Sonendo, Inc. Reports First Quarter 2025 Financial Results and Issues Financial Guidance

Sonendo, Inc. (“Sonendo” or the “Company”) (OTC Pink: SONX), a leading dental technology company and developer of the GentleWave System, today reported select financial results for the first quarter ended March 31, 2025 and issued short and long-term financial guidance.

Recent Highlights

• Generated $7.4 million of total revenue for the first quarter of 2025, representing 5% growth compared to the prior year period;
• Drove a substantial increase in gross margin to 44% for the first quarter of 2025, up 1600 basis points compared to the 28% gross margin for the prior year period;
• Reported a 48% year-over-year improvement in Adjusted EBITDA loss to $3.9 million for the first quarter of 2025;
• Significantly reduced free cash flow burn to $4.5 million, a 58% reduction compared to the prior year period;
• Recently completed a $5.0 million private placement of its common stock, which included new and existing investors;
• Amended its credit facility to defer principal amortization payments until at least September 2025, and potentially until March 31, 2026.

“We are pleased that our lender and the new and existing investors who participated in the private placement have recognized the meaningful success we have achieved in restructuring the business and increasing revenue while significantly reducing operating expenses and free cash flow burn, as demonstrated in our first quarter 2025 financial and operational results,” said Bjarne Bergheim, President and Chief Executive Officer of Sonendo. “We have significantly improved the liquidity profile of the Company, and we expect to deliver additional gross margin expansion and further reductions in operating losses and free cash flow burn in 2025. We remain steadfastly committed to operational excellence and to position Sonendo for robust, long-term and profitable growth.”

As of March 31, 2025, the Company’s cash, cash equivalents and short-term investments totaled $7.2 million, which does not include the $4.7 million in estimated net proceeds the Company received in the private placement, and there was $14.2 million of principal outstanding under its credit facility.

Financial Guidance

The Company is providing the following short and long-term financial guidance, which reflects management’s latest expectations.

2025

Mid-Term (2027)

Long-Term (2029)