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Soundhound AI Q4 results miss analyst estimates; shares plunge

Investing.com -- Soundhound AI reported Thursday fourth-quarter results that missed analyst estimates even as the generative AI-enhanced voice product provider saw revenue swell amid new business wins.

SoundHound AI Inc (NASDAQ:SOUN) fell 15% in afterhours trading following the news.

For the three months ended Dec.. 31, the company reported a loss of $0.07 per diluted share, on revenue on $17.15M, missing estimates of a loss of $0.06 and $17.75M, respectively.

The wider loss on the bottom line comes even as revenue increased of 80% year-over-year in Q4, on rising demand for its voice AI applications.

Looking ahead to fiscal 2024, the company forecast revenue in a range of $63M to $77M. For 2025, revenue was expected to exceed $100 million, paving the way to achieve positive adjusted EBITDA.

 

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.