Sonendo posts Q2 revenue $8.3M; reduces adj. EBITDA loss 55% YoY; raises FY guidance

Sonendo, Inc.

2024-Q2 EPS reported -$0.15 vs consensus -$24.48 ▲ beat (+99.4%)

Revenue $8.3M; GAAP gross margin 37.5% vs -5.5% YoY; adjusted gross margin 40.7%.
GAAP operating loss $6.7M vs $18.1M Q2 2023; adjusted EBITDA loss $5.7M, down 55% YoY.
Raised FY 2024 revenue guidance to $31-32M from $29-31M; cites commercial discipline and margin expansion.
Free cash flow burn improved to -$6.7M from -$9.8M YoY; console backlog maintained for second straight quarter.
Management highlights GentleWave G4 reliability; upgrade programs re-engaging legacy customers.

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