SoundHound AI reports Q3 revenue up 89%, raising full-year outlooks despite stock price drop.

SoundHound AI reported a strong Q3 with revenue up 89% to $25.1 million, despite its stock price falling. The company improved its loss to $0.04 per share and raised its full-year revenue outlooks for 2024 and 2025. With a stock price rise of about 200% this year, SoundHound's valuation sits at a high P/S multiple. The company's recent deals in industries like automotive and healthcare have expanded its business, potentially making it a speculative growth stock worth considering despite current market dip.

November 17, 2024
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