UNITED STATES
`SECURITIES AND EXCHANGE COMMISSION
`Washington, D.C. 20549
`
`Form 10-K
`
`[R) ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SEC URITIES EXCHANGE ACT OF 1934
`For the fiscal year ended September 29, 2018
`or
`
`□ TRANSITION REPORT PURS UANT TO SECTION 13 OR 15(d) OF THE SECURITIES EX C HANGE ACT
`OF 1934
`Commission File Number: 001-38603
`
`SONOS, INC.
`
`(Exact name ef Registrant as specified in its charter)
`
`Delaware
`(State or other jurisdiction
`of incorporation or organization)
`614 Chapala Street
`Santa Barbara, CA
`(Addr ess of principal executive offices)
`
`03-0479476
`(I.R.S. Employer Identification No.)
`
`93101
`
`(Zip code)
`
`Registrant's
`
`telephone number,
`
`including area code: (805) 965-3001
`
`Securities registered pursuant
`
`to Section 12(b) of the Act:
`
`Titl e of each class
`Common Stock, $0.0001 par value
`
`Name of each exchange on which registered
`The Nasdaq Global Select Market
`
`Indicate by check marl:: if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes □ No lRl
`
`Indicate by check marl:: if the registrant is not req uired to file reports pursuant to Section 13 or Section 15(d) of th e Act. Yes □ No lRl
`
`Securities registered pursuant to Section 12(g) of the Act: None
`
`Indicate by check marl:: whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exc hang e Act of 1934 during the preceding 12 months (or for
`such shorter period that the registrant was required to file such rep orts), and (2) has been subject to such filing requirements for the past 90 days. Yes lRl No □
`
`Indicate by check marl:: whether the registrant has submitted electronically every Interactive Data File required to be submitted pur suant to Rule 405 of Regulation S-T (§ 232.40 5 of this
`chapter) durin g the precedin g 12 months (or for such shorter period that the reg istrant was requir ed to submit such file s) .
`Yes lRl No □
`
`Indicat e by check marl:: if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§ 229.405 of thi s chapter) is not contained her ein, and will not be contained, to the best of
`registrant 's knowled ge, in definitive proxy or info1mation statement s incorporated by reference in Part III of thi s Form 10-K or any amendment to this Form 10-K □
`
`Indicate by check marl:: whether the registrant is a large accelerated filer , an accelerated filer , a non-accelerated filer , a smaller repo1ting company or an emerging growth company. See the
`definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b -2 of the Exc hange Act (Check one):
`
`Lar ge accelerated filer
`□
`lRl
`Non -accelerated filer
`Emerging Growth Company
`□
`If an emerging growth company , indicate by check marl:: if the registrant has elected not to use the extended transition period for complying with any new or rev ised financial accounting
`standards provided pursuant to Section 13(a) of the Exchange Act □
`
`□
`
`□
`
`Indicate by check marl:: whether the registrant is a shell company (as defined in Rule 12b-2 of the Act) . Yes □ No lRl
`
`Accelerated Filer
`Smaller reporting company
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`Page 1 of 105
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`Implicit Exhibit 2089
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`

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`The registrant was not a public company as of the last business day of its most recently completed second fiscal quarter and therefore, cannot calculate the aggregate marl<et value of its voting
`and non-voting common equity held by non-affiliates as of such date.
`
`As of November 16, 2018, the registrant had 100,947,974 shares of common stock outstanding, $0.0001 par value per share.
`
`DOCUMENTS INCORPORATED BY REFERENCE
`
`Part III incorporates by reference certain info,mation from the registrant's definitive proxy statement (the "2018 Proxy Statement") relating to its 2018 Annual Meeting of Stockholder s. The
`2018 Proxy Statement will be filed with the United States Securities and Exchange Commission within 120 days after the end of the fiscal year to which this repo1t relate s.
