SoundHound AI Posts Record Second Quarter Revenue of $61.9 Million, Up 45%

SANTA CLARA, Calif., Aug. 05, 2026 (GLOBE NEWSWIRE) -- SoundHound AI, Inc. (Nasdaq: SOUN), a global leader in voice and agentic AI, said Tuesday that it reported financial results for the second quarter of 2026.

"Our exceptional Q2 results demonstrate the momentum SoundHound is building, achieving a strong revenue performance, disciplined cost management, and industry-leading platform validation," said Keyvan Mohajer, CEO and Co-Founder of SoundHound AI. "With our Q2 revenue now 10 times what it was when we debuted as a public company in Q2 2022, and enterprise demand for high-ROI voice and agentic AI accelerating globally, our OASYS platform and in-house model innovations position us to lead in the new era of enterprise automation."

Financial highlights

• Second quarter reported revenue was $61.9 million, up 45% year over year.
• Second quarter GAAP gross margin was 45.1%; non-GAAP gross margin was 58.4%.
• Second quarter adjusted EBITDA was a loss of $9.6 million.
• Second quarter GAAP net loss was $42.8 million; non-GAAP net loss was $9.0 million.
• Second quarter GAAP earnings per share was a loss of $0.10; non-GAAP earnings per share was a loss of $0.02.

"Our strong topline growth this quarter was driven by signing major enterprise AI deals attributed to OASYS. We also significantly improved our bottom line year over year," said James Hom, interim CFO and co-founder of SoundHound AI. "We are excited by the strong interest we are already seeing with OASYS, which is a testament to the category-defining technology we continue to deliver to the market. Our investment in innovation, combined with our cost discipline, is key as we drive our business toward achieving profitable growth."

Business highlights

Healthcare and pharmaceuticals

SoundHound said it:

• signed a seven-figure deal with a nationally ranked healthcare system with 30,000 employees across its hospitals, health parks and medical offices;
• won Champion Payer Solutions, a California-based company that provides managed care management services to client physician groups;
• won new business with an existing U.S. healthcare customer that provides technology, pharmacy care and direct healthcare services globally; and
• won new business with an existing customer that provides practice management and electronic health record solutions customized for the eye care industry.

The company also renewed with:

• a healthcare company providing in-home nursing services, pediatric therapy, enteral nutrition and ABA therapy;
• a rehab facility offering nursing care for short-term rehab, respite care and long-term care services; and
• a global biopharmaceutical leader and one of the world’s largest generic drug manufacturers.

Banking, financial services and insurance

SoundHound said it renewed with:

• Rakuen Securities, one of Japan’s largest online brokerages, serving over 6 million accounts;
• a global asset-management firm providing investment-management and research services to investors worldwide;
• one of the largest American multinational banks offering financial services and investment banking;
• a major international financial services organization headquartered in Canada offering life and health insurance, wealth solutions and asset management; and
• an insurance company that offers casualty insurance products to individuals, professionals and businesses.

Telecommunications

The company renewed with a British multinational telecommunications company operating in 15 countries.

Auto, devices and voice commerce

SoundHound said it:

• signed a seven-figure deal with a major automotive infotainment software company in China;
• won a new deal with a global developer of automotive diagnostic scan tools, ADAS calibration systems and shop maintenance equipment;
• saw Stellantis increase overall unit adoption and expand to add SoundHound’s live generative AI capabilities;
• saw Hyundai expand unit adoption of live generative AI capabilities;
• reached an agreement with a multinational electronics manufacturer to deploy SoundHound’s technology to enable agentic transactions directly from its TVs; and
• signed a new world-renowned automotive brand to roll out direct in-car Voice Commerce transactions.

Those wins underscore how the company’s software is being used across both physical and digital customer touchpoints, from in-vehicle systems to consumer devices and commerce flows.

Restaurants, retail and consumer goods

SoundHound said it signed new deals with:

• a large QSR specializing in seafood to adopt its drive-thru ordering solution;
• Ruby Tuesday, which will use both Smart Answering and Smart Ordering;
• a major QSR known for American-style Mexican food; and
• a sushi restaurant known for its music and concert-themed menus.

The company said it continued expansion with key brands including Five Guys, IHOP, Jersey Mike’s and a prominent pizza brand that now has SoundHound technology live in more than 75% of its total locations. It also said it signed renewals with Habit Burger, Red Lobster and Torchy’s Tacos. Lazy Dog renewed and expanded to use both Smart Answering and Smart Ordering.

Channel expansion

SoundHound said it signed a new multi-year partnership with a company in Latin America, representing an initial eight-figure deal to deliver SoundHound technology to a network spanning more than 20 countries. The company also entered into a partner agreement with a global IT services and consulting provider specializing in enterprise digital transformations.

Liquidity and outlook

SoundHound said total cash and cash equivalents were $203 million at June 30, 2026, with no debt.

Based on its second-quarter performance, the company raised its full-year 2026 revenue outlook to $230 million to $260 million. SoundHound said that, if its pending acquisition of LivePerson closes, it plans to update its guidance at that time, which it expects before the end of 2026.

The company said the financial data in the press release should be considered preliminary until it files its Form 10-Q. It also said the financial statements for the quarter will be posted on its website and filed as an exhibit to its Form 8-K.

SoundHound AI said it will host a live audio conference call and webcast at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time, with a live webcast and replay available at investors.soundhound.com.

About SoundHound AI

SoundHound AI is a voice and agentic AI company that enables businesses to deliver conversational experiences across digital and physical channels, including phones, kiosks, chat, smart devices, drive-thrus, TVs and in-vehicle systems. Its OASYS platform is a self-learning, orchestrated AI system that allows organizations to build and deploy conversational AI agents to handle transactions, tasks and workflows for customers and employees.

The company said its proprietary technology is backed by more than 400 patents and years of AI research. It serves brands across automotive, financial services, healthcare, retail, telecommunications and other industries, and processes billions of interactions annually for enterprise customers worldwide.

Forward-looking statements

This press release contains forward-looking statements within the meaning of the federal securities laws, including statements regarding expected financial performance, business strategy and operations, the anticipated closing of the pending acquisition of LivePerson, and guidance for 2026. These statements are subject to risks and uncertainties, including the company’s ability to launch and commercialize new products and services, acquire and retain customers, close the LivePerson acquisition in its expected timeframe or at all, manage costs related to recent and pending acquisitions, and achieve accretion from those acquisitions. Actual results may differ materially from those discussed in the forward-looking statements.

Non-GAAP measures

SoundHound said it uses non-GAAP gross profit, non-GAAP gross margin, adjusted EBITDA, non-GAAP net loss and non-GAAP net loss per share in addition to GAAP results. The company said these measures exclude items such as amortization, stock-based compensation and related payroll taxes, acquisition-related expenses, changes in the fair value of contingent acquisition liabilities, and other specified items.

Reconciliations of GAAP to non-GAAP measures are included in the release.

Investors: Scott Smith, 408-724-1498, IR@SoundHound.com

Media: Fiona McEvoy, 415-610-6590, PR@SoundHound.com