$SOND
Sonder Holdings Inc.

2023 Q3 Form 10-Q Financial Statement

#000181939523000113 Filed on August 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $160.9M $157.4M
YoY Change 29.21% 29.74%
Cost Of Revenue $19.01M $93.24M
YoY Change 43.11% 534.87%
Gross Profit $141.9M $64.16M
YoY Change 27.55% -39.83%
Gross Profit Margin 88.18% 40.76%
Selling, General & Admin $48.55M $48.40M
YoY Change 4.65% 10.78%
% of Gross Profit 34.22% 75.44%
Research & Development $5.344M $5.563M
YoY Change -22.95% -31.22%
% of Gross Profit 3.77% 8.67%
Depreciation & Amortization $5.878M $5.978M
YoY Change -4.81% -0.3%
% of Gross Profit 4.14% 9.32%
Operating Expenses $53.89M $53.96M
YoY Change 1.06% 4.22%
Operating Profit -$56.93M -$42.01M
YoY Change -7.08% -37.93%
Interest Expense -$6.423M -$6.155M
YoY Change 56.2% 40.46%
% of Operating Profit
Other Income/Expense, Net -$6.970M -$3.133M
YoY Change -45.61% -113.04%
Pretax Income -$63.90M -$45.15M
YoY Change -13.75% 3.41%
Income Tax $400.0K $200.0K
% Of Pretax Income
Net Earnings -$64.28M -$45.33M
YoY Change -13.72% 3.55%
Net Earnings / Revenue -39.95% -28.8%
Basic Earnings Per Share -$5.86 -$0.21
Diluted Earnings Per Share -$5.86 -$0.21
COMMON SHARES
Basic Shares Outstanding 220.3M shares 219.3M shares
Diluted Shares Outstanding 10.96M shares 218.0M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $166.0M $177.4M
YoY Change -47.67% -50.64%
Cash & Equivalents $166.0M $177.4M
Short-Term Investments
Other Short-Term Assets $10.53M $11.52M
YoY Change 0.93% -39.38%
Inventory
Prepaid Expenses
Receivables $9.105M $14.04M
Other Receivables $0.00 $0.00
Total Short-Term Assets $233.3M $253.9M
YoY Change -31.81% -36.41%
LONG-TERM ASSETS
Property, Plant & Equipment $28.46M $31.62M
YoY Change -19.76% -11.2%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $15.05M $13.67M
YoY Change -1.49% -11.16%
Total Long-Term Assets $1.483B $1.354B
YoY Change 24.58% 16.7%
TOTAL ASSETS
Total Short-Term Assets $233.3M $253.9M
Total Long-Term Assets $1.483B $1.354B
Total Assets $1.716B $1.608B
YoY Change 11.99% 3.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $20.51M $19.88M
YoY Change 122.11% 28.89%
Accrued Expenses $24.69M $18.56M
YoY Change 49.62% -28.03%
Deferred Revenue $67.82M $59.86M
YoY Change 37.2% 58.57%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.000M
YoY Change
Total Short-Term Liabilities $329.3M $297.3M
YoY Change 38.09% 22.05%
LONG-TERM LIABILITIES
Long-Term Debt $196.4M $186.9M
YoY Change 17.81% 15.87%
Other Long-Term Liabilities $668.0K $1.106M
YoY Change -88.57% -45.6%
Total Long-Term Liabilities $197.1M $188.0M
YoY Change 14.21% 15.11%
TOTAL LIABILITIES
Total Short-Term Liabilities $329.3M $297.3M
Total Long-Term Liabilities $197.1M $188.0M
Total Liabilities $1.909B $1.744B
YoY Change 27.83% 19.72%
SHAREHOLDERS EQUITY
Retained Earnings -$1.177B -$1.112B
YoY Change 29.2% 33.02%
Common Stock $1.000K $21.00K
YoY Change -95.24% 5.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$192.7M -$136.6M
YoY Change
Total Liabilities & Shareholders Equity $1.716B $1.608B
YoY Change 11.99% 3.11%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$64.28M -$45.33M
YoY Change -13.72% 3.55%
Depreciation, Depletion And Amortization $5.878M $5.978M
YoY Change -4.81% -0.3%
Cash From Operating Activities -$13.17M -$25.38M
YoY Change -59.45% -37.98%
INVESTING ACTIVITIES
Capital Expenditures $2.188M $1.875M
YoY Change -129.43% -133.45%
Acquisitions
YoY Change
Other Investing Activities -$427.0K -$135.0K
YoY Change 55.84% -88.35%
Cash From Investing Activities -$2.615M -$2.010M
YoY Change -66.07% -70.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.748M 0.000
YoY Change 977.65% -100.0%
NET CHANGE
Cash From Operating Activities -13.17M -25.38M
Cash From Investing Activities -2.615M -2.010M
Cash From Financing Activities 2.748M 0.000
Net Change In Cash -13.04M -27.39M
YoY Change -67.36% -41.86%
FREE CASH FLOW
Cash From Operating Activities -$13.17M -$25.38M
Capital Expenditures $2.188M $1.875M
Free Cash Flow -$15.36M -$27.26M
YoY Change -38.68% -22.83%

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NetIncomeLoss
-45666000 usd
CY2022Q2 us-gaap Translation Adjustment Functional To Reporting Currency Net Of Tax Period Increase Decrease
TranslationAdjustmentFunctionalToReportingCurrencyNetOfTaxPeriodIncreaseDecrease
5085000 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
101092000 usd
us-gaap Net Income Loss
NetIncomeLoss
-131758000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
20438000 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
82999000 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
70228000 usd
us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
4378000 usd
us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
-6458000 usd
sond Capitalization Of Interest On Long Term Debt
CapitalizationOfInterestOnLongTermDebt
13135000 usd
sond Capitalization Of Interest On Long Term Debt
CapitalizationOfInterestOnLongTermDebt
4253000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
4000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
9040000 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
797000 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
-2640000 usd
sond Debt Gain Loss On Share Settle Redemption Feature And Conversion Of Debt
DebtGainLossOnShareSettleRedemptionFeatureAndConversionOfDebt
0 usd
sond Debt Gain Loss On Share Settle Redemption Feature And Conversion Of Debt
DebtGainLossOnShareSettleRedemptionFeatureAndConversionOfDebt
29512000 usd
