SOUNDHOUND AI INC Stock Price, News & Analysis

SoundHound AI (Nasdaq: SOUN) has achieved recognition as a Leader in the 2024 Frost Radar™: Enterprise Conversational AI in Healthcare for its Amelia Platform. The healthcare conversational AI market is projected to reach $2.34 billion by 2027, growing at a 17.2% CAGR.

The company's platform leverages natural language processing, understanding, and fine-tuned large language models to enhance patient engagement and streamline healthcare operations. Key features include appointment scheduling, pre-registration, medication refills, and location services across multiple channels. The platform also provides IT support and help desk services for healthcare employees.

Following SoundHound's acquisition of Amelia, the company has positioned itself among the largest publicly traded conversational AI companies, combining advanced voice AI capabilities with Amelia's enterprise platform to address complex healthcare use cases.

SoundHound AI (Nasdaq: SOUN) has announced a partnership with Church's Texas Chicken to implement its voice AI-powered drive-thru ordering solution. The Dynamic Drive-Thru system provides instant audiovisual feedback and processes natural verbal commands, designed to streamline ordering and reduce wait times.

The technology can handle up to 90% of orders without human intervention, allowing restaurant staff to focus on order fulfillment and customer service. The system features continuous audiovisual feedback, ignores off-topic speech for improved accuracy, and maintains the option for customers to speak with staff if preferred.

SoundHound AI (Nasdaq: SOUN) has announced the deployment of its voice AI Smart Ordering system across all 130 Torchy's Tacos locations. The AI system has been trained on Torchy's complete menu and can handle multiple calls simultaneously, process customized orders, and answer common questions about menu items, specials, store hours, and allergen information.

The system enables natural voice ordering and manages 100% of incoming calls, allowing staff to focus on food preparation and in-store service. According to SoundHound's consumer study, nearly 80% of regular U.S. diners expect AI voice assistants to handle most food ordering in the coming years. The company's voice AI solutions are currently operating in over 10,000 restaurant locations and have processed hundreds of millions of dollars in food orders through over 100 million customer interactions.

SoundHound AI (Nasdaq: SOUN), a voice artificial intelligence company, announced its participation in two upcoming investor conferences. CFO Nitesh Sharan will present at the UBS Global Technology and AI Conference in Scottsdale on December 4 at 3:15pm PT. Both CEO Keyvan Mohajer and CFO Sharan will present at the Barclays Annual Global Technology Conference in San Francisco on December 12 at 9:15am PT. Webcasts will be available on SoundHound's investor relations website.

SoundHound AI (Nasdaq: SOUN) and Apivia Courtage have achieved significant results in their AI implementation partnership. SoundHound's Amelia AI Agents have handled over 100,000 customer calls and reduced inbound queries to human teams by nearly 20% in under a year. The AI agents, deployed since January 2023, primarily handle medical expense reimbursement queries and insurance guarantee information.

Apivia Courtage, part of AEMA Group with 11 million policyholders and €15.6 billion in revenue, reports improved workplace atmosphere and employee productivity. The AI technology manages over 1,000 daily conversations related to claims and policies, allowing human teams to focus on higher-value tasks.

SoundHound AI (Nasdaq: SOUN) has expanded its voice AI technology to Kia vehicles in India, featuring Hindi language integration. The system has been launched for the 2025 Kia Carnival and EV9 models, targeting India's 500+ million Hindi speakers. The technology will expand to include 10 additional regional Indian languages. Kia Connect platform integrates SoundHound's AI-powered voice assistant, capable of real-time conversation interpretation and complex queries using proprietary Speech-to-Meaning® and Deep Meaning Understanding® technologies. Features include navigation, calls, weather updates, and vehicle controls like temperature and door locks.

SoundHound AI reported record Q3 2024 revenue of $25.1 million, up 89% year-over-year. The company significantly improved customer diversification, reducing largest customer concentration from 72% to 12%, with balanced revenue across automotive, restaurants, financial services, healthcare and insurance sectors (5-25% each). GAAP gross margin was 49%, with a net loss of $21.8 million. The company raised its full-year 2024 revenue outlook to $82-85 million and 2025 outlook to $155-175 million. SoundHound expanded its AI solutions across multiple verticals, signing deals with major QSR brands and automotive manufacturers while completing the acquisition of Amelia.

SoundHound AI (Nasdaq: SOUN) has announced a significant milestone in its AI phone ordering technology, processing over 100 million customer interactions and hundreds of millions of dollars in food orders for restaurants across the U.S. The company's Smart Ordering AI service is utilized by major brands including Chipotle, Jersey Mike's, and Applebee's, serving over ten thousand restaurant locations. The system handles carryout, curbside, and delivery orders, processes payments, manages reorders, and integrates with point of sale and loyalty systems. Following its recent acquisition of Amelia, SoundHound has expanded its capabilities to include IT support and guest relations services.

SoundHound AI (Nasdaq: SOUN), a voice artificial intelligence company, announced it will release its 2024 third quarter financial results on Tuesday, November 12, 2024, after market close. The company will hold a conference call and webcast at 2:00 p.m. PT / 5:00 p.m. ET on the same day, hosted by Co-Founder and CEO Keyvan Mohajer and CFO Nitesh Sharan. A live audio webcast will be available at investors.soundhound.com, with a replay accessible at the same location.