AG真人官方

Sonder Holdings Inc. Announces First Quarter 2025 Financial Results

SAN FRANCISCO, Aug. 25, 2025 (GLOBE NEWSWIRE) -- Sonder Holdings Inc. (Nasdaq: SOND) (鈥淪onder鈥� or the 鈥淐ompany鈥�), a leading global brand of premium, design-forward apartments and intimate boutique hotels serving the modern traveler, today announced its financial results for the first quarter 2025, ended March 31, 2025, and filed the related Quarterly Report on Form 10-Q (the 鈥淨1 2025 Form 10-Q鈥�), which can be found on the Company鈥檚 website at investors.sonder.com.

First Quarter 2025 Financial Highlights¹

• RevPAR was $139, a 13% increase year-over-year
• Occupancy Rate was 83%, a seven percentage point increase year-over-year
• Bookable Nights were 858,000, a 21% decrease year-over-year, driven by the Company鈥檚 Portfolio Optimization Program, as described in the Q1 2025 Form 10-Q
• Revenue was $118.9 million, a 11% decrease year-over-year
• Net Loss was $56.5 million, a 12% increase year-over-year
• Adjusted EBITDA² was $(56.7) million, a 1% decrease year-over-year
• Adjusted EBITDAR² was $21.1 million, a 20% decrease year-over-year
• Cash Used In Operating Activities was $4.4 million, an 89% improvement year-over-year
• Adjusted Free Cash Flow² was $(6.9) million, a 76% increase year-over-year
• Total Cash, Cash Equivalents and Restricted Cash was $66.5 million, which included $43.2 million of restricted cash as of March听31, 2025
• Live Units were approximately 9,400 as of March听31, 2025
• Total Portfolio was approximately 10,050 as of March听31, 2025
  
  

_{¹ $ figures represent metrics for the three months ended March 31, 2025, except where otherwise noted. % figures represent year-over-year growth for the three months ended March 31, 2025 compared to the three months ended March 31, 2024.
² Adjusted EBITDA, Adjusted EBITDAR, and Adjusted Free Cash Flow are non-GAAP financial measures. See 鈥淣on-GAAP Financial Measures鈥� for additional information on non-GAAP financial measures and a reconciliation to the most comparable GAAP measures.}

Long-Term Strategic Licensing Agreement with Marriott International
Sonder entered into a long-term strategic licensing agreement with Marriott International, Inc. (NASDAQ: MAR) (鈥淢arriott鈥�) in August 2024 and completed the full Marriott integration in the second quarter of 2025. As of June 2025, all Sonder properties are available for booking on Marriott鈥檚 digital channels and platform, including Marriott.com and the Marriott Bonvoy庐 mobile app under the new 鈥淪onder by Marriott Bonvoy鈥� collection. Sonder鈥檚 properties also participate in the Marriott Bonvoy庐 travel platform.

Notice of Delayed Filing
Sonder received a deficiency notification letter from the Listing Qualifications Staff of The Nasdaq Stock Market LLC (鈥淣asdaq鈥�) on August 20, 2025 (the "Notice"). The Notice indicated that the Company continues to not be in compliance with Nasdaq Listing Rule 5250(c)(1) (the 鈥淟isting Rule鈥�) as a result of its failure to timely file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2025 (the 鈥淨2 2025 Form 10-Q鈥�), as described more fully in the Company's Form 12b-25 Notification of Late Filing (the 鈥淔orm 12b-25鈥�) filed with the Securities and Exchange Commission (the "SEC") on August 14, 2025. The Listing Rule requires Nasdaq-listed companies to timely file all required periodic reports with the SEC.

The Company previously received a notice on April 24, 2025 from Nasdaq notifying the Company that it no longer complied with the Listing Rule due to the Company鈥檚 delinquency in filing its Annual Report on Form 10-K for the annual period ended December 31, 2024 (the 鈥�2024 Form 10-K鈥�). The Company filed the 2024 Form 10-K on July 23, 2025.

In accordance with Nasdaq鈥檚 listing rules, the Company submitted a plan of compliance (the 鈥淧lan鈥�) to Nasdaq on June 23, 2025 demonstrating the Company鈥檚 ability to regain compliance with the Listing Rule and Nasdaq has the discretion to grant the Company up to 180 calendar days from the due date of the 2024 Form 10-K, or October 13, 2025, to regain compliance. The Company is required to submit an update to the Plan to Nasdaq no later than September 4, 2025.

As previously disclosed, the filing of the Q2 2025 Form 10-Q was delayed due to the matters described in the Form 12b-25, including to allow the Company sufficient time to complete its customary accounting and internal control processes and procedures. While the Company can provide no assurances as to timing, the Company will continue to work diligently to complete and file the Q2 2025 Form 10-Q as soon as practicable.

About Sonder

Sonder (NASDAQ: SOND) is a leading global brand of premium, design-forward apartments and intimate boutique hotels serving the modern traveler. Launched in 2014, Sonder offers inspiring, thoughtfully designed accommodations and innovative, tech-enabled service combined into one seamless experience. Sonder properties are found in prime locations in 40 cities, spanning nine countries, and three continents.

To learn more, visit 听or follow Sonder on ,听 or .

Download the Sonder app on听 or .