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-398000 usd
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-24314000 usd
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
1933000 usd
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
96522000 usd
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-1028000 usd
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-1175000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
9274000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
2941000 usd
us-gaap Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
538000 usd
us-gaap Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
4877000 usd
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-1976000 usd
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-3317000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
3637000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-22382000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-1920000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
6895000 usd
us-gaap Increase Decrease In Property And Other Taxes Payable
IncreaseDecreaseInPropertyAndOtherTaxesPayable
1161000 usd
us-gaap Increase Decrease In Property And Other Taxes Payable
IncreaseDecreaseInPropertyAndOtherTaxesPayable
4251000 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
17963000 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
19089000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-66710000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-24264000 usd
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-127000 usd
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
2474000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-60872000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-91615000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
8799000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
16145000 usd
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
689000 usd
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
2236000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-9488000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-18381000 usd
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
0 usd
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
159225000 usd
sond Repayment Of Debt And Payment Of Early Termination Fees
RepaymentOfDebtAndPaymentOfEarlyTerminationFees
0 usd
sond Repayment Of Debt And Payment Of Early Termination Fees
RepaymentOfDebtAndPaymentOfEarlyTerminationFees
27745000 usd
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
0 usd
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
325928000 usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
58555000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
8000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1447000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
8000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
400300000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
679000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
499000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-69673000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
290803000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
289186000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
69941000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
219513000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
360744000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
390000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
480000 usd
us-gaap Interest Paid Net
InterestPaidNet
1347000 usd
us-gaap Interest Paid Net
InterestPaidNet
2044000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
222000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
469000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
187037000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
126868000 usd
us-gaap Notes Reduction
NotesReduction
0 usd
us-gaap Notes Reduction
NotesReduction
159172000 usd
sond Noncash Or Part Noncash Acquisition Conversion Of Warrants Amount
NoncashOrPartNoncashAcquisitionConversionOfWarrantsAmount
0 usd
sond Noncash Or Part Noncash Acquisition Conversion Of Warrants Amount
NoncashOrPartNoncashAcquisitionConversionOfWarrantsAmount
1243000 usd
sond Conversion Of Stock Warrants Amount Converted
ConversionOfStockWarrantsAmountConverted
0 usd
sond Conversion Of Stock Warrants Amount Converted
ConversionOfStockWarrantsAmountConverted
2111000 usd
sond Noncash Or Part Noncash Acquisition Derivative Liabilities Assumed
NoncashOrPartNoncashAcquisitionDerivativeLiabilitiesAssumed
0 usd
sond Noncash Or Part Noncash Acquisition Derivative Liabilities Assumed
NoncashOrPartNoncashAcquisitionDerivativeLiabilitiesAssumed
98117000 usd
sond Recognition Of Spac Warrants Reverse Recapitalization
RecognitionOfSPACWarrantsReverseRecapitalization
0 usd
sond Recognition Of Spac Warrants Reverse Recapitalization
RecognitionOfSPACWarrantsReverseRecapitalization
25985000 usd
sond Noncash Or Part Cash Transaction Issuance Of Delayed Draw Warrants
NoncashOrPartCashTransactionIssuanceOfDelayedDrawWarrants
0 usd
sond Noncash Or Part Cash Transaction Issuance Of Delayed Draw Warrants
NoncashOrPartCashTransactionIssuanceOfDelayedDrawWarrants
5598000 usd
sond Conversion Of Post Combination Exchangeable Shares
ConversionOfPostCombinationExchangeableShares
0 usd
sond Conversion Of Post Combination Exchangeable Shares
ConversionOfPostCombinationExchangeableShares
49733000 usd
us-gaap Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
