Pavilion Payments Appoints Brock Moorehouse as Vice President of Customer Success
'I look forward to working closely with our customers and the Pavilion team to ensure our solutions not only meet but exceed expectations, driving success for all stakeholders.'
Moorehouse brings over 17 years of gaming industry experience, beginning his career in 2008 at Downstream Casino Resort in Quapaw, Oklahoma. Rising from cage operations to Director of Compliance, Brock developed a comprehensive understanding of casino operations and a customer-focused mindset. His compliance leadership across multiple departments sharpened his ability to align operational processes with departmental success.
Before joining Pavilion Payments, Brock worked closely with the company during key product implementations, including the launch of VIP Mobility at its first casino location. This hands-on experience with Pavilion's solutions uniquely positions him to deliver value for both customers and the company.
In his new role, Moorehouse will lead Pavilion Payments' Customer Success team, enhancing client satisfaction and supporting the adoption and success of Pavilion's omnichannel payment products. He plans to evolve the Customer Success Manager role to better serve customer needs and align customer outcomes with Pavilion's growth and innovation goals.
'I've known Brock to be a relentless advocate for his guests and team,' said Lori Lawson, Chief Operations Officer at Pavilion Payments. 'His 17 years in casino operations, combined with hands-on experience using our products, make him the ideal leader to champion our mission of setting a new standard for customer success.'
'I'm thrilled to join Pavilion Payments at such an exciting time,' said Moorehouse. 'I look forward to working closely with our customers and the Pavilion team to ensure our solutions not only meet but exceed expectations, driving success for all stakeholders.'
About Pavilion Payments
Pavilion Payments enables the world's gaming entertainment leaders to create amazing consumer experiences and maximize spend across all their physical and digital properties. As the gaming industry's leading omnichannel payment solutions provider, Pavilion offers integrated omnichannel and software solutions that enable flexible funding, play, and cash out. For more information, visit www.pavilionpayments.com.
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Download the Sonder app on Apple or Google Play. 1 $ figures represent metrics for the three months ended December 31, 2024, except where otherwise noted. % figures represent year-over-year growth for the three months ended December 31, 2024 compared to the three months ended December 31, 2023. 2 Adjusted EBITDA, Adjusted EBITDAR, and Adjusted Free Cash Flow are non-GAAP financial measures. 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AND SUBSIDIARIES (in thousands, except share data) Three months ended December 31, Year ended December 31, 2024 2023 2024 2023 Revenue $ 161,078 $ 164,264 $ 621,272 $ 602,066 Costs and operating expenses: Cost of revenue (excluding depreciation and amortization) 89,237 102,951 377,243 392,898 Operations and support 42,660 58,487 184,343 212,913 General and administrative 40,102 19,145 123,390 112,082 Research and development 3,031 5,076 16,522 22,365 Sales and marketing 21,135 23,672 84,248 78,566 Impairment losses 13,164 58,078 13,164 59,165 Integration costs 1,066 — 1,066 — Restructuring and other charges 17 — 3,913 2,119 Total costs and operating expenses 210,412 267,409 803,889 880,108 Loss from operations (49,334 ) (103,145 ) (182,617 ) (278,042 ) Interest expense, net 9,618 7,124 34,213 25,409 Change in fair value of SPAC Warrants (94 ) 59 (87 ) (615 ) Change in fair value of Earn Out Liability (25 ) (230 ) (30 ) (2,372 ) Lease adjustment (gains), net 2,404 (1,569 ) (93,175 ) (10,145 ) Loss on preferred stock issuance — — 83,812 — Change in fair value of forward contract (91,955 ) — 28,652 — Other expense (income), net 1,947 4,520 (9,909 ) 6,282 Total non-operating (income) expense, net (78,105 ) 9,904 43,476 18,559 Income (loss) before income taxes 28,771 (113,049 ) (226,093 ) (296,601 ) Benefit for income taxes (2,632 ) (1,060 ) (2,006 ) (933 ) Net income (loss) $ 31,403 $ (111,989 ) $ (224,087 ) $ (295,668 ) Other comprehensive income (loss): Net income (loss) $ 31,403 $ (111,989 ) $ (224,087 ) $ (295,668 ) Change in foreign currency translation adjustment 7,017 (4,801 ) 2,384 (8,050 ) Comprehensive income (loss) $ 38,420 $ (116,790 ) $ (221,703 ) $ (303,718 ) Expand SONDER HOLDINGS INC. 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AND SUBSIDIARIES NON-GAAP FINANCIAL INFORMATION (2) Three months ended December 31, Year ended December 31, (in thousands) 2024 2023 2024 2023 Cash used in operating activities $ (38,771 ) $ (38,367 ) $ (129,222 ) $ (110,904 ) Cash provided by (used in) investing activities 7,824 74 5,729 (12,362 ) FCF, including cash received from Key Money investment and cash paid for lease terminations, restructuring, and professional fees (30,947 ) (38,293 ) (123,493 ) (123,266 ) Cash received from Key Money investment (7,500 ) — (7,500 ) — Cash paid for non-recurring professional fees 11,266 — 22,566 — Cash paid for restructuring costs 1,398 172 4,363 2,322 Cash paid for lease termination costs 164 1,343 14,499 1,343 Cash paid for integration costs 52 — 52 — Adjusted FCF $ (25,567 ) $ (36,778 ) $ (89,513 ) $ (119,601 ) Expand Reconciliation of Non-GAAP Financial Measure: Reconciliation of Net Loss to Adjusted EBITDA Three months ended December 31, Year ended December 31, (in thousands) 2024 2023 2024 2023 Net loss $ 31,403 $ (111,989 ) $ (224,087 ) $ (295,668 ) Interest expense, net 9,618 7,124 34,213 25,409 Benefit for income taxes (2,632 ) (1,060 ) (2,006 ) (933 ) Depreciation and amortization expense 3,639 3,239 16,989 22,147 EBITDA 42,028 (102,686 ) (174,891 ) (249,045 ) Stock-based compensation 1,603 4,512 8,005 28,494 Lease adjustment (gains), net 2,404 (1,569 ) (93,175 ) (10,145 ) Impairment loss 13,164 58,078 13,164 59,165 Loss on preferred stock issuance (1) — — 83,812 — Change in fair value of forward