Investing.com -- Soundhound AI reported Thursday fourth-quarter results that missed analyst estimates even as the generative AI-enhanced voice product provider saw revenue swell amid new business wins.
SoundHound AI Inc (NASDAQ:SOUN) fell 15% in afterhours trading following the news.
For the three months ended Dec.. 31, the company reported a loss of $0.07 per diluted share, on revenue on $17.15M, missing estimates of a loss of $0.06 and $17.75M, respectively.
The wider loss on the bottom line comes even as revenue increased of 80% year-over-year in Q4, on rising demand for its voice AI applications.
Looking ahead to fiscal 2024, the company forecast revenue in a range of $63M to $77M. For 2025, revenue was expected to exceed $100 million, paving the way to achieve positive adjusted EBITDA.