Wedbush analyst Daniel Ives reiterated the Outperform rating on SoundHound AI, Inc. (NASDAQ:SOUN) with a price forecast of $9.
Following the first quarter results, the analyst notes that the company continues to see demand for its voice AI products picked up in the automotive and restaurant industries, signing various large brand deals that fuel growth while grabbing market share in the conversational AI market.
The company's subscription and bookings backlog increased to $682.0 million in the first quarter. Per Ives, this is due to strong product royalties and strength in the automotive segment as new and existing customers continue to show interest in its Chat AI platform.
SoundHound fully closed its acquisition of SYNQ3 Restaurant Solutions, as the company is now the largest U.S. provider of voice AI for restaurants with over 10,000 signed locations and significantly more in the pipeline as the restaurant segment now represents ~30% of total revenue ahead of initial expectations of 20% for FY24.
The company noted strength across its partnership ecosystem highlighted by a new partnership with NVIDIA Corporation (NASDAQ:NVDA) where the company will deliver in-vehicle voice-enabled generative AI responses that don't require connectivity.
SoundHound expects to see positive adjusted EBITDA in 2025 as the company is well-positioned to capitalize on the demand for AI chatbots with a strong focus on partnerships and more use cases being provided while expanding its voice-enabled ecosystem to accelerate growth and margins.
According to the analyst, this was a major step in the right direction for the SoundHound story as the company continues to build toward profitable growth with stable revenue pillars in Automotive/Restaurant and strong monetization capabilities to capture demand from enterprises across industries that seek ways to optimize efficiencies.
The analyst raised FY24 revenue outlook to $71.6 million from $70.2 million.
Price Action: SOUN shares are trading higher by 7.3% to $5.10 at last check Friday.
Wedbush分析師丹尼爾·艾夫斯重申了對SoundHound AI公司(NASDAQ:SOUN)的跑贏大盤評級，預測股價爲9美元。
根據第一季度業績，分析師指出，該公司繼續看到汽車和餐飲業對其語音人工智能產品的需求回升，簽署了各種大型品牌協議，推動了增長，同時在對話式人工智能市場上佔據了市場份額。
該公司的訂閱和預訂積壓量在第一季度增加到6.820億美元。根據艾夫斯的說法，這是由於強勁的產品特許權使用費和汽車領域的實力，因爲新老客戶繼續對其Chat AI平台表現出興趣。
SoundHound完全完成了對SYNQ3 Restaurant Solutions的收購，因爲該公司現在是美國最大的餐廳語音人工智能提供商，擁有超過10,000個簽約地點，而且還有更多正在籌建中，因爲餐飲板塊目前佔總收入的約30％，高於最初預期的24財年20％。
該公司指出，與英偉達公司(NASDAQ:NVDA)的新合作伙伴關係突顯了其合作伙伴生態系統的優勢，該公司將提供不需要連接的車載語音生成式人工智能響應。
SoundHound預計，2025年調整後的息稅折舊攤銷前利潤將爲正，因爲該公司完全有能力利用對人工智能聊天機器人的需求，重點關注合作伙伴關係和提供更多用例，同時擴大其語音生態系統以加速增長和利潤。
根據分析師的說法，這是SoundHound故事朝着正確方向邁出的重要一步，因爲該公司繼續朝着盈利增長邁進，其收入支柱是汽車/餐飲業，強大的盈利能力可以吸引尋求優化效率的各行業企業的需求。
該分析師將24財年的收入前景從7,020萬美元上調至7,160萬美元。
價格走勢：週五最後一次檢查時，SOUN股價上漲7.3％，至5.10美元。
