Sonendo, Inc. (“Sonendo” or the “Company”) (OTC Pink: SONX), a leading dental technology company and developer of the GentleWave? System, today announced partial financial results for the first quarter ended March 31, 2025, and issued short-term and long-term financial guidance.
Recent Highlights
Q1 2025 total revenues were $7.4 million, up 5% from the prior year period;
Driven a significant improvement in Q1 2025 gross margin to 44%, up 1,600 basis points from 28% gross margin in the prior year period;
Reported a 48% improvement in Q1 2025 adjusted EBITDA loss to $3.9 million year-over-year;
Substantially reduced free cash flow burn to $4.5 million, down 58% from the prior year period;
Recently completed a $5 million private placement of common stock from a mix of new and existing investors;
Amended credit facility to defer principal amortization payments until at least September 2025, and potentially until March 31, 2026.
“We are pleased that our lenders and new and existing investors in the private placement have recognized the significant success we have achieved in restructuring our business and growing our top line, while significantly reducing operating expenses and free cash flow consumption, as reflected in our first quarter 2025 financial and operational results,” said Bjarne Bergheim, President and CEO of Sonendo.
We have significantly improved our liquidity position and expect further improvement in gross margins, reduction in operating losses and free cash flow consumption in 2025. We remain steadfast in our commitment to operational excellence and to position Sonendo for strong, long-term and profitable growth.”
As of March 31, 2025, the Company had total cash, cash equivalents and short-term investments of $7.2 million, excluding the estimated net proceeds of $4.7 million received by the Company in the private placement. The Company has $14.2 million of principal outstanding under its credit facilities.