| June 30, 2025 | December 31, 2024 | ||||||||||
| (Unaudited) | |||||||||||
| ASSETS | |||||||||||
| Current assets: | |||||||||||
| Cash and cash equivalents | $ | 230,340 | $ | 198,240 | |||||||
Accounts receivable, net of allowances of $2,458 and $726 as of June 30, 2025 and December 31, 2024, respectively | 19,661 | 23,159 | |||||||||
| Contract assets and unbilled receivable, net | 21,928 | 26,645 | |||||||||
| Other current assets | 10,093 | 7,476 | |||||||||
| Total current assets | 282,022 | 255,520 | |||||||||
| Restricted cash equivalents, non-current | 936 | 676 | |||||||||
| Right-of-use assets | 4,420 | 4,692 | |||||||||
| Property and equipment, net | 1,070 | 1,239 | |||||||||
| Goodwill | 101,210 | 101,704 | |||||||||
| Intangible assets, net | 159,880 | 174,943 | |||||||||
| Deferred tax asset | 4 | 4 | |||||||||
| Contract assets and unbilled receivable, non-current, net | 23,631 | 12,879 | |||||||||
| Other non-current assets | 6,321 | 2,296 | |||||||||
| Total assets | $ | 579,494 | $ | 553,953 | |||||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||||||
| Current liabilities: | |||||||||||
| Accounts payable | $ | 10,151 | $ | 5,559 | |||||||
| Accrued liabilities | 18,993 | 26,291 | |||||||||
| Operating lease liabilities | 2,076 | 1,898 | |||||||||
| Finance lease liabilities | 38 | 49 | |||||||||
| Income tax liability | 2,966 | 2,750 | |||||||||
| Deferred revenue | 23,715 | 23,876 | |||||||||
| Other current liabilities | 351 | 7,319 | |||||||||
| Total current liabilities | 58,290 | 67,742 | |||||||||
| Operating lease liabilities, net of current portion | 2,274 | 2,403 | |||||||||
| Deferred revenue, net of current portion | 6,132 | 6,862 | |||||||||
| Contingent acquisition liabilities | 142,113 | 286,898 | |||||||||
| Income tax liability, net of current portion | 3,082 | 3,075 | |||||||||
| Other non-current liabilities | 7,844 | 4,320 | |||||||||
| Total liabilities | 219,735 | 371,300 | |||||||||
| Commitments and contingencies | |||||||||||
| Stockholders’ equity: | |||||||||||
Series A Preferred Stock, $0.0001 par value; 1,000,000 shares authorized; 0 and 0 shares issued and outstanding, aggregate liquidation preference of $0 and $0 as of June 30, 2025 and December 31, 2024, respectively | — | — | |||||||||
Class A Common Stock, $0.0001 par value; 755,000,000 and 455,000,000 shares authorized as of June 30, 2025 and December 31, 2024, respectively; 373,055,866 and 361,096,457 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively | 36 | 35 | |||||||||
Class B Common Stock, $0.0001 par value; 44,000,000 shares authorized; 32,535,408 and 32,535,408 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively | 3 | 3 | |||||||||
| Additional paid-in capital | 1,247,394 | 1,125,470 | |||||||||
| Accumulated deficit | (887,852) | (943,060) | |||||||||
| Accumulated other comprehensive income | 178 | 205 | |||||||||
| Total stockholders’ equity | 359,759 | 182,653 | |||||||||
| Total liabilities and stockholders’ equity | $ | 579,494 | $ | 553,953 | |||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||
| Revenues | $ | 42,683 | $ | 13,462 | $ | 71,812 | $ | 25,056 | |||||||||||||||
| Operating expenses: | |||||||||||||||||||||||
| Cost of revenues | 26,021 | 4,980 | 44,532 | 9,649 | |||||||||||||||||||
| Sales and marketing | 15,837 | 5,655 | 27,844 | 11,197 | |||||||||||||||||||
| Research and development | 25,805 | 15,738 | 50,561 | 30,616 | |||||||||||||||||||
