The most talked about and market moving research calls around Wall Street are now in one place. Here are today's research calls that investors need to know, as compiled by The Fly.Top 5 Upgrades: B. Riley upgraded Snap (SNAP) to Buy from Neutral with an unchanged price target of $10 following the Q4 report. The firm sees early signs of progress on a number of Snap's key initiatives, including "sustained strong growth" in revenue from premium subscribers and traction of higher margin advertising formats. ...

Voice AI company ElevenLabs said today it raised $500 million in a new funding round led by Sequoia Capital, which was an investor in the startup’s last secondary round through a tender. Sequoia partner Andrew Reed is joining the company’s board. The startup is now valued at $11 billion, more than three times its valuation in its last round in January 2025. Earlier in the year, the Financial Times reported that the startup was looking to raise at that valuation. The company said that existing investor ...

Financial Data and Key Metrics Changes - Revenues for Q4 2025 were $62.6 million, a 1.7% increase from $61.6 million in Q4 2024. Full year 2025 revenues were $245.6 million, up 1.4% from $242.2 million in 2024 [8][10] - Services revenues for Q4 2025 were $34.6 million, accounting for 55.3% of total revenues, with a 1% increase year-over-year. Annual services revenues reached $130.7 million, a 0.4% increase from $130.2 million in 2024 [8][10] - GAAP gross margin for Q4 2025 was 65.6%, down from 66.2% in Q4 2024. Operating income for Q4 was $3.7 million, or 6% of revenues, compared to $4.1 million, or 6.7% of revenues in Q4 2024 [9][10] - Full year 2025 net income was $9 million, or $0.31 per diluted share, down from $15.3 million, or $0.15 per diluted share in 2024 [10][11] Business Line Data and Key Metrics Changes - The connectivity business accounted for approximately 93% of total revenue, maintaining a stable operating margin above 14% in 2025, with a long-term target of 16%-18% [18][19] - The Voice AI business generated about 7% of total revenue, growing from over $12 million in 2024 to nearly $17 million in 2025, representing a 35% year-over-year increase [19][30] - Annual recurring revenue from the combined live managed services and Voice AI business reached $79 million at the end of 2025, reflecting a 22% growth year-over-year [15][16] Market Data and Key Metrics Changes - Revenue by geographical region for Q4 2025: North America (47%), EMEA (35%), Asia Pacific (13%), and Central and Latin America (5%) [9] - The backlog for live services reached $75 million at the end of 2025, compared to $69 million at the end of 2024 [17] Company Strategy and Development Direction - The company aims to transition from a focus on connectivity solutions to an AI-first, Voice AI-led business application model, targeting significant growth in the Voice AI sector [15][19] - Continued investment in sales and marketing for Voice AI is expected to drive further growth, with a goal of reaching $50 million in revenue by 2028 [19][30] - The company plans to maintain revenue growth and margin expansion while strengthening its leadership in Voice AI-driven applications for UCaaS and CX markets [15][24] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery of the connectivity business and the growth trajectory of the Voice AI segment, with expectations of continued strong annual recurring revenue momentum [14][15] - The company anticipates revenues for 2026 to be in the range of $247 million to $255 million, with non-GAAP diluted earnings per share projected at $0.60 to $0.75 [13][24] Other Important Information - The company declared a cash dividend of $0.20 per share, totaling approximately $5.4 million, to be paid on March 6, 2026 [12] - The company ended 2025 with 981 employees, an increase from 946 at the end of 2024 [22] Q&A Session Summary Question: Is the 40%-50% annual growth for conversational AI intended to be a CAGR through 2028? - Management expects growth to come from both new customer acquisition and increased spending per customer, with significant investments in R&D for Voice AI [42][44] Question: How has the shift in market expectations around AI impacted pipeline visibility? - Management noted improved visibility and size of the pipeline as customers move from testing to broader adoption of voice AI products [46] Question: What impact from tariffs should be considered for 2026 financials? - Tariff impacts are expected to decrease from $2.7 million in 2025 to approximately $2.3 million in 2026, with gross margins anticipated to improve due to a shift towards software and services [47][49]

OR YEHUDA, Israel, Feb. 3, 2026 /PRNewswire/ -- Fourth Quarter and Full Year 2025 Highlights Details AudioCodes (NASDAQ: AUDC), a global leader in enterprise voice and VoiceAI business solutions, today announced its financial results for the fourth quarter and full year period ended December 31, 2025. Revenues for the fourth quarter of 2025 were $62.6 million compared to $61.6 million for the fourth quarter of 2024. Revenues were $245.6 million in 2025 compared to $242.2 million in 2024. EBITDA for the four ...

We came across a bullish thesis on SoundHound AI, Inc. on Stay Invested’s Substack by Denis Gorbunov. In this article, we will summarize the bulls’ thesis on SOUN. SoundHound AI, Inc.'s share was trading at $8.46 as of January 30th. 7 Best Private Equity Search Firms and Headhunters in America goodluz/Shutterstock.com SoundHound AI (SOUN) is a voice artificial intelligence company specializing in advanced speech recognition and conversational AI across customer service, in-vehicle voice assistants, rest ...

SoundHound AI (NASDAQ: SOUN), a developer of audio and speech recognition tools, grew rapidly in recent years as more companies launched their own AI-powered voice services. Its namesake app can identify songs from just a few seconds of recorded audio or a few hummed bars. Still, it generates most of its revenue from Houndify -- a developer platform for creating customized voice recognition apps that aren't tethered to big tech companies. SoundHound already serves automakers like Stellantis, quick-serve r ...

