| June 30, 2026 | December 31, 2025 | ||||||||||
| (Unaudited) | |||||||||||
| ASSETS | |||||||||||
| Current assets: | |||||||||||
| Cash and cash equivalents | $ | 202,776 | $ | 248,490 | |||||||
| Restricted cash equivalents | — | — | |||||||||
Accounts receivable, net of allowances of $3,378 and $2,254 as of June 30, 2026 and December 31, 2025, respectively | 27,072 | 32,336 | |||||||||
| Contract assets and unbilled receivable, net | 34,834 | 38,189 | |||||||||
| Other current assets | 12,363 | 10,114 | |||||||||
| Total current assets | 277,045 | 329,129 | |||||||||
| Restricted cash equivalents, non-current | 676 | 676 | |||||||||
| Right-of-use assets | 5,240 | 3,791 | |||||||||
| Property and equipment, net | 2,498 | 2,928 | |||||||||
| Goodwill | 122,277 | 122,277 | |||||||||
| Intangible assets, net | 190,207 | 181,395 | |||||||||
| Deferred tax asset | 28 | 29 | |||||||||
| Contract assets and unbilled receivable, non-current, net | 48,073 | 29,906 | |||||||||
| Other non-current assets | 21,843 | 18,042 | |||||||||
| Total assets | $ | 667,887 | $ | 688,173 | |||||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||||||
| Current liabilities: | |||||||||||
| Accounts payable | $ | 7,572 | $ | 10,562 | |||||||
| Accrued liabilities | 31,441 | 26,325 | |||||||||
| Operating lease liabilities | 2,456 | 1,812 | |||||||||
| Finance lease liabilities | 226 | 332 | |||||||||
| Income tax liability | 3,828 | 2,662 | |||||||||
| Deferred revenue | 23,738 | 24,042 | |||||||||
| Contingent acquisition liabilities | — | 4,400 | |||||||||
| Other current liabilities | 1,614 | 1,604 | |||||||||
| Total current liabilities | 70,875 | 71,739 | |||||||||
| Operating lease liabilities, net of current portion | 2,756 | 2,069 | |||||||||
| Deferred revenue, net of current portion | 5,161 | 8,195 | |||||||||
| Contingent acquisition liabilities, net of current portion | 83,637 | 129,227 | |||||||||
| Deferred tax liabilities | 1,403 | 1,363 | |||||||||
| Income tax liability, net of current portion | 2,177 | 2,254 | |||||||||
| Other non-current liabilities | 11,448 | 9,540 | |||||||||
| Total liabilities | 177,457 | 224,387 | |||||||||
| Commitments and contingencies | |||||||||||
| Stockholders’ equity: | |||||||||||
Series A Preferred Stock, $0.0001 par value; 1,000,000 shares authorized; 0 and 0 shares issued and outstanding, aggregate liquidation preference of $0 and $0 as of June 30, 2026 and December 31, 2025, respectively | — | — | |||||||||
Class A Common Stock, $0.0001 par value; 755,000,000 shares authorized as of June 30, 2026 and December 31, 2025; 403,287,100 and 390,070,691 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively | 38 | 37 | |||||||||
Class B Common Stock, $0.0001 par value; 44,000,000 shares authorized; 32,535,408 shares issued and outstanding as of June 30, 2026 and December 31, 2025 | 3 | 3 | |||||||||
| Additional paid-in capital | 1,515,141 | 1,420,672 | |||||||||
| Accumulated deficit | (1,024,911) | (957,066) | |||||||||
| Accumulated other comprehensive income | 159 | 140 | |||||||||
| Total stockholders’ equity | 490,430 | 463,786 | |||||||||
| Total liabilities and stockholders’ equity | $ | 667,887 | $ | 688,173 | |||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Revenues | $ | 61,897 | $ | 42,683 | $ | 106,092 | $ | 71,812 | |||||||||||||||
| Operating expenses: | |||||||||||||||||||||||
| Cost of revenues | 33,967 | 26,021 | 64,420 | 44,532 | |||||||||||||||||||
| Sales and marketing | 16,635 | 15,837 | 35,850 | 27,844 | |||||||||||||||||||
| Research and development | 27,130 | 25,805 | 53,330 | 50,561 | |||||||||||||||||||
| General and administrative | 25,989 | 18,230 | 51,665 | 36,637 | |||||||||||||||||||
| Change in fair value of contingent acquisition liabilities | (3,697) | 31,359 | (43,089) | (144,741) | |||||||||||||||||||
| Amortization of intangible assets | 5,171 | 3,482 | 9,885 | 6,933 | |||||||||||||||||||
| Total operating expenses | 105,195 | 120,734 | 172,061 | 21,766 | |||||||||||||||||||
| Income (loss) from operations | (43,298) | (78,051) | (65,969) | 50,046 | |||||||||||||||||||
| Other income, net: | |||||||||||||||||||||||
| Interest expense | (61) | (169) | (132) | (404) | |||||||||||||||||||
| Other income, net | 2,724 | 4,752 | 1,236 | 7,641 | |||||||||||||||||||
| Total other income, net | 2,663 | 4,583 | 1,104 | 7,237 | |||||||||||||||||||
| Income (loss) before provision for income taxes | (40,635) | (73,468) | (64,865) | 57,283 | |||||||||||||||||||
| Provision for income taxes | 2,182 | 1,256 | 2,980 | 2,075 | |||||||||||||||||||
| Net income (loss) | $ | (42,817) | $ | (74,724) | $ | (67,845) | $ | 55,208 | |||||||||||||||
| Earnings attributable to participating Class A Common Shares | — | — | — | (297) | |||||||||||||||||||
| Net income (loss) attributable to SoundHound common shareholders | $ | (42,817) | $ | (74,724) | $ | (67,845) | $ | 54,911 | |||||||||||||||
| Other comprehensive income: | |||||||||||||||||||||||
