SoundHound AI Acquires Amelia for $80M, Expects Revenue Surge

The acquisition aims to expand SoundHound's reach in key sectors like financial services and healthcare, projecting over $150M in combined revenue by 2025.

SoundHound AI reported a 54% year-over-year revenue increase to $13.5 million in Q2.
The company upgraded its 2024 revenue forecast to exceed $80 million.
SoundHound doubled its subscriptions and bookings backlog to $723 million.
Shares surged 21% on acquisition news but fell 5% after earnings report.
Amelia's integration is expected to bring $45 million in recurring revenue by 2025.