secwatch.observer — SEC 8-K summary
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Issuer:     SOUNDHOUND AI, INC. (SOUN)
CIK:        0001840856
Form:       8-K
Filed at:   2022-11-10T23:59:59+00:00
Accession:  0001840856-22-000005
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SoundHound Q3 revenue $11.2M (+178% YoY); backlog $302M +239%; cuts 10% workforce
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- Record cumulative bookings backlog of $302M, up 239% YoY; record revenue $11.2M, up 178% YoY.
- Gross margin improved to 77% from 59% YoY; net loss per share improved to $0.15 from $0.35.
- Reaffirmed FY2022 revenue guidance, narrowed to $28-$32M from prior $27-$33M.
- Announced ~10% workforce reduction and discretionary cost cuts to accelerate profitability.
- Monthly queries ~180M, more than doubled YoY; new/expanded auto deals with Stellantis, Dongfeng Peugeot, LG, Harman.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1840856/000184085622000005/0001840856-22-000005-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1840856/000184085622000005/soun-20221110.htm
  HTML page:      https://secwatch.observer/filing/0001840856-22-000005

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