SoundHound AI reports Legacy Q1 2022 revenue $4.29M, net loss widens to $25.1M

SOUNDHOUND AI, INC.

2022-Q1 EPS reported -$0.02 revenue$4,290,000

Revenue of $4.29M, up 15% YoY from $3.74M; net loss widened to $25.1M from $19.3M.
Cash and equivalents $8.2M; accumulated deficit $411.8M as of March 31, 2022.
Operating loss of $20.7M; R&D expense $16.7M (66% of operating expenses).
Business Combination closed Apr 26, 2022, providing net proceeds of ~$93M.
Four customers accounted for 59% of Q1 2022 revenue.

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