Summary by Moomoo AI
SoundHound AI, a global leader in conversational intelligence, reported a net loss of $24,184,000 for the three months ended June 30, 2023, with a diluted net loss per share of $0.11. This represents an increase in net loss from the previously reported $21,932,000. The company also reported a net loss of $52,296,000 for the six months ended June 30, 2023, with a diluted net loss per share of $0.25. The adjustments to the financial statements were due to revisions in the company's unaudited condensed consolidated financial statements for the three months ended March 31, 2023. SoundHound AI's business development has been marked by the entry into an Equity Distribution Agreement with several financial institutions, allowing the company to offer and sell up to $150 million of its Class A Common...Show More