SoundHound AI's (NASDAQ: SOUN) stock plunged 19% on March 1, after the speech and audio recognition software developer posted its fourth-quarter earnings report. Its revenue rose 80% year over year to $17.1 million but missed analysts' expectations by $0.6 million. It narrowed its net loss from $30.9 million to $18.0 million, or $0.07 per share, but it still missed the consensus forecast by a penny.

SoundHound narrowed its loss according to adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) from $18.8 million to $3.7 million, but it also missed its goal of turning profitable on an adjusted EBITDA basis by the fourth quarter.

Image source: Getty Images.

Continue reading

Source Fool.com