SoundHound AI Inc
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
Why this colour
Yellow, because the business basically works but the decisive operating question is open: whether the acquired revenue turns into a company that earns its own money. Excluding accounting effects, operating losses are growing with revenue, operations burn cash, and the LivePerson integration is the largest yet. There is no substance risk in the sense of red: with $202.8 million in cash and no debt (June 30, 2026, SoundHound alone before LivePerson), the money lasts roughly six quarters at the second-quarter 2026 burn rate; how much cash the combined company uses will only show in the next quarterly report. There is no going-concern warning.Ineffective controls and heavy dilution are serious points, but not a breakdown of the balance sheet.
What the thesis turns on
Assessment: Opportunities & Risks
SoundHound AI is growing fast and, as of June 30, 2026, before LivePerson, had just over $200 million in cash and no financial debt. But the growth is mostly acquired and paid for in stock, operating losses keep rising once accounting effects are stripped out, and LivePerson adds a shrinking business that generated more revenue in 2025 than SoundHound itself. Not investment advice.
Growth
2025 revenue $168.9M (+99%), Q2 2026 $61.9M (+45%); 2026 outlook excl. LivePerson $230–260M (08/05/2026).
Source of growth
According to the 2025 10-K, acquisitions drove the $77.2M increase in subscription revenue; Interactions accounted for about 26% of H1 2026 revenue.
Profitability
Operating result excl. earn-out remeasurement 2025 −$186.4M (our calculation); operating cash flow 2025 −$98.2M, H1 2026 −$60.0M.
Balance sheet
Cash of $202.8M and no debt (06/30/2026); LivePerson's notes were retired mainly with stock at closing on 09/04/2026.
Dilution
Class A+B shares from 200.0M (12/31/2022) to 444.1M (08/31/2026), roughly 486M after LivePerson by our estimate; ATM program up to $300M since 05/11/2026.
Reporting quality
Internal controls rated not effective since 12/31/2023, disclosure controls also as of 06/30/2026; shareholder suit pending since March 2025, motion to dismiss partly denied on 05/19/2026 (no class certification).
Worth Noting
Name history: Archimedes Tech SPAC Partners Co. (SPAC, under that name at the SEC until 05/02/2022) → SoundHound AI, Inc. after the merger with SoundHound Inc. on 04/26/2022; same CIK 0001840856.
Other market value figures sometimes count only the 411.6M Class A shares of 08/31/2026. Our estimate (roughly 486M shares) adds the 36.9M shares for LivePerson's noteholders, roughly 4M to 6M shares for LivePerson's stockholders and 32.5M Class B shares.
Reviewed: 10-K for 2025, 2024, 2023 and 2022, 10-Q for 06/30/2026, 03/31/2026 and 09/30/2023, all filings through 10/17/2026. The quarterly report for 09/30/2026 had not been filed at the time of writing.
Stock Watch
This analysis is as of October 17, 2026. Stock Watch will tell you what's changed at SOUN since then.
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Price history
Chart
Interactive price chart (TradingView).
