What is Sonendo Inc's earnings per share (EPS)?

Sonendo Inc (SONX) reported diluted earnings per share of $-59.03 for fiscal year 2024. This represents a 54.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Sonendo Inc Financials

SONX

Source SEC Filings (10-K/10-Q) Data as of Dec 31, 2024 Currency USD FYE December

This page shows Sonendo Inc (SONX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI SONX FY2024 2026-04-22

A sharp cost reset improved unit economics, but operations still consume cash faster than the business can replenish it internally.

FY2024’s smaller cash decline was not created by the business turning cash-positive: operating cash flow was still -$24.7M, while investing cash flow was a positive $45.8M. Because cash fell only from $14.0M to $10.2M as total assets shrank sharply, liquidity was preserved mainly by balance-sheet contraction rather than by the core operation funding itself.

FY2024 looks like a smaller but cleaner revenue base: gross margin reached 35.7% even as revenue fell to $33.2M. With SG&A cut from $54.0M to $17.4M, the better operating result points to cost discipline or revenue-mix improvement, not scale alone doing the work.

The equity cushion is thin: assets were $31.3M against liabilities of $26.1M. Cash of $10.2M covered less than half of FY2024 operating cash burn of $24.7M, leaving much less room for routine setbacks.

Financial Health Signals

Financial health score pending refresh

We are recalculating Sonendo Inc's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Altman Z-Score Distress

-22.16

Sonendo Inc scores -22.16, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($3.9M) relative to total liabilities ($26.1M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Neutral

4/9

Sonendo Inc passes 4 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Low Quality

0.88x

For every $1 of reported earnings, Sonendo Inc generates $0.88 in operating cash flow (-$24.7M OCF vs -$28.0M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-5.4x

Sonendo Inc earns $-5.4 in operating income for every $1 of interest expense (-$29.4M vs $5.5M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$33.2M

YoY-24.3%

Sonendo Inc generated $33.2M in revenue in fiscal year 2024. This represents a decrease of 24.3% from the prior year.

EBITDA

-$29.0M

YoY+49.6%

Sonendo Inc's EBITDA was -$29.0M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 49.6% from the prior year.

Net Income

-$28.0M

YoY+54.0%

Sonendo Inc reported -$28.0M in net income in fiscal year 2024. This represents an increase of 54.0% from the prior year.

EPS (Diluted)

$-59.03

YoY+54.5%

Sonendo Inc earned $-59.03 per diluted share (EPS) in fiscal year 2024. This represents an increase of 54.5% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$24.8M

YoY+47.2%

Sonendo Inc generated -$24.8M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 47.2% from the prior year.

Cash & Debt

$10.2M

YoY-27.0%

Sonendo Inc held $10.2M in cash against $3.6M in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

427,330

YoY+34.5%

Sonendo Inc had 427,330 shares outstanding in fiscal year 2024. This represents an increase of 34.5% from the prior year.

Margins & Returns

Gross Margin

35.7%

YoY+25.0pp

Sonendo Inc's gross margin was 35.7% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 25.0 percentage points from the prior year.

Operating Margin

-88.4%

YoY+46.7pp

Sonendo Inc's operating margin was -88.4% in fiscal year 2024, reflecting core business profitability. This is up 46.7 percentage points from the prior year.

Net Margin

-84.4%

YoY+54.4pp

Sonendo Inc's net profit margin was -84.4% in fiscal year 2024, showing the share of revenue converted to profit. This is up 54.4 percentage points from the prior year.

Return on Equity

-540.0%

YoY-325.7pp

Sonendo Inc's ROE was -540.0% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 325.7 percentage points from the prior year.

Capital Allocation

R&D Spending

$6.8M

YoY-35.3%

Sonendo Inc invested $6.8M in research and development in fiscal year 2024. This represents a decrease of 35.3% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$161K

YoY-82.7%

Sonendo Inc invested $161K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 82.7% from the prior year.

SONX Income Statement

Metric	FY24	FY23	FY22	FY21	FY20
Revenue	$33.2M-24.3%	$43.9M+5.3%	$41.7M+25.5%	$33.2M+42.2%	$23.4M
Cost of Revenue	$19.9M-37.1%	$31.6M+1.2%	$31.2M+25.4%	$24.9M+27.7%	$19.5M
Gross Profit	$11.8M+153.6%	$4.7M-55.4%	$10.5M+25.7%	$8.3M+114.6%	$3.9M
R&D Expenses	$6.8M-35.3%	$10.4M-37.8%	$16.8M-9.7%	$18.6M-9.3%	$20.5M
SG&A Expenses	$17.4M-67.9%	$54.0M+4.1%	$51.9M+53.1%	$33.9M+27.0%	$26.7M
Operating Income	-$29.4M+50.4%	-$59.3M-1.8%	-$58.2M-31.1%	-$44.4M-3.8%	-$42.8M
Interest Expense	$5.5M-15.3%	$6.5M	N/A	N/A	N/A
Income Tax	$2K0.0%	$2K0.0%	$2K0.0%	$2K0.0%	$2K
Net Income	-$28.0M+54.0%	-$60.9M-6.8%	-$57.0M-17.6%	-$48.5M-3.9%	-$46.7M
EPS (Diluted)	$-59.03+54.5%	$-129.63	$-1.27+85.1%	$-8.52	N/A

