Sonder Holdings Q1 Revenue Down 11%, Net Loss Up 12%

Sonder Holdings reported Q1 revenue of $118.9 million, an 11% decrease YoY, and a net loss of $56.5 million, a 12% increase YoY. The results reflect a challenging market environment, with the company citing the impact of the COVID-19 pandemic on its business. Sonder Holdings operates a network of hotels and apartments, offering short-term rentals and longer-term stays. The company's revenue and net loss both exceeded analysts' expectations, with revenue at the high end of the guidance range and the net loss narrower than expected.