(Boursier.com) — SoundHound fell by more than 20% before market on Wall Street, after a jump of 256% this year. This little AI “nugget”, in which Nvidia has invested, weighs nearly 2 billion dollars on the American market. Its fourth-quarter revenue rose 80% to $17.1 million, for a net loss of $18 million. The backlog of orders and subscriptions, however, has grown to $661 million, a doubling year-on-year. In terms of outlook, 2024 revenues are expected between $63 million and $77 million, while the 2025 target exceeds $100 million. SoundHound is an AI and voice recognition company. Nvidia has invested several million dollars on this issue, which perhaps partly explains the generous valuation at around 20 times estimated 2025 revenues. For the closed quarter, the net loss per share stood at 7 cents compared to 6 cents consensus. The mid-range of the 2024 revenue guidance exceeds expectations.
“This has been a groundbreaking year in which SoundHound has rapidly integrated powerful new generative AI capabilities. Our real-world voice AI applications are already live and driving consumer engagement across vehicles, devices and businesses customer service,” said Keyvan Mohajer, CEO and co-founder of SoundHound AI. “We also acquired SYNQ3, making SoundHound the largest provider of AI voice services for restaurants. Our pace and agility in the midst of this AI revolution has put us ahead of the field when it comes “is about delivering real business value.”
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