52-week range: 4.20 $ to 18.20 $ · Last price: 4.20 $ (As of: October 30, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 10/30/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Software - Application
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| SoundHound AI Inc SOUN | 1.7 | – | 135.8 | 42.3 | -75.9 | 99.5 | -76.0 |
| Salesforce.com Inc CRM | 183.7 | 22.9 | 13.4 | 77.3 | 21.8 | 9.6 | -10.0 |
| Uber Technologies Inc UBER | 132.9 | 17.8 | 18.1 | 40.8 | 14.6 | 18.3 | -32.4 |
| Automatic Data Processing Inc ADP | 117.4 | 26.9 | 17.0 | 48.8 | 30.2 | 7.1 | 15.6 |
| ServiceNow Inc NOW | 105.1 | 61.0 | 34.1 | 73.2 | 13.3 | 20.9 | -43.8 |
| Snowflake Inc. SNOW | 104.3 | – | -76.6 | 67.0 | -22.2 | 29.2 | 22.5 |
| Adobe Systems Incorporated ADBE | 98.2 | 14.3 | 9.5 | 89.3 | 35.3 | 10.5 | -26.2 |
| Intuit Inc INTU | 93.7 | 21.8 | 11.1 | 81.0 | 47.0 | 15.6 | -47.3 |
| Cadence Design Systems Inc CDNS | 90.4 | 73.8 | 38.8 | 85.7 | 29.7 | 14.1 | -2.4 |
| Median of companies shown | 104.3 | 22.9 | 17.0 | 73.2 | 21.8 | 15.6 | -26.2 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2019 | 8 | -65 | -64 | -5.56 | -46 | 20 | 64 |
| 2020 | 13 | -66 | -74 | -4.26 | -46 | -276 | 64 |
| 2021 | 21 | -65 | -80 | -0.40 | -66 | -343 | 49 |
| 2022 | 31 | -106 | -117 | -0.74 | -94 | -37 | 38 |
| 2023 | 46 | -69 | -89 | -0.39 | -68 | 28 | 151 |
| 2024 | 85 | -341 | -351 | -1.04 | -109 | 183 | 554 |
| 2025 | 169 | -23 | -14 | -0.03 | -98 | 464 | 688 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
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· Total · per year
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The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q3 | -0.04 | 55.60 | 25 | 89.10 | -86.70 | -35 | -36 |
| 2024: Q4 | -0.05 | 28.60 | 35 | 101.50 | -748.60 | -33 | -33 |
| 2025: Q1 | -0.06 | 14.30 | 29 | 151.20 | 446.10 | -19 | -19 |
| 2025: Q2 | -0.19 | -375.00 | 43 | 217.10 | -175.10 | -25 | -25 |
| 2025: Q3 | -0.03 | 25.00 | 42 | 67.60 | -259.90 | -33 | -33 |
| 2025: Q4 | 0.10 | 300.00 | 55 | 59.40 | 72.80 | -22 | -24 |
| 2026: Q1 | -0.06 | 0.00 | 44 | 51.70 | -56.60 | -26 | -27 |
| 2026: Q2 | -0.10 | 47.40 | 62 | 45.00 | -69.20 | -34 | -34 |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 13 of our scanner strategies — each hit links to the scanner.
Backtested Scanners
Growth
Research
Risk & Weakness
- Below the 50- & 200-SMA
- Beneish M-Score
- Near 52-Week Low
- RS Weakness (≤10)
- Stage 4 (Downtrend)
- Stan Weinstein: Stage 4
- Stan Weinstein: Stage 4B-
- Weakness Cluster
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. Scanners marked in red are red-flag signals (risk/short scanners) — appearing there is not a seal of approval. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Distribution of Recommendations
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | -0.16 | -0.16 – -0.16 | 294 | -23.1% | 1 |
| 12/31/2027 | -0.10 | -0.15 – -0.01 | 390 | 37.5% | 3 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Valuation
What is priced in?
Free cash flow over the past twelve months is negative, which rules out a serious reverse calculation. Any growth rate only makes a negative cash flow more negative; no present value comes out of it. What the price reflects here is therefore not a stream of cash flows, but the expectation that there will be one at all.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
SoundHound AI verkauft künstliche Intelligenz als Kernprodukt: Sprach- und Agenten-KI für Autohersteller, Gerätebauer, Restaurants und den Kundenservice von Banken, Versicherern und Krankenhäusern. Praktisch der gesamte Umsatz (2025: 168,9 Millionen US-Dollar; erstes Halbjahr 2026: 106,1 Millionen) stammt aus Lizenzgebühren für die eigene Sprach-KI und aus Abos für KI-Dienste; seit Mai 2026 bündelt die Plattform OASYS alle Angebote als System für KI-Agenten, die Bestellungen, Termine und Anfragen selbständig abwickeln. Mit der Übernahme von LivePerson (04.09.2026) kommt Chat- und Messaging-Kundenservice hinzu, der in OASYS integriert werden soll. Der Geschäftsbericht nennt starken Wettbewerb, auch durch große Technologiekonzerne und Alternativen, die womöglich deutlich günstiger oder kostenlos angeboten werden; nach der Vorrang-Regel (verkauft vor bedroht) gilt „verkauft“.
