{"id":32791,"date":"2025-02-26T23:56:00","date_gmt":"2025-02-26T15:56:00","guid":{"rendered":"https:\/\/www.granitefirm.com\/blog\/us\/?p=32791"},"modified":"2025-10-25T12:16:43","modified_gmt":"2025-10-25T04:16:43","slug":"deep-dive-soundhound","status":"publish","type":"post","link":"https:\/\/www.granitefirm.com\/blog\/us\/2025\/02\/26\/deep-dive-soundhound\/","title":{"rendered":"Deep Dive on SoundHound, the top AI Voice expert"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_83 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ffffff;color:#ffffff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ffffff;color:#ffffff\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/02\/26\/deep-dive-soundhound\/#Company_Profile\" >Company Profile<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/02\/26\/deep-dive-soundhound\/#Founding\" >Founding<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/02\/26\/deep-dive-soundhound\/#Known_by_song_recognition\" >Known by song recognition<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/02\/26\/deep-dive-soundhound\/#Services_provided\" >Services provided<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/02\/26\/deep-dive-soundhound\/#Initial_Public_Offering\" >Initial Public Offering<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/02\/26\/deep-dive-soundhound\/#How_big_is_the_voice_AI_market\" >How big is the voice AI market?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/02\/26\/deep-dive-soundhound\/#Products\" >Products<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/02\/26\/deep-dive-soundhound\/#Song_recognition\" >Song recognition<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/02\/26\/deep-dive-soundhound\/#Industry_Customized_Solutions\" >Industry Customized Solutions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/02\/26\/deep-dive-soundhound\/#Market_positioning_and_strategy\" >Market positioning and strategy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/02\/26\/deep-dive-soundhound\/#Competitors\" >Competitors<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/02\/26\/deep-dive-soundhound\/#Competitive_Advantage\" >Competitive Advantage<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/02\/26\/deep-dive-soundhound\/#Core_Technology\" >Core Technology<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/02\/26\/deep-dive-soundhound\/#Patent\" >Patent<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/02\/26\/deep-dive-soundhound\/#Globalization\" >Globalization<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/02\/26\/deep-dive-soundhound\/#Business_Model\" >Business Model<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/02\/26\/deep-dive-soundhound\/#Solutions_that_tech_giants_cant_offer\" >Solutions that tech giants can\u2019t offer<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/02\/26\/deep-dive-soundhound\/#Business_Milestones_of_the_Company\" >Business Milestones of the Company<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/02\/26\/deep-dive-soundhound\/#Important_acquisitions\" >Important acquisitions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/02\/26\/deep-dive-soundhound\/#Key_Customers\" >Key Customers<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/02\/26\/deep-dive-soundhound\/#Relationship_with_Nvidia\" >Relationship with Nvidia<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/02\/26\/deep-dive-soundhound\/#Industry-oriented_business_model\" >Industry-oriented business model<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/02\/26\/deep-dive-soundhound\/#Industry_customers_dominate_its_revenue\" >Industry customers dominate its revenue<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/02\/26\/deep-dive-soundhound\/#Targeted_industries\" >Targeted industries<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/02\/26\/deep-dive-soundhound\/#Restaurent_chainstore\" >Restaurent chainstore<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-26\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/02\/26\/deep-dive-soundhound\/#Automotive\" >Automotive<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-27\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/02\/26\/deep-dive-soundhound\/#Operating_Performance\" >Operating Performance<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-28\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/02\/26\/deep-dive-soundhound\/#2024_Q3_Financial_Report\" >2024 Q3 Financial Report<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-29\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/02\/26\/deep-dive-soundhound\/#Financial_healthy\" >Financial healthy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-30\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/02\/26\/deep-dive-soundhound\/#2025_forecast\" >2025 forecast<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-31\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/02\/26\/deep-dive-soundhound\/#Prospect\" >Prospect<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-32\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/02\/26\/deep-dive-soundhound\/#Capital_market_performance\" >Capital market performance<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-33\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/02\/26\/deep-dive-soundhound\/#Market_Cap\" >Market Cap<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-34\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/02\/26\/deep-dive-soundhound\/#Stock_price_performance\" >Stock