Investors Like What They Heard. SoundHound (SOUN) Reports Q1 Earnings, Stock Trading Up ~15%

The voice, sound, and natural language AI focused company SoundHound AI (SOUN) reported its first quarter financial results yesterday, after the close. Its highlights included 73% in Q1 revenue growth to $11.6M which beat consensus of $10.1M and a cash position of $226M. Additionally the company beat Q1 EPS ($0.07) vs FactSet ($0.09) but missed on adjusted EBITDA ($15.4M) vs FactSet ($9.7M).

SoundHound AI CEO and Co-Founder, Keyvan Mohajer stated, “Our first quarter sets the tone for 2024 as another year of strong growth for SoundHound. Voice AI is fast becoming a must-have tool for customer service, and that’s reflected in the demand we’re seeing for subscriptions.”

The PRISM NextGen and AI Index company has been trading up ~15% today after the report and is up 161% YTD.

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Investors Like What They Heard. SoundHound (SOUN) Reports Q1 Earnings, Stock Trading Up ~15%

Ashlee Vogenthaler

Markets Editor