SoundHound AI's Q1 revenue increased 73% YoY due to strong voice AI demand in autos and restaurants, leading to a $682M subscription backlog.

SoundHound AI's first-quarter revenue surged 73% year-over-year, driven by strong demand for its voice AI products in the automotive and restaurant industries. This led to a $682 million backlog in subscriptions and bookings. The company's acquisition of SYNQ3 Restaurant Solutions has positioned it as the largest US provider of voice AI for restaurants. SoundHound's subscription and bookings backlog increased from $300 million in Q1 2023 to $682 million in Q1 2024.

May 09, 2024
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