SOUNDHOUND AI, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share and per share data) | | | March 31, | | December 31, | | --- | --- | --- | --- | --- | | | | 2025 | | 2024 | | | | (Unaudited) | | | | ASSETS Current assets: | | | | | | Cash and cash equivalents | $ | 245,809 | $ | 198,240 | | Accounts receivable, net of allowances of $1,538 and $726 as of March 31, 2025 and December 31, 2024, respectively | | 20,177 | | 23,159 | | Contract assets and unbilled receivable, net | | 21,419 | ...

Core Viewpoint - A class action securities lawsuit has been filed against SoundHound AI, Inc. alleging securities fraud that affected investors between May 10, 2024, and March 3, 2025 [1][2]. Group 1: Allegations of Fraud - The lawsuit claims that SoundHound AI, Inc. made false statements regarding material weaknesses in its internal controls over financial reporting, which impaired its ability to account for corporate acquisitions [2]. - It is alleged that the company overstated its remediation efforts concerning these material weaknesses, leading to inflated reported goodwill following the Amelia Acquisition [2]. - The complaint indicates that SoundHound AI, Inc. would likely require additional time and resources to account for the SYNQ3 and Amelia Acquisitions due to these weaknesses [2]. - The lawsuit also suggests that these issues increased the risk of the company being unable to file certain financial reports with the SEC in a timely manner [2]. - As a result, the company's public statements were deemed materially false and misleading throughout the relevant period [2]. Group 2: Legal Process and Participation - Investors who suffered losses during the specified timeframe have until May 27, 2025, to request appointment as lead plaintiff, although participation in any recovery does not require this role [3]. - Class members may be entitled to compensation without incurring any out-of-pocket costs or fees, with no obligation to participate [3]. Group 3: Firm Background - Levi & Korsinsky, LLP has a history of securing hundreds of millions of dollars for shareholders and has been recognized as one of the top securities litigation firms in the United States for seven consecutive years [4].

Core Viewpoint - A securities class action lawsuit has been filed against SoundHound AI, Inc. for allegedly making false and misleading statements regarding its financial reporting and internal controls during the Class Period from May 10, 2024, to March 3, 2025 [1]. Group 1: Allegations Against SoundHound - The complaint claims that SoundHound had material weaknesses in its internal controls over financial reporting, which affected its ability to account for corporate acquisitions [3]. - It is alleged that SoundHound overstated its remediation efforts regarding these internal control weaknesses [3]. - The reported goodwill from the acquisition of Amelia Holdings, Inc. in August 2024 was inflated and would require correction due to these weaknesses [3]. - SoundHound is expected to incur additional time and costs to properly account for its acquisitions, including Amelia Holdings, Inc. and SYNQ3 [3]. - The issues raised increased the risk of SoundHound failing to file certain financial reports with the SEC in a timely manner [3]. - Overall, the public statements made by SoundHound were deemed materially false and misleading throughout the relevant period [3]. Group 2: Legal Process and Participation - Investors in SoundHound have until May 27, 2025, to seek appointment as a lead plaintiff representative in the class action [4]. - A lead plaintiff acts on behalf of all class members and is typically the investor or group of investors with the largest financial interest [4]. - The decision to serve as a lead plaintiff does not affect an investor's ability to share in any recovery from the lawsuit [4].

NEW YORK, May 8, 2025 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of SoundHound AI, Inc. (NASDAQ: SOUN).Shareholders who purchased shares of SOUN during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/soundhound-ai-inc-loss-submission-form/?id=147310&from=4CLASS PERIOD: May 10, 2024 to M ...

Core Viewpoint - The SoundHound AI, Inc. is facing a class action lawsuit due to alleged violations of the Securities Exchange Act of 1934, with claims of misleading statements and material weaknesses in financial reporting controls [1][3]. Group 1: Class Action Lawsuit Details - The class action lawsuit is titled Liles v. SoundHound AI, Inc., and covers purchasers of SoundHound securities from May 10, 2024, to March 3, 2025 [1]. - Investors have until May 27, 2025, to seek appointment as lead plaintiff in the lawsuit [1]. - The lawsuit alleges that SoundHound's executives made false statements regarding the company's internal controls and financial reporting [3]. Group 2: Allegations Against SoundHound - The lawsuit claims that SoundHound had material weaknesses in its internal controls over financial reporting, affecting its ability to account for acquisitions [3]. - It is alleged that SoundHound overstated its remediation efforts regarding these weaknesses, leading to inflated goodwill from its acquisition of Amelia Holdings, Inc. [3]. - The company is also accused of requiring additional time and resources to account for its acquisitions of SYNQ3 and Amelia, increasing the risk of delayed financial report filings [3][4]. Group 3: Impact on Stock Price - Following the disclosure on March 4, 2025, regarding the inability to timely file its annual report for 2024, SoundHound's stock price fell nearly 6% [4]. Group 4: Legal Representation - Robbins Geller Rudman & Dowd LLP is representing investors in this class action lawsuit and has a strong track record in securities fraud litigation [6].