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`Forward-Looking Sta1ements
`
`This Anrmal Report on Form 10-K contains fo,ward-looking statements. All statements other than statements of historical facts contained in this Annual
`Report on Form 10-K, including statements regarding future operations, are fo,ward-looking
`statements. In some cases, forward-looking statements may be
`identified by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "could," "would," "expect, " "objective," "plan," "potential, "
`"seek," "grow," "target," "if," and similar expressions intended to identifyfo,ward-looking
`statements. We have based thesefo,ward-looking
`statements largely on
`our current expectations and projections about.future events and trends that we believe may affect our financial condition, results of operations , business strategy ,
`statements are subject to a rmmber of risks, uncertainties
`short-tenn and long-tenn business operations and objectives and financial needs. Thesefo,ward-looking
`and assumptions, inch.Jding those described in the section titled "Risk Factors" set forth in Part I, Item JA of this Anrmal Report on Form 10-K and in our other
`filings with the Securities and Exchange Commission (the "SEC'~- Moreover, we operate in a very competitive and rapidly changing environment. New risks
`emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to
`which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In
`light of these risks, uncertainties and assumptions, the.future events and trends discussed in this Anrmal Report on Fonn 10-K may not occur and actua l results
`may differ materially and adversely from those anticipated or implied in the forward-looking statements. Forward-looking statements contained in this Annua l
`Report on Fonn 10-K inch.Jde, but are not limited to, statements about:
`
`our expectations regarding our results of operations, including gross margin,financial condition and cash flows;
`
`our expectations regarding the development and expansion of our business;
`
`anticipated trends, challenges and opportunities in our business and in the markets in which we operate;
`
`our ability to successfully develop and introduce new products at an increased pace;
`
`our ability to manage our international expansion;
`
`the effects of tart/ft, trade barriers and retaliatory trade measures ;
`
`our ability to expand our customer base and expand sales to existing customers;
`
`our expectations regarding development of our direct-to-consumer sales channels;
`
`expansion of our partner network;
`
`our ability to retain and hire necessary employees and staff our operations appropriately;
`
`the timing and amount of certain expenses and our ability to achieve operating leverage over time; and
`
`our ability to maintain, protect and enhance our intellectual property.
`
`We caution you that the foregoing list may not contain all of the fo,ward-looking statements made in this Anrmal Report on Fonn 10-K.
`
`You should not rely uponfo,ward-looking statements as predictions of future events. The events and circumstan ces reflected in the fo,ward-looking statements
`may not be achieved or occur. Although we believe that the expectations reflected in the forward-looking statements are reasonable , we cannot guarantee fa ture
`results, levels of activity, peiformance or achievements. Except as required by law, we do not intend to update any of these f orward -looking statements aft er the
`date of this Anrmal Report on Fonn 10-K or to confonn these statements to actual results or revised expectations.
`
`You should read this Anrmal Report on Form 10-K with the understanding that our actual future results, levels of activity, perfonnan ce and events and
`circumstances may be materially different from what we expect.
`
`3
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`Item 1: Business
`
`Overview
`
`PART I
`
`fill every home with music. This mission led us to invent wireless multi-room home audio. Sonos transforms
`Sonos was founded with a clear mission-to
`the way people live and interact by restoring the shared experience of music throughout the home. Our sound system provides an immersive listening experience
`created by our thoughtfully designed speakers and components, our proprietary software platform and the ability to wirelessly stream the content our customers
`love from the services they prefer.
`
`Sonos sits at the intersection of emerging trends driving the future of home entertainment. The proliferation of streaming services and the rapid
`adoption of voice assistants are significantly changing audio consumption habits and how consumers interact with the internet. As the leading sound system for
`consumers, content partners and developers, Sonos is poised to capitalize on the large market opportunity created by these dynamics.
`
`We debuted the world's first wireless multi-room sound system in 2005, and have since been a leading innovator in wireles s home audio. Today, our
`products include wireless speakers, home theater speakers and components to address consumers ' evolving home audio needs. We launched our first voice(cid:173)
`enabled wireless speaker, Sonos One, in October 2017, and our first voice-enabled home theater speaker, Sonos Beam, in July 2018. In addition to new product
`launches, we frequently introduce new features through software upgrades , providing our customers with enhanced functionality and improved sound in the
`home. We are committed to continuous technological innovation, as evidenced by our growing global patent portfolio of over 775 issued patents and 595
`applications. We believe our patents comprise the foundational intellectual property for wireless multi-room audio technology.
