Welcome to our dedicated page for SOUNDHOUND AI news (Ticker: SOUN), a resource for investors and traders seeking the latest updates and insights on SOUNDHOUND AI stock.
SoundHound AI Inc (SOUN) delivers cutting-edge Voice AI solutions through its independent conversational intelligence platform. This news hub provides investors and industry observers with verified updates about the company’s technological advancements and market position.
Access official press releases, earnings announcements, and strategic partnership updates in one centralized location. Our curated collection helps stakeholders track product launches, intellectual property developments, and leadership changes impacting the Voice AI landscape.
All content undergoes strict verification to ensure accuracy and relevance. Users will find updates about natural language processing innovations, speech recognition enhancements, and enterprise adoption across automotive, hospitality, and consumer electronics sectors.
Bookmark this page for real-time notifications about SOUN’s progress in shaping voice-enabled interfaces. Combine this resource with SEC filings and earnings call transcripts for comprehensive analysis of the company’s trajectory in conversational AI.
SoundHound AI (Nasdaq: SOUN) reported strong Q2 2024 results with 54% year-over-year revenue growth to $13.5 million. The company closed the quarter with over $200 million in cash. Key highlights include:
- Acquisition of Amelia, an enterprise conversational AI leader, expanding into finance, insurance, and healthcare
- GAAP gross margin of 63%; non-GAAP gross margin of 67%
- Annual query run rate over 5 billion, up 90% year-over-year
- Cumulative subscriptions & bookings backlog of $723 million, roughly doubled year-over-year
- Prepaid $100 million debt, saving over $55 million in interest and fees
SoundHound updated its revenue outlook, now expecting to exceed $80 million in 2024 and $150 million in 2025. The company continues to expand its customer base across various industries, including automotive, restaurants, and customer service.
SoundHound AI (Nasdaq: SOUN) has acquired Amelia, a leading enterprise AI software company, for $80M in cash and equity. This strategic move positions SoundHound as a foremost provider of voice and conversational generative AI across multiple industries. The acquisition brings together complementary product portfolios and expands SoundHound's customer base to nearly 200 marquee customers, including top global banks and Fortune 500 organizations.
Key highlights:
- Combined revenue in 2025 expected to exceed $150M
- Amelia to contribute over $45M in recurring AI software revenue
- Transaction expected to be accretive to SoundHound earnings in H2 2025
- Combined company holds approximately $160M cash and $39M debt at closing
- Expands into new verticals: healthcare, insurance, financial services, and retail
- Enhances voice commerce ecosystem potential
SoundHound AI (Nasdaq: SOUN) has expanded its SoundHound Chat AI voice assistant with integrated ChatGPT to Alfa Romeo and Citroën vehicles across multiple European markets. This follows recent launches in Peugeot, Opel, and Vauxhall vehicles. The assistant will be available in Alfa Romeo Junior Ibrida and various Citroën models.
The AI-powered assistant enhances traditional in-vehicle capabilities with ChatGPT-style responses, offering features like navigation, real-time information, and conversational interactions. SoundHound reports up to a sixfold increase in voice assistant usage and a 5x increase in Net Promoter Score across brands, indicating growing demand for intelligent AI voice assistants in vehicles.
SoundHound AI (Nasdaq: SOUN), a leader in voice artificial intelligence, has announced it will release its 2024 second quarter financial results on Thursday, August 8, 2024 after market close. The company will host a conference call and webcast to discuss the results on the same day at 2:00 p.m. PT / 5:00 p.m. ET.
Co-Founder and CEO Keyvan Mohajer and CFO Nitesh Sharan will lead the conference call. Investors can access a live audio webcast at investors.soundhound.com, where a replay will also be available. Those interested in receiving company email notifications can register at the investor relations website.
SoundHound AI (Nasdaq: SOUN) and Beef 'O' Brady's have partnered to implement an advanced voice AI ordering system for phone orders. The system, initially live in corporate locations and available for franchises, is trained on Beef 'O' Brady's menu and understands natural speech. It answers 100% of calls, even during busy periods, and can handle multiple orders simultaneously.
The AI can also answer menu-related questions, provide information about specials, promotions, and handle inquiries about opening times and allergens. This collaboration aims to enhance customer satisfaction and operational efficiency, especially as the 2024 Summer Olympics approach. SoundHound's voice AI solutions are already deployed in over 10,000 restaurant locations, reflecting a growing trend in AI-assisted food ordering.
SoundHound AI has launched its Chat AI voice assistant, integrated with ChatGPT, in Peugeot, Opel, and Vauxhall vehicles across 11 European markets including Austria, France, Germany, Italy, Spain, and the United Kingdom. By July's end, this rollout will extend to 17 markets in 12 languages. Initially, in March 2024, Stellantis’ DS Automobiles was the first to adopt this technology. The new inclusion in Peugeot, Opel, and Vauxhall offers drivers hands-free control over navigation, calls, real-time information, and more. SoundHound’s data reveals a significant rise in AI usage, with a sixfold increase and a 50% rise in interaction frequency. This innovation heralds a new era in in-vehicle voice AI technology.
SoundHound AI announced the automatic conversion of all series A preferred stock into class A common stock, a move triggered by strong stock performance surpassing the set conditions. This follows the company's successful voluntary conversion of most preferred shares by investors. The conversion eliminates all preferred stock rights. This step comes after SoundHound AI's recent full repayment of $100 million in debt, marking a significant milestone in the company's financial restructuring. For more details, see the Current Report on Form 8-K filed on June 27, 2024.
SoundHound AI has acquired key assets from Allset, an online ordering platform. This acquisition aims to enhance SoundHound's vision of a voice commerce ecosystem, allowing consumers to order food via voice AI from various devices like cars, phones, and smart devices.
Allset’s team will join SoundHound, contributing their expertise and expanding SoundHound's restaurant partnerships and technological capabilities. Allset's existing restaurant partners and new signups will gain access to SoundHound's voice AI products, aiming to improve operational efficiency and increase sales.
The acquisition includes plans to integrate voice-enabled food and drink ordering across millions of devices. SoundHound already collaborates with over 10,000 restaurant locations and works with major clients in sectors like smart devices, TVs, and automotive. The Allset leadership team, including Co-Founders Stas Matviyenko and Anna Polishchuk, will play a pivotal role in advancing SoundHound's voice monetization platform.
SoundHound AI announced a significant financial milestone by agreeing to prepay its $100 million debt in full, saving over $55 million in interest and fees. This move also releases approximately $14 million of restricted cash. Post-payment, the company retains a cash balance of $180 million and has no outstanding debt, bolstering its liquidity and financial flexibility. CFO Nitesh Sharan highlighted that this debt-free status will enable SoundHound to capitalize on growing customer demand for its voice AI solutions.
SoundHound AI reported a 73% revenue growth to $11.6 million in Q1 2024, closing the quarter with $226 million in cash. The company raised its full-year revenue outlook, emphasizing the demand for subscriptions in voice AI technology across automotive and customer service sectors. The financial highlights include GAAP gross margin of 60%, non-GAAP gross margin of 66%, GAAP EPS loss of ($0.12), non-GAAP EPS loss of ($0.07), GAAP net loss of ($33.0) million, non-GAAP net loss of ($19.9) million, and Adjusted EBITDA of ($15.4) million. Business highlights comprise the acquisition of SYNQ3, partnerships in the automotive industry, and collaborations with large brands in the customer service sector.