| General and administrative | 18,230 | 9,535 | 36,637 | 19,802 | |||||||||||||||||||
| Change in fair value of contingent acquisition liabilities | 31,359 | (1,082) | (144,741) | 3,080 | |||||||||||||||||||
| Amortization of intangible assets | 3,482 | 621 | 6,933 | 1,226 | |||||||||||||||||||
| Total operating expenses | 120,734 | 35,447 | 21,766 | 75,570 | |||||||||||||||||||
| Income (loss) from operations | (78,051) | (21,985) | 50,046 | (50,514) | |||||||||||||||||||
| Other expense, net: | |||||||||||||||||||||||
| Loss on early extinguishment of debt | — | (15,587) | — | (15,587) | |||||||||||||||||||
| Interest expense | (169) | (4,086) | (404) | (9,750) | |||||||||||||||||||
| Other income, net | 4,752 | 4,974 | 7,641 | 6,453 | |||||||||||||||||||
| Total other income (expense), net | 4,583 | (14,699) | 7,237 | (18,884) | |||||||||||||||||||
| Income (loss) before provision for income taxes | (73,468) | (36,684) | 57,283 | (69,398) | |||||||||||||||||||
| Provision for income taxes | 1,256 | 638 | 2,075 | 933 | |||||||||||||||||||
| Net income (loss) | $ | (74,724) | $ | (37,322) | $ | 55,208 | $ | (70,331) | |||||||||||||||
| Earnings attributable to participating Class A Common Shares | — | — | (297) | — | |||||||||||||||||||
| Cumulative dividends attributable to Series A Preferred Stock | — | (73) | — | (416) | |||||||||||||||||||
| Net income (loss) attributable to SoundHound common shareholders | $ | (74,724) | $ | (37,395) | $ | 54,911 | $ | (70,747) | |||||||||||||||
| Other comprehensive income (loss): | |||||||||||||||||||||||
| Unrealized gains (losses) on investments | (33) | (30) | (27) | 6 | |||||||||||||||||||
| Comprehensive income (loss) | $ | (74,757) | $ | (37,425) | $ | 54,884 | $ | (70,741) | |||||||||||||||
| Net income (loss) per share: | |||||||||||||||||||||||
| Basic | $ | (0.19) | $ | (0.11) | $ | 0.14 | $ | (0.23) | |||||||||||||||
| Diluted | $ | (0.19) | $ | (0.11) | $ | 0.13 | $ | (0.23) | |||||||||||||||
| Weighted-average common shares outstanding: | |||||||||||||||||||||||
| Basic | 400,124,499 | 331,830,608 | 397,026,119 | 309,213,583 | |||||||||||||||||||
| Diluted | 402,043,468 | 331,830,608 | 414,145,877 | 309,213,583 | |||||||||||||||||||
| Six Months Ended June 30, | |||||||||||
| 2025 | 2024 | ||||||||||
| Cash flows used in operating activities: | |||||||||||
| Net income (loss) | $ | 55,208 | $ | (70,331) | |||||||
| Adjustments to reconcile net loss to net cash used in operating activities: | |||||||||||
| Depreciation and amortization | 15,529 | 2,750 | |||||||||
| Stock-based compensation | 41,250 | 14,232 | |||||||||
| Amortization of debt issuance cost | — | 1,524 | |||||||||
| Loss on disposal of property and equipment | 42 | — | |||||||||
| Non-cash lease amortization | 1,388 | 1,445 | |||||||||
| Foreign currency gain/loss from remeasurement | (871) | (70) | |||||||||
| Change in fair value of contingent acquisition liabilities | (144,741) | 3,080 | |||||||||
| Change in fair value of derivative | (2,179) | — | |||||||||
| Loss on early extinguishment of debt | — | 15,587 | |||||||||
| Deferred income taxes | — | (368) | |||||||||
| Other, net | 1,997 | (891) | |||||||||
| Changes in operating assets and liabilities: | |||||||||||
| Accounts receivable, net | 2,383 | 211 | |||||||||
| Other current assets | (2,696) | (1,426) | |||||||||
| Contract assets | (6,314) | (2,267) | |||||||||
| Other non-current assets | (1,846) | (842) | |||||||||
