Sonendo, Inc. Announces Preliminary Fourth Quarter and Fiscal 2021 Revenue Results | national
LAGUNA HILLS, Calif .– (BUSINESS WIRE) – January 10, 2022–
Sonendo, Inc. (“Sonendo”) (NYSE: SONX), a leading dental technology company and developer of the GentleWave® system, today announced certain preliminary unaudited fourth quarter sales results and for the fiscal year ended December 31, 2021.
The company expects to generate revenues of between $ 9.7 million and $ 9.9 million for the fourth quarter of 2021:
- Product revenue is expected to be between $ 7.5 million and $ 7.7 million for the fourth quarter of 2021, which includes:
- GentleWave Console Revenue Expected to be Between $ 3.0 Million and $ 3.1 Million for Q4 2021; and
- Procedural instruments revenue expected to be approximately $ 3.8 million for the fourth quarter of 2021
- Software revenue expected to be approximately $ 2.2 million for the fourth quarter of 2021
The company expects to report total revenue of between $ 33.0 and $ 33.2 million for full year 2021, reflecting growth of 41% to 42% from 23.4 million. dollars in 2020.
“We are very proud of our quarterly results, particularly the number of GentleWave consoles placed by our sales team during what is generally our strongest quarter. We are delighted to welcome more suppliers to the GentleWave network, ”said Bjarne Bergheim, CEO of Sonendo. “We believe that our progress in expanding our field sales team since the IPO has put us in an excellent position to execute our growth strategy in 2022 and make the GentleWave procedure the standard of care for the root canal treatment. “
Bergheim continued, “I also want to express my gratitude to our customers in the United States and Canada who continue to treat patients in need during the COVID-19 pandemic. We are proud to help protect patients and staff by providing a sterile, single-use procedural instrument, allowing physicians to clean and disinfect a root canal while producing virtually no aerosol.
Sonendo is a commercial-stage medical technology company focused on protecting teeth against tooth decay, the world’s most common chronic disease. Sonendo has developed the GentleWave® System, an innovative technological platform designed to treat tooth decay by cleaning and disinfecting microscopic spaces inside teeth without the need to remove tooth structure. The system uses a proprietary mechanism of action, which combines procedural fluid optimization, broad-spectrum acoustic energy, and advanced fluid dynamics, to debride and disinfect deep regions of the complex root canal system during a less invasive procedure that preserves tooth structure. The clinical advantages of the GentleWave System over conventional root canal treatment methods include improved clinical outcomes, such as superior cleaning independent of root canal complexity and tooth anatomy, high healing rates, and rapid and minimal or no postoperative pain. . In addition, the GentleWave system can improve the workflow and economy of dental practices. Sonendo is also the parent company of TDO® Software, the developer of widely used endodontic practice management software solutions designed to simplify practice workflow. The TDO software integrates practice management, imaging, referral reports and CBCT imaging, and provides integrated communication with the GentleWave system.
Preliminary financial information
The anticipated results discussed in this press release are based on management’s unaudited preliminary analysis of financial results for the quarter and year ended December 31, 2021. As of the date of this press release, the company does not has not completed its quarter-end and year-end procedures for these periods, and the company’s registered independent accounting firm has not reviewed or audited the preliminary financial data discussed in this press release. During the quarterly and annual closing procedures and the audit process of the company, the company may identify items that would require it to make adjustments, which may be material compared to the information presented above. Therefore, the above estimates constitute forward-looking information and are subject to risks and uncertainties, including possible adjustments to preliminary operating results.
This press release contains “forward-looking statements” based on Sonendo’s current expectations, forecasts and beliefs, including statements relating to the expected earnings results of Sonendo for the fourth quarter and the fiscal year ended December 31, 2021. These forward-looking statements are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Actual results and results could differ materially due to a number of factors, including the completion by the Company of its quarter-end and year-end closing procedures and its audit process and other risks and uncertainties described in more detail in the section entitled “Risk Factors” and “” Management’s Discussion and Analysis of Financial Condition and Results of Operation “and elsewhere in its public filings with the Securities and Exchange Commission (SEC) United States, including the prospectus filed with the SEC under Rule 424 (b) (4) on November 1. 2021, the quarterly report on Form 10-Q for the period ended September 30, 2021 filed with the SEC on December 9, 2021, as well as any reports we may file with the SEC in the future. The forward-looking statements contained in this announcement are based on information available to Sonendo on the date hereof. Sonendo does not undertake to update this information, except as required by applicable law. These forward-looking statements should not be taken as representing the views of Sonendo as of a date subsequent to the date of this press release and should not be taken as predictions of future events. In light of the foregoing, investors are urged not to rely on any forward-looking statements in drawing any conclusions or making an investment decision regarding the securities of Sonendo.
See the source version on businesswire.com: https://www.businesswire.com/news/home/2020110005922/en/
CONTACT: Investor contact:
Matt Bacso, CFA
KEYWORD: UNITED STATES NORTH AMERICA CANADA CALIFORNIA
INDUSTRY KEYWORD: DENTAL HEALTH MEDICAL SUPPLIES MEDICAL DEVICES
SOURCE: Sonendo, Inc.
Copyright Business Wire 2022.
PUB: 01/10/2022 16:03 / DISC: 01/10/2022 16:03
Copyright Business Wire 2022.