SoundHound AI, Inc. (NASDAQ:SOUN) Q3 2022 Earnings Conference Call November 10, 2022 5:30 PM ET
Company Participants
Scott Smith – Head-Investor Relations
Keyvan Mohajer – Chief Executive Officer
Nitesh Sharan – Chief Financial Officer
Conference Call Participants
Mike Latimore – Northland Capital Markets
Brett Knoblauch – Cantor Fitzgerald
Operator
Good day, and thank you for standing by. Welcome to the SoundHound AI Third Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today’s conference is being recorded.
I would now like to hand the conference over to your speaker today, Scott Smith, Head of Investor Relations. Please go ahead.
Scott Smith
Great. Thank you, Gigi. Hi, everyone. Good afternoon, and thanks for joining our third quarter 2022 conference call. With me today is our CEO, Keyvan Mohajer; and our CFO Nitesh Sharan. We will begin with some short remarks before moving to Q&A.
We’d also like to remind everyone, that we’ll be making forward-looking statements on this call. Actual results could differ materially from those suggested by our forward-looking statements. Please refer to our filings with the SEC for a detail discussion of the risks and uncertainties that could affect our business and those that qualify as forward-looking statements.
In addition, we may discuss certain non-GAAP measures. Please refer to today’s press release for further details on the definitions, limitations and uses of those measures and reconciliations from GAAP to non-GAAP. Also note that the forward-looking statements on this call are based on information available to us as of today’s date. We disclaim any obligation to update any forward-looking statements, except as required by law. Finally, this call is being audio webcast in its entirety on our Investor Relations website. An audio replay will be available shortly, following today’s call.
With that, I would like to turn the call over to our CEO, Keyvan Mohajer. Please go ahead, Keyvan.
Keyvan Mohajer
Thank you, Scott, and thank you to everyone for joining the call today. We have achieved a lot this year and today I am extremely excited to report a record quarter across all key metrics. The demand we are seeing for our innovative AI-powered products and solutions is strong and is only getting stronger as we execute on more opportunities and with more customers.
Even with a softening macroeconomic environment, the demand for AI field solutions continues to grow and our value proposition clearly resonates with businesses. Our cumulative bookings backlogs surpassed at $300 million mark resulting in over $200 million in the past 12 months alone. This key metric for our business has grown at an accelerated pace. In fact, the 239% year-over-year growth we reported this quarter is the fourth straight quarter of triple-digit growth as we continue to increase market share at our key segments.