SOUNDHOUND AI INC Stock Price, News & Analysis

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.

SoundHound AI (Nasdaq: SOUN) released results from an independent survey of U.S. vehicle owners, revealing high interest in voice generative AI capabilities for in-car use. Key findings include:

- 76% of U.S. drivers are likely to use voice generative AI in their cars if available, up 52% from last year
- 81% of prospective car buyers would choose a vehicle with AI features over one without
- 74% of respondents would pay a fee or accept ads for access to these features

The survey explored interest in AI-powered features like in-vehicle food ordering (71% interested), vehicle management (85% interested), and communication assistance (76% interested). SoundHound AI's COO noted that early deployments have seen voice assistant usage increase up to five-fold compared to traditional systems.

SoundHound AI, Inc. (Nasdaq: SOUN) has released results from an independent survey of car owners in the UK, France, and Germany. The study reveals that 79% of drivers across these countries are likely to use voice generative AI capabilities in their vehicles if available. Additionally, 83% of prospective car buyers in these markets would prefer to purchase or lease a vehicle with AI features over one without.

The survey highlights strong interest in AI-powered voice assistants for various in-vehicle applications, including:

• Food ordering while driving (66% average interest)
• Vehicle management and maintenance assistance (85% average interest)
• Communication and information summarization (78% average interest)

SoundHound AI was the first to launch a vehicle assistant with generative AI capabilities last year, now in production with multiple automakers globally.

SoundHound AI (Nasdaq: SOUN) has announced the integration of its SoundHound Chat AI, a voice assistant with Generative AI, into Lancia Ypsilon vehicles across seven European countries. The assistant is part of Lancia's S.A.L.A. infotainment system, activated by saying "Hey SALA" or pressing a button. It offers conversational experiences including calls, navigation, real-time information, and Generative AI-style responses.

The technology can handle natural speech, providing information on topics ranging from historical facts to trip planning. SoundHound Chat AI is now featured in several Stellantis brands, including Alfa Romeo, Citroën, Peugeot, Opel, and Vauxhall. Data shows increased voice assistant usage and improved customer loyalty scores with this technology.

SoundHound AI, Inc. (Nasdaq: SOUN) announced that its Amelia conversational AI platform has won the XCelent Advanced Technology 2024 Award from Celent, a research and advisory firm. Amelia also achieved 'Luminary' status in Celent's rankings, being highly rated among 10 retail banking intelligent virtual assistant platforms in both the Advanced Technology and Breadth of Functionality categories. The platform's key strengths include extensive experience in conversational AI, longevity in the market, and well-honed use of Generative AI for model development. Celent highlighted Amelia's strong functionality and commitment to innovative solutions for the retail banking sector. This recognition underscores SoundHound's leadership in conversational AI and its impact across financial services, including wealth management and insurance. Michael Anderson, EVP of AI for Enterprise at SoundHound, emphasized the company's ongoing success and dedication to enhancing its capabilities with superior Voice AI.

SoundHound AI (Nasdaq: SOUN) has launched new customization tools for its SoundHound Chat AI voice assistant, aimed at transforming how automotive brands interact with customers in vehicles. The new features include:

1. Brand ID: Allows OEMs to set predefined answers to common questions, reflecting brand image and handling sensitive topics.

2. Onboarding and Education: Enables automakers to integrate personalized branding and educate users on voice assistant functionalities.

These tools are designed to enhance user experience and increase adoption of in-vehicle voice assistants. SoundHound's study found that 87% of regular drivers use voice assistants, with 50% using them weekly and 37% daily. The new features are currently being piloted with some of SoundHound's OEM partners and will be available in a SaaS model.