SoundHound AI reported 2024 revenue of $84.69 million, up 85%, and a net loss of $350.68 million

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

SoundHound AI, which described itself as offering independent voice AI to businesses, reported revenue of $84.69 million for 2024, up 85% from $45.87 million a year earlier, in its Form 10-K (the annual report a US-listed company files with the SEC) filed on Mar 11, 2025. Its loss from operations was $341.35 million, against $68.61 million a year earlier, and its net loss was $350.68 million, against $88.94 million. That net loss is the total before preferred dividends: after $0.42 million of dividends on its Series A preferred stock in 2024, the loss attributable to common shareholders was $351.10 million. The loss per diluted share was $1.04, against $0.40.1^,2^,3^,4^,5^,6^,7^,8^,9^,10^,11^,12^,13

Among the operating expenses, the 10-K listed a $222.67 million loss from the change in fair value of contingent acquisition liabilities, which the company tied to contingent payments for the SYNQ3 and Amelia acquisitions. The company said the line was mainly driven by its stock price over the year and by the assessed probability of reaching revenue targets set in the acquisition agreements, and called the fluctuation non-operating and non-cash. The notes tied $211.9 million of it to the earnout for Amelia, a conversational AI software company SoundHound completed buying on Aug 6, 2024; the sellers could earn up to 16,822,429 shares if revenue targets for fiscal 2025 and 2026 were met.14^,15^,16^,17^,18^,19^,20

Service subscriptions rose to $56.35 million from $1.94 million, which the company attributed to revenue from acquisitions. The notes said Amelia contributed $42.0 million of revenue in 2024 and SYNQ3 $12.0 million. Product royalties fell to $27.96 million from $43.30 million, mainly in Asia, where the company cited minimum-guarantee licensing or point-in-time revenue relating to Houndify Edge that it recognized in the previous period. Gross margin dropped to 49% from 75% in 2023, which the company tied to the Amelia and SYNQ3 acquisitions, including a mix of lower-margin call-center agent business from SYNQ3 and amortization of acquired intangible assets.21^,22^,23^,24^,25^,26

In its earnings release of Feb 27, 2025, the company reported a full-year adjusted EBITDA loss of $61.9 million, against $35.9 million a year earlier. Adjusted EBITDA was the company's own measure, outside US accounting rules (non-GAAP), and it left out items such as stock-based compensation and the change in fair value of contingent acquisition liabilities. Unrestricted cash and cash equivalents were $198.2 million at the end of 2024. On Jan 24, 2025, it signed a second at-the-market program, under which it could sell up to $250.0 million of its shares from time to time, and in January and February it sold 4,248,900 shares under it at an average of $15.94, for $67.7 million in gross proceeds. The release also raised the company's 2025 revenue outlook to $157 to $177 million; its annual report for 2025 later reported revenue of $168.92 million, within that range.27^,28^,29^,30^,31^,32^,33^,34^,35^,36

Our records hold the 10-K's management discussion and notes to the financial statements and nothing else of it, and keep one value for each period, so they cannot tell whether year-earlier figures were restated.37^,38