View the full file — quotes, sources, reviewed filings
„We are a global leader in conversational intelligence, offering independent Voice AI solutions that enable businesses to deliver high-quality conversational experiences to their customers."
Wir sind ein weltweit führender Anbieter von Gesprächsintelligenz und bieten unabhängige Sprach-KI-Lösungen an, mit denen Unternehmen ihren Kunden hochwertige Gesprächserlebnisse bieten können.
10-K · 2026-03-02 · View SEC filing
„In May 2026, we launched OASYS (Orchestrated Agent System), our unified agentic AI platform."
Im Mai 2026 haben wir OASYS (Orchestrated Agent System) gestartet, unsere einheitliche Plattform für agentische KI.
10-Q · 2026-08-10 · View SEC filing
„Through OASYS, our customers can build, deploy, and manage multilingual AI agents that handle transactions, tasks, and workflows across multiple channels."
Über OASYS können unsere Kunden mehrsprachige KI-Agenten erstellen, einsetzen und verwalten, die Transaktionen, Aufgaben und Arbeitsabläufe über mehrere Kanäle hinweg abwickeln.
10-Q · 2026-08-10 · View SEC filing
Filings Reviewed: 10-Q 2026-08-10 · 10-Q 2026-05-11 · 10-Q 2025-11-10 · 10-Q 2025-08-11 · 10-K 2026-03-02 · 10-K 2025-03-11
Rated on October 17, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years 75.7%
- More than 10% revenue growth is expected for the coming year 73.9%
- Share count grows by less than 3% a year 37.1%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") 38.4%
- Gross margin at 40% or higher and without meaningful erosion 42.4%
- Goodwill from acquisitions does not grow faster than revenue 17.8%
- Net debt below twice EBITDA 244 m net cash
- Operating cash flow covers the profits of the last three years 178 m
- Return on capital at 15% or higher, or up versus two years ago -3.8%
- Insiders hold at least 10% or are net buyers 1.9%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
5/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% 67.4%
- Exp. sales growth 3Y > 5% 52.0%
- EBIT growth 10Y > 5% –
- Exp. EBIT growth 3Y > 5% 52.0%
- Net debt < 4x EBIT –
- EBIT positive, 10Y straight 0
- Max. EBIT decline < 50% –
- Return on equity > 15% -8.8%
- ROCE > 15% -3.8%
- Expected return > 10% 42.8%
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
Insiders
Insider Transactions
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| Sep 17, 2026 | Sroka Diana | Director | Sell | 1,552 | 6.11 | 9,483 |
| Sep 15, 2026 | Zagorsek Michael | Chief Operating Officer | Sell | 71,113 | 6.33 | 450,046 |
| Sep 15, 2026 | Hom James Ming | Chief Product Officer | Sell | 38,730 | 6.33 | 245,107 |
| Sep 15, 2026 | Emami Majid | CSO & SVP, Engineering | Sell | 38,730 | 6.33 | 245,107 |
| Sep 15, 2026 | Mohajer Keyvan | CEO | Sell | 137,290 | 6.33 | 868,853 |
| Sep 4, 2026 | Collins John DeNeen | Chief Financial Officer | Other | 1,000,000 | 0.00 | – |
| Sep 4, 2026 | Collins John DeNeen | Chief Financial Officer | Other | 50,573 | – | – |
| Aug 27, 2026 | Sroka Diana | Director | Sell | 1,343 | 7.15 | 9,602 |
| Jul 31, 2026 | Zagorsek Michael | Chief Operating Officer | Other | 250,000 | 0.00 | – |
| Jul 31, 2026 | Zagorsek Michael | Chief Operating Officer | Other | 750,000 | 0.00 | – |
The company
About the Company
