Sonos
non measures we have provided in this presentation information that has not been prepared in accordance with we use these non measures to evaluate our operating performance and trends and make planning decisions we believe that these non measures help identify underlying trends in our business that could otherwise be masked by the of the expenses and other items that we exclude in these non measures accordingly we believe that these non measures provide useful information to investors and in understanding and evaluating our operating results enhancing the overall understanding of our past performance and future prospects and allowing for greater transparency with respect to a key metric used by our management in its and operational decision making non measures should not be considered in isolation of or as an alternative to measures prepared in accordance with we adjusted as net income adjusted to exclude the impact of depreciation stock based compensation expense interest income interest expense other income expense income taxes and other items that we do not consider representative of our underlying operating performance we adjusted margin as adjusted divided by revenue we calculate gross margin excluding the impact of tari duties and refunds as gross pro dollars removing the impact of tari imposed on goods imported to the from china and any tari refunds subject to a tari refund claim approved by customs and border protection divided by revenue we free cash as net cash from operations less purchases of property and equipment we calculate adjusted excluding the impact of tari as net income excluding the impact of tari imposed on goods manufactured in china and any tari refunds subject to a tari refund claim approved by customs and border protection and adjusted to exclude the impact of depreciation stock based compensation expense interest income interest expense other income expense income taxes and other items that we do not consider representative of our underlying operating performance we do not provide a reconciliation of forward looking non measures to their comparable measures because we cannot do so without unreasonable ort due to unavailability of information needed to calculate reconciling items and due to the variability complexity and limited visibility of the adjusting items that would be excluded from the non measures in future periods when planning forecasting and analyzing future periods we do so primarily on a non basis without preparing a analysis as that would require estimates for certain items such as stock based compensation which is inherently cult to predict with reasonable accuracy stock based compensation expense is cult to estimate because it depends on our future hiring and retention needs as well as the future fair market value of our common stock all of which are cult to predict and subject to constant change in addition for purposes of setting annual guidance it would be cult to quantify stock based compensation expense for the year with reasonable accuracy in the current quarter as a result we do not believe that a reconciliation would provide meaningful supplemental information about our outlook | Sonos
Company
Deck Type
Sector
Industry
Deck date
March 2021
Slide
69 of 74
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