Sonder Holdings reported full-year 2023 results, with revenue increasing 29.5% to $602.1 million. Net loss narrowed to $295.7 million from $245.0 million in 2022. Live Units grew 25.8% year-over-year to over 12,200 units, driving a 32.7% increase in Occupied Nights.The company made progress on its Cash Flow Positive Plan, with free cash flow excluding restructuring costs improving by $56.4 million compared to 2022. Cost reduction initiatives included a 17% reduction in corporate workforce announced in February 2024. Sonder also launched a portfolio optimization program to renegotiate lease terms at certain properties.However, Sonder expressed substantial doubt about its ability to continue as a going concern, citing a history of losses and negative cash flows. The company is pursuing strategic alternatives and financing arrangements, including a licensing agreement with Marriott International announced in summer 2024. Sonder aims to integrate its properties with Marriott's systems and distribution channels to potentially increase revenue and deliver cost savings.

Sonder Holdings reported full-year 2023 results, with revenue increasing 29.5% to $602.1 million. Net loss narrowed to $295.7 million from $245.0 million in 2022. Live Units grew 25.8% year-over-year to over 12,200 units, driving a 32.7% increase in Occupied Nights.The company made progress on its Cash Flow Positive Plan, with free cash flow excluding restructuring costs improving by $56.4 million compared to 2022. Cost reduction initiatives included a 17% reduction in corporate workforce announced in February 2024. Sonder also launched a portfolio optimization program to renegotiate lease terms at certain properties.However, Sonder expressed substantial doubt about its ability to continue as a going concern, citing a history of losses and negative cash flows. The company is pursuing strategic alternatives and financing arrangements, including a licensing agreement with Marriott International announced in summer 2024. Sonder aims to integrate its properties with Marriott's systems and distribution channels to potentially increase revenue and deliver cost savings.