price performance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-35\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/02\/26\/deep-dive-soundhound\/#Risks\" >Risks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-36\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/02\/26\/deep-dive-soundhound\/#Unreasonable_valuation\" >Unreasonable valuation<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-37\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/02\/26\/deep-dive-soundhound\/#Related_articles\" >Related articles<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Company_Profile\"><\/span>Company Profile<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Founding\"><\/span>Founding<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><a href=\"https:\/\/www.soundhound.com\/\" target=\"_blank\" rel=\"noopener\">SoundHound AI (ticker: SOUN)<\/a> was co-founded in 2005 by Iranian-Canadian computer scientist and entrepreneur Keyvan Mohajer and specializes in voice artificial intelligence.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Known_by_song_recognition\"><\/span>Known by song recognition<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>In 2009, the company&#8217;s automatic song recognition application Midomi was renamed SoundHound.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Services_provided\"><\/span>Services provided<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>SoundHound provides an artificial intelligence voice platform that enables businesses to provide consumers with customized conversational experiences.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Initial_Public_Offering\"><\/span>Initial Public Offering<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>On November 16, 2021, SoundHound announced plans to become a public company through a SPAC merger with Archimedes Tech SPAC Partners Co. On April 28, 2022, the merged company, SoundHound AI, was listed on Nasdaq.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_big_is_the_voice_AI_market\"><\/span>How big is the voice AI market?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The AI \u200b\u200bspeech generator market is experiencing rapid expansion, with the market value expected to increase from approximately US$3 billion in 2024 to US$20.4 billion in 2030, at a compound annual growth rate of 38%. The global voice and speech recognition market size is estimated at USD 20.25 billion in 2023 and is expected to grow at a CAGR of 14.6% from 2024 to 2030.<\/p>\n\n\n\n<p>The company estimates a total addressable market of at least $140 billion. This addressable market could grow even larger over the next few years. Juniper Research projects the market for voice AI will top $160 billion by 2026.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Products\"><\/span>Products<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Song_recognition\"><\/span>Song recognition<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>SoundHound is a music recognition software. When users hear a favorite song but don&#8217;t know the song name, they can use SoundHound to find it. Just point the phone microphone as close to the sound source as possible or hum. For most songs, SoundHound can It can obtain the song title from Midomi within 10 seconds, and display the singer, album, album cover and other information. The functionality is the same as Shazam, a software company that Apple acquired for $400 million in December 2017.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Industry_Customized_Solutions\"><\/span>Industry Customized Solutions<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>SoundHound&#8217;s technology is used in a wide range of voice-enabled products and services, primarily in automotive, television, IoT, restaurants, customer service, healthcare, finance and retail. SoundHound offers a range of AI-powered products, including Smart Responses, Smart Ordering, Dynamic Drive-Thru, and SoundHound Chat AI, a voice assistant powered by generative AI.<\/p>\n\n\n\n<p>SoundHound&#8217;s applications are live in over 10,000 restaurant locations, where they automate drive-thru ordering, phone ordering, and in-store ordering. Plus, adoption is growing for the company&#8217;s Employee Assist software, which can provide workers with immediate information about menu items or store policies on command. It&#8217;s basically a virtual assistant they can speak to at any time during their shift.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Market_positioning_and_strategy\"><\/span>Market positioning and strategy<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>SoundHound faces stiff competition from large tech giants\u2019 AI voice platforms, such as Amazon\u2019s Alexa, Google Assistant, and Apple\u2019s Siri. Large tech giants focus on consumer ecosystems, while SoundHound has carved out a unique niche. Basic market: Focus on solutions tailored for enterprises.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Competitors\"><\/span>Competitors<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Major competitors include Amazon&#8217;s Alexa, Google Assistant, Apple, Microsoft&#8217;s Nuance, etc.<\/p>\n\n\n\n<p>There are many smaller competitors, such as Cerence (ticker: CRNC), which is a more famous one.