Sonder(US:SOND) Globenewswireยท2025-08-25 21:55Core Viewpoint - Sonder Holdings Inc. reported its financial results for Q1 2025, highlighting a strategic licensing agreement with Marriott and ongoing compliance issues with Nasdaq [1][4][5]. Financial Highlights - Revenue for Q1 2025 was $118.9 million, a decrease of 11% year-over-year [9]. - Net loss for the quarter was $56.5 million, representing a 12% increase compared to the same period in 2024 [9]. - Adjusted EBITDA was $(56.7) million, a slight decrease of 1% year-over-year [9]. - RevPAR (Revenue Per Available Room) increased by 13% to $139 [9]. - Occupancy rate improved to 83%, up by seven percentage points year-over-year [9]. - Bookable nights decreased by 21% to 858,000 due to the Portfolio Optimization Program [9]. Compliance and Regulatory Issues - Sonder received a deficiency notification from Nasdaq for failing to timely file its Q2 2025 Form 10-Q [5][6]. - The company had previously received a notice for non-compliance regarding its 2024 Form 10-K filing [6]. - A compliance plan was submitted to Nasdaq, allowing up to 180 days to regain compliance [7]. Strategic Developments - Sonder completed the integration with Marriott in Q2 2025, with all properties now bookable through Marriott's platforms [4]. - The partnership with Marriott enhances Sonder's visibility and access to a broader customer base [4]. Cash Flow and Liquidity - Cash used in operating activities improved by 89% year-over-year to $4.4 million [9]. - Total cash, cash equivalents, and restricted cash amounted to $66.5 million as of March 31, 2025 [9]. - Adjusted Free Cash Flow was $(6.9) million, a 76% increase year-over-year [9].