On August 6, SoundHound AI Inc rose 24.26% in pre-market trading, trading at $7.94/share, with turnover of $1.7591 million. The surge was driven by the company's Q2 earnings release after the prior session's close, which significantly exceeded market expectations.
SoundHound AI reported Q2 revenue of $61.9 million, representing 45% year-over-year growth and beating the analyst consensus estimate of $52.39 million by approximately 18%. Adjusted EPS came in at -$0.02, outperforming the -$0.06 consensus by 66.67%. The company also raised the lower bound of its full-year revenue guidance. As of quarter-end, SoundHound held $203 million in cash with zero debt. The interim CFO attributed the revenue acceleration to the OASYS platform.
Additionally, SoundHound recently received final regulatory clearance for its proposed $43 million acquisition of LivePerson, with all foreign investment approvals now secured. Wedbush estimates the combined business could generate $350-$400 million in revenue by fiscal 2027, with LivePerson's existing customers contributing at least $100 million. The company was also named a Leader in the Gartner Magic Quadrant for Conversational AI Platforms.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