0 usd
us-gaap Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
518750000 usd
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
177444000 usd
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
359500000 usd
CY2023Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
42069000 usd
CY2022Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
1244000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
219513000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
360744000 usd
CY2023Q2 sond Variable Interest Entity Number Of Entities
VariableInterestEntityNumberOfEntities
1 entity
us-gaap Use Of Estimates
UseOfEstimates
<div><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Use of Estimates</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenue and expense during the reporting periods. Such significant management estimates include the fair value of share-based awards, estimated useful life of long-lived assets, bad-debt allowances, valuation of intellectual property and intangible assets, contingent liabilities, valuation allowance for deferred tax assets, and valuation of non-routine complex transactions, such as recognition of the Earn Out Liability and SPAC Warrants (both as defined below), among others. These estimates are based on information available as of the date of the condensed consolidated financial statements; therefore, actual results could differ from those estimates.</span></div>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Reclassification</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain amounts reported in previous condensed consolidated financial statements have been reclassified to conform to current period presentation. These reclassifications did not affect previously reported amounts of net loss, total assets, total stockholders’ deficit, net cash used in operating activities, net cash used in investing activities, or net cash provided by financing activities.</span></div>
CY2022Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
1900000 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
13300000 usd
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.21
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.21
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.18
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.18
CY2022Q2 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-9419000 usd
CY2022Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
22131000 usd
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-45549000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-45666000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
-40581000 usd
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.21
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.21
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-24314000 usd
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
128889000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-34555000 usd
us-gaap Net Income Loss
NetIncomeLoss
-34703000 usd
us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
0 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-34703000 usd
us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
-27619000 usd
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.18
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.18
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-45666000 usd
CY2022Q2 us-gaap Retained Earnings Unappropriated
RetainedEarningsUnappropriated
-849515000 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
101092000 usd
sond Stock Issued During Period Value Spac Warrants Reverse Recapitalization
StockIssuedDuringPeriodValueSPACWarrantsReverseRecapitalization
25985000 usd
us-gaap Net Income Loss
NetIncomeLoss
-34703000 usd
CY2022Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
936204000 usd
CY2022Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-849515000 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
101092000 usd
us-gaap Net Income Loss
NetIncomeLoss
-34703000 usd
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-24314000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
157403000 usd
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
121322000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
278141000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
201788000 usd
CY2023Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
196394000 usd
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
183245000 usd
CY2023Q2 sond Debt Instrument Delayed Draw Warrants
DebtInstrumentDelayedDrawWarrants
4559000 usd
CY2022Q4 sond Debt Instrument Delayed Draw Warrants
DebtInstrumentDelayedDrawWarrants
4945000 usd
CY2023Q2 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
4951000 usd
CY2022Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
5350000 usd
CY2023Q2 us-gaap Long Term Debt
LongTermDebt
186884000 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
172950000 usd
CY2023Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
42100000 usd
CY2022Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
42600000 usd
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
74579000 usd
CY2022Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
65876000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
149838000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
128823000 usd
CY2023Q2 sond Short Term Lease Cost Including Adjustment
ShortTermLeaseCostIncludingAdjustment
-201000 usd
CY2022Q2 sond Short Term Lease Cost Including Adjustment
