Sonendo, Inc. (SONX)
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 device for addressing tooth decay that meticulously cleans and sanitizes the intricate microscopic passages within teeth without the need for removing any natural tooth structure. The company's product line also features SoundSeal, a specialized material used to construct and seal dental crowns, alongside its proprietary Sonendo-branded liquid solution of EDTA, which assists in the debridement and disinfection processes crucial for root canal systems. Furthermore, Sonendo provides "The Digital Office," a comprehensive practice management software solution designed to foster an integrated digital environment for dental professionals. Established in 2006, the organization was initially known as Dentatek Corporation before officially rebranding to Sonendo, Inc. in March 2011. Its corporate headquarters are situated in Laguna Hills, California.
Sector: Dental Equipment & Supplies
Industry: Medical - Devices
Sonendo, Inc.
OTC:SONXHealthcare · Medical - Devices
Mkt Cap$547K
Float373K
O/S427K
Inst Own-
SI<0.1%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$28.55M
Net Income-$14.41M
Total Assets$18.84M
Free Cash Flow-$11.02M
Debt & Equity
Debt 117%
Total Debt$16.16M
Total Equity-$2.32M
Shares Outstanding
Short Interest
Split History1 split · 1 reverse
2-year cumulative
1:200
Nasdaq bars a compliance period at 1:250
- 1:200Reverse splitNov 8, 2024200 shares → 1
Balance Sheet Details
Assets$18.84M
Liabilities$21.15M
Accounts Receivable$1.53M
Accounts Payable$754K
Inventory$8.7M
PP&E (Net)$2.67M
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Revenue | $28.55M | $31.7M | $43.87M | $41.66M | $33.2M | $23.35M | $34.73M |
| YoY Growth | -9.9% | -27.7% | 5.3% | 25.5% | 42.2% | -32.8% | - |
| Cost of Revenue | $16.59M | $19.86M | $33.14M | $31.18M | $24.86M | $19.47M | $25.66M |
| Gross Profit | $11.97M | $11.84M | $10.72M | $10.48M | $8.34M | $3.88M | $9.07M |
| Gross Margin | 41.9% | 37.4% | 24.4% | 25.2% | 25.1% | 16.6% | 26.1% |
| Research and Development | $4.27M | $6.76M | $10.24M | $16.78M | $18.57M | $20.46M | $18.97M |
| Selling, General, and Administrative | $21.24M | $34.45M | $52.11M | $51.91M | $33.91M | $26.7M | $35.56M |
| Other | $0 | $0 | $6.12M | $0 | $0 | $0 | $0 |
| Total Operating Expenses | $25.51M | $41.21M | $68.47M | $68.68M | $52.48M | $47.16M | $54.53M |
| Operating Income (EBIT) | -$13.54M | -$29.37M | -$57.74M | -$58.2M | -$44.15M | -$43.27M | -$45.46M |
| Operating Margin | -47.4% | -92.6% | -131.6% | -139.7% | -133.0% | -185.3% | -130.9% |
| Interest Expense | $2.22M | $5.47M | $3.17M | $3.23M | $4.21M | $3.96M | $2.84M |
| Interest Income | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Income (Expense) | -$872K | -$4.17M | -$4.72M | $1.15M | -$4.35M | -$3.39M | -$3.84M |
| Income Before Tax (EBT) | -$14.41M | -$33.54M | -$62.46M | -$57.05M | -$48.5M | -$46.66M | -$49.3M |
| Income Tax Expense | $2K | $2K | $2K | $2K | $2K | $2K | $2K |
| Net Income | -$14.41M | -$28.03M | -$60.92M | -$57.05M | -$48.5M | -$46.66M | -$49.3M |
| Net Income Margin | -50.5% | -88.4% | -138.9% | -137.0% | -146.1% | -199.8% | -141.9% |
