SoundHound AI Q2 revenue +42% to $8.8M, adjusted EBITDA loss narrows 50% to $9.9M

SOUNDHOUND AI, INC.

2023-Q2 EPS reported -$0.23 revenue$15,458,000

Revenue $8.8M vs $6.2M YoY (+42%); gross margin 79% vs 60%, up ~1,900 bps.
Net loss per share ($0.10) vs ($0.19); operating loss improved 43% to $16.4M.
Adjusted EBITDA loss ($9.9M) vs ($20.0M), improving 50%; cash $130M at quarter end.
Guidance reaffirmed: FY2023 revenue $43-50M, expects adjusted EBITDA positive in Q4.
Business highlights: generative AI foundation model training; White Castle drive-thru expansion to 100+ lanes.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.98

SOUNDHOUND AI, INC. reported second quarter ended June 30, 2023 results: revenue $8.8 million, net income $21.9 million, EPS $(0.10). Guidance reaffirmed.

Period: second quarter ended June 30, 2023
Revenue: $8.8 million
Net income: $21.9 million
EPS: $(0.10)
Guidance: reaffirmed
Result: reported results

Exact text from the filing

to create the first of its kind, multimodal foundation model, supporting speech-to-meaning and enabling incredible new experiences.” Financial Highlights • Reported revenue was $8.8 million, an increase of 42% year-over-year • Gross margin was 79%, an improvement of approximately 1,900 basis points compared to 60% in the prior year • Operating loss was $16.4

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Source: SEC EDGAR

accession 0001840856-23-000042

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