Sonendo Q1 revenue $7.0M beats guidance; raises 2024 revenue outlook to $29-31M

Sonendo, Inc.

2024-Q1 EPS reported -$0.07 vs consensus $18.36 ▼ miss (-100.4%)

Q1 revenue $7.0M, exceeding guidance of $6.0M; installed base 1,142 consoles.
GAAP operating loss $10.2M; non-GAAP operating loss $7.5M, 41% improvement YoY.
GAAP gross margin 28%; non-GAAP 30%, improvement >700 bps vs Q1 2023.
Raised FY2024 revenue guidance to $29-31M from prior $28-30M.
Divested TDO practice management software in March 2024, gain of $5.7M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Sonendo, Inc. reported quarter ended March 31, 2024 results: revenue $7.0 million. Guidance raised.

Period: quarter ended March 31, 2024
Revenue: $7.0 million
Guidance: raised
Result: reported results

Exact text from the filing

company and developer of the GentleWave® System, today reported financial results for the first quarter ended March 31, 2024. Recent Highlights • Recorded total revenue of $7.0 million for first quarter of 2024, exceeding previously issued guidance of $6.0 million; ending the quarter with installed base of 1,142 and achieved a healthy console backlog •

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Source: SEC EDGAR

accession 0000950170-24-055640

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