Core Viewpoint - SoundHound AI is experiencing significant revenue growth driven by its voice AI platform, with expectations for continued improvement in both top and bottom lines in 2025, despite a history of earnings misses [2][4][18]. Financial Performance - In the last reported quarter, SoundHound recorded a loss of $0.69 per share, wider than the $0.06 loss from the previous year, and below the Zacks Consensus Estimate by 527.3% [2][3]. - Revenue surged 101.5% year over year to $34.5 million, exceeding the consensus estimate by 3.1% [2]. - The Zacks Consensus Estimate for the upcoming first quarter is a loss of $0.07 per share, unchanged over the past 60 days, with expected revenues of $30.2 million, indicating a 160.6% year-over-year increase [4][5]. Growth Drivers - SoundHound's growth is supported by key customer additions, broader partnerships, and advancements in generative AI, particularly in sectors like quick-service restaurants and automotive [2][9][10]. - The company serves over 10,000 restaurant locations, with significant partnerships in the restaurant industry, enhancing recurring revenue opportunities [9]. - Recent enterprise contracts in healthcare, energy, and government sectors are expected to contribute to revenue growth, with a cumulative bookings backlog exceeding $1.2 billion, up 75% year over year [10][12]. Partnerships and Technological Advancements - Collaborations with major companies like NVIDIA and Lucid Group are enhancing SoundHound's voice AI capabilities, particularly in automotive applications [11][19]. - The integration of NVIDIA AI Enterprise tools is expected to improve processing speeds and user interactions in voice technology [11]. Market Performance - SOUN shares have increased by 23.6% in the past month, outperforming the broader Zacks Computer & Technology sector and the Zacks Computers - IT Services industry [13]. - Despite being considered overvalued based on traditional metrics, the stock's recent performance suggests optimism in the market [16][20]. Analyst Sentiment - Analysts remain positive on SOUN stock, with three out of six rating it a "Strong Buy," and an average price target of $13.92, indicating a potential upside of 48.2% from its latest closing price [19].

Core Insights - SoundHound AI is set to release a significant financial update that is highly anticipated by investors [1] Company Summary - The stock prices referenced were from the afternoon of May 1, 2025, indicating a specific timeframe for the financial update [1] - The video discussing this update was published on May 3, 2025, suggesting that the information is timely and relevant for current investors [1]

Core Viewpoint - SoundHound AI is experiencing a significant increase in growth expectations, with analysts projecting nearly double the revenue growth compared to last year, which was initially estimated at 30% [1][4]. Company Summary - SoundHound AI's revenue for the previous year was $85 million, and it is positioned to benefit from the expanding voice AI market, which is expected to exceed $40 billion by 2032 [2]. - The company's shares are currently trading at 36.5 times trailing sales, but analysts predict a sales growth of approximately 96% this year, with a more modest growth of nearly 20% expected next year [4][6]. - Over the next five to ten years, SoundHound AI has the potential for double-digit sales growth, with some periods possibly reaching triple-digit growth [6]. Industry Summary - The voice AI market is anticipated to grow at around 30% annually, which could provide a favorable environment for SoundHound AI's growth trajectory [4]. - The current valuation of SoundHound AI, when considering future growth rates, appears more reasonable, trading at 21.9 times forward sales based on expected growth over the next 12 months [6].

Core Viewpoint - A class action securities lawsuit has been filed against SoundHound AI, Inc. for alleged securities fraud affecting investors between May 10, 2024, and March 3, 2025 [1][2]. Group 1: Lawsuit Details - The lawsuit claims that SoundHound AI, Inc. made false statements regarding its internal controls over financial reporting, which impaired its ability to account for corporate acquisitions [2]. - It is alleged that the company overstated its remediation efforts concerning material weaknesses in its internal controls [2]. - The reported goodwill following the Amelia Acquisition is claimed to be inflated and in need of correction due to these material weaknesses [2]. - The lawsuit indicates that SoundHound AI, Inc. may require additional time and resources to account for the SYNQ3 and Amelia Acquisitions [2]. - There is an increased risk that the company may fail to file certain financial reports with the SEC in a timely manner [2]. - The public statements made by the company are asserted to be materially false and misleading throughout the relevant period [2]. Group 2: Next Steps for Investors - Investors who suffered losses during the specified timeframe have until May 27, 2025, to request to be appointed as lead plaintiff [3]. - Participation in the lawsuit does not require serving as a lead plaintiff to share in any potential recovery [3]. - Class members may be entitled to compensation without incurring any out-of-pocket costs or fees [3]. Group 3: Law Firm Background - Levi & Korsinsky, LLP has a history of securing hundreds of millions of dollars for shareholders and has extensive expertise in complex securities litigation [4]. - The firm has been recognized in ISS Securities Class Action Services' Top 50 Report for seven consecutive years as one of the leading securities litigation firms in the United States [4].

NEW YORK, May 2, 2025 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in SoundHound AI, Inc. ("SoundHound AI, Inc." or the "Company") (NASDAQ: SOUN) of a class action securities lawsuit.CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of SoundHound AI, Inc. investors who were adversely affected by alleged securities fraud between May 10, 2024 and March 3, 2025. Follow the link below to get more information and be contacted by a member of our team:https://zlk.com/pslra-1/soundhound-ai ...