Income statement, balance sheet and cash flow statement for the last 5 fiscal years, taken from the XBRL data SOUNDHOUND AI, INC. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
21.2
31.1
45.9
84.7
169
Cost of revenue
6.59
9.6
11.3
43.3
97.4
Gross profit
14.6
21.5
34.6
41.4
71.6
Research and development
59.2
76.4
51.4
70.6
98.3
Selling and marketing
4.24
20.4
18.9
29.1
61.6
General and administrative
16.5
30.4
28.3
53.3
82.2
Operating income
-65.3
-106
-68.6
-341
-23.3
Interest expense
8.34
6.89
17.6
12.2
0.67
Interest income
0.01
0.39
2.87
8.37
9.8
Other non-operating income
0.03
-8.15
-16.4
-18.6
14
Pre-tax income
-79.1
-114
-85
-360
-9.27
Income tax
0.46
2.89
3.91
-9.25
4.73
Net income
-79.5
-117
-88.9
-351
-14
EBITDA
-59.8
-102
-66.3
-340
-22.3
EPS, basic
-1.18
-0.74
-0.40
-1.04
-0.03
EPS, diluted
-1.18
-0.74
-0.40
-1.04
-0.28
Shares, basic (weighted)
67.3
157
229
338
405
Shares, diluted (weighted)
67.3
157
229
338
409
Balance sheet
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
21.6
9.25
95.3
198
248
Other current assets
2
0.86
2.45
7.48
10.1
Total current assets
27.5
17.7
114
256
329
Property, plant and equipment
6.16
3.45
1.52
1.24
2.93
Lease right-of-use assets
10.3
8.12
5.21
4.69
3.79
Goodwill
0
102
122
Intangible assets
0
175
181
Long-term investments
133
Other non-current assets
2.38
1.39
0.58
2.3
18
Total assets
49.2
38
151
554
688
Accounts payable
3.76
2.8
1.65
5.56
10.6
Accrued liabilities
7.3
8.54
13.9
26.3
26.3
Deferred revenue
6.04
5.81
4.31
23.9
24
Short-term debt
16.7
0
Total current liabilities
87.7
38.6
24.2
67.7
71.7
Long-term debt
0
18.3
84.3
0
Lease liabilities
8.61
5.72
3.09
2.4
2.07
Other non-current liabilities
1.34
4.42
3.97
4.32
9.54
Total liabilities
113
74.6
123
371
224
Total debt
35
84.3
0
Paid-in capital
43.5
467
606
1,125
1,421
Retained earnings
-387
-503
-592
-943
-957
Other comprehensive income
0
0.2
0.21
0.14
Shareholders' equity
-343
-36.6
28.2
183
464
Total equity
-343
-36.6
28.2
183
464
Total liabilities and equity
49.2
38
151
554
688
Shares outstanding
68.3
Cash flow statement
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-0.98
-117
-88.9
-351
-14
Depreciation and amortization
5.5
4
2.3
1.2
1
Stock-based compensation
6.32
28.8
27.9
33.1
80.6
Deferred income tax
0.11
2.13
0.03
-12.2
1.34
Change in receivables
1.52
-1.35
-0.63
-10.3
-1.3
Change in payables
0.42
0.3
-1.16
-7.64
1.93
Cash from operations
-66.2
-94
-68.3
-109
-98.2
Capital expenditures
-0.64
-1.33
-0.39
-0.64
-0.9
Acquisitions
0
0
-11.7
-54.6
Purchases of investments
-133
Cash from investing
-0.64
-1.33
-0.39
-12.4
-59.5
Debt issued
44.7
0
85.1
0
0
Debt repaid
-35
-215
0
Stock issued
2.49
4.16
9.37
0
0
Cash from financing
44.7
82
168
211
208
Net change in cash
-22.2
-13.3
99.6
89.9
50.3
Free cash flow
-66.8
-95.3
-68.7
-110
-99.1
Interest paid
2.63
4.36
12
6.34
0.03
Income taxes paid
0.26
1.04
2.36
2.72
4.37
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $6.05 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
42.3%
Gross profit / revenue.
Operating margin
-68.5%
Operating income / revenue.
EBITDA margin
-49.0%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-64.7%
Pre-tax income / revenue.
Net margin
-67.5%
Net income / revenue.
FCF margin
-57.0%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-56.4%
Cash from operations / revenue.
Return on equity (ROE)
-27.9%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-20.5%
Net income / average total assets.
Return on invested capital (ROIC)
-38.3%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue
49.7%
Research and development expense / revenue.
Stock-based pay / revenue
38.7%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
0.7%
Capital expenditures / revenue.
D&A / revenue
19.5%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
99.4%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
75.7%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit growth, 1y
72.9%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
49.2%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y
153.9%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
24.2%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
162.6%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Share count change, 1y
21.0%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
37.6%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
3.91x
Current assets / current liabilities.
Quick ratio
2.86x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
2.86x
(Cash + short-term investments) / current liabilities.
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$0.46
Revenue / diluted weighted shares.
FCF per share
-$0.26
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$0.26
Cash from operations / diluted weighted shares.
Book value per share
$1.12
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
13.2x
Market cap / revenue.
P/B
5.48x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
15.1x
Market cap / tangible book value, when positive.
EV/Sales
12.2x
Enterprise value / revenue.
FCF yield
-4.3%
Free cash flow / market cap.
Earnings yield
-5.1%
Net income / market cap (the inverse of P/E).
What was SOUNDHOUND AI, INC.'s revenue in fiscal 2025?
SOUNDHOUND AI, INC. reported revenue of $168.9M for fiscal 2025, 99.4% higher than the year before.
Was SOUNDHOUND AI, INC. profitable in fiscal 2025?
No. It reported a net loss of $14.0M.
How much free cash flow did SOUNDHOUND AI, INC. generate in fiscal 2025?
Cash from operations of $98.2M minus capital expenditures of $902.0K left free cash flow of -$99.1M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.