| Accounts payable | 4,567 | 1,941 | |||||||||
| Accrued liabilities | (6,210) | (625) | |||||||||
| Other current liabilities | (2,481) | — | |||||||||
| Operating lease liabilities | (1,359) | (1,720) | |||||||||
| Deferred revenue | (891) | (2,523) | |||||||||
| Other non-current liabilities | 3,542 | (147) | |||||||||
| Net cash used in operating activities | (43,682) | (40,440) | |||||||||
| Cash flows used in investing activities: | |||||||||||
| Purchases of property and equipment | (354) | (335) | |||||||||
| Payment related to acquisition, net of cash acquired | — | (4,453) | |||||||||
| Net cash used in investing activities | (354) | (4,788) | |||||||||
| Cash flows provided by financing activities: | |||||||||||
| Proceeds from sales of Class A common stock under the Sales Agreement, Equity Distribution Agreement, and Second Equity Distribution Agreement | 75,565 | 237,639 | |||||||||
| Proceeds from exercise of stock options and employee stock purchase plan | 2,766 | 10,628 | |||||||||
| Proceeds from warrants exercised | 13 | — | |||||||||
Payment of financing costs associated with the Sales Agreement, Equity Distribution Agreement, and Second Equity Distribution Agreement | (1,511) | (5,639) | |||||||||
| Payment to settle contingent holdback liabilities from SYNQ3 acquisition | (198) | — | |||||||||
| Payments on notes payable | — | (105,540) | |||||||||
| Payments on finance leases | (29) | (58) | |||||||||
| Net cash provided by financing activities | 76,606 | 137,030 | |||||||||
| Effects of exchange rate changes on cash | (210) | 130 | |||||||||
| Net change in cash, cash equivalents, and restricted cash equivalents | 32,360 | 91,932 | |||||||||
| Cash, cash equivalents, and restricted cash equivalents, beginning of period | 198,916 | 109,035 | |||||||||
| Cash, cash equivalents, and restricted cash equivalents, end of period | $ | 231,276 | $ | 200,967 | |||||||
| Reconciliation to amounts on the condensed consolidated balance sheets: | |||||||||||
| Cash and cash equivalents | $ | 230,340 | $ | 200,156 | |||||||
| Non-current portion of restricted cash equivalents | 936 | 811 | |||||||||
Total cash, cash equivalents, and restricted cash equivalents shown in the condensed consolidated statements of cash flows | $ | 231,276 | $ | 200,967 | |||||||
| Supplemental disclosures of cash flow information: | |||||||||||
| Cash paid for interest | $ | 2 | $ | 3,541 | |||||||
| Cash paid for income taxes | $ | 1,905 | $ | 1,274 | |||||||
| Noncash investing and financing activities: | |||||||||||
| Conversion of Series A Preferred Stock to Class A common stock | $ | — | $ | 14,187 | |||||||
| Issuance of Class A Common Stock to settle contingent holdback consideration of SYNQ3 acquisition | $ | 3,922 | $ | — | |||||||
| Deferred offering costs reclassified to additional paid-in capital | $ | 79 | $ | 147 | |||||||
| Unpaid financing costs in connection with the Equity Distribution Agreement | $ | — | $ | 522 | |||||||
| Property and equipment acquired under accrued liabilities | $ | — | $ | 92 | |||||||
| Fair value of Class A common stock and deferred equity consideration issued to acquire SYNQ3 | $ | — | $ | 9,687 | |||||||
| Fair value of contingent earnout consideration to acquire SYNQ3 | $ | — | $ | 1,676 | |||||||
| Fair value of contingent holdback consideration to acquire SYNQ3 | $ | — | $ | 427 | |||||||
| Fair value of deferred cash consideration under other acquisition | $ | — | $ | 195 | |||||||