SoundHound AI, Inc. (SOUN) Q4 2024 Earnings Call Transcript

For the period ending December 31, 2024

February 27, 2025 5:00 p.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Hello, and welcome to SoundHound Fourth Quarter 2024 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]

I would now like to turn the conference over to Scott Smith. Sir, you may begin.

Scott Smith

Good afternoon, and thank you for joining our fourth quarter 2024 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 detailed discussion of the risks and uncertainties that could affect our business and for discussion statements that qualify as forward-looking statements.

In addition, we may discuss certain non-GAAP measures. Please refer to today's press release for more detailed financial results and 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 undertake no 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 following today's call.

With that, I'd 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 had our strongest quarter on record with $35 million in revenue, representing an increase of over 100% year-over-year. With that, we reached the top-end of our revenue guidance range for the full year, which we raised just last quarter. This speaks to the continued acceleration of our business. In fact, in the last five years, we have grown our top-line at a compound annual growth rate of more than 50%.

And since going public less than three years ago, we have achieved significant growth in numerous key metrics; revenue increased by 8 times, queries increased by 7 times and bookings increased by 5 times. But the success we are achieving today didn't start three years ago. It began 20 years ago with a vision that is now becoming a reality.