Sonder Q1: RevPAR +13%, revenue -11%, net loss widens; Nasdaq notice for Q2 delinquency

Sonder Holdings Inc.

RevPAR $139 (+13% YoY), occupancy 83% (+7pp), but bookable nights down 21% and revenue $118.9M (-11% YoY).
Net loss $56.5M (+12% YoY); Adjusted EBITDA -$56.7M (flat); Adjusted Free Cash Flow -$6.9M (improved 76%).
Cash, equivalents, and restricted cash $66.5M (incl. $43.2M restricted) as of March 31, 2025.
Received Nasdaq notice Aug 20 for failure to timely file Q2 2025 10-Q; must submit compliance plan update by Sep 4, 2025.
Previously delinquent on 2024 10-K and Q1 10-Q; Q1 10-Q filed Aug 25, 2025.

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