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Competitive_Advantage\"><\/span>Competitive Advantage<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Core_Technology\"><\/span>Core Technology<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>SoundHound is unique in its ability to deliver high-quality conversational experiences in industries such as automotive, IoT, and customer service. At its core is speech-to-meaning technology, which bypasses the traditional steps of converting speech to text. Instead, it derives meaning directly from audio input, enabling faster and more accurate responses.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Patent\"><\/span>Patent<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>SoundHound has been improving its products for more than a decade, which has given it an advantage in the international market. With more than 155 granted patents and 115 pending patents, the company has developed a number of innovative technologies around speech recognition, natural language processing and conversational speech recognition. Innovations in monetization have created a wall of protection.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Globalization\"><\/span>Globalization <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>SoundHound\u2019s AI models, including its underlying Polaris Engine, are trained on billions of conversations and over a million hours of audio. This massive amount of data, covering dozens of major languages \u200b\u200baround the world (currently supporting over 25), enables the system to handle everything from casual queries to highly domain-specific commands.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Business_Model\"><\/span>Business Model<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>While big tech companies build voice assistants to power their ecosystems, often limiting customization, SoundHound positions itself as a platform-agnostic company.<\/p>\n\n\n\n<p>But SoundHound provides white-label (similar to ODM foundy) solutions, a market that tech giants cannot and are unwilling to enter. This approach gives businesses full control over their brand, user profile, and voice assistant functionality, a key differentiator for companies wary of sharing sensitive information.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Solutions_that_tech_giants_cant_offer\"><\/span>Solutions that tech giants can\u2019t offer<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>SoundHound allows businesses to have their own brand and customize the voice assistant to meet their specific needs. For example, once a customized voice assistant is embedded into a vehicle\u2019s operating system, replacing it requires redesigning core components, a costly and time-consuming process for automakers. This deep integration strengthens the relationship between SoundHound and its customers. This makes it an indispensable partner for its customers and easily establishes long-term partnerships with its customers.<\/p>\n\n\n\n<p>Another area of \u200b\u200bSoundHound&#8217;s competitive advantage is its ability to provide customizability and data privacy. Businesses are able to retain control over their brand and user profiles. This independence is a critical factor for businesses that need to maintain privacy while delivering a brand experience for their customers.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Business_Milestones_of_the_Company\"><\/span>Business Milestones of the Company<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Important_acquisitions\"><\/span>Important acquisitions<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>In December 2023, SoundHound acquired SYNQ3 Restaurant Solutions, a provider of voice AI for restaurants, for $25 million.<\/p>\n\n\n\n<p>In June 2024, SoundHound acquired Allset, a restaurant ordering marketplace founded in Ukraine.<\/p>\n\n\n\n<p>In August 2024, SoundHound acquired Amelia AI for $85 million with the goal of expanding its presence in financial services, insurance, healthcare, retail, and hospitality.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Key_Customers\"><\/span>Key Customers<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>In 2015, SoundHound partnered with Hyundai to become the first in-car music recognition service on the new Genesis model.<\/p>\n\n\n\n<p>In 2018, SoundHound Inc. announced partnerships with Hyundai, Mercedes-Benz, and Honda to use its Houndify voice AI platform to provide voice interaction for their products.<\/p>\n\n\n\n<p>In 2023-2024, SoundHound partnered with White Castle and Jersey Mike&#8217;s Subs to offer AI-enabled drive-thru and voice AI phone ordering services at hundreds of locations. The company&#8217;s customer base also includes Chipotle, Applebee&#8217;s, Habit Burger, Noodles &amp; Company, Beef O&#8217;Brady&#8217;s and Casey&#8217;s General Stores.<\/p>\n\n\n\n<p>In 2024, SoundHound introduced the voice AI assistant in Peugeot, Opel, Vauxhall, Alfa Romeo, Citroen and Lancia cars in Europe.<\/p>\n\n\n\n<p>In November 2024, SoundHound integrated its voice AI into Kia vehicles in India, including support for Hindi.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Relationship_with_Nvidia\"><\/span>Relationship with Nvidia<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Nvidia holds an investment stake in SoundHound AI. SoundHound is also working with Nvidia to enhance in-car voice assistants. The collaboration brings together SoundHound\u2019s Chat AI platform with Nvidia\u2019s DRIVE platform, enabling advanced in-car voice assistants to operate without the need for a cloud connection. This advancement enhances the in-car experience by enabling drivers to access information directly from the vehicle manual and other sources using natural speech.