Metric	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23
Revenue	$9.8M+22.0%	$8.0M-3.3%	$8.3M+18.0%	$7.0M-39.7%	$11.7M+12.4%	$10.4M-5.8%	$11.0M+3.0%	$10.7M
Cost of Revenue	$5.0M+6.6%	$4.7M-9.1%	$5.2M+6.1%	$4.9M-40.9%	$8.3M+25.3%	$6.6M-33.4%	$9.9M+48.4%	$6.7M
Gross Profit	$3.4M+3.2%	$3.3M+6.2%	$3.1M+55.7%	$2.0M-12.7%	$2.3M+159.3%	$884K-19.5%	$1.1M-44.5%	$2.0M
R&D Expenses	$1.4M-11.0%	$1.6M+1.3%	$1.6M-28.4%	$2.2M+11.4%	$2.0M-29.5%	$2.8M+0.8%	$2.8M-5.6%	$2.9M
SG&A Expenses	-$1.7M-135.8%	$4.9M+17.0%	$4.2M-58.6%	$10.1M-14.1%	$11.7M-12.8%	$13.4M-8.9%	$14.8M+4.5%	$14.1M
Operating Income	-$5.6M+17.0%	-$6.8M-1.6%	-$6.7M+34.8%	-$10.2M+0.3%	-$10.3M+37.9%	-$16.6M+4.6%	-$17.4M-15.2%	-$15.1M
Interest Expense	N/A	$1.0M	N/A	N/A	N/A	$1.6M	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$6.4M+15.5%	-$7.5M-2.3%	-$7.4M-8.9%	-$6.8M+37.8%	-$10.9M+35.9%	-$17.0M+4.0%	-$17.7M-15.1%	-$15.4M
EPS (Diluted)	N/A	$-15.77	$-0.08-14.3%	$-0.07	N/A	$-36.02-18857.9%	$-0.19-18.8%	$-0.16

SONX Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20
Total Assets	$31.3M-60.0%	$78.2M-43.1%	$137.3M+18.9%	$115.5M+51.7%	$76.1M
Current Assets	$27.8M-57.4%	$65.3M-46.1%	$121.1M+22.5%	$98.9M+67.9%	$58.9M
Cash & Equivalents	$10.2M-27.0%	$14.0M-20.7%	$17.7M-79.1%	$84.6M+63.6%	$51.7M
Inventory	$10.2M-7.8%	$11.1M-28.4%	$15.5M+89.7%	$8.2M+87.9%	$4.3M
Accounts Receivable	$3.7M-23.1%	$4.8M-17.4%	$5.8M+130.4%	$2.5M+30.1%	$1.9M
Goodwill	N/A	$8.5M0.0%	$8.5M0.0%	$8.5M0.0%	$8.5M
Total Liabilities	$26.1M-47.6%	$49.7M-10.1%	$55.3M+27.4%	$43.4M-86.8%	$330.0M
Current Liabilities	$19.9M-43.5%	$35.3M+111.3%	$16.7M+14.1%	$14.7M-64.1%	$40.8M
Long-Term Debt	$3.6M-70.8%	$12.5M-66.1%	$36.7M+38.7%	$26.5M	N/A
Total Equity	$5.2M-81.7%	$28.4M-65.3%	$82.0M+13.7%	$72.1M+128.4%	-$253.9M
Retained Earnings	-$458.0M-6.5%	-$430.0M-16.5%	-$369.1M-18.3%	-$312.0M-18.4%	-$263.5M