`
`Our network of partners provides our customers with access to voice control, streaming music, internet radio, podcasts and audio book content, enabling
`them to control and listen to an expansive range of home entertainment. Our platform has attracted a broad range of approximately 100 streaming content
`providers, such as Apple Music, Pandora, Spotify and Tuneln. These partners find value in our independent platform and access to our millions of desirable and
`engaged customers.
`
`As of September 29, 2018, our customers had registered nearly 21 million products in approximately 7.4 million household s globally. We also estimate that
`our customers listened to 5 .9 billion hours of audio content using our products in fiscal 2018 , which represent s 34% growth from fiscal 2017 .
`
`Our innovative products, seamless customer experience and expanding global footprint have driven 13 consecutive years of sustained revenue growth since
`our first product launch. We generate revenue from the sale of our wireless speakers, home theater speakers and component products, as new customers buy our
`products and existing customers continue to add products to their Sonos sound systems. In fiscal 2018, existing customers accounted for approximately 37% of
`new product registrations. We sell our products primarily through over 10,000 third-party physical retail stores, including custom installers of home audio
`systems. We also sell through select e-commerce retailers and our website sonos.com. Our products are distributed in over 50 countries, with 51 % of our
`revenue in fiscal 2018 generated outside the United States.
`
`Since our founding, we have focused on creating and enhancing a reliable, wireless multi-room sound system that simply works. The Sonos sound system
`integrates our speakers, proprietary software platform and a robust partner ecosystem to enable an immersive sound experience throughout the home . We
`manage the complexity of delivering a seamless customer experience in a multi-user and open-platform environment. The Sonos sound system is easy to set up,
`use and expand to bring the Sonic Internet to any room in the home. Through our software platform, we frequently upgrade features and services on our
`products, improving functionality and customer experience.
`
`4
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`Our products
`
`Our portfolio of products encourages customers to uniquely tailor their Sanos sound systems to best meet their sound and design preferences.
`
`Wireless speakers. Our wireless speakers include Play: 1, Play:3 and Play:5, as well as Sanos One, which includes native voice control.
`
`Home theater speakers. Our home theater products include speakers and a subwoofer designed to play audio content from TV /video . Our home theater
`products include Playbar, Playbase and Sub, as well as the recently released Sanos Beam, which includes native voice control.
`
`Components. Our Connect, Connect:Amp and Sanos Amp allow customers to convert third-party wired speakers, stereo systems or home theater setups
`into our easy-to-use, wirelessly controlled streaming music system.
`
`Our software
`
`Our proprietary software is the foundation of the Sanos sound system and further differentiates our products from those of our competitors. Our software
`provides the following key benefits:
`
`Multi-room experience. Our system enables our speakers to work individually or together in synchronized playback groups , powered by wireless mesh
`network capabilities to route and play audio optimally.
`
`Enhanced.functionality through software upgrades. Our platform enables us to understand and enhance our customers' listening and control experience,
`delivering feature updates and intelligent customization through remote software upgrades and cloud-based services.
`
`Intuitive and flexible control. Our customers can control their experiences through the Sanos app, voice control or an expanding number of third-party
`apps and smart devices. As our customers navigate across different controllers, our technology synchronizes the control experience across the Sanos
`platform to deliver the music and entertainment experience they desire.
`
`Advanced acoustics. We have made significant investments in our engineering team and audio technology, which have enabled us to create speakers that
`produce high-fidelity sound. For example, we invented technology to allow two of our speakers to pair wireless ly and create multi-channel sound, thereby
`enabling a much broader sound field. In addition , our Trueplay technology utilizes the microphones on an iOS device to analyze room attributes, speaker
`placement and other acoustic factors in order to improve sound quality.
`
`Our partner ecosystem
`
`We have built a platform that attracts partners to enable our customers to play the content they love from the services they prefer. Our partners span across
`content, control and third-party applications:
`
`Content. We partner with a broad range of content providers , such as streaming music services, internet radio stations and podcast services , allowing our
`customers to enjoy their audio content from whichever source they desire.
`
`Control. W e provide our customers with multiple options to control their home audio experiences, including voice control and direct control from within
`selected streaming music service apps.
`
`Third-party applications. We partner with third-party developers , including home automation integrators such as Crestron. These partners are building
`new applications and services on top of the Sanos platform , increasing customer engagement and creating new experiences for our customers .