ShortTermLeaseCostIncludingAdjustment
477000 usd
sond Short Term Lease Cost Including Adjustment
ShortTermLeaseCostIncludingAdjustment
431000 usd
sond Short Term Lease Cost Including Adjustment
ShortTermLeaseCostIncludingAdjustment
479000 usd
CY2023Q2 us-gaap Variable Lease Cost
VariableLeaseCost
371000 usd
CY2022Q2 us-gaap Variable Lease Cost
VariableLeaseCost
944000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
1872000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
1587000 usd
CY2023Q2 us-gaap Lease Cost
LeaseCost
74749000 usd
CY2022Q2 us-gaap Lease Cost
LeaseCost
67297000 usd
us-gaap Lease Cost
LeaseCost
152141000 usd
us-gaap Lease Cost
LeaseCost
130889000 usd
CY2023Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
74958000 usd
CY2022Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
56838000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
143173000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
106603000 usd
CY2023Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
148510000 usd
CY2022Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
11968000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
187037000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
126868000 usd
CY2023Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
74700000 usd
CY2022Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
67200000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
152100000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
130900000 usd
CY2022Q1 sond Recapitalization Exchange Ratio
RecapitalizationExchangeRatio
1.4686
CY2022Q1 sond Shares Authorized
SharesAuthorized
690000000 shares
CY2022Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
250000000 shares
CY2022Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
141557746 shares
CY2022Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
126055660 shares
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8258000 usd
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5054000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
20438000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
11734000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-45327000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-45666000 usd
us-gaap Net Income Loss
NetIncomeLoss
-131758000 usd
us-gaap Net Income Loss
NetIncomeLoss
-34703000 usd
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
218027496 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
218027496 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
215085516 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
215085516 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
217630938 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
217630938 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
197658542 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
197658542 shares
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.21
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.21
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.21
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.21
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.61
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.61
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.18
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.18
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
89037313 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
83874404 shares
sond Number Of Surety Providers
NumberOfSuretyProviders
5 surety_provider
CY2023Q2 sond Loss Contingency Estimated Accrual Liability Related To Tax Matters
LossContingencyEstimatedAccrualLiabilityRelatedToTaxMatters
7000000 usd
CY2022Q4 sond Loss Contingency Estimated Accrual Liability Related To Tax Matters
LossContingencyEstimatedAccrualLiabilityRelatedToTaxMatters
7900000 usd
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
200000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
300000 usd
CY2023Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0040
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0020
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
117000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
148000 usd
CY2022Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0026
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0043
us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
0 usd
CY2022Q1 sond Extension Of Post Exchangeable Shares Period
ExtensionOfPostExchangeableSharesPeriod
P5Y
sond Payments Of Reverse Recapitalization Transaction Costs
PaymentsOfReverseRecapitalizationTransactionCosts
58555000 usd
sond Proceeds From Reverse Recapitalization Transaction
ProceedsFromReverseRecapitalizationTransaction
267373000 usd
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
159225000 usd
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
24680000 usd
sond Reverse Recapitalization Net
ReverseRecapitalizationNet
401918000 usd
CY2022Q2 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
4000000 usd
us-gaap Restructuring Charges
RestructuringCharges
2100000 usd
CY2023Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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0001819395-23-000113.txt Edgar Link pending
0001819395-23-000113-xbrl.zip Edgar Link pending
exhibit311-sec302certifica.htm Edgar Link pending
exhibit312-sec302certifica.htm Edgar Link pending
exhibit321-sec906certifica.htm Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
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