SOUNDHOUND AI INC
For the period ended Dec 31, 2024. Filed Mar 11, 2025.
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FY2024 · Filed Mar 11, 2025
SOUN$3.87-4.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
(In thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from operating activities: | |||
| Net loss | $(350,681) | $(88,937) | $(116,713) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation and amortization | 16,054 | 2,313 | 4,037 |
| Stock-based compensation | 33,145 | 27,931 | 28,792 |
| Loss on change in fair value of ELOC program | — | 1,901 | 1,075 |
| Change in fair value of derivative and warrant liability | — | — | 606 |
| Amortization of debt issuance cost | 1,621 | 5,400 | 2,287 |
| Non-cash lease amortization | 2,613 | 3,346 | 3,189 |
| Loss on early extinguishment of debt | 15,629 | 837 | — |
| Foreign currency gain/loss from remeasurement | (24) | 143 | — |
| Change in fair value of contingent acquisition liabilities | 222,670 | — | — |
| Deferred income taxes | (12,183) | 30 | 2,127 |
| Other, net | (580) | 93 | — |
| Changes in operating assets and liabilities: | |||
| Accounts receivable, net | (10,264) | (627) | (1,354) |
| Prepaid expenses | — | 1,590 | (1,238) |
| Other current assets | (3,131) | (821) | 299 |
| Contract assets | (7,304) | (19,578) | (8,658) |
| Other non-current assets | (196) | 671 | (274) |
| Accounts payable | (7,636) | (1,162) | 302 |
| Accrued liabilities | 1,846 | 4,266 | 116 |
| Other current liabilities | (642) | — | — |
| Operating lease liabilities | (3,214) | (3,657) | (3,912) |
| Deferred revenue | (6,186) | (4,135) | (7,646) |
| Other non-current liabilities | (415) | 2,131 | 2,946 |
| Net cash used in operating activities | (108,878) | (68,265) | (94,019) |
| Cash flows from investing activities: | |||
| Purchases of property and equipment | (640) | (392) | (1,329) |
| Payment related to acquisitions, net of cash acquired | (11,732) | — | — |
| Net cash used in investing activities | (12,372) | (392) | (1,329) |
| Cash flows from financing activities: | |||
| Proceeds from the issuance of Series A Preferred Stock, net of issuance costs | — | 24,942 | — |
| Proceeds from sales of Class A common stock under the ELOC program, net of issuance costs | — | 71,615 | — |
| Proceeds from sales of Class A common stock under the Sales Agreement, Equity Distribution Agreement and Execute Equity Distribution Agreement | 407,270 | 12,412 | — |
| Proceeds from exercise of stock options and employee stock purchase plan | 29,685 | — | — |
| Proceeds from warrants exercised | 23 | — | — |
| Payment of financing costs associated with the Sales Agreement, Equity Distribution Agreement and Execute Equity Distribution Agreement | (10,357) | — | — |
| Proceeds from the issuance of debt, net of issuance costs | — | 85,087 | — |
| Proceeds from the issuance of common stock | — | 9,369 | 4,160 |
| Proceeds from Business Combination and PIPE, net of transaction costs | — | — | 90,689 |
| Payments on notes payable | (215,373) | (35,029) | (11,545) |
| Payment to settle contingent holdback liabilities from SYNQ3 and other acquisitions | (217) | — | — |
| Payments on finance leases | (125) | (159) | (1,303) |
| Net cash provided by financing activities | 210,906 | 168,237 | 82,001 |
| Effects of exchange rate changes on cash | 225 | (20) | — |
| Net change in cash, cash equivalents, and restricted cash equivalents | 89,881 | 99,560 | (13,347) |
| Cash, cash equivalents, and restricted cash equivalents, beginning of year | 109,035 | 9,475 | 22,822 |
| Cash, cash equivalents, and restricted cash equivalents, end of year | $198,916 | $109,035 | $9,475 |
SOUNDHOUND, INC.
For the Year Ended December 31, 2024 and 2023
(In thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Reconciliation to amounts on the consolidated balance sheets: | |||
| Cash and cash equivalents | $198,240 | $95,260 | $9,245 |
| Current portion of restricted cash equivalents | — | — | — |
| Non-current portion of restricted cash equivalents | 676 | 13,775 | 230 |
| Total cash, cash equivalents, and restricted cash equivalents shown in the consolidated statements of cash flows | $198,916 | $109,035 | $9,475 |
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Supplemental disclosures of cash flow information: | |||
| Cash paid for interest | $6,337 | $11,984 | $4,364 |
| Cash paid for income taxes | $2,717 | $2,356 | $1,044 |
| Noncash investing and financing activities: | |||
| Conversion of Series A Preferred Stock to Class A common stock | $14,187 | $10,755 | $— |
| Debt discount through issuance of common stock warrants | $— | $4,136 | $— |
| Issuance of Class A Common Stock to settle commitment shares related to the ELOC program | $— | $915 | $— |
| Issuance of Class A Common Stock to settle obligations under Amelia Debt | $11,817 | $— | $— |
| Issuance of Class A Common Stock to settle contingent holdback consideration of SYNQ3 acquisition | $189 | $— | $— |
| Conversion of redeemable convertible preferred stock to common stock pursuant to Business Combination | $— | $— | $279,503 |
| Conversion of convertible note into common stock pursuant to Business Combination | $— | $— | $20,239 |
| Operating lease liabilities arising from obtaining right-of-use assets | $1,559 | $— | $650 |
| Deferred offering costs reclassified to additional paid-in capital | $220 | $— | $— |
| Fair value of Class A common stock and deferred equity consideration issued to acquire SYNQ3 and Amelia | $33,606 | $— | $— |
| Fair value of contingent earnout consideration to acquire SYNQ3 and Amelia | $67,945 | $— | $— |
| Fair value of contingent holdback consideration to acquire SYNQ3 | $570 | $— | $— |
| Fair value of deferred cash consideration under other acquisition | $195 | $— | $— |
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