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Sonendo
(OTC:SONX)
Select Model
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Rating:52Neutral
Price Target:
$1.00
▼(-0.99% Downside)
Action:Reiterated
Date:07/30/26
The score is held back primarily by weak financial performance: contracting revenue, ongoing negative cash flow, and a weakened balance sheet with negative equity. This is partially offset by strong technical trend signals (price above major moving averages). Valuation remains constrained by losses (negative P/E) and no dividend yield support.
Positive Factors
Installed-base recurring consumables
Sonendo’s business model pairs capital console sales with required single-use consumables per procedure, creating recurring revenue tied to installed systems. This installed-base model supports durable aftermarket revenue that can scale with procedure adoption and enhance long-term cash conversion.
Negative Factors
Shrinking revenue
Two consecutive years of revenue decline undermine the core scaling mechanism for a capital-plus-consumables model. Persisting top-line contraction limits installed-base growth, constrains recurring consumables sales, and makes recent margin improvements harder to sustain over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Installed-base recurring consumables
Sonendo’s business model pairs capital console sales with required single-use consumables per procedure, creating recurring revenue tied to installed systems. This installed-base model supports durable aftermarket revenue that can scale with procedure adoption and enhance long-term cash conversion.
Read all positive factors
Sonendo (SONX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$431.68K
Dividend YieldN/A
Average Volume (3M)389.00
Price to Earnings (P/E)―
Beta (1Y)-1.13
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees130
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-0.36
Shares Outstanding427,401
10 Day Avg. Volume222
30 Day Avg. Volume389
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)-0.62
Price to Sales (P/S)0.05
P/FCF Ratio-0.13
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-46.56
Revenue Forecast (FY)$42.30M
Sonendo Business Overview & Revenue Model
Company Description
Sonendo, Inc. operates as a commercial-stage medical technology firm, dedicated to innovating, producing, and marketing advanced devices for root canal treatment across the United States and Canada. A flagship offering is GentleWave, an innovative...
How the Company Makes Money
Sonendo makes money primarily by selling (1) capital equipment and (2) recurring procedure-related consumables associated with the GentleWave System. The capital equipment stream comes from the sale of the GentleWave console/system placed in denta...
Sonendo Earnings Call Summary
Earnings Call Date:Aug 07, 2024
(Q2-2024)
| % Change Since: |
Next Earnings Date:Aug 12, 2026
Earnings Call Sentiment Positive
The earnings call for Sonendo reflects a positive sentiment overall, with significant improvements in gross margins, operating expenses, and adjusted EBITDA loss, despite challenges in PI sales and total revenue decline. The company is optimistic about its strategic reset and future growth prospects.Positive Updates
Strong Growth in Console Sales
Sonendo experienced a 7% year-over-year growth in console sales, selling more consoles compared to the second quarter of 2023, and maintaining a healthy unit backlog.
Negative Updates
Decrease in PI Revenue
PI revenue for Q2 2024 totaled $4.7 million, down from $5.6 million in Q2 2023, with the decline primarily volume-related.
Read all updates
Q2-2024 Updates
Positive
Negative
Strong Growth in Console Sales
Sonendo experienced a 7% year-over-year growth in console sales, selling more consoles compared to the second quarter of 2023, and maintaining a healthy unit backlog.
Read all positive updates
Company Guidance
During the Sonendo Q2 2024 earnings call, the company provided updated guidance and highlighted several key metrics illustrating their progress. Sonendo raised their full-year 2024 revenue guidance to a range of $31 million to $32 million, up from the previous $29 million to $31 million. They reported a significant improvement in gross margins, with adjusted gross margin increasing to 40.7% in Q2 2024 from 28.7% in the prior year quarter. The company also achieved a 53% reduction in year-over-year adjusted EBITDA loss, reporting a loss of $5.7 million for the quarter. Sonendo's strategic reset focused on commercial execution, gross margin expansion, and cash conservation, with a notable 42% reduction in operating expenses compared to the prior year. Despite a decrease in PI sales by 15% year-over-year, the company emphasized stabilizing utilization rates and anticipates low single-digit growth in PI sales for the second half of the year. Additionally, Sonendo aims to achieve adjusted gross margins in the 40% to 41% range for the latter half of 2024, with long-term aspirations of reaching 60% as they continue to enhance their operational and financial performance.Sonendo Financial Statement Overview
Summary
Income Statement
32
Negative
Balance Sheet
18
Very Negative
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 31.70M | 28.55M | 31.70M | 43.87M | 41.66M | 33.20M |
| Gross Profit | 11.84M | 11.97M | 11.84M | 10.72M | 10.48M | 8.34M |
| EBITDA | -27.69M | -12.62M | -26.61M | -54.77M | -51.00M | -41.29M |
| Net Income | -28.03M | -14.41M | -28.03M | -60.92M | -57.05M | -48.50M |
Balance Sheet | ||||||
| Total Assets | 31.27M | 18.84M | 31.27M | 78.16M | 137.28M | 115.50M |
| Cash, Cash Equivalents and Short-Term Investments | 11.63M | 5.01M | 11.63M | 46.78M | 91.45M | 84.64M |
| Total Debt | 18.93M | 16.16M | 18.93M | 40.35M | 38.95M | 29.20M |
| Total Liabilities | 26.07M | 21.15M | 26.07M | 49.74M | 55.33M | 43.44M |
| Stockholders Equity | 5.19M | -2.32M | 5.19M | 28.42M | 81.95M | 72.06M |
Cash Flow | ||||||
| Free Cash Flow | -24.81M | -11.02M | -24.81M | -46.99M | -62.43M | -50.58M |
| Operating Cash Flow | -24.65M | -11.02M | -24.65M | -46.06M | -61.07M | -48.60M |
| Investing Cash Flow | 45.81M | 2.40M | 45.81M | 42.40M | -74.43M | -1.97M |
| Financing Cash Flow | -24.95M | 3.41M | -24.95M | 4.00K | 68.53M | 83.50M |
Sonendo Technical Analysis
Positive
1.01
Price Trends
0.68
Positive
0.55
Positive
0.38
Positive
Market Momentum
0.10
Negative
93.66
Negative
100.00
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SONX, the sentiment is Positive. The current price of 1.01 is above the 20-day moving average (MA) of 0.88, above the 50-day MA of 0.68, and above the 200-day MA of 0.38, indicating a bullish trend. The MACD of 0.10 indicates Negative momentum. The RSI at 93.66 is Negative, neither overbought nor oversold. The STOCH value of 100.00 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SONX.
Sonendo Risk Analysis
Sonendo disclosed 85 risk factors in its most recent earnings report. Sonendo reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Sonendo Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
52 Neutral | $431.68K | -0.33 | -199.60% | ― | ― | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $20.32M | -0.37 | -243.14% | ― | -17.67% | 46.19% | |
46 Neutral | $35.44M | -0.13 | -49.65% | ― | -95.74% | -118.94% | |
46 Neutral | $51.56M | -0.66 | 239.44% | ― | 10.38% | 20.70% | |
44 Neutral | $54.86M | -3.36 | 836.32% | ― | 31.90% | -10.81% | |
44 Neutral | $299.02M | -1.44 | -12.66% | ― | 100.82% | 42.21% |
* Healthcare Sector Average
SONX
Sonendo
1.01
0.99
4950.00%
LFWD
Lifeward
7.25
-1.14
-13.57%
ECOR
Electrocore
6.53
-0.40
-5.77%
PAVM
PAVmed
5.04
-8.89
-63.82%
MOVE
Movano
12.16
7.29
149.49%
COCH
Envoy Medical
0.68
-0.83
-54.70%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.