secwatch.observer — SEC 8-K summary
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Issuer:     SOUNDHOUND AI, INC. (SOUN)
CIK:        0001840856
Form:       8-K
Filed at:   2024-05-09T23:59:59+00:00
Accession:  0001213900-24-041376
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1840856/000121390024041376/0001213900-24-041376-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1840856/000121390024041376/ea0205675-8k_sound.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-041376

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer