Sonder – a publicly traded company since its SPAC merger
with Gores Metropoulos II that closed in January – finished 2021 with its full
year revenue up 101% compared to 2020, to nearly $233 million from $116 million
a year prior.
Revenue in the fourth quarter of 2021 showed even bigger improvement over a
year earlier, up 204% to nearly $87 million.
Adjusted EBITDA is negative for the quarter and full year.
In Q4 adjusted EBITDA loss came in at $58.5 million – slightly better than $59 million
in Q4 2020. For the full year, adjusted EBITDA loss was $217 million, an
increase of 3% over 2020, which the company attributes to investments made in
conjunction with the SPAC merger and costs associated with the rapid expansion
of its property portfolio.
RevPAR in Q4 came in up 92% year-over-year, to $142 – which is
also 112% of RevPAR in Q4 2019. For the full year, RevPAR was $115, up 55% compared
to 2020.
In a letter to shareholders, Sonder…
