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Sonos Inc. Launches Amp Multi — Can Professional Installation Drive the Next Phase?

Sonos reported third-quarter fiscal 2026 revenue of $375 million, up 9% year over year and near the high end of guidance. Growth was broad-based: Asia Pacific rose 27%, Europe, Middle East and Africa 17%, and the Americas 4%. Constant-currency revenue increased 7%, accelerating from prior quarters. Results benefited from full availability of recently launched Sonos Play and Era 100 SL products. Non-GAAP gross margin was 45.5%, also near the top of guidance, despite significant cost pressure from higher memory prices. Memory inflation reduced adjusted EBITDA by about $14 million in Q3 and is expected to create a $35 million headwind in Q4. It also contributed to roughly 380 basis points of year-over-year gross-margin compression in Q3. Excluding tariff refund benefits, however, gross margin improved 90 basis points due to tariff mitigation and operating leverage.