`
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`Our competitive strengths
`
`We believe the following corn bination of capabilities and features of our business model distinguish us from our competitors and position us well to
`capitalize on the opportunities created by the Sonic Internet:
`
`Leading sound system . We have developed and refined our sound system with a singular focus for over 15 years. Our effort has resulted in significant
`consumer awareness and market share among home audio professionals . For example, a 2018 product study by a leading home audio publication of the
`top 100 custom integrator professionals ranked Sonos as the leading brand in the wireless audio, soundbar and subwoofer categories. Our 84% share in
`the wireless audio category among these industry professionals significantly outpaces our competitors.
`
`Platform enables freedom of choice for consumers . Our broad and growing network of partners provides our customers with access to voice control,
`streaming music, internet radio, podcasts and audiobook content, enabling them to listen to the content they love from the services they prefer. Our
`platform attracts a broad set of content providers, including leading streaming music services, and third-party developers.
`
`Differentiated consumer experience creates engaged households . We deliver a differentiated customer experience to millions of households every day ,
`cultivating a passionate and engaged customer base. Long-term engagement with our products and our ability to continuously improve the functionality of
`our existing products through software updates leads to attractive economics as customers add products to their Sonos sound systems.
`
`Commitment to innovation drives continuous improvement. We have made significant investments in research and development for over 15 years and
`believe that we own the foundational intellectual property of wireless multi-room audio. We have significantly expanded the size of our patent portfolio in
`recent years. In 2017, the strength of our patent portfolio placed us 2 nd in Electronics and 19 th overall in IEEE's Patent Power Report.
`
`Sound system expansion drives attractive financial model . We generate significant revenue from customers purchasing additional products to expand
`their Sonos sound systems, which has contributed to 13 consecutive years of sustained revenue growth. Existing households represented approximately
`3 7% of new product registrations in fiscal 2018 . We believe this aspect of our financial model will continue to be critical in sustaining our revenue
`growth over the long term.
`
`Our growth strategies
`
`Key elements of our growth strategy include:
`
`Consistently introduce innovative products. To address our market opportunity, we have developed a long-term roadmap to deliver innovative products
`and software enhancements , and intend to increase the pace of product introductions across multiple categories, including products designed for
`enjoyment in all the places and spaces that our customers listen to audio content , including outside of the home. Executing on our roadmap will position
`us to acquire new customers, increase sales to existing customers and improve the customer experience.
`
`Invest in geographic expansion. Geographic expansion represents a significant growth opportunity in currently unserved countries. We intend to expand
`into new countri es by employing country-specific marketing campaigns and distribution channels.
`
`Build direct relationships with existing and prospective customers. We intend to continue to build direct relationships with current and prospective
`customers through sonos.corn and the Sonos app to drive direct sales.
`
`Expand partner ecosystem to enhance platform . We intend to deepen our relationships with our current partners and expand our partner ecosystem to
`provide our customers access to streaming music services , voice assistants, internet radio, podcasts and audiobook content. For example, we introduced
`voice control with Amazon's Alexa technology in 2017 and Apple's Siri via Airplay 2 in 2018, and plan to introduc e Google Assistant in 2019.
`
`Increase brand awareness in existing geographic markets. We intend to increase our household penetration rates in our existing geographic markets by
`investing in brand awareness, expanding our product offerings and growing our partner ecosystem.
`
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`Sonosapp
`
`We offer our customers a single mobile app that controls the Sonos sound system and the entire listening experience. Customers can stream different audio
`content to speakers in different rooms or the same audio content synchronized throughout the entire home . Additionally, the Sonos app enables universal search,
`the ability to search for audio content across their streaming services and owned content to easily find, play or curate their favorite music.
`
`Sales and marketing
`
`We sell our products primarily through over 10,000 third-party physical retail stores, including custom installers of home audio systems, and our produc ts
`are distributed in over 50 countries. The majority of our sales are transacted through traditional physical retailers, including on their websites. We also sell
`through online retailers such as Amazon, to custom installers who bundle our products with services that they sell to their customers and directly through our
`website sonos.com. We sell products internationally through distributors and to retailers. These retailers also sell products offered by our competitors. In fiscal
`2018, Best Buy accounted for 17% of our revenue and the ALSO Group, our distributor in Germany, Sweden, Denmark and Norway, accounted for 10% of our
`revenue.
