Sonendo Inc ( (SONX) ) has released its Q4 earnings. Here is a breakdown of the information Sonendo Inc presented to its investors.
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Sonendo Inc., a dental technology company, specializes in the development and manufacturing of the GentleWave® System, a platform designed to treat tooth decay by cleaning and disinfecting the microscopic spaces within teeth. The company operates in the medical technology sector and offers a unique, less invasive alternative to conventional root canal therapy.
In its latest earnings report, Sonendo Inc. announced its financial results for the fourth quarter and full year of 2024. The company highlighted significant improvements in gross margins and reductions in operating losses and cash flow burn, despite a decline in total revenue compared to the previous year.
For the fourth quarter of 2024, Sonendo generated $8.3 million in total revenue, with a notable expansion in GAAP and adjusted gross margins to over 41%. The company also reported a reduction in GAAP operating loss to $5.6 million and an adjusted EBITDA loss to $4.7 million, marking a significant improvement from the prior year. Additionally, free cash flow burn decreased by 69.4% to $2.9 million, the lowest since the commercialization of the GentleWave® System.
On an annual basis, Sonendo’s total revenue for 2024 was $31.7 million, down from $34.6 million in 2023. However, the company achieved substantial gross margin expansion and reduced its GAAP operating loss by 50.4% to $29.4 million. The adjusted EBITDA loss also improved by 48.2% to $23.0 million, and free cash flow burn was reduced by 47.2% to $24.8 million.
Looking ahead, Sonendo’s management remains optimistic about the company’s future, emphasizing the progress made in restructuring the business and stabilizing revenue. With improved financial performance and operational excellence, Sonendo is positioned for long-term growth and profitability.