SoundHound AI to Report Q3 Results After LivePerson Acquisition

SoundHound AI will release its third-quarter financial results after the market closes on November 5. Analysts expect a year-over-year revenue increase of 84%, reaching $77.2 million, as the company attempts to recover from a difficult year in which shares dropped more than 58%.

Investor concerns have centered on accelerated losses and cash burn. To address these issues, the company appointed John Collins as CFO to implement cost-reduction strategies intended to transition the business toward cash generation.

To expand its conversational AI market presence, the company recently acquired LivePerson, a developer of voice-based AI agents. Management expects the combined entity to eventually generate more than $500 million in revenue.