SONX 8-K: Sonendo Q1 revenue $10.7M (+19% YoY); net loss $15.4M; maintains FY guidance

Sonendo Q1 revenue $10.7M (+19% YoY); net loss $15.4M; maintains FY guidance

Sonendo, Inc.

2023-Q1 EPS reported -$0.16 revenue$10,724,000

Procedure instrument revenue $5.7M (+33% YoY); installed base reached 1,005 GentleWave consoles.

Gross margin improved to 31% from 25% in Q1 2022 and 27% in Q4 2022.

Net loss $15.4M vs $15.5M in prior year; operating loss $14.8M.

Q2 2023 revenue guidance $11.0M-$11.4M; full-year reaffirmed at $48M-$51M.

Cash and short-term investments $74.9M as of March 31, plus $3.2M ERC received in April.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Sonendo, Inc. reported the quarter ended March 31, 2023 results: revenue $10.7 million, net income $15.4 million. Guidance reaffirmed.

Period: the quarter ended March 31, 2023
Revenue: $10.7 million
Net income: $15.4 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Total Revenue was $10.7 million for the first quarter of 2023, an increase from $9.0 million for the first quarter of 2022. GentleWave console revenue was $2.0 million for the first quarter of 2023 and $2.1 million for the first quarter of 2022. Procedure instrument revenue was $5.7 million, an increase from $4.3 million for the first quarter of 2022. Software revenue was $2.0 million, an increase from $1.8 million for the first quarter of 2022. Gross margin for first quarter of 2023 was 31%, compared to 25% for the first quarter of 2022. Total operating expenses for the first quarter of 2023 were $18.2 million, compared to $16.8 million for the first quarter of 2022. Loss from operations was $14.8 million for the first quarter of 2023, compared to $14.6 million for the first quarter of 2022. Non-GAAP loss from operations was $12.4 million for the first quarter of 2023 compared to $12.8 million for the first quarter of 2022. Non-GAAP loss from operations excludes stock-based compensati

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