SoundHound AI Q1 revenue up 73% to $11.6M, raises FY2024 revenue outlook to $65-77M

SOUNDHOUND AI, INC.

2024-Q1 EPS reported -$0.12 revenue$11,594,000

Q1 revenue $11.6M (+73% YoY); GAAP net loss $33.0M ($0.12 EPS loss); non-GAAP net loss $19.9M ($0.07 EPS loss).
FY2024 revenue guidance raised to $65-77M; adjusted EBITDA loss of $15.4M in Q1.
Ended Q1 with $226M cash; acquired SYNQ3, adding over 10,000 active restaurant locations.
Cumulative subscriptions & bookings backlog $682M, up ~80% YoY.
GAAP gross margin 60%; non-GAAP gross margin 66%; annualized query run rate over 4 billion.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SOUNDHOUND AI, INC. reported first quarter 2024 results: revenue $11.6 million, net income $33.0 million, EPS $0.12. Guidance raised.

Period: first quarter 2024
Revenue: $11.6 million
Net income: $33.0 million
EPS: $0.12
Guidance: raised
Result: reported results

Exact text from the filing

(PRESS RELEASE, DATED MAY 9, 2024) --- EX-99.1 2 ea020567501ex99-1_sound.htm PRESS RELEASE, DATED MAY 9, 2024 Exhibit 99.1 SoundHound AI Reports 73% Q1 Revenue Growth to $11.6 Million; First Quarter Closes With $226 Million in Cash Company Raises Full Year Revenue Outlook SANTA CLARA, Calif.--( BUSINESS WIRE )--SoundHound AI, Inc. (Nasdaq: SOUN), a global

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Source: SEC EDGAR

accession 0001213900-24-041376

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