SoundHound AI Stock Cuts in Half as Growth Slows Despite Potential in Restaurant Industry

SoundHound AI's (SOUN) stock has been cut in half since June due to lackluster financials and slowing growth.

Q2 revenue was up 42% but bookings growth continues to rapidly decelerate. Bookings were only up 20% in Q2.

SOUN is still losing lots of money, with a Q2 net loss of $29.1M. It also recently took on high interest debt.

SOUN has potential in the restaurant industry but its near-term growth outlook is concerning given the weak bookings trends.

With high cash burn, debt, and slowing growth, SOUN remains a very risky investment trading at a high valuation.