I traffic in evidence and opinion. Ad hominems earn an instant block.
Nov 11 • 9 tweets • 3 min read
$SOUN SoundHound presented a rosy picture of itself as a high growth "AI" company when they reported. But the 10-Q again reveals a cash burning roll-up in decline, propped up by accounting games and poor acquisitions of unprofitable & declining last generation companies. 🧵 1/
Last week, $SOUN reported $42 million in revenue burning $32 million of CFO in the quarter. While headline revenue growth was 68% YoY, the 10-Q showed pro forma revenue decline when adjusting for M&A.
Q3'25 pro forma revenue declined 11% YoY to $52.5 mm from $58.7 mm. 2/
Mar 24, 2024 • 11 tweets • 4 min read
This past Tues 3/19, @CapybaraShort published on $SOUN (). Amazingly, a sell-side analyst at Cantor downgraded the stock and validated the short report’s key points. I've never seen that. Hat tip to TP for this 🧵cc: @CulperResearch @StockJabber 🐕 1/n capybararesearch.com/post/soundhoun…
To summarize, $SOUN is 1) losing all of its key customers; 2) pulling forward fake, one-time revenue as a result of these contracts being broken; 3) removing disclosures to obfuscate the decline in its business; 🐕 2/n
To summarize, $SOUN is 1) losing all of its key customers; 2) pulling forward fake, one-time revenue as a result of these contracts being broken; 3) removing disclosures to obfuscate the decline in its business; 🐕 2/n