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Sonendo (SONX)
OTHER OTC:SONX
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Earnings Data
Report Date
Mar 19, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-13.04Last Year’s EPS
-24Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Mar 23, 2022
|% Change Since: 73.46%
|Next Earnings Date:Dec 09, 2021
Earnings Call Sentiment|Positive
The earnings call for Sonendo reflects a positive sentiment overall, with significant improvements in gross margins, operating expenses, and adjusted EBITDA loss, despite challenges in PI sales and total revenue decline. The company is optimistic about its strategic reset and future growth prospects.Company Guidance
During the Sonendo Q2 2024 earnings call, the company provided updated guidance and highlighted several key metrics illustrating their progress. Sonendo raised their full-year 2024 revenue guidance to a range of $31 million to $32 million, up from the previous $29 million to $31 million. They reported a significant improvement in gross margins, with adjusted gross margin increasing to 40.7% in Q2 2024 from 28.7% in the prior year quarter. The company also achieved a 53% reduction in year-over-year adjusted EBITDA loss, reporting a loss of $5.7 million for the quarter. Sonendo's strategic reset focused on commercial execution, gross margin expansion, and cash conservation, with a notable 42% reduction in operating expenses compared to the prior year. Despite a decrease in PI sales by 15% year-over-year, the company emphasized stabilizing utilization rates and anticipates low single-digit growth in PI sales for the second half of the year. Additionally, Sonendo aims to achieve adjusted gross margins in the 40% to 41% range for the latter half of 2024, with long-term aspirations of reaching 60% as they continue to enhance their operational and financial performance.Strong Growth in Console Sales
Sonendo experienced a 7% year-over-year growth in console sales, selling more consoles compared to the second quarter of 2023, and maintaining a healthy unit backlog.
Gross Margin Improvement
GAAP gross margin for Q2 2024 increased to 37.5%, up from 28.4% in Q1 2024 and negative 5.5% in Q2 2023. Adjusted gross margin also rose to 40.7% from 34.8% in Q1 2024 and 28.7% in Q2 2023.
Reduction in Operating Expenses
Operating expenses decreased by $7.1 million to $9.8 million, marking a 42% reduction compared to the prior year, with significant cuts in sales, marketing, R&D, and G&A costs.
Improved Revenue Guidance
Revenue guidance for the full year 2024 was raised to $31 million to $32 million, up from the prior guidance of $29 million to $31 million.
Adjusted EBITDA Loss Reduction
Adjusted EBITDA loss improved by 53% year-over-year, decreasing by $6.4 million to $5.7 million for Q2 2024, with expectations to further reduce the loss in the second half of 2024.
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SONX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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SONX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 12, 2024 | $1.62 | $1.79 | +10.49% |
| Aug 07, 2024 | $15.26 | $16.44 | +7.73% |
| May 08, 2024 | $18.00 | $18.04 | +0.22% |
| Mar 11, 2024 | $34.00 | $19.98 | -41.24% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Sonendo (SONX) report earnings?
Sonendo (SONX) is schdueled to report earning on Mar 19, 2025, TBA Not Confirmed.
What is Sonendo (SONX) earnings time?
Sonendo (SONX) earnings time is at Mar 19, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is SONX EPS forecast?
SONX EPS forecast for the fiscal quarter 2024 (Q4) is -13.04.
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