Sonder Holdings Inc. Shares Preliminary Highlights, Q4 Revenue $164M Vs $169.98M Est, RevPAR ~$150; FY23 Revenue $603M Vs $609M Est, RevPAR $151

Author: Benzinga Newsdesk | March 15, 2024 04:15pm

Today, Sonder also announced the following estimated and unaudited fourth quarter and full year 2023 highlights:

• Revenue was approximately $164 million for the fourth quarter and approximately $603 million for the full year 2023
• RevPAR was approximately $150 for the fourth quarter and approximately $151 for the full year 2023
• Occupancy Rate was 82% for the fourth quarter and 82% for the full year 2023
• Bookable Nights were 1,092,000 for the fourth quarter and 3,995,000 for the full year 2023
• Operating Cash Flow1 was approximately $(34) million for the fourth quarter and approximately $(108) million for the full year 2023
• Free Cash Flow (excluding restructuring costs and lease termination costs)2 was approximately $(35) million for the fourth quarter and approximately $(119) million for the full year 2023
• Total Cash, Cash Equivalents and Restricted Cash was approximately $136.5 million, which included approximately $40.7 million of restricted cash as of December 31, 2023
• Live Units were 12,200 as of December 31, 2023
• Total Portfolio was 16,000 as of December 31, 2023

The Company currently expects that its final results of operations and other data will be consistent with the estimates set forth above, but such estimates are preliminary and its actual results of operations and other data could differ materially from these estimates due to the completion of its financial closing procedures, final adjustments, the restatement, and other developments that may arise between now and the time its audited consolidated financial statements are issued.

The Company will issue a further press release when a date and time for its fourth quarter and full year 2023 earnings release and investor conference call has been determined.

1 Operating Cash Flow includes the impact of restructuring and other charges related to reductions in force as well as the impact of charges related to lease terminations. Operating Cash Flow is equivalent to cash used in operating activities.

2 This is a Non-GAAP Financial Measure. Refer to section titled Reconciliation of Non-GAAP Financial Measure for the reconciliation of our Non-GAAP Financial Measures to the most directly comparable GAAP Financial Measure.

Posted In: SOND