SOUNDHOUND AI, INC.
For the period ended Dec 31, 2025. Filed Mar 2, 2026.
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FY2025 · Filed Mar 2, 2026
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, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Cash flows from operating activities: | |||
| Net loss | $(14,006) | $(350,681) | $(88,937) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation and amortization | 34,130 | 16,054 | 2,313 |
| Stock-based compensation | 80,620 | 33,145 | 27,931 |
| Loss on change in fair value of ELOC program | — | — | 1,901 |
| Amortization of debt issuance cost | — | 1,621 | 5,400 |
| Non-cash lease amortization | 2,906 | 2,613 | 3,346 |
| Loss on disposal of property and equipment | 42 | — | — |
| Amortization of capitalized commissions | 1,627 | — | — |
| Loss on early extinguishment of debt | — | 15,629 | 837 |
| Foreign currency gain/loss from remeasurement | (947) | (24) | 143 |
| Change in fair value of contingent acquisition liabilities | (163,127) | 222,670 | — |
| Change in fair value of derivative | (4,676) | — | — |
| Deferred income taxes | 1,338 | (12,183) | 30 |
| Other, net | 1,951 | (580) | 93 |
| Changes in operating assets and liabilities, net of effects of acquisitions: | |||
| Accounts receivable, net | (1,304) | (10,264) | (627) |
| Prepaid expenses | — | — | 1,590 |
| Other current assets | (2,956) | (3,131) | (821) |
| Contract assets | (22,420) | (7,304) | (19,578) |
| Other non-current assets | (4,498) | (196) | 671 |
| Accounts payable | 1,930 | (7,636) | (1,162) |
| Accrued liabilities | (3,918) | 1,846 | 4,266 |
| Other current liabilities | (2,334) | (642) | — |
| Operating lease liabilities | (2,742) | (3,214) | (3,657) |
| Deferred revenue | (4,956) | (6,186) | (4,135) |
| Other non-current liabilities | 5,118 | (415) | 2,131 |
| Net cash used in operating activities | (98,222) | (108,878) | (68,265) |
| Cash flows from investing activities: | |||
| Purchases of property and equipment | (902) | (640) | (392) |
| Capitalized software development costs | (4,000) | — | — |
| Payment related to acquisitions, net of cash acquired | (54,602) | (11,732) | — |
| Net cash used in investing activities | (59,504) | (12,372) | (392) |
| 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, Execute Equity Distribution Agreement and Second Equity Distribution Agreement | 201,522 | 407,270 | 12,412 |
| Proceeds from exercise of stock options and employee stock purchase plan | 10,835 | 29,685 | — |
| Proceeds from warrants exercised | 114 | 23 | — |
| Payment of financing costs associated with the Sales Agreement, Equity Distribution Agreement, Execute Equity Distribution Agreement, and Second Equity Distribution Agreement | (4,030) | (10,357) | — |
| Proceeds from the issuance of debt, net of issuance costs | — | — | 85,087 |
| Proceeds from the issuance of common stock | — | — | 9,369 |
| Payments on Term Loan and Amelia Debt | — | (215,373) | (35,029) |
| Payment to settle contingent holdback liabilities from SYNQ3 acquisitions | (198) | (217) | — |
| Payments on finance leases | (169) | (125) | (159) |
| Net cash provided by financing activities | 208,074 | 210,906 | 168,237 |
| Effects of exchange rate changes on cash | (98) | 225 | (20) |
| Net change in cash, cash equivalents, and restricted cash equivalents | 50,250 | 89,881 | 99,560 |
| Cash, cash equivalents, and restricted cash equivalents, beginning of year | 198,916 | 109,035 | 9,475 |
SOUNDHOUND, INC.
(In thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Cash, cash equivalents, and restricted cash equivalents, end of year | $249,166 | $198,916 | $109,035 |
| Reconciliation to amounts on the consolidated balance sheets: | |||
| Cash and cash equivalents | $248,490 | $198,240 | $95,260 |
| Current portion of restricted cash equivalents | — | — | — |
| Non-current portion of restricted cash equivalents | 676 | 676 | 13,775 |
| Total cash, cash equivalents, and restricted cash equivalents shown in the consolidated statements of cash flows | $249,166 | $198,916 | $109,035 |
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Supplemental disclosures of cash flow information: | |||
| Cash paid for interest | $26 | $6,337 | $11,984 |
| Cash paid for income taxes, net of refunds | $4,370 | $2,717 | $2,356 |
| Noncash investing and financing activities: | |||
| Conversion of Series A Preferred Stock to Class A common stock | $— | $14,187 | $10,755 |
| 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 | $3,922 | $189 | $— |
| Deferred offering costs reclassified to additional paid-in capital | $210 | $220 | $— |
| Purchases of property and equipment under accrued liabilities | $163 | $— | $— |
| Operating lease liabilities arising from obtaining right-of-use assets | $1,001 | $1,559 | $— |
| 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 |
| 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 | $— |
| Fair value of deferred cash consideration under Interactions acquisition | $1,150 | $— | $— |
| Fair value of contingent earnout consideration under Interactions acquisition | $9,900 | $— | $— |
| Stock-based compensation included in capitalized software development costs | $2,431 | $— | $— |
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