| Unrealized gains on investments | (1) | (33) | 19 | (27) | |||||||||||||||||||
| Comprehensive income (loss) | $ | (42,818) | $ | (74,757) | $ | (67,826) | $ | 54,884 | |||||||||||||||
| Net income (loss) per share: | |||||||||||||||||||||||
| Basic | $ | (0.10) | $ | (0.19) | $ | (0.16) | $ | 0.14 | |||||||||||||||
| Diluted | $ | (0.10) | $ | (0.19) | $ | (0.21) | $ | 0.13 | |||||||||||||||
| Weighted-average common shares outstanding: | |||||||||||||||||||||||
| Basic | 430,521,776 | 400,124,499 | 426,022,299 | 397,026,119 | |||||||||||||||||||
| Diluted | 438,648,450 | 402,043,468 | 434,240,315 | 414,145,877 | |||||||||||||||||||
| Six Months Ended June 30, | |||||||||||
| 2026 | 2025 | ||||||||||
| Cash flows used in operating activities: | |||||||||||
| Net income (loss) | $ | (67,845) | $ | 55,208 | |||||||
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | |||||||||||
| Depreciation and amortization | 21,071 | 15,529 | |||||||||
| Stock-based compensation | 39,168 | 41,250 | |||||||||
| Loss on disposal of property and equipment | — | 42 | |||||||||
| Non-cash lease amortization | 1,658 | 1,388 | |||||||||
| Amortization of capitalized commissions | 999 | — | |||||||||
| Bad debt expenses | 3,478 | — | |||||||||
| Foreign currency gain/loss from remeasurement | 529 | (871) | |||||||||
| Change in fair value of contingent acquisition liabilities | (43,089) | (144,741) | |||||||||
| Change in fair value of derivative | 2,630 | (2,179) | |||||||||
| Deferred income taxes | 41 | — | |||||||||
| Other, net | 179 | 1,997 | |||||||||
| Changes in operating assets and liabilities: | |||||||||||
| Accounts receivable, net | 3,835 | 2,383 | |||||||||
| Other current assets | (3,297) | (2,696) | |||||||||
| Contract assets | (16,942) | (6,314) | |||||||||
| Other non-current assets | 94 | (1,846) | |||||||||
| Accounts payable | (2,984) | 4,567 | |||||||||
| Accrued liabilities | 5,341 | (6,210) | |||||||||
| Contingent acquisition liabilities | (1,335) | — | |||||||||
| Other current liabilities | (529) | (2,481) | |||||||||
| Operating lease liabilities | (1,632) | (1,359) | |||||||||
| Deferred revenue | (3,338) | (891) | |||||||||
| Other non-current liabilities | 1,999 | 3,542 | |||||||||
| Net cash used in operating activities | (59,969) | (43,682) | |||||||||
| Cash flows used in investing activities: | |||||||||||
| Purchases of property and equipment | (822) | (354) | |||||||||
| Capitalized software development costs | (5,404) | — | |||||||||
| Payment related to asset acquisition | (26,501) | — | |||||||||
| Net cash used in investing activities | (32,727) | (354) | |||||||||
| Cash flows provided by (used in) financing activities: | |||||||||||
| Proceeds from sales of Class A common stock under the Second Equity Distribution Agreement | 48,481 | 75,565 | |||||||||
| Proceeds from exercise of stock options and employee stock purchase plan | 3,923 | 2,766 | |||||||||
| Proceeds from warrants exercised | — | 13 | |||||||||
| Payment of financing costs associated with the Second Equity Distribution Agreement | (970) | (1,511) | |||||||||
| Payment to settle contingent acquisition liabilities | (3,538) | (198) | |||||||||
| Payment to settle deferred holdback liabilities | (1,000) | — | |||||||||
| Payments on finance leases | (197) | (29) | |||||||||
| Net cash provided by financing activities | 46,699 | 76,606 | |||||||||
| Effects of exchange rate changes on cash | 283 | (210) | |||||||||
| Net change in cash, cash equivalents, and restricted cash equivalents | (45,714) | 32,360 | |||||||||
| Cash, cash equivalents, and restricted cash equivalents, beginning of period | 249,166 | 198,916 | |||||||||
| Cash, cash equivalents, and restricted cash equivalents, end of period | $ | 203,452 | $ | 231,276 | |||||||
| Reconciliation to amounts on the condensed consolidated balance sheets: | |||||||||||
| Cash and cash equivalents | $ | 202,776 | $ | 230,340 | |||||||
| Non-current portion of restricted cash equivalents | 676 | 936 | |||||||||
Total cash, cash equivalents, and restricted cash equivalents shown in the condensed consolidated statements of cash flows | $ | 203,452 | $ | 231,276 | |||||||
| Supplemental disclosures of cash flow information: | |||||||||||
| Cash paid for interest | $ | 28 | $ | 2 | |||||||
| Cash paid for income taxes, net | $ | 1,310 | $ | 1,905 | |||||||
| Noncash investing and financing activities: | |||||||||||
| Right-of-use assets obtained in exchange for lease liabilities | $ | 2,886 | $ | — | |||||||
| Issuance of Class A Common Stock to settle contingent acquisition liabilities | $ | 2,028 | $ | 3,922 | |||||||
| Fair value of deferred cash consideration under other acquisition | $ | 1,519 | $ | — | |||||||
| Deferred offering costs reclassified to additional paid-in capital | $ | 49 | $ | 79 | |||||||
| Stock-based compensation included in capitalized software development costs | $ | 1,889 | $ | — | |||||||