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Industry-oriented_business_model\"><\/span>Industry-oriented business model<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Industry_customers_dominate_its_revenue\"><\/span>Industry customers dominate its revenue<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>SoundHound told investors that five different industries represented between 5% and 25% of its total revenue, whereas in the prior-year period, 90% of its revenue came from the automotive sector alone.<\/p>\n\n\n\n<p>Importantly, Soundhound continues to diversify its customer base. In the third quarter of 2023, more than 90% of its revenue came from the automotive sector, with 72% coming from one customer. Today, six sectors each contribute between 5% and 25% of revenue, while the largest customer accounts for just 12% of total revenue.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Targeted_industries\"><\/span>Targeted industries<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>SoundHound is building AI agent solution partnerships with leading companies in industries such as healthcare, insurance, telecommunications and banking, while also securing U.S. government and military contracts.<\/p>\n\n\n\n<p>One of the company&#8217;s most notable achievements is in the restaurant industry, where it significantly optimized the drive-thru restaurant telephone ordering system. In addition, there was a significant increase in agreements signed with global electric vehicle manufacturers to embed advanced conversational AI capabilities into modern vehicles.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Restaurent_chainstore\"><\/span>Restaurent chainstore<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Chipotle Mexican Grill, White Castle, Applebee&#8217;s, and Panda Express are just some of the top restaurant chains using SoundHound&#8217;s technology.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Automotive\"><\/span>Automotive<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>SoundHound&#8217;s Chat AI software is also finding its way into several new cars from leading manufacturers like&nbsp;Stellantis&nbsp;(Chrysler, Jeep, and Dodge),&nbsp;Mercedes-Benz, and&nbsp;Hyundai. It&#8217;s a powerful voice assistant that can give the driver information on everything from the weather to sports scores.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Operating_Performance\"><\/span>Operating Performance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2024_Q3_Financial_Report\"><\/span>2024 Q3 Financial Report<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>In the third quarter of 2024, revenue reached $25 million, an increase of 89% year-over-year. Full-year revenue is expected to reach $83.5 million, up 82% year over year, and the updated 2025 outlook is expected to be $15.5-175 million, nearly doubling year over year.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Financial_healthy\"><\/span>Financial healthy<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>On the balance sheet, SoundHound holds $136 million in cash and cash equivalents and only $40 million in current debt. Due to net losses and operating expenses, free cash flow is currently negative.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2025_forecast\"><\/span>2025 forecast<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>2025 could be SoundHound&#8217;s biggest year so far. Before it even started, the company told investors it could deliver up to $175 million in revenue, which would represent accelerated growth of 105% compared to 2024.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Prospect\"><\/span>Prospect<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>SoundHound&#8217;s recent financial performance reflects a company in high-growth mode, with impressive scalability metrics but ongoing challenges with profitability. Revenue continues to grow, increasing by more than 50% over the past four quarters.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Capital_market_performance\"><\/span>Capital market performance <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Market_Cap\"><\/span>Market Cap<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>As of December 30, 2024, SoundHound&#8217;s market value is US$8.39 billion, which is considered a small-cap level in the U.S. stock market.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Stock_price_performance\"><\/span>Stock price performance<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>As of December 30, 2024, SoundHound:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Since the beginning of 2024, it has risen by 990.38%.<\/li>\n\n\n\n<li>Since the company went public, it has risen by 248.92%.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Risks\"><\/span>Risks<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>In 2023, the largest customer contributed 72% of total revenue, while in 2024, the top five customers together accounted for less than a third.