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Sonendo, Inc. (SONX) is a pioneering company in the dental industry, dedicated to improving oral health through advanced technology. As a privately held, venture-backed firm, Sonendo has developed the GentleWave® System, a groundbreaking innovation in root canal therapy. This system employs multisonic ultracleaning™ technology which uses a broad spectrum of acoustic energy to clean root canals more effectively than traditional methods.
The GentleWave® System is designed to reach deep into the lateral canals and microscopic tubules of the root canal system, ensuring the removal of tissue, debris, biofilm, and bacteria. This technology provides a less invasive and more efficient alternative to standard instrumentation, aiming to save teeth and improve patient outcomes.
Sonendo's commitment to innovation is backed by extensive research and development. The company receives support from prominent investors such as CVF, LLC, Dinova Capital, Fjord Ventures, Meritech Capital Partners, NeoMed Management, and Orbimed Advisors LLC.
In addition to their flagship product, Sonendo is continuously exploring new technologies and methodologies to enhance dental care. Their work not only benefits dental practitioners by enhancing the cleaning process but also significantly impacts patients' lives by offering more effective and gentle treatment options.
Sonendo (OTCQX: SONX) reported Q3 2024 financial results with total revenue of $8.0 million, a 2% decrease from Q3 2023. The company showed significant improvements in margins, with GAAP gross margin rising to 41.2% and adjusted gross margin reaching 42.6%. Operating loss reduced to $7.5 million, while free cash flow burn improved by 59% year-over-year to $4.3 million. GentleWave console revenue decreased 10% to $1.9 million, maintaining an active user base of over 800 customers. The company ended the quarter with $17.3 million in cash and cash equivalents.
Sonendo (OTCQX: SONX), a dental technology company known for the GentleWave® System, has announced the postponement of its third quarter 2024 earnings conference call, which was originally scheduled for November 12th, 2024. While the company will proceed with filing its audited financial results on the planned date, management has delayed the accompanying conference call indefinitely. Commentary on post-quarter events will be provided at a later date.
Sonendo (OTCQX: SONX), a dental technology company and developer of the GentleWave® System, has scheduled its third quarter 2024 financial results announcement for November 12, 2024, after market close. The company will host a conference call at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time. Investors can join via phone using specific dial-in numbers or access the live webcast through the company's investor relations website.
Sonendo (OTCQX:SONX) has launched ProControl™, a new software update for their GentleWave® G4 System designed to enhance endodontic care. The update enables endodontists to adjust procedure fluid concentration levels when using the CleanFlow™ procedure instrument, allowing for personalized treatment and improved clinical outcomes. ProControl offers optimized cleaning of complex anatomy and increased procedure efficiency, representing a significant advancement in dental technology. The system's unique ability to automatically and precisely adjust fluid concentrations during treatment sets it apart from other endodontic systems.
Sonendo, Inc. (OTCQX: SONX), a dental technology company, has entered into an Asset Purchase Agreement to acquire substantially all assets of Biolase, Inc. and its subsidiaries for $14 million, plus assumption of certain liabilities and settlement of ongoing patent litigation. Biolase filed for Chapter 11 bankruptcy on October 1, 2024. Sonendo will be designated as the "stalking horse" bidder in a Bankruptcy Court-supervised process, subject to higher offers and court approval.
Sonendo's CEO, Bjarne Bergheim, expressed commitment to ensuring a smooth transition for Biolase customers, patients, suppliers, and vendors. The company anticipates cross-selling opportunities and cost reduction synergies as a combined entity. In January 2023, Sonendo's subsidiary, PIPStek , filed a patent infringement lawsuit against Biolase, claiming damages of not less than $59,000,000.
Sonendo, Inc. (OTCQX: SONX) reported its Q2 2024 financial results, showing promising signs of recovery. The company generated $8.3 million in total revenue, a slight 5% decrease from Q2 2023. However, GentleWave console revenue increased by 9% to $2.4 million. Notably, GAAP gross margin improved significantly to 37.5% from a negative 5.5% in Q2 2023, while adjusted gross margin reached 40.7%. The company also reduced its GAAP operating loss by 61% to $6.7 million and its adjusted EBITDA loss by 55% to $5.7 million. Based on these improvements, Sonendo has raised its 2024 full-year revenue guidance to $31-$32 million, up from the previous $29-$31 million range.
Sonendo, a dental technology company, will report its second quarter 2024 financial results on August 7, 2024, after market close. The company will host a conference call at 1:30 p.m. PT / 4:30 p.m. ET the same day to discuss the results.
Interested investors can join the call by dialing (833) 470-1428 (domestic) or (404) 975-4839 (international) with the access code 699662. Live audio and an archived recording of the webcast will be available on the company's investor relations website, with the replay accessible for at least 30 days post-event.
Sonendo (OTCQX: SONX), a dental technology company known for its GentleWave® System, has announced key leadership changes. John Bostjancic has been appointed as Chief Financial Officer, Robert Guyatt as Senior Vice President of Marketing, and John McGaugh has been promoted to Senior Vice President of Operations. CEO Bjarne Bergheim stated that these appointments are part of a 'reset strategy' aimed at enhancing commercial execution, margin expansion, and cash conservation. These leadership changes are expected to drive significant growth and operational improvements for Sonendo.
Sonendo, a prominent dental technology company and creator of the GentleWave® System, will participate in the 2024 Stifel Jaws & Paws Conference. This event is scheduled for May 29th, with Sonendo's management presenting at 12:00 p.m. Pacific Time / 3:00 p.m. Eastern Time. Investors and interested parties can access an audio webcast of the presentation through the company's website. This participation underscores Sonendo's commitment to engaging with the investor community and showcasing its innovative dental solutions.
Sonendo, Inc. reported total revenue of $7.0 million for Q1 2024, surpassing guidance. They achieved a healthy console backlog, raised average procedure instrument selling price, and divested TDO software segment. The company announced a strategic reset focusing on commercial strategy, cash conservation, and margin expansion. Despite a GAAP operating loss of $10.2 million, non-GAAP operating loss improved. Sonendo raised their 2024 revenue guidance range to $29-$31 million.
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