SoundHound AI Inc. (NASDAQ:SOUN) shares were mostly flat in Thursday's extended trading after the company released its fourth-quarter earnings report.
Here's a look at the details from the quarter.
The Details: SoundHound AI reported quarterly losses of two cents per share, in line with the consensus estimate.
Quarterly revenue came in at $55.06 million, which beat the Street estimate of $53.99 million and was up from $34.54 million in the same period last year.
SoundHound reported the following full-year highlights:
- Full year reported revenue was $168.9 million, an increase of 99% year-over-year
- Full year non-GAAP gross margin was 58%
- Full year non-GAAP net loss was $53.9 million
- Full year adjusted EBITDA was a loss of $58.4 million
- Full year non-GAAP earnings per share were a loss of 13 cents
“As traditional software faces massive AI disruption, businesses are looking to partner with AI natives that can help them achieve success in a new era. This is creating strong tailwinds for SoundHound,” said Keyvan Mohajer, CEO of SoundHound AI.
“Our results speak for themselves. All key profit metrics were up and in the last quarter we closed a record number of customer deals as we capitalized on the surge in demand for enterprise-grade AI,” Mohajer added.
SOUN Stock Price: According to data from Benzinga Pro, SoundHound stock rose 0.23% to $9 in Thursday's extended trading.
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