Forget FOMO: SoundHound AI’s Best Days Are Still Ahead for Bold Investors

InvestorPlace03-22

SoundHound AI’s (SOUN) stock is up 300% in 2024. The company’s balance sheet is much stronger than a year ago. It’s got a great niche business in AI.Source: rafapress / Shutterstock.comIt’s not ...

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Dion N
03-22
Dion N
The keyword here is "niche"

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href=https://investorplace.com/2024/03/forget-fomo-soundhound-ais-best-days-are-still-ahead-for-bold-investors/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SoundHound AI’s (SOUN) stock is up 300% in 2024. The company’s balance sheet is much stronger than a year ago. It’s got a great niche business in AI.Source: rafapress / Shutterstock.comIt’s not ...</p>\n\n<a href=\"https://investorplace.com/2024/03/forget-fomo-soundhound-ais-best-days-are-still-ahead-for-bold-investors/\">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":"IE00BFSS7M15.SGD","symbol_name":"Janus Henderson Balanced A Acc 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surprising that SoundHound AI (NASDAQ:SOUN) stock is having a good year.With AI in your corporate name and Nvidia (NASDAQ:NVDA) owning 1.7 million shares, SOUN stock was bound to attract more than a little attention from investors in 2024.SoundHound provides proprietary voice AI technology that improves the customer experience.For example, the Tokyo Metropolitan Government installed a transparent translation screen at a subway station to help answer questions from foreigners traveling on the subway. The screen can translate 12 languages, including English.In this instance, a rider would speak to a speaker, translating the person’s question into Japanese for the station employee visible on the other side of the screen.They would answer in Japanese, and the screen on the rider’s side would repeat the answer in that person’s language. It’s a form of AI.However, with SoundHound, you wouldn’t even need an employee. The person would ask, and the machine would provide an answer based on machine learning.Up nearly 294% in 2024, there could be more gains ahead. Here’s why. Profitability and SOUN StockThere are so many use cases for SounHound’s technology it wouldn’t surprise me if it doubled its revenue in 2024.In Q4 2023, its revenue was just $17.1 million, 80% higher than a year earlier and 28.6% higher sequentially than in Q3 2023, while in 2023, it was $45.9 million, 47% higher year-over-year.If SoundHound’s revenue increased 45% annually for the next seven years, it would hit $1 billion. By then, it should be massively profitable. As it is, SoundHound’s adjusted earnings before interest, taxes, depreciation and amortization loss in 2023 was $35.9 million, less than half what it was a year ago. The company’s guidance for 2024 calls for revenue to exceed $100 million with positive EBITDA. And we’re off to the races. SOUD Stock Improved in 2023SoundHound entered 2023 with less than $10 million in cash and cash equivalents on its balance sheet.In April 2023, it obtained a senior secured term loan credit agreement for $100 million, with an additional $25 million available on request. It used some of the proceeds to pay down $30 million on its credit facility. With funding and cost-cutting measures, including a 40% staff reduction, it ended 2023 with almost $110 million in cash. More importantly, it was in a much stronger financial situation.In December 2023, it announced that it would buy Synq3, a leading provider of voice AI and other technology solutions to the restaurant industry. Synq3’s national restaurant customers include Chipotle and Five Guys. To make the acquisition, it paid $5 million in cash and issued 8.97 million of its SOUN stock.In addition, revenue targets for further payouts in 2024, 2025, and 2026 were set. If all targets are met, it could pay approximately $29 million for the company. Together, the two companies will have their AI voice solutions in over 10,000 restaurant locations, and it will cost the company very little in cash.Wise move. It’s a Great NicheServing restaurants and other high-traffic businesses is an excellent niche because the operators know that the customer experience is everything.If SoundHound AI voice technology can answer customer questions over the phone without taking restaurant staff away from operations, it can better serve the customers in the location and over the phone. As InvestorPlace’s David Moadel recently pointed out, SoundHound has launched an “AI voice assistant” that will be integrated with ChatGPT into Stellantis DS vehicles in Europe starting this month. “This new technology ultimately allows drivers and passengers to use hands-free voice control to unlock a vast range of information and updates — whether that’s for planning a trip, opening the sunroof, asking for the sports scores, making a call, or accessing parking information from their destination,” stated SoundHound’s Feb. 21 news release. The big question is whether Nvidia will buy SoundHound before it gets bigger. The price it would pay today would be much less than a year or two from now. It’s not a slam dunk, so I wouldn’t use your retirement fund to buy some SOUN stock, but aggressive investors shouldn’t fear they’ve missed the boat. It’s a buy for aggressive investors only.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[{"id":286968761499760,"gmtCreate":1711083077267,"gmtModify":1711083080944,"author":{"id":"4095269946437450","authorId":"4095269946437450","authorIdStr":"4095269946437450","name":"Dion N","avatar":"https://community-static.tradeup.com/news/cc22bc90d2dd039bb8d24cba0a4d72c8","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":2,"crmLevelSwitch":0,"idStr":"4095269946437450"},"htmlText":"The keyword here is \"niche\"","listText":"The keyword here is \"niche\"","text":"The keyword here is \"niche\"","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/286968761499760","repostId":2421954094,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":5,"commentSize":1,"repostSize":1,"favoriteSize":1,"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":"4.28.1","shortVersion":"4.28.1","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/2421954094"}