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SoundHound AI, Inc. is a company operating in the Voice AI market, providing advanced voice recognition and artificial intelligence solutions. The company focuses on enabling voice-enabled interactions across various industries, including automotive, consumer electronics, and hospitality. SoundHound sells technology that allows businesses to integrate conversational AI into their products and services, enhancing user experiences.
- Product Royalties - Generates revenue from Houndified Products, which are voice-enabled tangible products across the automotive and consumer electronics industries. Revenue is based on volume, usage, or the life of the products.
- Service Subscriptions - Provides Houndified Services and Amelia services, including customer services, food ordering, content, appointments, voice commerce, autonomous business workflows, and IT systems analysis. Revenue is derived from monthly fees based on fixed fees, usage-based revenue, or revenue per user.
- Monetization - Earns revenue from the SoundHound music identification app, primarily through user ad impression revenue.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
James Hom ExecutiveBoard | Chief Product Officer | None | Co-founder of SoundHound (2006), oversees product development and innovation, key contributor to Houndify Voice AI platform. | |
Dr. Keyvan Mohajer Executive | Chief Executive Officer | None | Co-founder of SoundHound (2005), technical founder with over 20 years of experience, holds 90+ patents, recognized as a “Top 40 Under 40” business leader in 2017. | View Report → |
Dr. Majid Emami Executive | Vice President of Engineering | None | Co-founder of SoundHound (2006), leads R&D in speech recognition and machine learning, holds 16 patents. | |
Michael Zagorsek Executive | Chief Operating Officer | None | Joined SoundHound in 2016, transitioned from VP of Product Marketing to COO in 2020, oversees operations, planning, and strategy. | |
Nitesh Sharan Executive | Chief Financial Officer | None | Joined SoundHound in 2021, previously held executive roles at Nike and HP, oversees financial planning, investor relations, and treasury functions. | |
Timothy Stonehocker Executive | Chief Technology Officer | None | Joined SoundHound in 2006, specializes in scalable systems and search technologies, previously worked at Amazon and A9.com. | |
Dr. Eric Ball Board | Director | General Partner at Impact Venture Capital; Chairman of the Board at CapConnect+ | Board member since 2021, extensive finance and investing experience, focuses on early-stage AI start-ups through Impact Venture Capital. | |
Larry Marcus Board | Director | Co-founder and Managing Director at Marcy Venture Partners; Managing Director at Walden Venture Capital | Board member since 2009, venture capitalist with expertise in consumer and technology investments, co-founder of Marcy Venture Partners. |
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Your gross margin declined to 49% in Q3, down year-over-year due to the impact of the business mix from recent acquisitions; can you provide more detail on how you plan to recover margins and what timeline investors should expect?
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You've guided to achieve adjusted EBITDA profitability by the end of 2025; what are the key risks that could prevent you from reaching this goal, and how are you mitigating them?
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Regarding the Amelia acquisition, can you elaborate on which parts of the acquired business you might discontinue and how that will impact your revenue growth and profitability?
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Despite stating that your capital position is strong, you've announced a new at-the-market equity program and have $39 million of debt; can you clarify your capital needs and how you plan to manage your debt and equity financing going forward?
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With your development of the Polaris foundation model, how does it benchmark against other LLMs in the market, and what competitive advantages does it provide in a crowded AI landscape?
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Customer A | Master service agreement for Houndify Cloud Services | All | • 2024: 14% of total revenue (~$11.86M) <br> • 2023: 49% of total revenue, 40% of AR (~$1.62M) <br> • 2022: 42% of total revenue |
Customer B | Master service agreement for Houndify Cloud Services | All | • 2023: 13% of total revenue |
Customer C | Master service agreement for Houndify Cloud Services | All | • 2023: 32% of AR (~$1.30M) <br> • 2022: 13% of total revenue |
Customer D | Master service agreement for Houndify Cloud Services | All | • 2022: 12% of total revenue |
Customer E | Master service agreement for Houndify Cloud Services | All | • 2023: 15% of AR (~$0.61M) |
Customer F | Master service agreement for Houndify Cloud Services | All | • 2024: 23% of AR (~$5.33M) |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Amelia Holdings, Inc. | 2024 | SoundHound AI, Inc. completed the acquisition on August 6, 2024 with a preliminary fair value of approximately $103.9 million, including $80 million in cash/stock consideration, contingent earnouts, and the assumption of a senior secured term loan (net post-payment balance ≈ $39.7 million); the deal strategically strengthens SoundHound’s voice and conversational AI offerings across industries like healthcare, insurance, financial services, and retail. |
Immaterial Acquisition | 2024 | This immaterial acquisition, completed on June 14, 2024, involved a $1.0 million purchase consideration and net assets of $2.2 million with a recognized preliminary gain on bargain purchase of $1.2 million, driven by favorable fair values of intangible assets such as developed technology and customer relationships. |
SYNQ3 | 2024 | The acquisition of SYNQ3, closed on January 3, 2024, aimed to expand AI customer service solutions in the restaurant sector; it involved a total consideration between $15.7 million and $17.0 million through cash, shares, contingent milestone-based payments, and an indemnification holdback, thereby extending SoundHound’s market reach to over 10,000 restaurant locations. |
SoundHound, Inc. | 2022 | In 2022, SoundHound, Inc. merged with Archimedes Tech SPAC Partners Co. (a reverse recapitalization), with the transaction completed on April 26, 2022, resulting in the formation of SoundHound AI, Inc. that began trading on Nasdaq and received $113 million via a PIPE; this merger provided capital for expanding its leadership in the voice AI market. |
No recent press releases or 8-K filings found for SOUN.