Sonos Q3 revenue $355M-$375M, consensus $362.21M

Sees Q3 adjusted EBITDA $20M-$48M. Sees Q3 GAAP gross margin 42%-44.5%. Sees Q3 operating expenses $132M-$142M. Says guidance represents modest year over year acceleration from Q2 on a constant currency basis, as the company expects foreign exchange to have a negligible contribution to growth in Q3. Says gross margin guidance range embeds an approximately 400 basis point year-over-year headwind from higher memory costs in Q3, roughly 200 basis points more than Q2. Says do not expect to receive any tariff refunds during Q3. Says currently expects memory cost inflation to rise from Q3, which is likely to pressure gross margin in Q4. Comments and guidance taken from Q2 earnings conference call.