Sonder Q4 Earnings: Narrower Loss, Positive Net Income, and Improved EBITDA

Sonder reported a Q4 FY24 revenue of $161mln, down 2% YoY, and a net income of $4.55 per share. Adjusted EBITDA loss improved by 51% to $20mln. The company's RevPAR increased 19% YoY to $180. Sonder's focus on cost control and unit performance, despite a shrinking portfolio and negative cash flow. The company's strategic partnership with Marriott was completed, with guests able to book Sonder properties through Marriott's channels.

Sonder Holdings Inc. (SOND), a leading operator of tech-enabled short-term rental and hotel accommodations, released its fourth quarter fiscal 2024 results on July 23, 2025. The company reported a quarterly revenue of $161 million, down 2% year-over-year (YoY) from $164 million in Q4 2023 [2]. Despite this decline, Sonder achieved a net income of $4.55 per share, driven by a one-time gain from a preferred stock transaction [3].

Adjusted EBITDA loss narrowed to $20 million in Q4 2024, representing a 51% improvement compared to $42 million in Q4 2023 [3]. This significant reduction in adjusted EBITDA loss was a key highlight of the quarter. Sonder's revenue per available room (RevPAR) increased by 19% YoY to $180, reflecting strong demand in a smaller, more curated portfolio [3].

Sonder's strategic focus on cost control and unit performance was evident in the quarter. Operations and support costs (GAAP) fell sharply from $58.5 million to $42.7 million. The company also recorded impairment losses of $13.2 million (GAAP) as part of its portfolio optimization program [3].

A notable development was the completion of Sonder's strategic licensing agreement with Marriott. As of June 2025, guests can book Sonder properties through Marriott’s channels. This partnership aims to broaden Sonder's exposure and boost future bookings, although the full benefits are not yet visible in these quarterly results [3].

Sonder continues to face material risks, particularly around liquidity and debt. Only $21 million of its $72 million cash balance remained unrestricted as of December 31, 2024, while long-term debt (GAAP) rose to $217 million [3]. Continued access to new capital and successful execution of its partnerships and portfolio strategies are critical for future stability.

Management did not provide specific forward financial guidance for the upcoming quarter or year. The company expects to benefit from the full implementation of Marriott platform integration and ongoing cost discipline efforts.

References
[1] Sonder Holdings Inc. [https://finance.yahoo.com/quote/SOND/](https://finance.yahoo.com/quote/SOND/)
[2] Sonder Holdings press release [https://seekingalpha.com/news/4471388-sonder-holdings-gaap-eps-of-4_55-revenue-of-161m](https://seekingalpha.com/news/4471388-sonder-holdings-gaap-eps-of-4_55-revenue-of-161m)
[3] Sonder posts narrower loss in fiscal Q4 [https://www.nasdaq.com/articles/sonder-posts-narrower-loss-fiscal-q4](https://www.nasdaq.com/articles/sonder-posts-narrower-loss-fiscal-q4)