`
`Our marketing investments are focused on driving profitable growth through advertising, public relations and brand promotion activities, including
`digital, out-of-home, print, sponsorships, brand activations and channel marketing. We invest in customer experience and customer relationship management to
`drive loyalty, word-of-mouth marketing and growth of our direct channels. We intend to continue to invest significant resources in our marketing and brand
`development efforts, including investing in capital expenditures on product displays to support our retail channel partners.
`
`Research and development
`
`Our research and development team develops new products and improves and enhances our existing products. We leverage the data that we gather from our
`products in the development of new features and enhancements to the Sonos sound system.
`
`We intend to continue to significantly invest in research and development to bring new products to market and expand our platform and capabilities .
`
`Manufacturing, logistics andfalfillment
`
`We outsource the manufacturing of our speakers and components to contract manufacturers, using our design specifications. Our products are manufactured
`by Inventec Appliances Corporation ("lnventec") in China and other contract manufacturers.
`
`Our contracts with Inventec and our other contract manufacturers do not obligate them to supply products to us in any specific quantity, except as specified
`in our purchase orders that are aligned with forecasts based on terms and conditions of the contract. Our contract manufacturer s assemble our products to
`demand forecasts we establish based upon historical trends and analysis from our sales and product management functions. The vast majority of our products are
`shipped to our third-party warehouses and we then ship to our distributors , retailers and directly to our customers. Our third party warehouses are located in the
`United States in California and Pennsylvania, as well as internationally in Australia, Canada and the Netherlands.
`
`We use a small num her of logistics providers for substantially all of our product delivery to both distribut ors and retailers . This approach allows us to reduce
`order fulfillment time, reduce shipping costs and improve inventory flexibility.
`
`Competition
`
`We compete against established, well-known sellers of speakers and sound systems such as Bang & Olufsen, Bose, Samsung (and its subsidiaries Harman
`International and JBL), Sony and Sound United (and its subsidiaries Derron and Polk), and against developers of voice-enabled speakers and other voice-enabled
`products such as Amazon, Apple and Google. In some cases, our competitors are also our partners in our product development and resale and distributi on
`channels. Many of our competitors have significant market share, diversified product lines, well-established supply and distribution systems , strong worldwide
`brand recognition, loyal customer bases and significant financial , marketing, research, development and other resources .
`
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`The principal competitive factors in our market include:
`
`brand awareness and reputation;
`
`breadth of product offering;
`
`pnce;
`
`sound quality;
`
`multi-room and wireless capabilities;
`
`custom er support;
`
`product quality and design;
`
`ease of setup and use; and
`
`network of technology and content partners.
`
`We believe we compete favorably with our competitors on the basis of the factors described above.
`
`Government regulation
`
`Our business and products are subject to numerous U.S. federal and state and foreign laws and regulations covering a wide variety of subject matters . These
`laws and regulations include general business regulations and laws, as well as regulations and laws specific to providers of internet-delivered streaming services
`and devices.
`
`In particular, our business is subject to foreign and U.S. federal and state laws and regulations applicable to compani es conducting business using the
`internet. Both domestic and internati onal jurisdictions vary widely as to how or whether existing laws governing areas such as personal privacy and data security,
`consumer protection, payment processing or sales and other taxes and intellectual property apply to the internet and e-commerce. These laws, as well as those
`governing electronics contracts, and internet content and access restrictions, are continually evolving.
`
`Additionally , we are subject to both general and e-commerce-specific privacy laws and regulations that may require us to provide users with our policies on
`sharing infonnation with third parties and advance notice of any changes to these policies. Related laws may govern the manner in which we store or transfer
`sensitive infonnation or impose obligations on us in the event of a security breach or inadvertent disclosure of such infonnati on. International jurisdictions
`impose different , and sometimes more stringent, consumer and privacy protections .
`
`Tax regulations in domestic and international jurisdictions where we do not currently collect state or local taxes may subject us to the obligation to collect
`and remit such taxes, to additional taxes or to requirements intended to assist jurisdiction s with their tax collection efforts. New legislation or regulation, the
`application oflaws from jurisdictions whose laws do not currently apply to our business or the application of existing laws and regulations to the internet and e(cid:173)
`commerce generally could result in significant additional taxes on our business.
