SoundHound AI Down 71% Despite Revenue Growth

SoundHound AI's stock is about 71% below its Oct 2025 intraday high, while Q2 revenue rose 45% to $61.9M and adjusted EBITDA loss improved to $9.6M. The company holds $203M cash, no debt, and expects 2026 revenue of $230–260M; after acquiring LivePerson it targets $350–400M in 2027. Growth is bolstered by acquisitions and nearly $60M operating cash burn in H1, raising questions about underlying organic momentum.