SoundHound AI, Inc.

Q2 revenue was $61.9 million, up 45% year over year. GAAP gross margin was 45%, up 6 percentage points year over year; non-GAAP gross margin was 58%, flat year over year and up 8 points sequentially. GAAP operating loss was $43.3 million, improved 45% year over year; adjusted EBITDA loss was $9.6 million, improved 33% year over year; GAAP net loss was $42.8 million, or $0.10 per share, and non-GAAP net loss was $9 million, or $0.02 per share. Cash and equivalents were $203 million with no debt. For the full year, management raised revenue expectations to $230 million to $260 million, excluding LivePerson; they reiterated that LivePerson is not included in guidance and that they expect to provide an update once the acquisition closes, which they still expect before year-end.

Keyvan Mohajer framed the quarter as an execution win driven by OASYS, saying the platform is helping SoundHound win faster in demos, RFPs and pilots and convert customers more quickly. He emphasized the company’s strategy of combining its own models with frontier models where useful, while gradually shifting more customers onto SoundHound’s own stack for better quality, lower cost and more control. His tone was highly confident and expansive, particularly around agentic AI demand, vertical expansion, and the pending LivePerson deal as a way to broaden scale and deepen enterprise reach.

James Hom focused on the financial acceleration and operating discipline behind the results. He cited $61.9 million of revenue, 45% year-over-year growth, 45% GAAP gross margin, 58% non-GAAP gross margin, $27.1 million of R&D, $16.6 million of sales and marketing, $26 million of G&A, and $203 million of cash with no debt. He also pointed to improved profitability metrics, including a $43.3 million GAAP operating loss and a $9.6 million adjusted EBITDA loss, and said the company expects gross margin to exceed 70% in the future as synergies and in-house model adoption continue to improve economics.

Analysts pressed on how OASYS and SoundHound’s own models affect the installed base from Amelia, Interactions and the pending LivePerson deal, and management said new customers will use OASYS while legacy customers will be migrated at their own pace. They also asked about the large 8-figure commitment, with management describing it as a channel-driven platform commitment across customers in 20 countries rather than a single one-off deployment. On guidance, management confirmed the current $230 million to $260 million outlook excludes LivePerson, and reiterated the prior view that, if the merger closes in the second half, next year could be at least $350 million to $400 million. Management also said regulatory approvals for LivePerson are now in place, increasing confidence in closing this year.