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Tesla
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Advanced Micro Devices
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Palantir
-- 64.980 
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
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