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Jun 30, 2024
SoundHound Q2 2024 Earnings Report
SoundHound AI reported a 54% revenue increase and a record revenue for Q2 2024. The company also acquired Amelia to expand into new verticals.
Key Takeaways
SoundHound AI reported a 54% year-over-year revenue increase, reaching $13.5 million in Q2 2024. The company's cash balance stands at $201 million. They also acquired Amelia, an enterprise conversational AI leader, to expand into new verticals.
Revenue increased by 54% year-over-year to $13.5 million.
GAAP gross margin was 63%, while non-GAAP gross margin was 67%.
The company prepaid $100 million in debt, saving over $55 million in interest and fees.
Acquired Amelia to expand SoundHound AI’s customer service offering.
Forward Guidance
SoundHound expects its full year 2024 revenue to exceed $80 million and its 2025 revenue outlook to exceed $150 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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