Sonendo, Inc. Announces Preliminary Revenue Results For Q3 2023; Sees Q3 Revenue $10.4M Vs $10.36M Est.; Sees FY23 Revenue $44M-$46M Vs $44.66M Est

Author: Benzinga Newsdesk | October 10, 2023 08:02am

Sonendo, Inc. ("Sonendo" or the "Company") (NYSE:SONX), a leading dental technology company and developer of the GentleWave® System, today announced certain unaudited preliminary financial results for the third quarter ended September 30, 2023.

Unaudited Preliminary Third Quarter 2023 Financial Results

• Total revenue is expected to be approximately $10.4 million for the third quarter 2023.
• Cash, cash equivalents and short-term investments as of September 30, 2023 is expected to be approximately $55.9 million.

"We were pleased to close out a solid third quarter despite anticipated seasonality and prevailing macroeconomic challenges, indicating that our business fundamentals remain strong," said Bjarne Bergheim, president and chief executive officer of Sonendo. "The sales pipeline is expanding, and we are encouraged by a stable balance sheet while we simultaneously reduce quarterly cash burn. We look forward to providing further details regarding meaningful growth strategies, including new commercial initiatives to catalyze the top line, in our quarterly earnings call."

2023 Financial Guidance

The Company reiterates its full year 2023 guidance of expected revenue between $44.0 million and $46.0 million.

Posted In: SONX