Apartment provider Sonder disclosed on Tuesday it had received
a delinquency notice from Nasdaq regarding failure to file its quarterly report
for the quarter ending June 30, 2024. This is the third consecutive quarter
that Sonder has failed to file timely reports. Sonder, in a previous response
to the delays this spring, cited “accounting errors related to the valuation and
impairment of operating lease right of use assets and related items for the
fiscal years 2022 and 2023.”
Nasdaq, in the notice, said Sonder would have until Aug. 30
to file the proper documents but could extend that to Sep. 30. Sonder so far has
given no timeline regarding when it expects to file compliant documentation.
Sonder earlier this week announced an integration
with Marriott International to distribute its content as Sonder Collection
by Marriott Bonvoy. Marriott will gain a share of Sonder’s gross room revenue
in the deal. Sonder has raised funds in recent month, after three years of
consecutive layoffs.
