Sonendo, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 09, 2023 at 04:06 pm
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Sonendo, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was USD 11.04 million compared to USD 10.55 million a year ago. Net loss was USD 17.69 million compared to USD 15.14 million a year ago. Basic loss per share from continuing operations was USD 0.19 compared to USD 0.57 a year ago.
For the six months, revenue was USD 21.77 million compared to USD 19.58 million a year ago. Net loss was USD 33.06 million compared to USD 30.66 million a year ago. Basic loss per share from continuing operations was USD 0.35 compared to USD 1.16 a year ago.
Sonendo, Inc. is a commercial-stage medical technology company focused on saving teeth from tooth decay. The Company develops and manufactures the GentleWave System, a technology platform designed to treat tooth decay by cleaning and disinfecting the microscopic spaces within teeth without the need to remove tooth structure. The system utilizes a mechanism of action, which combines procedure fluid optimization, broad-spectrum acoustic energy, and advanced fluid dynamics, to debride and disinfect deep regions of the complex root canal system in a less invasive procedure that preserves tooth structure. Its Product segment includes the sales of the GentleWave System console and related accessories and instruments. The Company also offers ancillary products, such as SoundSeal and its Sonendo-branded liquid solution of ethylenediaminetetraacetic acid (EDTA). SoundSeal is a material used during the GentleWave Procedure to build and create a sealing platform on the top of the crown.