| Supplementary Data | |||||||
| EPS | -3.02 | -0.59 | -0.65 | -1.27 | -2.14 | -2.53 | -41.33 |
| Diluted EPS | -3.02 | -0.59 | -0.65 | -1.27 | -2.14 | -2.53 | -41.33 |
| Weighted Average OS | 4.76M | 47.49M | 93.99M | 44.93M | 22.63M | 18.47M | 1.19M |
| EBITDA | -$12.62M | -$26.61M | -$54.77M | -$51M | -$41.29M | -$39.13M | -$43.46M |
| EBITDA Margin | -44.2% | -83.9% | -124.9% | -122.4% | -124.4% | -167.6% | -125.1% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Assets | |||||||
| Current Assets | |||||||
| Cash and Cash Equivalents | $5.01M | $10.23M | $14.01M | $17.66M | $84.64M | $51.72M | $92.17M |
| Short-Term Investments | $0 | $1.4M | $32.77M | $73.78M | $0 | $0 | $0 |
| Cash and Short-Term Investments | $5.01M | $11.63M | $46.78M | $91.45M | $84.64M | $51.72M | $92.17M |
| Accounts Receivable | $1.53M | $3.68M | $5.08M | $5.8M | $2.52M | $1.93M | $2.64M |
| Inventory | $8.7M | $10.21M | $11.07M | $15.46M | $8.15M | $4.34M | $6.65M |
| Other Current Assets | $821K | $2.29M | $2.33M | $8.4M | $3.55M | $0 | $0 |
| Total Current Assets | $16.06M | $27.8M | $65.27M | $121.11M | $98.86M | $58.9M | $102.51M |
| Long-Term Assets | |||||||
| Property, Plant & Equipment Net | $2.67M | $3.34M | $3.64M | $5.32M | $5.11M | $6.46M | $5.62M |
| Goodwill | $0 | $0 | $8.45M | $8.45M | $8.45M | $8.45M | $8.45M |
| Intangible Assets | $0 | $0 | $661K | $2.29M | $2.96M | $2.21M | $2.74M |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $104K | $122K | $136K | $118K | $118K | $123K | $123K |
| Total Long-Term Assets | $2.78M | $3.46M | $12.89M | $16.18M | $16.64M | $17.25M | $16.94M |
| Other Assets | $1 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $18.84M | $31.27M | $78.16M | $137.28M | $115.5M | $76.14M | $119.45M |
| Liabilities | |||||||
| Current Liabilities | |||||||
| Accounts Payable | $754K | $1.96M | $1.18M | $4.44M | $3.06M | $1.93M | $2.3M |
| Short-Term Debt | $14.39M | $11.88M | $24.9M | $0 | $0 | $28.35M | $27.55M |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $970K | $618K | $817K | $8.13M | $8.16M | $7.37M |
| Other Current Liabilities | $3.12M | $4.96M | $4.56M | $4.96M | -$949K | -$1.74M | -$780K |
| Total Current Liabilities | $19.14M | $19.94M | $35.32M | $16.72M | $14.65M | $40.8M | $39.44M |
| Long-Term Liabilities | |||||||
| Long-Term Debt | $0 | $3.64M | $12.47M | $36.75M | $26.5M | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $302K | $0 | $0 | $5K | $45K |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | -$5K | -$45K |
| Other Long-Term Liabilities | $239K | $217K | $83K | $773K | $488K | $286.66M | $288.26M |
| Total Long-Term Liabilities | $2.01M | $6.13M | $14.42M | $38.61M | $28.78M | $289.23M | $288.93M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $21.15M | $26.07M | $49.74M | $55.33M | $43.44M | $330.03M | $328.37M |
| Stockholders' Equity | |||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $115.5M | $281.34M | $281.34M |
| Common Stock | $5K | $0 | $64K | $50K | $26K | $2K | $2K |
| Retained Earnings | -$472.46M | -$458.05M | -$430.01M | -$369.09M | -$312.04M | -$263.55M | -$216.88M |
| Comprehensive Income & Other | $0 | $1K | $11K | -$61K | -$115.5M | -$281.34M | -$281.34M |
