On August 6, SoundHound AI Inc rose 21.93% in regular trading, trading at $7.695/share, with turnover of $163 million. The surge followed the company's release of Q2 financial results that significantly exceeded market expectations.

SoundHound AI reported Q2 revenue of $61.9 million, up 45% year-over-year and well above the consensus estimate of $52.39 million. Adjusted EPS came in at -$0.02, beating the -$0.06 estimate by 66.67%. The company simultaneously raised the lower bound of its full-year guidance. As of the end of June, SoundHound held $203 million in cash with zero debt. Interim CFO James Hom attributed the revenue growth to the OASYS platform. Additionally, the company's LivePerson acquisition has received all regulatory approvals, with Wedbush estimating the combined business could generate $350-$400 million in revenue by 2027, including at least $100 million from LivePerson's existing customers.

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