Metric	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23
Total Assets	$31.3M-18.0%	$38.1M-17.6%	$46.3M-18.4%	$56.8M-27.4%	$78.2M-11.5%	$88.3M-15.2%	$104.1M-16.0%	$123.9M
Current Assets	$27.8M-19.9%	$34.7M-18.3%	$42.5M-19.3%	$52.7M-19.3%	$65.3M-13.5%	$75.5M-13.4%	$87.2M-18.1%	$106.4M
Cash & Equivalents	$10.2M-21.9%	$13.1M-16.6%	$15.7M-15.5%	$18.6M+32.6%	$14.0M+15.9%	$12.1M-3.8%	$12.6M-0.6%	$12.6M
Inventory	$10.2M-11.1%	$11.5M-2.6%	$11.8M-2.6%	$12.1M+9.4%	$11.1M-3.2%	$11.4M-13.1%	$13.2M-17.6%	$16.0M
Accounts Receivable	$3.7M-17.2%	$4.4M-1.8%	$4.5M+8.4%	$4.2M-12.8%	$4.8M-14.5%	$5.6M-11.2%	$6.3M-1.9%	$6.4M
Goodwill	N/A	N/A	N/A	N/A	$8.5M0.0%	$8.5M0.0%	$8.5M0.0%	$8.5M
Total Liabilities	$26.1M-4.0%	$27.2M-4.5%	$28.4M-11.8%	$32.2M-35.2%	$49.7M-1.6%	$50.5M-1.1%	$51.1M-7.7%	$55.3M
Current Liabilities	$19.9M+4.3%	$19.1M+7.8%	$17.7M-6.5%	$19.0M-46.3%	$35.3M+219.6%	$11.1M-2.6%	$11.3M-25.5%	$15.2M
Long-Term Debt	$3.6M-40.2%	$6.1M-28.5%	$8.5M-22.0%	$10.9M-12.5%	$12.5M-66.5%	$37.2M+0.4%	$37.0M+0.4%	$36.9M
Total Equity	$5.2M-52.7%	$11.0M-38.6%	$17.9M-27.2%	$24.5M-13.7%	$28.4M-24.8%	$37.8M-28.8%	$53.0M-22.7%	$68.6M
Retained Earnings	-$458.0M-1.4%	-$451.7M-1.7%	-$444.1M-1.7%	-$436.8M-1.6%	-$430.0M-2.6%	-$419.1M-4.2%	-$402.2M-4.6%	-$384.5M

SONX Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$24.7M+46.5%	-$46.1M+24.6%	-$61.1M-25.6%	-$48.6M-26.1%	-$38.5M
Capital Expenditures	$161K-82.7%	$929K-31.5%	$1.4M+112.5%	$638K-30.3%	$916K
Free Cash Flow	-$24.8M+47.2%	-$47.0M+24.7%	-$62.4M-26.8%	-$49.2M-24.8%	-$39.5M
Investing Cash Flow	$45.8M+8.0%	$42.4M+157.0%	-$74.4M-3672.4%	-$2.0M-115.4%	-$916K
Financing Cash Flow	-$24.9M-623725.0%	$4K-100.0%	$68.5M-17.9%	$83.5M+8594.1%	-$983K
Dividends Paid	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A

Metric	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23
Operating Cash Flow	-$2.9M+31.9%	-$4.3M+35.8%	-$6.7M+37.2%	-$10.7M-12.5%	-$9.5M+7.0%	-$10.2M-9.1%	-$9.4M+44.8%	-$17.0M
Capital Expenditures	$0	$0-100.0%	$15K-89.7%	$146K+69.8%	$86K-60.2%	$216K-48.2%	$417K+98.6%	$210K
Free Cash Flow	-$2.9M+31.9%	-$4.3M+36.0%	-$6.7M+37.9%	-$10.8M-13.0%	-$9.6M+8.1%	-$10.4M-6.6%	-$9.8M+43.1%	-$17.2M
Investing Cash Flow	$2.8M-37.2%	$4.4M-32.6%	$6.5M-79.6%	$32.1M+180.8%	$11.4M+16.1%	$9.8M+7.2%	$9.2M-23.3%	$12.0M
Financing Cash Flow	-$2.7M0.0%	-$2.7M-0.1%	-$2.7M+83.9%	-$16.8M-1681400.0%	$1K+101.0%	-$100K-191.7%	$109K+1916.7%	-$6K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

SONX Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20
Gross Margin	35.7%+25.0pp	10.6%-14.5pp	25.2%+0.1pp	25.1%+8.5pp	16.6%
Operating Margin	-88.4%+46.7pp	-135.1%+4.6pp	-139.7%-6.0pp	-133.8%+49.5pp	-183.3%
Net Margin	-84.4%+54.4pp	-138.9%-1.9pp	-137.0%+9.1pp	-146.1%+53.7pp	-199.8%
Return on Equity	-540.0%-325.7pp	-214.4%-144.8pp	-69.6%-2.3pp	-67.3%	N/A
Return on Assets	-89.7%-11.7pp	-77.9%-36.4pp	-41.6%+0.4pp	-42.0%+19.3pp	-61.3%
Current Ratio	1.39-0.5	1.85-5.4	7.24+0.5	6.75+5.3	1.44
Debt-to-Equity	0.70+0.3	0.440.0	0.45+0.1	0.37+1.7	-1.30
FCF Margin	-74.7%+32.4pp	-107.1%+42.7pp	-149.9%-1.5pp	-148.3%+20.6pp	-169.0%

