Here are the 10-Q quarterly reports from Sonder Holdings Inc. (SOND) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow SOND and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full SOND filings page.
Sonder Holdings Inc. reported Q2 2025 results. Revenue was $147.1 million, down from $164.6 million a year ago, while loss from operations narrowed to $6.9 million from $31.7 million as cost of revenue and operating expenses declined.
The company recorded a net loss of $44.5 million versus net income of $32.7 million last year, primarily reflecting non‑operating items including a $43.8 million loss on preferred stock issuance and lower lease adjustment gains. Cash and cash equivalents were $27.1 million, with $43.8 million in restricted cash. Deferred revenue was $96.2 million.
Going concern: Management disclosed substantial doubt about the company’s ability to continue as a going concern, citing liquidity pressure, while outlining plans to seek financing, optimize costs and leases, and progress under its Marriott relationship. The Marriott Agreement provided $15.0 million of key money, completed on April 11, 2025, and was amended on August 5, 2025 to defer certain fees for up to 12 months.
Debt was impacted by a troubled debt restructuring that lowered the effective interest rate to 4.7%. The company issued liability‑classified NPA Warrants (fair value $12.6 million at June 30, 2025). Common shares outstanding were 13,308,481 as of October 9, 2025.
Sonder Holdings Inc. (SOND) reports interim results showing operational scale but significant liquidity and legal pressures. The company operated ~9,400 units across 180+ properties and completed full integration with Marriott distribution, receiving the remaining $7.5 million of Marriott "Key Money" and enabling listings under "Sonder by Marriott Bonvoy."
Management disclosed substantial doubt about the company’s ability to continue as a going concern and described actions including engaging a financial advisor, cost and portfolio optimization, and pursuing financing alternatives. The company completed multiple financings in 2024–2025 (Series A Preferred financings, April 2025 preferred financing of $17.98M, and an August 2025 $24.54M note-and-warrant financing) and entered secured loan arrangements with Marriott and other note amendments.