Sonder Holdings Inc. · OTC:SONDQ
Sonder — Corporate Update (June 2022)
10 slides from Sonder's corporate update, Jun 9, 2022
Slide 1: Cash Flow Positive Plan
Cash Flow Positive Plan June 9, 2022 Sonder The Henry, London Opened in April 2022
Slide 2: Forward-Looking Statements
2 2 Forward-Looking Statements This document contains a number of “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements about Sonder’s Cash Flow Positive plan, its forecasted revenue gro
Slide 3: Use of Non-GAAP Financial Measures
Use of Non-GAAP Financial Measures Sonder supplements its consolidated financial statements presented in accordance with generally accepted accounting principles in the United States (“GAAP”), by providing additional financial measures that are not prepared in accordance with GAAP, including Other O
Slide 4: Four levers to reach positive quarterly FCF within 2023
4(1) Represents difference between Q1 2022 on an annualized basis compared to 2H 2022 on an annualized basis. Excludes one-time restructuring costs. We expect to incur $3.5 million to $5.5 million in one-time restructuring costs, approximately 80% of which are expected to be paid out in Q2 2022 and
Slide 5: We plan to cut our cash costs by ~$85M on an annualized basis
5(1) Represents difference between Q1 2022 on an annualized basis compared to 2H 2022 on an annualized basis. Excludes one-time restructuring costs. We expect to incur $3.5 million to $5.5 million in one-time restructuring costs, approximately 80% of which are expected to be paid out in Q2 2022 and
Slide 6: Slowing growth in new unit signings; Live Units cash contribution positive
Live Units as of Q1 2022 7.7K All opening costs already incurred, Live Unit portfolio has been Cash Contribution¹ positive since Q3 2021 Additional Contracted Units as of Q1 2022 11.6K Upfront costs to originate and sign deals already incurred, vast majority of deals are capital light² 6 New Units S
Slide 7: Quarterly Sonder RevPAR and Q2 2022 guidance
7 Quarterly Sonder RevPAR Q2 2022 RevPAR Guidance Given our fixed landlord payments, a small increase in RevPAR translates to a much larger increase in Cash Contribution margin¹ We’re focusing on several rapid payback RevPAR initiatives, including our higher occupancy strategy & growing our new corp
Slide 8: Urban RevPAR recovery forecasts as a % of 2019
8 Annual RevPAR as a % of 2019 RevPAR for urban upper-upscale hotels, Sonder market-weighted STR Traditional Hotels (Urban - Upper Upscale) CBRE Traditional Hotels (Urban - Upper Upscale + Luxury) STR y/y Growth (68)% 69% 47% 13% 12% 7% CBRE yy Growth (72)% 82% 62% 17% 10% 7% We’ve sensitized our fo
Slide 9: Updated guidance & additional financial outlook
9 Updated guidance & additional financial outlook Free Cash Flow Revenue Q2 2022 Free Cash Flow Better than $(50)M¹ Q2 2022 Revenue growth More than 140% y/y 2H 2022 Free Cash Flow Better than $(70)M Q2 2022 RevPAR Better than $160 Reach positive quarterly FCF within 2023 FY 2022 Revenue growth +100
Slide 10: Investor Relations contact
Investor Relations: ir@sonder.com Media: press@sonder.com Found Dupont Circle, Washington, D.C. Opening in June 2022 10