Core Viewpoint - Apple is positioned as a low-risk, high-reward investment compared to SoundHound AI, which has shown significant stock growth but may not be as sustainable in the long term [1][12]. Company Comparison - Apple and SoundHound AI operate in different segments; Apple focuses on consumer technology and services, while SoundHound targets B2B applications for voice AI [3]. - Apple is set to enhance its voice AI capabilities with an upgraded version of Siri, leveraging Google's advanced language model [4]. Market Position - The automotive sector is a key battleground, with SoundHound partnering with car manufacturers like Stellantis and Hyundai, while Apple has a broader integration with its CarPlay system [5]. - Apple can also compete in the restaurant sector by positioning its technology for mobile ordering, potentially overshadowing SoundHound's drive-through solutions [6]. Financial Performance - In the latest quarter, Apple reported revenue of $102.5 billion, significantly outpacing SoundHound's $42 million [9]. - SoundHound posted a net loss of $109.3 million, while Apple achieved a profit of $14.7 billion [9]. - Apple holds a cash position of approximately $54.7 billion, compared to SoundHound's $269 million [10]. Growth Metrics - SoundHound's year-over-year revenue growth of 68% in Q3 is notable, but Apple's growth rate is around 8% [10]. - SoundHound has no debt, while Apple carries a debt of $112.4 billion [10]. Investment Outlook - Despite SoundHound's impressive technology and growth, Apple is viewed as the better long-term investment due to its broader market opportunities and established presence [12][13]. - Apple's advancements in CarPlay and potential in the smart glasses market are expected to enhance its competitive edge [13].

Core Insights - Cadence Design Systems, Inc. (CDNS) has launched the sixth-generation Tensilica HiFi iQ DSP IP, enhancing capabilities for voice AI and immersive audio applications [1][9] - The HiFi iQ DSP offers significant performance improvements, including double the raw compute performance, up to eight times higher AI performance, and over 25% energy savings compared to the previous HiFi 5s DSP [2][9] Product Features - The HiFi iQ DSP is built on a new architecture designed to meet the computational and energy efficiency demands of modern SoCs in various applications, including home entertainment and automotive infotainment [1][3] - It introduces architectural enhancements such as improved auto-vectorization, support for FP8 and BF16 data formats, and increased energy efficiency, allowing advanced audio codecs to run more efficiently [4] - The DSP can execute small language models (SLMs) and large language models (LLMs) directly, functioning as an all-in-one AI processor for voice applications [5] Market Trends - The demand for higher performance and lower power consumption in voice interaction and AI-driven audio is increasing, driven by trends such as immersive audio formats and sophisticated natural language processing [2][3] - Cadence's expertise in audio DSP and its new instruction-set-optimized architecture are positioned to address the needs of AI-enhanced audio workloads [3] Strategic Positioning - Cadence is well-positioned to benefit from the rising demand for AI-driven solutions, supported by strong customer spending on AI initiatives and robust design activity [7] - The company’s recent product launches, including the Cerebrus AI Studio, are expected to sustain momentum in its AI portfolio [7] - Cadence's inorganic strategy aligns with its Intelligent System Design vision, enhancing its competitive edge in the market [7]

Funding and Valuation - Deepgram has secured $130 million in Series C funding, raising its valuation to $1.3 billion [1] - The investment round was led by AVP, with participation from new investors such as Alumni Ventures, Princeville Capital, and Citi Ventures, alongside existing investors like Tiger Global and BlackRock [1] Technology and Applications - Deepgram provides AI models and infrastructure for enterprises and developers to create custom voice agents capable of managing real-time, context-aware conversations at scale [2] - The technology supports over 50 languages and is utilized by more than 1,300 organizations globally, including notable clients like NASA and Amazon Web Services [3] Strategic Expansion - Deepgram has announced the acquisition of OfOne, a voice AI platform for restaurant drive-thrus, to enhance its services in the quick-service restaurant sector [4][5] - The company aims to use the Series C proceeds to expand its international presence, launch new models, and pursue further acquisitions [5] Product Offerings - Deepgram's product suite includes speech-to-text models, text-to-speech systems, conversational speech recognition technology, APIs for enterprise conversational AI deployment, and options for domain-specific model customization [6]

Core Viewpoint - SoundHound AI, Inc. is recognized as a promising player in the Voice AI sector, with analysts projecting sustained revenue growth and a target price of $26.00 per share [1][5]. Group 1: Product Demonstrations and Innovations - SoundHound showcased its Vision AI technology at CES 2026, integrating real-time camera-based visual perception with its established voice AI capabilities [2]. - The Agentic+ platform was highlighted, allowing businesses to deploy their own agents quickly, demonstrating the company's innovative approach [3]. Group 2: Market Interest and Sales Performance - There is significant interest from various sectors, including automotive and services, in SoundHound's products, indicating strong market demand [4]. - The company is experiencing favorable traction in both direct and channel sales efforts, contributing to its growth strategy [4]. Group 3: Financial Outlook and Strategy - SoundHound aims to achieve breakeven on an adjusted EBITDA basis by the end of 2026, prioritizing growth over immediate profitability [5]. - The company holds a strong balance sheet with $269.0 million in cash and no debt, providing flexibility to pursue growth opportunities [5]. - Management's focus on operating costs and revenue growth suggests a willingness to accept lower margins in the short term to capitalize on market opportunities [5].