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Unreasonable_valuation\"><\/span>Unreasonable valuation<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Current valuations raise significant concerns. Following the release of its third-quarter 2024 earnings report, the stock surged more than 190% in just 35 days. <\/p>\n\n\n\n<p>While this reflects the market&#8217;s enthusiasm for its scalability and diversified customer base, it also pushes its price-to-sales (P\/S) ratio to a staggering 99 times and forward P\/E to 53 times. <\/p>\n\n\n\n<p>Given the expected revenue growth, it is difficult to justify such a valuation in my view for a company that still faces profitability challenges and reports negative free cash flow.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"100\" height=\"111\" src=\"https:\/\/www.granitefirm.com\/blog\/us\/wp-content\/uploads\/sites\/2\/2024\/12\/Soun-Custom.jpg\" alt=\"SoundHound\" class=\"wp-image-32793\"\/><figcaption class=\"wp-element-caption\">credit: Wiki<\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Related_articles\"><\/span>Related 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href=\"https:\/\/www.granitefirm.com\/blog\/us\/2023\/04\/11\/us-artificial-intelligence\/\">Major artificial intelligence companies in US stocks market<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2023\/04\/03\/openai-and-chatgpt\/\">OpenAI, the Generative Artificial Intelligence rising star and ChatGPT<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2023\/03\/24\/artificial-intelligence-online-lending-platform-upstart\/\">Artificial intelligence online lending platform Upstart<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/10\/24\/innodata-road-to-fame\/\">Innodata road to fame<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/10\/16\/the-technological-republic\/\">&#8220;The Technological Republic&#8221;,the only book to understand Palantir<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/03\/04\/value-and-problem-palantir\/\">The value of Palantir, pros and cons of Palantir investment<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/06\/14\/palantir-introduction\/\">What kind of company is Palantir?<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2023\/04\/15\/c3-ai\/\">C3.ai, a position successfully artificial intelligence company<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/03\/04\/value-and-problem-palantir\/\">The value of Palantir, pros and cons of Palantir investment<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/06\/14\/palantir-introduction\/\">What kind of company is Palantir?<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/08\/29\/fair-isaac\/\">Fair Isaac, one of the most important listed companies in the US consumer finance industry<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2023\/10\/02\/ai-bubble\/\" target=\"_blank\" rel=\"noreferrer noopener\">The artificial intelligence bubble in the capital market is forming<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2024\/06\/26\/software-underperforming-ai\/\" target=\"_blank\" rel=\"noreferrer noopener\">Why software underperforming amid the AI craze?<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2024\/05\/31\/ai-benefits-industries\/\" target=\"_blank\" rel=\"noreferrer noopener\">Artificial intelligence benefits industries<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2024\/04\/06\/artificial-intelligence-listed-companies\/\" target=\"_blank\" rel=\"noreferrer noopener\">Top five lucrative artificial intelligence listed companies<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/07\/09\/ai-investment-trap\/\">Artificial intelligence investment trap<\/a>&#8220;<\/li>\n<\/ul>\n\n\n\n<p><em><strong>Disclaimer<\/strong><\/em><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><em>The content of this site is the author\u2019s personal opinions and is for reference only. I am not responsible for the correctness, opinions, and immediacy of the content and information of the article. Readers must make their own judgments.<\/em><\/li>\n\n\n\n<li><em>I shall not be liable for any damages or other legal liabilities for the direct or indirect losses caused by the readers&#8217; direct or indirect reliance on and reference to the information on this site, or all the responsibilities arising therefrom, as a result of any investment behavior.<\/em><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>SoundHound provides white-label (similar to ODM foundy) solutions, a market that tech giants cannot and are unwilling to enter. This approach gives businesses full control over their brand, user profile, and voice assistant functionality, a key differentiator for companies wary of sharing sensitive information.<\/p>\n","protected":false},"author":1,"featured_media":32793,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[104,122],"tags":[1418,974],"class_list":["post-32791","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-artificial-intelligence","category-software","tag-crnc","tag-soun"],"_links":{"self":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts\/32791","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/comments?post=32791"}],"version-history":[{"count":25,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts\/32791\/revisions"}],"predecessor-version":[{"id":39633,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts\/32791\/revisions\/39633"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/media\/32793"}],"wp:attachment":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/media?parent=32791"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/categories?post=32791"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/tags?post=32791"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}