`
`In addition, the internet is a vital component of our business and also is subject to a variety oflaws and regulations in jurisdictions throughout the world . We
`expect to rely on the historical openness and accessibility of the internet and the current balanced approach of network operat ors to conduct our business, and
`government regulations that impede or fail to preserve the open internet could harm our business.
`
`The laws in each of these areas are continually changing and evolving in unpredictable ways. New laws and regulations in any of these areas, as well as
`compliance with these laws (and their derivatives) may have an adverse effect on our business . If we fail to comply with these laws we may be subject to
`significant liabiliti es and other penalties
`
`Our content partners also are subject to a wide range of government regulations that may vary by jurisdiction . Because our business depends in part on the
`availability of third-party content delivered over the intern et, increas ed regulation of our content
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`partners or changes in laws or regulations governing internet retransmission ofthird-par1y content could increase our expenses and adversely affect our business
`and the attractiveness of our platform.
`
`Intellectual property
`
`Intellectual proper1y is an important aspect of our business, and we seek protection for our intellectual proper1y as appropriate. To establish and protect our
`proprietary rights, we rely upon a combination of patent, copyright, trade secret and trademark laws and contractual restrictions such as confidentiality
`agreements, licenses and intellectual proper1y assignment agreements. We maintain a policy requiring our employees, contractors, consultants and other third
`parties to enter into confidentiali1y and proprietary rights agreements to control access to our proprietary information. These laws, procedures and restrictions
`provide only limited protection, and any of our intellectual proper1y rights may be challenged, invalidated , circumvented , infringed or misappropriated.
`Furthermore, the laws of certain countries do not protect proprietary rights to the same extent as the laws of the United States, and we therefore may be unable to
`protect our proprietary technology in certain jurisdictions.
`
`As of September 29, 2018, we had been granted more than 775 patents and had over 595 patent applications pending. Our patents expire between 2024 and
`203 7. Our patents and patent applications focus on technology for the ability to stream content wirelessly to multiple rooms in the home. We continually review
`our development efforts to assess the existence and patentability of new intellectual proper1y. We pursue the registration of our domain names, trademarks and
`service marks in the United States and in certain locations outside the United States. To protect our brand, we file trademark registrations in some jurisdictions.
`
`We also enter into licensing agreements with our third-par1y content partners to provide access to a broad range of content for our customers.
`
`Employees
`
`As of September 29, 2018, we had 1,352 full-time employees. Ofour full-time employees, 928 were in the United States and 424 were in our international
`locations. Other than our employees in France and the Netherlands , none of our employees are represented by a labor union or covered by a collective bargaining
`agreement. We have not experienced any work stoppages. We consider our relationship with our employees to be good.
`
`Corporate infonnation
`
`We incorporated in Delaware in August 2002 as Rincon Audio, Inc. and we changed our name to Sonos, Inc. in May 2004. We completed the initial public
`offering ("!PO") of our common stock in August 2018 and our common stock is listed on The Nasdaq Global Select Market under the symbol of "SONO ." Our
`principal executive offices are located at 614 Chapala Street, Santa Barbara, California 93101, and our telephone number is (805) 965-3001.
`
`Our website address is www.sonos.com. The information on, or that can be accessed through , our website is not incorporated by reference into this Annual
`Report on Form 10-K. Investors should not rely on any such information in deciding whether to purchase our common stock.
`
`Sonos, the Sonos logo, Sonos One, Sonos Beam, Play: 1, Play:3, Play:5, Playbase, Playbar, Connect, Connect:Amp, Sonos Amp, Sub and our other
`registered or common law trademarks, tradenames or service marks appearing in this Annual Report on Form I 0-K are our proper1y. Solely for convenience, our
`trademarks, tradenames and service marks referred to in this Annual Report on Form 10-K appear without the® , TM and SM symbols, but those referenc es are
`not intended to indicate, in any way, that we will not assert, to the fullest extent under applicable law, our rights to these trademarks, tradenames and service
`marks . This Annual Report on Form 10-K contains additional trademarks , tradenames and service marks of other companies that are the proper1y of their
`respective owners.
`
`Available infonnation
`
`We make available, free of charge through our website, our annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K,
`and amendments to those reports, filed or furnished pursuant to Sections