| Other Stockholders' Equity | $470.14M | $463.24M | $458.37M | $451M | $384.08M | $9.65M | $7.96M |
| Total Equity | -$2.32M | $5.19M | $28.42M | $81.95M | $72.06M | -$253.89M | -$208.91M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $18.84M | $31.27M | $78.16M | $137.28M | $115.5M | $76.14M | $119.45M |
| Supplementary Data | |||||||
| Total Debt | $16.16M | $18.93M | $40.35M | $38.99M | $29.33M | $31.77M | $28.88M |
| Net Debt | $11.15M | $8.71M | $26.34M | $21.32M | -$55.31M | -$19.95M | -$63.29M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Operating Activities | |||||||
| Net Income | -$14.41M | -$28.03M | -$60.92M | -$57.05M | -$48.5M | -$46.66M | -$49.3M |
| Depreciation & Amortization | $923K | $1.46M | $2.98M | $2.82M | $3M | $3.57M | $2.99M |
| Deferred Income Tax | $0 | $0 | -$1.22M | $0 | -$121K | $643K | $959K |
| Stock-Based Compensation | $0 | $4.82M | $7.28M | $7.48M | $2.37M | $1.64M | $1.13M |
| Changes in Working Capital: | |||||||
| Accounts Receivable | $2.26M | $1.62M | $717K | -$3.28M | -$582K | $699K | $502K |
| Inventory | $1.43M | $75K | $3.77M | -$7.41M | -$3.81M | $1.71M | -$2.74M |
| Accounts Payable | -$1.21M | $786K | -$3.26M | $1.29M | $1.13M | -$369K | $184K |
| Other Working Capital | -$2.38M | -$2.15M | $1.34M | -$4.54M | -$3.13M | -$102K | -$4M |
| Total Working Capital Change | $98K | $326K | $2.56M | -$13.95M | -$6.39M | $1.93M | -$6.05M |
| Other Non-Cash Items | $2.37M | -$3.23M | $3.27M | -$369K | $1.04M | $334K | $1.19M |
| Net Cash from Operating | -$11.02M | -$24.65M | -$46.06M | -$61.07M | -$48.6M | -$38.54M | -$49.07M |
| Investing Activities | |||||||
| Capital Expenditures | $0 | -$161K | -$929K | -$1.36M | -$1.97M | -$916K | -$3.69M |
| Acquisitions | $1M | $14.21M | $0 | $73.07M | $0 | $0 | $0 |
| Purchases of Investments | $0 | -$4.51M | -$60.07M | -$98.72M | $0 | $0 | $0 |
| Sales of Investments | $1.4M | $36.27M | $103.4M | $25.65M | $0 | $0 | $0 |
| Other Investing Activities | $0 | $0 | $0 | -$73.07M | $0 | $0 | $0 |
| Net Cash from Investing | $2.4M | $45.81M | $42.4M | -$74.43M | -$1.97M | -$916K | -$3.69M |
| Financing Activities | |||||||
| Debt Repaid | $1.45M | $24.94M | $31K | -$9.79M | $47K | $40K | -$9.97M |
| Common Stock Issuance | $4.86M | $0 | $127K | $20.52M | $84.39M | $44K | $102.21M |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | -$3K | -$7K | -$92K | $38.22M | -$85.24M | -$987K | $498K |
| Net Cash from Financing | $3.41M | -$24.95M | $4K | $68.53M | $83.5M | -$983K | $111.98M |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | -$5.21M | -$3.78M | -$3.66M | -$66.98M | $32.92M | -$40.44M | $59.21M |
| Supplementary Data | |||||||
| Operating Cash Flow | -$11.02M | -$24.65M | -$46.06M | -$61.07M | -$48.6M | -$38.54M | -$49.07M |
| Capital Expenditure | $0 | -$161K | -$929K | -$1.36M | -$1.97M | -$916K | -$3.69M |
| Free Cash Flow | -$11.02M | -$24.81M | -$46.99M | -$62.43M | -$50.58M | -$39.46M | -$52.77M |
| Cash at Beginning | $10.23M | $14.01M | $17.66M | $84.64M | $51.72M | $92.17M | $32.96M |
| Cash at End | $5.01M | $10.23M | $14.01M | $17.66M | $84.64M | $51.72M | $92.17M |