SoundHound AI Inc. had its first big moment in the spotlight Thursday since emerging into broader consciousness as an artificial-intelligence play, but its buzzy stock was taking a tumble. <\/p>\n
Shares of SoundHound The company, which offers conversational AI technology, isn\u2019t highly covered on Wall Street, and just six analysts have revenue estimates for the company. Still, SoundHound\u2019s \u201crecord\u201d top-line revenue of $17.1 million, up 80% from a year before, trailed the $17.7 million consensus view for the fiscal fourth quarter. <\/p>\n SoundHound lost more money than it made, racking up a loss of $18.0 million, or 7 cents a share. Losses improved from the year-earlier quarter, when SoundHound posted a net loss of $30.9 million, or 15 cents a share. <\/p>\n The company reported a $3.7 million loss on the basis of adjusted earnings before interest, taxes, depreciation and amortization (Ebitda), whereas it lost $18.8 million on the metric a year prior. The FactSet consensus was for a loss less than $1 million.<\/p>\n \u201cOur pace and agility amid this AI revolution has put us ahead of the field when it comes to delivering real commercial value,\u201d Chief Executive Keyvan Mohajer said in a release. <\/p>\n SoundHound expects $63 million to $77 million in fiscal 2024 revenue, matching the consensus view at the midpoint. The company anticipates fiscal 2025 revenue will exceed $100 million, upon accelerating growth. The company also expects to record positive adjusted Ebitda then. <\/p>\n Analysts tracked by FactSet were modeling about $100 million in revenue for fiscal 2025, along with an adjusted Ebitda loss of about $1 million. <\/p>\n SoundHound\u2019s stock has exploded more than 300% higher over the past month, seemingly picking up new awareness after Nvidia Corp.
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\n were falling 17% in Thursday\u2019s after-hours action after the company delivered an upbeat outlook for fiscal 2025, which is a year out, but fell short of expectations with its latest results.<\/p>\n
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\n disclosed a position in the company when it filed a 13-F in mid-February. <\/p>\n<\/p><\/div>\n<\/div>\n