Short answer
SOUNDHOUND AI, INC. (SOUN) filed its fiscal 2025 10-K annual report with the SEC on Mar 2, 2026. It reported revenue of $169M (+99.4% year over year) and net income of −$14M.
- Top risk flagged: Regulatory/legal risk: Net operating loss carryforwards subject to annual limitations under IRC Sections 382 and 383, risking expiration before utilization starting 2026
FY2025 key financial metrics · XBRL
- Revenue
- $169M
- +99.4% YoY
- Net income
- −$14M
- +96.0% YoY
- Operating margin
- -13.8%
- +389.3 pp YoY
- EPS (diluted)
- −$0.28
- +73.1% YoY
- ROE
- -3.0%
- +189.0 pp YoY
- Operating cash flow
- −$98M
- +9.8% YoY
Source: XBRL data from the SOUNDHOUND AI, INC. (SOUN) FY2025 10-K on SEC EDGAR. USD.
SOUNDHOUND AI, INC. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Independent Voice AI platform enabling customized, brand-owned conversational intelligence across automotive, TV, IoT, and customer service industries
- New emphasis on AI agent orchestration via Amelia 7 platform (2025) enabling multi-agent AI tasks in vehicles, including autonomous backend actions
- Strategic shift leveraging generative AI and Large Language Models since early 2023 to transform conversational AI quality and adoption
- Patent portfolio expanded to 359 granted and 102 pending patents, supporting competitive barriers in speech recognition, NLU, and monetization
- Expanded global reach to support 25 languages and broadened monetization revenue pillar aiming for ecosystem-driven growth
Management Discussion & Analysis
- No explicit revenue figures or YoY changes disclosed in the MD&A section
- Profitability or margin data not provided in the disclosed text
- No segment financial details or best/worst performers identified
- Capital allocation or cash flow information absent; acquisition of Interactions Corporation noted without amounts
- Forward-looking: expects monetization revenue growth from three-pillar model including advertising and lead transactions; emphasizes expanding voice-enabled product ecosystem as key growth driver
Risk Factors
- Regulatory/legal risk: Net operating loss carryforwards subject to annual limitations under IRC Sections 382 and 383, risking expiration before utilization starting 2026
- Geopolitical/macro risk: 2025 foreign revenues $52.6M (Asia $27.5M, EMEA $25.1M) expose to international market fluctuations and regulatory environments
- Operational supply chain risk: Significant cloud/data center costs $97.4M in 2025, with $64M cloud service obligation beyond 2026 impacting cost structure and scalability
- Competitive risk: Acquisitions of Amelia, Interactions, SYNQ3 to compete against established conversational AI firms by enhancing AI platform and market reach
- Financial risk: Acquisition-related contingent liabilities valuation fluctuates with stock price changes, causing non-cash $163.1M fair value gain in 2025 impacting earnings volatility
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