Stock Track | SoundHound AI Soars 6.52% on Diversification Hopes Despite Ongoing Losses

Stock Track11-21 22:36

SoundHound AI Inc (SOUN) stock surged 6.52% in pre-market trading on Thursday, as the voice recognition and artificial intelligence company showed signs of diversifying its revenue streams and customer base through recent acquisitions.

In its latest quarterly report, SoundHound's revenue grew by an impressive 89% year-over-year, primarily driven by the acquisitions of AI companies Amelia and SYNQ3. These acquisitions helped the company reduce its reliance on the automotive sector, which previously accounted for 90% of its revenue.

However, SoundHound's rapid growth came at a cost, with operating losses more than doubling compared to the same period last year. The company's cash burn rate also remains a concern, as it burned through $75.8 million in the past nine months and had $136.4 million in cash reserves at the end of the quarter.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1195227890?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-11-21 22:36","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1195227890","market":"us","top_or_hot":-1,"title":"Stock Track | SoundHound AI Soars 6.52% on Diversification Hopes Despite Ongoing Losses","media":"Stock Track","content":"<p>SoundHound AI Inc (SOUN) stock surged 6.52% in pre-market trading on Thursday, as the voice recognition and artificial intelligence company showed signs of diversifying its revenue streams and customer base through recent acquisitions.</p>\n\n<p>In its latest quarterly report, SoundHound's revenue grew by an impressive 89% year-over-year, primarily driven by the acquisitions of AI companies Amelia and SYNQ3. These acquisitions helped the company reduce its reliance on the automotive sector, which previously accounted for 90% of its revenue.</p>\n\n<p>However, SoundHound's rapid growth came at a cost, with operating losses more than doubling compared to the same period last year. The company's cash burn rate also remains a concern, as it burned through $75.8 million in the past nine months and had $136.4 million in cash reserves at the end of the quarter.</p>","source":"ai_movement_en","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stock Track | SoundHound AI Soars 6.52% on Diversification Hopes Despite Ongoing Losses</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStock Track | SoundHound AI Soars 6.52% on Diversification Hopes Despite Ongoing Losses\n</h2>\n\n<h4 class=\"meta\">\n\n2024-11-21 22:36 北京时间&nbsp;&nbsp;&nbsp;<strong>Stock Track</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SoundHound AI Inc (SOUN) stock surged 6.52% in pre-market trading on Thursday, as the voice recognition and artificial intelligence company showed signs of diversifying its revenue streams and ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SOUN","symbol_name":"SoundHound AI Inc","start_time":0,"source_url":"","article_id":"1195227890","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1195227890","pubTimestamp":1732199796,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"SoundHound AI Inc  stock surged 6.52% in pre-market trading on Thursday, as the voice recognition and artificial intelligence company showed signs of diversifying its revenue streams and customer base through recent acquisitions.In its latest quarterly report, SoundHound's revenue grew by an impressive 89% year-over-year, primarily driven by the acquisitions of AI companies Amelia and SYNQ3. These acquisitions helped the company reduce its reliance on the automotive sector, which previously acco","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"SOUN":"SoundHound AI Inc"},"translate_title":"尽管持续亏损，SoundHound AI仍因多元化希望而飙升6.52%","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SOUN":1},"content_text":"SoundHound AI Inc (SOUN) stock surged 6.52% in pre-market trading on Thursday, as the voice recognition and artificial intelligence company showed signs of diversifying its revenue streams and customer base through recent acquisitions.\nIn its latest quarterly report, SoundHound's revenue grew by an impressive 89% year-over-year, primarily driven by the acquisitions of AI companies Amelia and SYNQ3. These acquisitions helped the company reduce its reliance on the automotive sector, which previously accounted for 90% of its revenue.\nHowever, SoundHound's rapid growth came at a cost, with operating losses more than doubling compared to the same period last year. The company's cash burn rate also remains a concern, as it burned through $75.8 million in the past nine months and had $136.4 million in cash reserves at the end of the quarter.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"movement","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":2,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1195227890"}