SoundHound AI, Inc. provides independent voice artificial intelligence (AI) solutions that enables businesses across the automotive, TV, IoT, and customer service industries to deliver conversational experiences to customers in the United States, Korea, France, Japan, Germany, and internationally. The company offers Houndify platform, which provides a suite of Houndify tools to help brands build conversational voice assistants, such as Application Programming Interfaces (API) for text and voice queries, support for custom commands, extensive library of content domains, inclusive software development kit platforms, collaboration capabilities, diagnostic tools, and built-in analytics; SoundHound Chat AI, a voice assistant with integrated generative AI that integrates with knowledge domains, pulling real-time data, such as weather, sports, stocks, flight status, restaurants, and other data; and SoundHound Smart Answering, which offers customer establishments the option to build an easy to use custom AI-powered voice assistant. It also provides CaiNET software that uses machine learning to enhance how domains work together to handle complex queries; CaiLAN software that arbitrates responses, so users get answers from the right domain; Dynamic Interaction, a real-time multimodal customer service interface; Smart Ordering, which offers an easy-to-understand voice assistant for restaurants; automatic speech recognition; natural language understanding; wake words; custom domains; text-to-speech; Employee Assist; and edge and cloud connectivity, which includes embedded voice solutions. In addition, the company offers Amelia Platform, which builds AI agents for enterprises; Chat AI for Automotive; Dynamic Drive-Thru for GenAI; Voice Commerce, which connects drivers and merchants with Voice AI; Autonomics Platform; Custom Voice AI Solutions; Voice AI Platform; and SoundHound Music App. SoundHound AI, Inc. was founded in 2005 and is headquartered in Santa Clara, California.
- CEO Insider Trades (12 Mo.)
- selling own stock
- Employees
- 954
- Headquarters
- Santa Clara, CA
- Address
- 5400 Betsy Ross Drive, 95054 Santa Clara, United States
- Phone
- 408 441 3200
- Website
- soundhound.com
- IPO Date
- 04/28/2022
- ISIN
- US8361001071
Management
| Name | Title | Birth Year |
|---|---|---|
| Keyvan Mohajer | Co-Founder, CEO, President & Director | 1978 |
| James Hom | Co-Founder, Chief Product Officer & Director | 1984 |
| Seyed Majid Emami | Co-Founder, Chief Science Officer & Senior VP of Engineering | 1978 |
| Michael Zagorsek | Chief Operating Officer | 1976 |
| John Deneen Collins J.D. | Chief Financial Officer | 1983 |
| Timothy Stonehocker | Chief Technology Officer | 1982 |
| Shawnna DelHierro | Senior VP & Chief Information Officer | – |
| Scott Smith | Head of Investor Relations | – |
| Warren Heit J.D. | Senior VP of Legal & General Counsel | – |
| Amir Arbabi | Senior Vice President of Business Development | 1978 |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Filings
Company Filings (8-K)
An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).
- 09/04/2026 SOUNDHOUND AI, INC. (SOUN): Entry into a Material Definitive Agreement; Completion of Acquisition or Disposition of Assets; Unregistered Sales of Equity Securities; Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers; Regulation FD Disclosure; Other Events; Financial Statements and Exhibits SEC ↗
- 09/04/2026 SOUNDHOUND AI, INC. (SOUN): Other Events; Financial Statements and Exhibits SEC ↗
- 09/02/2026 SOUNDHOUND AI, INC. (SOUN): Unregistered Sales of Equity Securities SEC ↗
- 08/05/2026 SOUNDHOUND AI, INC. (SOUN): Results of Operations and Financial Condition; Financial Statements and Exhibits SEC ↗
- 07/24/2026 SOUNDHOUND AI, INC. (SOUN): Other Events SEC ↗
- 07/13/2026 SOUNDHOUND AI, INC. (SOUN): Financial Statements and Exhibits SEC ↗
Data as of: October 30, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.