Loading...
•
Sep 30, 2024
SoundHound Q3 2024 Earnings Report
SoundHound reported record revenue, improved customer concentration and industry diversification.
Key Takeaways
SoundHound AI reported a record third quarter revenue of $25.1 million, an 89% increase year-over-year. The company has expanded into new verticals and diversified its customer base, with significant contributions from automotive, restaurants, financial services, healthcare, and insurance sectors.
Reported revenue was $25.1 million, up 89% year-over-year.
Customer concentration improved significantly, with the largest customer contributing only 12% of revenue, compared to 72% in the prior year.
Industry diversification increased across automotive, restaurants, financial services, healthcare and insurance sectors.
GAAP earnings per share was a loss of ($0.06); non-GAAP earnings per share was a loss of ($0.04).
Forward Guidance
SoundHound is updating its revenue outlook for 2024 and 2025. SoundHound expects its full year 2024 revenue to be in a range of $82 - $85 million and its full year 2025 revenue outlook to be in a range of $155 - $175 million.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...