Sonendo Inc. reported strong financial results for the fourth quarter and full year ended December 31, 2022. The company saw a steady increase in procedure volume growth and market adoption as it ends the year with an installed base of 976 units. In the fourth quarter, Sonendo was able to announce the success of their one millionth GentleWave Procedure and the launch of its GentleWave G4 System, resulting in compelling feedback from doctors about the technology's ease of use, patient experience, and practice efficiency. Looking ahead, CEO Bjarne Bergheim, expects the company to continue to drive further market adoption and steady procedure volume growth in 2023. However, investors should be aware of the uncertainties, risks, and assumptions related to the degree of market acceptance, the ability to expand into adjacent markets, competition, and general economic conditions.
“Our strong fourth-quarter performance was driven by an uptick in procedure volume growth and steady market adoption,” said Bjarne Bergheim, the president and chief executive officer of Sonendo.
The company's non-GAAP loss from operations excludes revaluation of contingent consideration, stock-based compensation expense, and depreciation and amortization expense. The webcast and conference call information about Sonendo’s fourth quarter and full year 2022 financial results can be found on investor.sonendo.com.
Sonendo is a commercial-stage medical technology company focused on saving teeth from tooth decay with the GentleWave System, which uses a proprietary mechanism of action to clean and disinfect the microscopic spaces within teeth. The company also offers TDO Software, which integrates practice management, imaging, referral reporting, and CBCT imaging, and offers built-in communication with the GentleWave System. Investors should always take into account the possibilities of uncertainty and believe no forward-looking statement as a prediction of future events.