Sonder slumps on expecting wider loss in restated results due to accounting error

Sonder Holdings

18/03/2024 13:49

** Shares of Sonder Holdings  SOND.O  down 31% at $3.77
after hospitality company delays Q4 and FY23 results
    ** Stock set for worst day ever
    ** Co says it will require additional time to restate 2022
and 2023 financial statements after it identified accounting
errors
    ** It expects that the restatements, expected "as soon as
practicable," to increase the overall net loss and loss per
share in the impacted periods
    ** Co expects revenue of $164 mln in Q4 and about $603 mln
for FY23
    ** Stock down 68% in the past 12 months

 (Reporting by Medha Singh)
 ((medha.singh@thomsonreuters.com))