Highest-materiality recent filing
Sonendo defers debt amortization, conditions relief on $8M equity raise by March 31
Feb 28, 2025 amortization payment deferred to March 31; waived if $8M gross proceeds equity raise completed by that date.
Sonendo loses Biolase stalking-horse auction; expects break-up fee and expense reimbursement
Sonendo was not the winning bidder in Biolase bankruptcy auction held Nov 4, 2024.
Sonendo Q3 revenue $8M, gross margin 41.2%, operating loss $7.5M; evaluating strategic alternatives
Q3 2024 total revenue $8.0M; GAAP operating loss $7.5M, improved 57% YoY.
Sonendo announces 1-for-200 reverse stock split effective Oct 18, 2024
Reverse stock split at 1-for-200 ratio, effective October 18, 2024.
Sonendo prelim Q3 rev $7.9-$8.0M, raises FY2024 guidance; stalking horse bid for Biolase assets
Total revenue expected $7.9-$8.0M; console approx $1.8M, procedural instruments approx $5.1M.
Sonendo to acquire certain Biolase assets for $14M; files $59M patent claim
Sonendo signs asset purchase agreement to buy dental laser assets of bankrupt Biolase for $14M cash plus liability assumption.
Sonendo signs non-binding LOI to serve as stalking horse bidder for Biolase assets in Ch. 11
Wholly-owned subsidiary entered non-binding LOI on Aug 30, 2024 with Biolase, Inc.
Sonendo Chief Talent Officer Roy T. Chen resigns effective Sept 6, 2024; role not replaced
Roy T. Chen resigns as Chief Talent Officer to pursue another opportunity.
Sonendo dismisses EY, appoints BDO as auditor; EY reports cited going concern doubt
Dismissed Ernst & Young as independent accountant effective Aug 14, 2024.
Sonendo posts Q2 revenue $8.3M; reduces adj. EBITDA loss 55% YoY; raises FY guidance
Revenue $8.3M; GAAP gross margin 37.5% vs -5.5% YoY; adjusted gross margin 40.7%.
Sonendo annual meeting elects directors, ratifies EY, approves reverse stock split up to 1:200
Anthony P. Bihl III and Carolyn Beaver elected Class III directors with 33.3M and 33.2M votes for, plus 14.8M broker non-votes.
Sonendo appoints new CFO, SVP Marketing, promotes SVP Operations; adds 1M shares to inducement plan
John Bostjancic appointed CFO effective June 5, 2024; salary $425k, 60% target bonus, 720k RSUs vesting over 4 years.
Sonendo Q1 revenue $7.0M beats guidance; raises 2024 revenue outlook to $29-31M
Q1 revenue $7.0M, exceeding guidance of $6.0M; installed base 1,142 consoles.
Sonendo withdraws NYSE delisting appeal; stock moves to OTCQX
Sonendo withdrew its appeal of the NYSE's delisting determination on April 11, 2024.
Director Sadie Stern to not stand for reelection to Sonendo board at 2024 annual meeting
Sadie Stern notified on April 5, 2024, she will not stand for reelection at the 2024 Annual Meeting.
Sonendo appoints Chris Guo as Interim CFO with $300K salary and $60K retention bonus
Chris Guo appointed Interim CFO effective March 15, 2024, per original 8-K of March 8.
Sonendo reports FY2023 rev $43.9M (+5%), guides FY2024 rev $28-30M; sells TDO, restructures debt
FY2023 rev $43.9M (+5% YoY); Q4 rev $11.7M (down from $12.2M).
Sonendo CFO Michael P. Watts resigns effective March 15; Chris Guo appointed Interim CFO
Michael P. Watts resigns as CFO, effective March 15, 2024, to pursue other opportunities; no disagreement with company.
Sonendo sells TDO Software for ~$16M, repays $15M debt to Perceptive Credit
Sold TDO Software assets to Valsoft for ~$16.0M total; $15.0M paid at closing, balance in ~12 months.
Director Karen McGinnis resigns from Sonendo board effective March 31, 2024
Karen McGinnis notified board of resignation from directorship and Audit/Compensation Committees.
Sonendo receives NYSE delisting notice; to trade on OTCQX from Nov 22, 2023
30-day avg market cap was ~$15.5M; stockholders' equity at Sept 30, 2023 was ~$37.8M.