Metric	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23
Gross Margin	34.8%-6.3pp	41.2%+3.7pp	37.5%+9.1pp	28.4%+8.8pp	19.6%+11.1pp	8.5%-1.4pp	9.9%-8.5pp	18.4%
Operating Margin	-57.5%+27.0pp	-84.5%-4.1pp	-80.4%+65.0pp	-145.4%-57.5pp	-87.9%+71.3pp	-159.2%-2.0pp	-157.2%-16.7pp	-140.5%
Net Margin	-65.0%+28.8pp	-93.8%-5.2pp	-88.6%+7.4pp	-96.0%-2.9pp	-93.0%+70.1pp	-163.2%-3.0pp	-160.2%-16.9pp	-143.3%
Return on Equity	-122.7%-54.0pp	-68.7%-27.5pp	-41.2%-13.7pp	-27.6%+10.7pp	-38.3%+6.7pp	-44.9%-11.6pp	-33.4%-10.9pp	-22.4%
Return on Assets	-20.4%-0.6pp	-19.8%-3.9pp	-15.9%-4.0pp	-11.9%+2.0pp	-13.9%+5.3pp	-19.2%-2.2pp	-17.0%-4.6pp	-12.4%
Current Ratio	1.39-0.4	1.82-0.6	2.40-0.4	2.78+0.9	1.85-5.0	6.83-0.9	7.69+0.7	6.99
Debt-to-Equity	0.70+0.1	0.55+0.1	0.48+0.0	0.440.0	0.44-0.5	0.98+0.3	0.70+0.2	0.54
FCF Margin	-29.9%+23.7pp	-53.6%+27.3pp	-81.0%+72.8pp	-153.8%-71.7pp	-82.0%+18.2pp	-100.3%-11.7pp	-88.6%+71.7pp	-160.3%

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Frequently Asked Questions

What is Sonendo Inc's annual revenue?

Sonendo Inc (SONX) reported $33.2M in total revenue for fiscal year 2024. This represents a -24.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Sonendo Inc's revenue growing?

Sonendo Inc (SONX) revenue declined by 24.3% year-over-year, from $43.9M to $33.2M in fiscal year 2024.

Is Sonendo Inc profitable?

No, Sonendo Inc (SONX) reported a net income of -$28.0M in fiscal year 2024, with a net profit margin of -84.4%.

What is Sonendo Inc's EBITDA?

Sonendo Inc (SONX) had EBITDA of -$29.0M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Sonendo Inc have?

As of fiscal year 2024, Sonendo Inc (SONX) had $10.2M in cash and equivalents against $3.6M in long-term debt.

What is Sonendo Inc's gross margin?

Sonendo Inc (SONX) had a gross margin of 35.7% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Sonendo Inc's operating margin?

Sonendo Inc (SONX) had an operating margin of -88.4% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Sonendo Inc's net profit margin?

Sonendo Inc (SONX) had a net profit margin of -84.4% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Sonendo Inc's return on equity (ROE)?

Sonendo Inc (SONX) has a return on equity of -540.0% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Sonendo Inc's free cash flow?

Sonendo Inc (SONX) generated -$24.8M in free cash flow during fiscal year 2024. This represents a 47.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Sonendo Inc's operating cash flow?

Sonendo Inc (SONX) generated -$24.7M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Sonendo Inc's total assets?

Sonendo Inc (SONX) had $31.3M in total assets as of fiscal year 2024, including both current and long-term assets.

What are Sonendo Inc's capital expenditures?

Sonendo Inc (SONX) invested $161K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How much does Sonendo Inc spend on research and development?

Sonendo Inc (SONX) invested $6.8M in research and development during fiscal year 2024.

How many shares does Sonendo Inc have outstanding?

Sonendo Inc (SONX) had 427,330 shares outstanding as of fiscal year 2024.

What is Sonendo Inc's current ratio?

Sonendo Inc (SONX) had a current ratio of 1.39 as of fiscal year 2024, which is considered adequate.

What is Sonendo Inc's debt-to-equity ratio?

Sonendo Inc (SONX) had a debt-to-equity ratio of 0.70 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Sonendo Inc's return on assets (ROA)?

Sonendo Inc (SONX) had a return on assets of -89.7% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Sonendo Inc's cash runway?

Based on fiscal year 2024 data, Sonendo Inc (SONX) had $10.2M in cash against an annual operating cash burn of $24.7M. This gives an estimated cash runway of approximately 5 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Sonendo Inc's Altman Z-Score?

Sonendo Inc (SONX) has an Altman Z-Score of -22.16, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Sonendo Inc's Piotroski F-Score?

Sonendo Inc (SONX) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Sonendo Inc's earnings high quality?

Sonendo Inc (SONX) has an earnings quality ratio of 0.88x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Sonendo Inc cover its interest payments?

Sonendo Inc (SONX) has an interest coverage ratio of -5.4x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.