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Sep 30, 2023
SoundHound Q3 2023 Earnings Report
SoundHound AI reported record revenue and improved adjusted EBITDA.
Key Takeaways
SoundHound AI reported a record third quarter with revenue increasing to $13.3 million, a 52% sequential increase and a 19% year-over-year increase. The company also saw a 57% improvement in adjusted EBITDA year-over-year.
Third quarter revenue reached $13.3 million, representing a 52% sequential increase and a 19% year-over-year increase.
Gross margin was 73%.
Operating loss improved by 46% year-over-year.
Adjusted EBITDA improved by 57% year-over-year.
Forward Guidance
SoundHound expects fourth quarter 2023 revenue to be in a range of $16 to $20 million and continues to expect to be adjusted EBITDA positive.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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