SoundHound AI Q2 revenue $13.5M (+54% YoY); acquires Amelia, updates FY24 revenue to >$80M

SOUNDHOUND AI, INC.

2024-Q2 EPS reported -$0.23 revenue$25,056,000

Q2 GAAP net loss $37.3M, EPS loss $0.11; non-GAAP net loss $14.8M, EPS loss $0.04.
Acquired Amelia (enterprise conversational AI) to enter finance, insurance, healthcare verticals; also acquired Allset.
FY24 revenue guidance raised to >$80M; FY25 outlook >$150M post-acquisition.
Ended Q2 with $201M cash; prepaid $100M debt, saving $55M in interest and fees.
Cumulative subscriptions backlog $723M, roughly 2x YoY; signed large pizza chain; six Stellantis brands in production.

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