SOUNDHOUND AI INC
For the period ended Dec 31, 2023. Filed Mar 1, 2024.
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FY2023 · Filed Mar 1, 2024
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, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash flows from operating activities: | |||
| Net loss | $(88,937) | $(116,713) | $(79,540) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation and amortization | 2,313 | 4,037 | 5,502 |
| Stock-based compensation | 27,931 | 28,792 | 6,322 |
| Loss on change in fair value of ELOC program | 1,901 | 1,075 | — |
| Change in fair value of derivative and warrant liability | — | 606 | 4,920 |
| Amortization of debt issuance costs | 5,400 | 2,287 | 4,746 |
| Non-cash lease amortization | 3,346 | 3,189 | 3,586 |
| Loss on debt extinguishment | 837 | — | — |
| Foreign currency gain/loss from remeasurement | 143 | ||
| Deferred income taxes | 30 | 2,127 | 112 |
| Other, net | 93 | — | — |
| Changes in operating assets and liabilities: | |||
| Accounts receivable, net | (627) | (1,354) | 1,515 |
| Prepaid expenses | 1,590 | (1,238) | (168) |
| Other current assets | (821) | 299 | (917) |
| Contract assets | (19,578) | (8,658) | — |
| Other non-current assets | 671 | (274) | (1,470) |
| Accounts payable | (1,162) | 302 | 424 |
| Accrued liabilities | 4,266 | 116 | 3,671 |
| Operating lease liabilities | (3,657) | (3,912) | (3,565) |
| Deferred revenue | (4,135) | (7,646) | (10,281) |
| Other liabilities | 2,131 | 2,946 | (1,034) |
| Net cash used in operating activities | (68,265) | (94,019) | (66,177) |
| Cash flows from investing activities: | |||
| Purchases of property and equipment | (392) | (1,329) | (636) |
| Net cash used in investing activities | (392) | (1,329) | (636) |
| Cash flows from financing activities: | |||
| Proceeds from the issuance of Series A Preferred Stock, net of issuance costs | 24,942 | — | — |
| Proceeds from sales of common stock under the ELOC program, net of issuance cost | 71,615 | — | — |
| Proceeds from sales of common stock under the Sales Agreement | 12,412 | — | — |
| Proceeds from issuance of debt, net of issuance costs | 85,087 | — | 44,738 |
| Proceeds from the issuance of common stock | 9,369 | 4,160 | 2,490 |
| Proceeds from Business Combination and PIPE, net of transaction costs | — | 90,689 | — |
| Payments on notes payable | (35,029) | (11,545) | — |
| Payments on finance leases | (159) | (1,303) | (2,575) |
| Net cash provided by financing activities | 168,237 | 82,001 | 44,653 |
| Effects of exchange rate changes on cash | (20) | — | — |
| Net change in cash, cash equivalents, and restricted cash equivalents | 99,560 | (13,347) | (22,160) |
| Cash, cash equivalents, and restricted cash equivalents, beginning of year | 9,475 | 22,822 | 44,982 |
| Cash, cash equivalents, and restricted cash equivalents, end of year | $109,035 | $9,475 | $22,822 |
| Reconciliation to amounts on the consolidated balance sheets: | |||
| Cash and cash equivalents | $95,260 | $9,245 | $21,626 |
| Current portion of restricted cash equivalents | — | — | 460 |
| Non-current portion of restricted cash equivalents | 13,775 | 230 | 736 |
| Total cash, cash equivalents, and restricted cash equivalents shown in the consolidated statements of cash flows | $109,035 | $9,475 | $22,822 |
SOUNDHOUND, INC.
For the Year Ended December 31, 2023 and 2022
(In thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Supplemental disclosures of cash flow information: | |||
| Cash paid for interest | $11,984 | $4,364 | $2,631 |
| Cash paid for income taxes | $2,356 | $1,044 | $263 |
| Noncash investing and financing activities: | |||
| Conversion of convertible preferred stock to common stock | $10,755 | $— | $— |
| Debt discount through issuance of common stock warrants | $4,136 | $— | $4,367 |
| Issuance of common stock to settle commitment shares related to the ELOC program | $915 | ||
| 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 | $— | $650 | $3,422 |
| Operating lease liabilities and right-of-use assets through adoption of ASC 842 | $— | $— | $11,428 |
| Issues of series C redeemable convertible preferred stock for exercise of warrants | $— | $— | $5,816 |
| Property and equipment acquired under finance leases or debt | $— | $— | $584 |
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