SoundHound AI, Inc. (NASDAQ:SOUN) released its second-quarter results after Thursday's closing bell. Here's a look at the details from the report.
The Details: SoundHound AI reported quarterly adjusted losses of three cents per share which beat the Street estimate for losses of nine cents.
Quarterly revenue came in $42.68 million which beat the consensus estimate of $32.88 million.
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SoundHound AI reported the following second quarter highlights:
- Reported revenue was $42.7 million, an increase of 217% year-over-year.
- Non-GAAP gross margin was 58.4%.
- Non-GAAP net loss was $11.9 million.
- Adjusted EBITDA was a loss of $14.3 million.
“In SoundHound’s strongest ever quarter, many of our previous strategic moves delivered high-impact results with growth across every business unit. We realized significant new wins as well as cross-sell deals, demonstrating the incredible opportunity we predicted with our 2024 acquisitions,” said Keyvan Mohajer, CEO of SoundHound AI.
Outlook: SoundHound AI raised its fiscal 2025 revenue outlook to a range of $160 million to $178 million, versus the $159.54 million estimate.
SOUN Stock Price: According to data from Benzinga Pro, SoundHound AI stock was up 13.53% at $12.17 in Thursday's extended trading.
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