The Company
SoundHound AI, Inc. builds voice and conversational AI: speech-to-meaning, NLU, and multi-modal AI agents that power voice assistants, automated call/ordering systems and enterprise AI agents across automotive, restaurants, financial services, healthcare and retail. Its product set includes platform licensing (Houndify), enterprise agent platform (Amelia), and vertical solutions such as Smart Answering, Smart Ordering and Dynamic Drive-Thru.
Financials (latest reported)
- Q2 2025 revenue: $42.7 million (up 217% year-over-year). SoundHound AI
- FY 2025 revenue guidance (raised): $160–$178 million. SoundHound AI
- Q2 2025 GAAP net loss: $(74.7)M; non-GAAP net loss: $(11.9)M; adjusted EBITDA loss $(14.3)M. GAAP gross margin 39.0% (non-GAAP 58.4%). SoundHound AI
- Liquidity: cash & cash equivalents ~$230M and no debt (as of June 30, 2025). SoundHound AI
(Notes: GAAP figures include sizable non-cash fair-value impacts tied to contingent acquisition liabilities from recent acquisitions; the company reports both GAAP and non-GAAP reconciliations.) SoundHound AI
TAM / CAGR
- Primary market: Speech & voice recognition / conversational AI. One recent market estimate projects the global speech & voice recognition market at roughly $19.1 billion in 2025, expanding at a ~23% CAGR toward the early 2030s . Use of voice AI in automotive, contact centers and restaurants is a major demand driver.
Products
| Product / Service (what it does) | Representative product names | Estimated % of revenue (2025, approx.) |
|---|---|---|
| Automotive voice & in-vehicle assistants (OEM integrations, voice commerce) | Voice assistants integrated with OEMs, Chat AI for cars | ~45–55% (largest single sector; major new OEM wins in China & NA) |
| Restaurants (ordering, drive-thru automation, dynamic drive-thru) | Smart Ordering, Dynamic Drive-Thru, Smart Answering | ~15–25% (rapid recent wins / cross-sells; expanding fast) |
| Enterprise AI agents & contact-center automation (Amelia platform) | Amelia (AI agents), Smart Answering for enterprises | ~10–20% |
| Platform licensing / Houndify & developer licensing | Houndify, API licensing to device makers | ~5–15% |
| Other (retail, healthcare, financial services vertical projects, partnerships) | Custom integrations, Autonomics ops platform | ~<5–10% |
Business Model
- B2B software / SaaS + licensing + services. Revenue derives from platform licensing (API/SDK), multi-year OEM contracts (automotive), SaaS/platform fees for enterprise agent deployments, transaction or usage fees for voice commerce pilots, and professional services/implementation.
- Recent strategy: grow recurring licensing and enterprise agent revenues through acquisitions and cross-selling (e.g., Amelia acquisition) to raise customer lifetime value and diversify beyond automotive.
Customers
- Mix of OEMs (automotive manufacturers), large restaurant chains (chipotle, MOD Pizza, Applebee’s|IHOP, Red Robin, Peter Piper Pizza, etc. named in company releases), financial institutions (7 of top 10 global banks are customers per the company), healthcare systems and retail/fitness chains. No single customer represented >10% of revenue in recent company commentary.
Competitors
- Amazon (Alexa / Alexa Custom Assistant / AWS voice services) — direct competitor for OEM and branded assistant integrations and voice commerce in cars and devices.
- Google (Google Assistant / Dialogflow / Vertex AI conversational products) — competing conversational AI and enterprise dialog tools used by OEMs and enterprises.
- Microsoft / Nuance (Azure Cognitive Services, Nuance products) — Microsoft’s speech/AI stack and Nuance’s entrenched enterprise/healthcare voice offerings compete for enterprise and healthcare automation deals.
(Other meaningful competitors include Apple/Siri in consumer devices and specialist vendors in contact-center automation; the competitive set differs by vertical — automotive vs. restaurants vs. healthcare — and by on-device vs cloud approaches.)
Founding History
- SoundHound began as a music recognition app and company (SoundHound Inc.), later pivoting and investing in voice-recognition and conversational AI technologies. The modern public company (SoundHound AI, Inc.) completed a SPAC/business combination and subsequent acquisitions (including Amelia and SYNQ3-related assets) to expand into enterprise AI agents and broaden its vertical footprint (restaurants, contact centers, automotive). Founders and early leadership created the Hound/Houndify technology and have since focused on scaling B2B voice AI.
- Keyvan Mohajer is currently the Co-Founder and Chief Executive Officer of SoundHound AI. He has served as the company’s CEO since its early founding days—sources note he’s held the title since around December 2004.
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