SoundHound AI Q1 revenue up 56% to $6.7M; gross margin 71%; reaffirms FY guidance $43-50M

SOUNDHOUND AI, INC.

2023-Q1 EPS reported -$0.13 revenue$6,707,000

Revenue $6.7M (+56% YoY); gross margin 71% (up from 59%); net loss per share ($0.13) vs ($0.36) YoY.
Adjusted EBITDA loss ($14.8M), improved 21% sequentially and 13% YoY.
Cash $46.3M; raised over $150M YTD through April via equity and $100M debt.
Reaffirms FY2023 revenue guidance $43-50M; expects adjusted EBITDA positive in Q4 2023.
Launched SoundHound Chat AI with ChatGPT; partnerships with Oracle MICROS and Toast.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SOUNDHOUND AI, INC. reported first quarter ended March 31, 2023 results: revenue $6.7 million, net income Net loss of ($26,369) thousand, EPS ($0.13). Guidance reaffirmed.

Period: first quarter ended March 31, 2023
Revenue: $6.7 million
Net income: Net loss of ($26,369) thousand
EPS: ($0.13)
Guidance: reaffirmed
Result: reported results

Exact text from the filing

today, and it’s one of many ways we’re helping new and existing customers build game-changing consumer experiences.” Financial Highlights • First quarter reported revenue was $6.7 million, an increase of 56% year-over-year • First quarter gross margin was 71%, an improvement of approximately 1,200 basis points compared to 59% in the prior year • First quarter

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Source: SEC EDGAR

accession 0001840856-23-000025

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