- Adjusted EBITDA was $36 million, at the high end of guidance, despite revenue declines, driven by expense discipline.
- Free cash flow improved to $33 million from negative $65 million last quarter, with CapEx at $5 million.
- GAAP operating expenses were $153 million, down 15% year-over-year; non-GAAP operating expenses were $131 million, also down 15%, and $9 million below guidance.
- Gross margin was 43.4% GAAP and 44.7% non-GAAP, with tariff expenses impacting gross margin by 60 basis points.
- Net cash increased by $30 million sequentially to $254 million, including $53 million in marketable securities.
- Sonos reported Q3 2025 revenue of $345 million, exceeding the high end of guidance and declining 13% year-over-year, but better than the expected 22% to 14% decline range.
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Dafinchi