NEWS ER
SoundHound AI Reports Record Third Quarter Revenue, Up 89%, Exceeding $25 Million; Raises Outlook
Positive
Record quarterly revenue of $25.1M, up 89% YoY
Significant customer diversification, reducing single-customer concentration from 72% to 12%
Expanded into multiple sectors with balanced revenue distribution (5-25% per sector)
Raised full-year 2024 revenue guidance to $82-85M
Strong cash position with $136M in cash and equivalents
Record quarterly revenue of $25.1M, up 89% YoY
Significant customer diversification, reducing single-customer concentration from 72% to 12%
Expanded into multiple sectors with balanced revenue distribution (5-25% per sector)
Raised full-year 2024 revenue guidance to $82-85M
Strong cash position with $136M in cash and equivalents
Negative
GAAP net loss increased to $21.8M
GAAP gross margin declined from 72.9% to 48.6% YoY
Adjusted EBITDA loss widened to $15.9M from $7.3M YoY
Operating loss increased 132% to $33.8M
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Spread kindness and love. Life is short. Don’t let greed eat you.
2537Followers
107Following
28KVisitors
Follow