1.

5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits

• Q4 Adjusted EBITDA was $6.4 million, above the midpoint of guidance range.
• Fiscal 2025 revenue was $1,443.3 million, with GAAP net loss of $61.1 million and non-GAAP net income of $78.5 million.
• Fiscal 2025 Adjusted EBITDA was $132.3 million, up from $107.9 million in fiscal 2024.
• Guidance will be provided on the earnings call; no specific figures were included in the press release.

2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits

• GAAP gross margin was 43.4% and Non-GAAP gross margin was 44.7%.
• GAAP net loss was $3.4 million, or $0.03 diluted loss per share; Non-GAAP net income was $22.6 million, or $0.19 diluted EPS.
• Adjusted EBITDA was $36 million, at the high end of guidance.
• The company will provide guidance on its Q3 FY2025 earnings call.

2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits