SoundHound AI stock jumped nearly 30% after a huge earnings beat. The voice AI company posted a 217% revenue increase year over year, hitting $43 million in Q2. Losses came in at $0.19 per share.
CEO Keyvan Mohajer credited “blowout quarter” results to new deals and cross-selling across industries from restaurants to enterprises. The company boosted its fiscal 2025 revenue forecast to $160 million-$178 million.
SoundHound is pushing into voice commerce with agentic AI, systems that make decisions independently. Mohajer said this tech powers hands-free actions like ordering dinner or booking appointments via car voice commands. SoundHound is working with major auto brands in Europe and North America. 
Restaurants are adopting SoundHound’s voice assistants for order taking to cut costs and speed service. Its tech is now active in 14,000 locations, up from 13,000. New partnerships include Red Lobster, IHOP, and Chipotle.
DA Davidson analyst Gil Luria raised SoundHound’s price target from $10.72 to $15, citing “impressive progress” and a growing pipeline. He called its market “massive and underpenetrated” and noted the company’s rapid customer wins.
Mohajer said SoundHound aims for adjusted EBITDA profitability by the end of fiscal 2025. The company also acquired three firms last year to expand into financial services, healthcare, and insurance, driving cost synergies and growth.
“Every business unit delivered success,” SoundHound AI CEO Keyvan Mohajer said on Yahoo Finance’s Market Catalysts.
“Imagine you’re driving home from work … what if you could find a restaurant that your family likes and place an order for dinner by talking to the car, maybe [book] healthcare or salon appointments … SoundHound is doing that,” Mohajer explained.
“SoundHound continues to win large new logos including major OEMs and restaurants resulting in rapid growth in its pipeline,” DA Davidson analyst Gil Luria wrote.
“explored a lot of cost synergies” after acquiring three companies last year, a move that helped it gain traction in new verticals like financial services, healthcare, and insurance, per Mohajer.
