Reported 2 days ago
SoundHound AI's stock has surged 800% in the past year due to its booming demand in conversational AI technologies, especially in the automotive and restaurant sectors. The company reported an 89% revenue increase in the last quarter, raising its sales guidance for 2024 and 2025 to between $155 million and $175 million. However, investors should also monitor the company's declining gross profit margins despite sales growth, as improving these margins will be crucial for sustainable long-term success.
Source: YAHOO