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Key Facts on SoundHound AI
SoundHound AI (NASDAQ: SOUN) reported a 68% year-over-year revenue increase to $42 million in Q3 2023. The company raised its 2025 revenue outlook to between $165 million and $180 million, slightly up from the previous forecast of $165 million to $178 million. Recently, several financial services firms expanded their contracts with SoundHound, and the company also signed agreements with a regional hospital and multiple insurance companies globally.
Despite a significant sell-off leading to a 50% drop from its all-time high in October, SoundHound’s stock is now valued at about 31 times sales, down from nearly 60 times previously. While the company’s growth in audio recognition technology shows promise, analysts express concern over its high operating loss margins, indicating challenges in achieving profitability.
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