Sonendo Q3 revenue up 6% to $10.4M; net loss widens to $17.0M, cuts workforce
Total revenue $10.4M (+6% YoY); procedure instrument revenue $5.1M (+7% YoY).
Sonendo reports preliminary Q3 2023 revenue of $10.4M; reiterates FY 2023 guidance $44-46M
Preliminary Q3 2023 total revenue approximately $10.4 million.
Sonendo receives NYSE non-compliance notice for share price below $1.00
Received NYSE notice on Sept 28, 2023, for average closing price <$1.00 over 30 consecutive trading days.
Sonendo Q2 revenue up 5% to $11M; net loss widens to $17.7M; guides FY rev $44-46M
Total revenue $11.0M (+5% YoY); procedure instrument revenue $5.6M (+16% YoY).
Sonendo expands CleanFlow instrument to anterior teeth, boosting fluid energy delivery
CleanFlow Procedure Instrument now indicated for anterior teeth, replacing legacy APM instrument.
Sonendo stockholders elect three Class II directors and ratify Ernst & Young as auditor
Class II directors Bjarne Bergheim, Olav Bergheim, and Karen McGinnis elected with majority votes.
Sonendo Q1 revenue $10.7M (+19% YoY); net loss $15.4M; maintains FY guidance
Procedure instrument revenue $5.7M (+33% YoY); installed base reached 1,005 GentleWave consoles.
Sonendo COO resigns effective June 1; appoints new VP Operations and VP R&D
Andrew Kirkpatrick, COO, resigns effective June 1, 2023 to pursue new opportunities; not due to any disagreement.
Sonendo discloses ~$1.3M exposure to Silicon Valley Bank; remaining funds at U.S. Bank
Sonendo had approximately $1.3 million in operating accounts at Silicon Valley Bank (SVB) as of March 13, 2023.
Sonendo Q4 revenue $12.2M (+24% YoY); FY 2023 guidance $48-51M
Q4 total revenue $12.2M, up 24% YoY; full-year 2022 revenue $41.7M, +25%.
Sonendo amends credit agreement to replace LIBOR with SOFR as benchmark rate
Amendment No. 2 replaces One-Month LIBOR with One-Month Term SOFR as the benchmark rate under the existing credit agreement, effective Jan. 13, 2023.
Sonendo reaffirms FY2022 revenue guidance of $40.5-42.5M; annual growth 22-28%
Full-year 2022 total revenue expected between $40.5M and $42.5M, representing 22% to 28% YoY growth.
Sonendo subsidiary PIPStek files patent infringement lawsuit against BIOLASE over Waterlase laser
PIPStek LLC, wholly owned by Sonendo, filed suit in U.S. District Court for Delaware asserting two patents against BIOLASE's Waterlase laser.
Sonendo Q3 revenue $9.8M (+25% YoY); net loss $15.5M; FY22 revenue guidance $40.5-42.5M
Total revenue $9.8M, up 25% from $7.9M in Q3 2021; procedure instrument revenue $4.8M (+30% YoY).
Sonendo launches GentleWave G4 System, next-gen root canal technology platform
GentleWave G4 System uses broad-spectrum acoustic energy and advanced fluid dynamics for disinfection.
Sonendo closes $63M private placement, expects to regain NYSE compliance
Sold 23,045,536 shares at $0.95 and pre-funded warrants for 43,315,846 shares at $0.949 each.
Sonendo raises $63M via private placement; discloses NYSE non-compliance risk
Sold 23M shares at $0.95 and pre-funded warrants for 43.3M shares; gross proceeds $63M.
Sonendo Q2 2022 revenue $10.5M, up 32% YoY; net loss widens to $15.1M
Total revenue $10.5M (+32% YoY); procedure instrument revenue $4.8M, console $2.7M, software $2.1M.
Sonendo draws $10M Tranche 2 Loan under credit facility; Q2 earnings on Aug 10
Drew $10M delayed-draw term loan (Tranche 2) from Perceptive Credit; maturity Aug 23, 2026.
Sonendo GC and CTO resign, effective July 1, 2022
Jacqueline Collins, VP and General Counsel, resigns effective July 1, 2022; she served as first GC since 2018 and led legal foundation and IPO.
