SoundHound AI, a provider of conversational voice AI technology, late Thursday delivered mixed results for the first quarter. SoundHound stock fell in extended trading.
The Santa Clara, Calif.-based company lost an adjusted 6 cents a share on sales of $29.1 million in the March quarter. Analysts polled by FactSet had expected SoundHound to lose 9 cents a share on sales of $30.4 million. In the year-earlier period, SoundHound lost an adjusted 7 cents a share on revenue of $11.6 million.
Also, SoundHound reaffirmed its full-year revenue outlook of $157 million to $177 million. The midpoint of $167 million would represent growth of 97% over 2024. Last year, SoundHound's revenue increased 85% to $84.7 million.
"SoundHound continues to extend its reach and create new possibilities for real-world AI applications," Chief Executive Keyvan Mohajer said in a news release. "The release of our complete AI agent platform delivers full, voice-enabled Agentic AI for customers across all industries."
SoundHound noted that no customer accounted for more than 10% of its revenue in Q1. That shows its diversified customer base, the company said.
Earlier Thursday, SoundHound revealed Amelia 7.0, the latest version of its voice-enabled AI agent.
SoundHound's technology is used by companies to interact with customers in call centers and restaurant drive-thrus. Its voice-response technology also can be found in cars and televisions.
SoundHound Stock Retreats After Report
In after-hours trading on the stock market today, SoundHound stock slid more than 4% to 9.26. During the regular session Thursday, SoundHound rose 6.2% to close at 9.74.
Late Wednesday, SoundHound rival Cerence beat estimates for its fiscal second quarter. The Burlington, Mass.-based company earned 46 cents a share on sales of $78 million in the quarter ended March 31. In the year-earlier period, it lost 9 cents a share on sales of $67.8 million.
But Cerence stock fell Thursday. It ended the regular session down 12.2% to 8.78.
Cerence's fortunes are tied to the automotive market. Its voice technology shipped in 51% of automobiles produced worldwide in the last 12 months.
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