Sonendo prelim Q3 rev $7.9-$8.0M, raises FY2024 guidance; stalking horse bid for Biolase assets

Sonendo, Inc.

2024-Q3 EPS reported -$45.59 vs consensus -$20.40 ▼ miss (-123.5%)

Total revenue expected $7.9-$8.0M; console approx $1.8M, procedural instruments approx $5.1M.
Cash, cash equivalents and short-term investments approx $17.3M at Sept 30, 2024.
Full-year 2024 revenue guidance raised to $31.5-$32.5M from prior $31.0-$32.0M.
Double-digit console backlog for third straight quarter.
Positioned as stalking horse bidder to acquire certain assets of Biolase in Chapter 11 bankruptcy.

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