SoundHound AI Inc (NASDAQ:SOUN) reported financial results for the first quarter after the market close on Thursday. Here’s a rundown of the report.
- SoundHound AI stock is trading near recent lows. Where are SOUN shares going?
SoundHound Q1 Keys
SoundHound reported first-quarter revenue of $44.20 million, beating the consensus estimate of $42.56 million. The conversational AI company reported an adjusted loss of six cents per share for the quarter, missing estimates for a loss of four cents per share, according to Benzinga Pro.
Total revenue was up 52% on a year-over-year basis. The company reported an adjusted EBITDA loss of $26.7 million. SoundHound ended the quarter with $216 million in cash and cash equivalents.
“Excluding the impact of all acquisitions, revenue was up 88% in our core automotive and IoT AI vertical, highlighting incredible demand across all pillars of our business,” said Keyvan Mohajer, co-founder and CEO of SoundHound AI.
“Our launch of OASYS and our planned acquisition of LivePerson will bring the world’s first self-learning agentic AI platform to one of the most robust enterprise footprints in the entire conversational AI sector.”
SoundHound affirmed its full-year 2026 revenue outlook of $225 million to $260 million, versus estimates of $232.78 million.
SoundHound executives will further discuss the quarter on an earnings call with investors and analysts at 5 p.m. ET.
SOUN Shares Slide
SOUN Price Action: SoundHound AI shares were down 9.87% in after-hours, trading at $8.68 at the time of publication on Thursday, according to Benzinga Pro.
Image: Shutterstock.com
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