Media:

Investor:

SONDER HOLDINGS INC. AND SUBSIDIARIES
NON-GAAP FINANCIAL INFORMATION⁽¹⁾

Reconciliation of Non-GAAP Financial Measure: Reconciliation of Cash Used in Operating Activities to Adjusted Free Cash Flow (鈥淎djusted FCF鈥�)

Reconciliation of Non-GAAP Financial Measure: Reconciliation of Net Loss to Adjusted EBITDA

Reconciliation of Non-GAAP Financial Measure: Reconciliation of Adjusted EBITDA to Adjusted EBITDAR

⁽¹⁾ See Non-GAAP Financial Measures section for definitions of the Company鈥檚 Non-GAAP financial measures.

Definitions

RevPAR
Revenue Per Available Room (鈥淩evPAR鈥�) represents the average revenue earned per available night and can be calculated either by dividing revenue by Bookable Nights, or by multiplying Average Daily Rate by Occupancy Rate. Average Daily Rate represents the average revenue earned per night occupied and is calculated as Revenue divided by Occupied Nights. Occupancy Rate is calculated as Occupied Nights divided by Bookable Nights. Bookable Nights represent the total number of nights available for stays across all Live Units. This excludes nights lost to full building closures of greater than 30 nights. Occupied Nights represent the total number of nights occupied across all Live Units.

Live Units & Total Portfolio
Total Portfolio consists of Live Units and Contracted Units. Live Units are defined as units which are available for guests to book. Contracted Units are units for which Sonder has signed real estate contracts, but are not yet available for guests to book.

Non-GAAP Financial Measures

Adjusted EBITDA
Adjusted EBITDA is defined as net income (loss) as adjusted to eliminate the impact of net interest expense, provision (benefit) for income taxes, depreciation and amortization expense, and certain other items as indicated. The exclusion of these items and other similar items in our non-GAAP presentation should not be interpreted as implying that these items are non-recurring, infrequent or unusual. The Company believes Adjusted EBITDA is meaningful to investors as it is the primary operating performance measure that the Company focuses on internally to evaluate its core operating performance. Adjusted EBITDA provides a consistent basis for comparison across reporting periods by excluding interest, taxes, depreciation and amortization, and certain non-recurring or non-operational items, such as lease adjustment gains, net, restructuring and other related charges, and professional fees related to discrete projects such as fees associated with the integration in connection with the strategic licensing agreement with Marriott and restatement activities. It serves as a key measure for the Company to align its financial performance with its internal financial planning and analysis.

Adjusted EBITDAR
Adjusted EBITDAR is defined as Adjusted EBITDA adjusted for operating lease related rent charges. The Company believes Adjusted EBITDAR is meaningful to investors as it is an operating performance measure that further enables the Company to assess its operating performance independent of operating leases, offering insights into its cash flow and performance.

Adjusted Free Cash Flow
Adjusted Free Cash Flow (鈥淎djusted FCF鈥�) is defined as cash used in operating activities plus cash provided by (used in) investing activities, excluding the impact of lease terminations, restructuring, non-recurring professional fee charges and integration costs related to non-operational activities. The most directly comparable GAAP financial measures are cash used in operating activities when combined with cash provided by (used in) investing activities. The Company鈥檚 near-term focus is to reach sustainable positive Adjusted FCF as described in its Cash Flow Positive Plan in the Annual Report on Form 10-K. The Company believes Adjusted FCF is meaningful to investors as it is the primary liquidity measure that the Company focuses on internally to evaluate its progress towards the objectives outlined in its Cash Flow Positive Plan. The Company believes that achieving its goals around this measure will put it on a path to financial sustainability and will help fund its future growth. In addition, Adjusted FCF may not provide a complete understanding of the Company鈥檚 cash flow as a whole. As such, this measure should be reviewed in conjunction with the Company鈥檚 GAAP cash flow.

Presentation of these measures are not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based upon current expectations or beliefs, as well as assumptions about future events. Forward-looking statements include all statements that are not historical facts and can generally be identified by terms such as 鈥渃ould,鈥� "estimate," 鈥渆xpect,鈥� 鈥渋ntend,鈥� 鈥渕ay,鈥� 鈥減lan,鈥� "potentially," or 鈥渨ill鈥� or similar expressions and the negatives of those terms. These statements include, but are not limited to, statements relating to the Company鈥檚 financial performance, key performance metrics and other cost optimization measures, operational and strategic initiatives, the Company鈥檚 long-term strategic licensing agreement with Marriott, information concerning possible or assumed future financial or operating results and measures, the timing of the Company鈥檚 submission of an update to the Plan, the duration of any extension that may be granted by Nasdaq, the ability to meet Nasdaq鈥檚 requirements, and the possibility of additional delays in the filing of periodic reports. These forward-looking statements are not guarantees of future performance, conditions or results. Actual results could differ materially from those expressed in or implied by the forward-looking statements due to a number of risks and uncertainties, including the risks and uncertainties described in the Company鈥檚 reports filed with the Securities and Exchange Commission, and under the heading 鈥淩isk Factors鈥� in its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which are available at www.sec.gov. The forward-looking statements contained herein are only as of the date of this press release. Except as required by law, the Company does not undertake any obligation to update or revise its forward-looking statements to reflect events or circumstances after the date of this press release.