Sonendo shareholders elect Raj Pudipeddi as Class I director; ratify EY as auditor
Raj Pudipeddi elected Class I director with 15,796,113 votes for, 818,850 withheld, 2,738,779 broker non-votes.
Sonendo Q1 revenue $9.0M (+22% YoY); net loss widens to $15.5M
Revenue $9.0M, up 22% from $7.4M in Q1 2021; gross margin improved to 25% from 23%.
Sonendo launches CleanFlow technology for GentleWave; 99.5% pain-free in study
CleanFlow procedure instrument launched for GentleWave System, designed for less invasive root canal therapy.
Sonendo amends credit agreement; extends Tranche 2 & 3 borrowing deadlines
Tranche 2 borrowing deadline extended to Sept 30, 2022, subject to $36M revenue over trailing 12 months.
Sonendo reports Q4 2021 revenue $9.9M (+14% YoY), net loss $13.7M; FY 2022 guidance $40M-$43M
Q4 2021 total revenue $9.9M, up 14% YoY; FY 2021 revenue $33.2M, up 42% from 2020.
Sonendo sets 2022 Annual Meeting for May 25, 2022 virtually
Annual meeting will be held virtually on May 25, 2022 at 1:30 p.m. PST.
Sonendo reports preliminary Q4 revenue $9.7-9.9M; FY2021 revenue up 41-42%
Q4 2021 revenue expected $9.7M-$9.9M; product revenue $7.5M-$7.7M, software ~$2.2M.
Sonendo Q3 revenue $7.9M (+29% YoY); FY2021 guidance $32-32.5M
Total revenue $7.9M, up 29% YoY; net loss $12.7M vs $10.6M in Q3 2020.
Sonendo appoints Raj Pudipeddi to Board of Directors
Board expanded from 8 to 9 directors; Pudipeddi appointed as Class I director, term expires at 2022 annual meeting.
On August 27, 2024, Roy T. Chen provided notice of his resignation as Chief Talent Officer of Sonendo, Inc. (the “Company”), effective September 6, 2024, to pursue another opportunity.
appointed John Bostjancic, age 53, to serve as Chief Financial Officer of the Company, effective June 5, 2024.
On April 5, 2024, Ms. Sadie Stern notified the Board of Directors of Sonendo, Inc. (the “Company”) of her intention not to stand for reelection to the Board of Directors of the Company at the expiration of her current term at the 2024 Annual Meeting of Stockholders.
Chris Guo had been appointed the Company’s Interim Chief Financial Officer (“Interim CFO”) effective as of March 15, 2024.
Chris Guo, age 48, the Company’s Vice President Finance and Corporate Controller, has been appointed by the Board of Directors of the Company to serve as Interim Chief Financial Officer from March 15, 2024 until the appointment of Mr. Watts’ successor.
On March 4, 2024, Michael P. Watts provided notice of his resignation as Chief Financial Officer of Sonendo, Inc. (the “Company”), effective March 15, 2024, to pursue new opportunities.
On February 9, 2024, Ms. Karen McGinnis notified the Board of Directors of Sonendo, Inc. (the “Company”) of her intention to resign as a director of the Company and as a member of the Audit Committee and Compensation Committee (the “Committees”), effective as of March 31, 2024.
On November 17, 2023, Michael Smith, Chief Commercial Officer of the Company, provided notice of his resignation from the Company, effective December 1, 2023, to pursue new opportunities.
On April 4, 2023, Andrew Kirkpatrick, Chief Operating Officer of Sonendo, Inc. (the “Company”), provided notice of his resignation from the Company, effective June 1, 2023, to pursue new opportunities.
On June 15, 2022, Mehrzad Khakpour, PhD submitted his resignation as Chief Technology Officer of the Company.
On June 13, 2022, Jacqueline Collins submitted her resignation as Vice President, General Counsel of Sonendo, Inc. (the "Company").
the Board of Directors (the “ Board ”) of Sonendo, Inc., a Delaware corporation (the “ Company ”) increased the size of the Board from eight (8) directors to nine (9) directors and appointed Raj Pudipeddi as a new Class I member of the Board.
Max materiality 0.80 · Median 0.60 · Most common event earnings