Sonder reported a 29.5% increase in annual revenue to $602.1M for 2023, while net loss widened to $295.7M from $245.0M in 2022. The hospitality company maintained strong operational metrics with an 82% occupancy rate and $151 RevPAR, operating across 44 cities in 10 countries with over 12,200 Live Units as of December 31, 2023.The company has undertaken significant strategic initiatives, including securing $43.3M through a Series A Preferred Stock offering and obtaining $20M in additional financing through Delayed Draw Notes. A notable development was the strategic licensing agreement with Marriott International in August 2024, introducing the "Sonder by Marriott Bonvoy" collection. Additionally, the company implemented a 17% workforce reduction in February 2024, targeting annual savings of approximately $11M.Financial challenges persist as Sonder reported material weaknesses in internal controls and substantial going concern doubts. The company's financial position shows a cash balance of $95.8M, total debt of $170.2M, and significant operating lease obligations of $1.8B as of year-end 2023. Management continues to execute portfolio optimization strategies while addressing these financial challenges.

Sonder reported a 29.5% increase in annual revenue to $602.1M for 2023, while net loss widened to $295.7M from $245.0M in 2022. The hospitality company maintained strong operational metrics with an 82% occupancy rate and $151 RevPAR, operating across 44 cities in 10 countries with over 12,200 Live Units as of December 31, 2023.The company has undertaken significant strategic initiatives, including securing $43.3M through a Series A Preferred Stock offering and obtaining $20M in additional financing through Delayed Draw Notes. A notable development was the strategic licensing agreement with Marriott International in August 2024, introducing the "Sonder by Marriott Bonvoy" collection. Additionally, the company implemented a 17% workforce reduction in February 2024, targeting annual savings of approximately $11M.Financial challenges persist as Sonder reported material weaknesses in internal controls and substantial going concern doubts. The company's financial position shows a cash balance of $95.8M, total debt of $170.2M, and significant operating lease obligations of $1.8B as of year-end 2023. Management continues to execute portfolio optimization strategies while addressing these financial challenges.