contract (91,955 ) — 28,652 — Restructuring and other related charges 17 — 3,913 2,119 Non-recurring professional fees 11,366 — 23,971 — Integration costs 1,066 — 1,066 — Adjusted EBITDA $ (20,307 ) $ (41,665 ) $ (105,483 ) $ (169,412 ) Expand (1) Includes $1.3 million associated with the preferred stock participation right. (2) See Non-GAAP Financial Measures section for definitions of the Company's Non-GAAP financial measures. Expand Definitions Key Money Key Money ('Key Money') represents $7.5 million received on April 11, 2025 from Marriott, completing the $15.0 million investment from Marriott under the Marriott Agreement. RevPAR Revenue Per Available Room ('RevPAR') represents the average revenue earned per available night and can be calculated either by dividing revenue by Bookable Nights, or by multiplying Average Daily Rate by Occupancy Rate. Average Daily Rate represents the average revenue earned per night occupied and is calculated as Revenue divided by Occupied Nights. Occupancy Rate is calculated as Occupied Nights divided by Bookable Nights. Bookable Nights represent the total number of nights available for stays across all Live Units. This excludes nights lost to full building closures of greater than 30 nights. Occupied Nights represent the total number of nights occupied across all Live Units. Live Units & Total Portfolio Total Portfolio consists of Live Units and Contracted Units. Live Units are defined as units which are available for guests to book. Contracted Units are units for which Sonder has signed real estate contracts, but are not yet available for guests to book. Non-GAAP Financial Measures Adjusted EBITDA Adjusted EBITDA is defined as net income (loss) as adjusted to eliminate the impact of net interest expense, provision (benefit) for income taxes, depreciation and amortization expense, and certain other items as indicated. The exclusion of these items and other similar items in our non-GAAP presentation should not be interpreted as implying that these items are non-recurring, infrequent or unusual. The Company believes Adjusted EBITDA is meaningful to investors as it is the primary operating performance measure that the Company focuses on internally to evaluate its core operating performance. Adjusted EBITDA provides a consistent basis for comparison across reporting periods by excluding interest, taxes, depreciation and amortization, and certain one-time, non-recurring or non-operational items, such as lease adjustment gains, net, restructuring and other related charges, and professional fees related to discrete projects such as fees associated with the integration in connection with the strategic licensing agreement with Marriott and restatement activities. It serves as a key measure for the Company to align its financial performance with its internal financial planning and analysis. Adjusted EBITDAR Adjusted EBITDAR is defined as Adjusted EBITDA adjusted for operating lease related rent charges. The Company believes Adjusted EBITDAR is meaningful to investors as it is an operating performance measure that further enables the Company to assess its operating performance independent of operating leases, offering insights into its cash flow and performance. Adjusted Free Cash Flow Adjusted Free Cash Flow ('Adjusted FCF') is defined as cash used in operating activities plus cash provided by (used in) investing activities, excluding the impact of the Key Money investment, lease terminations, restructuring, and non-recurring professional fee charges related to non-operational activities. The most directly comparable GAAP financial measures are cash used in operating activities when combined with cash provided by (used in) investing activities. The Company's near-term focus is to reach sustainable positive Adjusted FCF as described in its Cash Flow Positive Plan in the Annual Report on Form 10-K. The Company believes Adjusted FCF is meaningful to investors as it is the primary liquidity measure that the Company focuses on internally to evaluate its progress towards the objectives outlined in its Cash Flow Positive Plan. The Company believes that achieving its goals around this measure will put it on a path to financial sustainability and will help fund its future growth. In addition, Adjusted FCF may not provide a complete understanding of the Company's cash flow as a whole. As such, this measure should be reviewed in conjunction with the Company's GAAP cash flow. Presentation of these measures are not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based upon current expectations or beliefs, as well as assumptions about future events. Forward-looking statements include all statements that are not historical facts and can generally be identified by terms such as 'could,' "estimate," 'expect,' 'intend,' 'may,' 'plan,' "potentially," or 'will' or similar expressions and the negatives of those terms. These statements include, but are not limited to, statements relating to the Company's financial performance, the numbers of units and other metrics, the portfolio optimization program and other cost optimization measures, operational and strategic initiatives, the Company's integration efforts under its long-term strategic licensing agreement with Marriott, and information concerning possible or assumed future financial or operating results and measures. These forward-looking statements are not guarantees of future performance, conditions or results. Actual results could differ materially from those expressed in or implied by the forward-looking statements due to a number of risks and uncertainties, including the risks and uncertainties described in the Company's reports filed with the Securities and Exchange Commission, and under the heading 'Risk Factors' in its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which are available at The forward-looking statements contained herein are only as of the date of this press release. Except as required by law, the Company does not undertake any obligation to update or revise its forward-looking statements to reflect events or circumstances after the date of this press release.
