SONENDO INC - SONX STOCK NEWS

Sonendo, Inc. (NYSE: SONX) announced leadership changes, effective June 1, 2023, as COO Andrew Kirkpatrick steps down to pursue new opportunities. To enhance operational efficiency, John McGaugh joins as Vice President of Operations, bringing over 20 years of experience, including roles at Abbott Vascular and Boston Scientific. The company aims to improve its gross margin profile, a critical initiative highlighted by President and CEO Bjarne Bergheim. Additionally, Kevin Yein has been promoted to Vice President of R&D, recognized for his contributions to product innovations like the GentleWave G4 System. Both leaders will report to Bergheim and are expected to drive growth and operational enhancements within the company.

Sonendo reported strong financial results for Q4 2022, with total revenue of $12.2 million, a 24% increase year-over-year, and total revenue for 2022 reaching $41.7 million, up 25% from 2021. Notable growth in consumable revenue was 31% in Q4. The installed base reached 976 units by year-end. Despite this growth, the company faced a net loss of $10.9 million in Q4 and $57.1 million for the full year. Operating expenses rose to $68.7 million, leading to a 58.2 million loss from operations. For 2023, Sonendo anticipates total revenue to be between $48.0 million and $51.0 million.

Sonendo (NYSE: SONX), a leader in dental technology, announces further investments in the specialty of endodontics, focusing on clinical training and education. Since late-2020, Sonendo has supported over 20 endodontic residency programs, training approximately 75 residents to utilize its GentleWave® System, which offers a less painful alternative to traditional root canal treatments. The company is also actively involved in research, with 18 projects ongoing, and sponsors the American Association of Endodontists. In 2022, Sonendo organized over 130 professional education events across North America to enhance clinician knowledge.

Sonendo, Inc. (NYSE: SONX) will release its financial results for Q4 and full year 2022 on March 8, 2023, following market close. A conference call will be held at 1:30 p.m. Pacific Time to discuss these results. Investors can participate by calling (844) 200-6205 or (929) 526-1599, using access code 340170. A live audio webcast will also be available on the company's investor website, with an archived recording accessible for at least 90 days. Sonendo is known for its GentleWave® System, which treats tooth decay using innovative technology to enhance clinical outcomes and improve dental practice workflows.

Sonendo, a dental technology company, has launched a new brand campaign and website, reaffirming its commitment to endodontics and enhancing patient care. The campaign showcases clinicians utilizing the GentleWave System, emphasizing their role in advancing root canal procedures. With over one million patients treated, the campaign aims to change misconceptions about root canal therapy. The company also offers educational programs and marketing support for clinicians. CEO Bjarne Bergheim highlighted the importance of simplifying complex procedures to improve patient experiences.

Sonendo, Inc. (NYSE: SONX) announced that its subsidiary, PIPStek LLC, has filed a patent infringement lawsuit against BIOLASE, Inc. in the U.S. District Court for Delaware. The suit asserts that BIOLASE's Waterlase laser infringes on two patents owned by PIPStek. Sonendo acquired PIPStek in 2017, securing its intellectual property, which includes dental laser technologies. CEO Bjarne Bergheim emphasized their commitment to protect intellectual property and expressed confidence in a favorable court ruling.

Sonendo, a dental technology leader, reported Q3 2022 financials with total revenue of $9.8 million, up 25% from Q3 2021. Consumable revenue reached $4.8 million, marking a 30% increase year-over-year. The GentleWave install base grew to approximately 935 units. A private financing round yielded $63 million. However, the gross margin declined to 24%, and the company reported a loss from operations of $14.6 million. Full-year 2022 revenue guidance is $40.5 million to $42.5 million, reflecting 22%-28% growth.