I've been watching SOUN for a while and I honestly don't know what to make of it anymore
The stock has been absolutely destroyed, so I get why people are bearish.
But then I look at the actual company and it doesn't look completely dead.
Q2 revenue was $61.9M, up 45% YoY.
And they're actually getting their stuff into cars now.
Kia launched the Sorento in India with SoundHound's generative AI voice assistant.
They also just launched OASYS Edge, which is basically their attempt to get the AI running directly inside cars and other devices.
That's the part that caught my attention.
I'm not saying one Kia model is going to suddenly make SOUN worth $50.
It obviously won't.
The question is whether these deployments start turning into more cars, more OEMs and more countries.
Because if that happens, the revenue story could look very different a couple of years from now.
Of course, there are plenty of reasons to hate this stock:
They're still losing money.
There has been dilution.
The valuation isn't exactly cheap.
And they're competing against some pretty fucking big companies.
So I can understand the short thesis.
I'm just wondering if the market has already priced in most of the bad news while the company is quietly starting to get actual products deployed.
I'm watching the next few automotive deals more than anything else.
Either this thing eventually proves the bears right, or we look back at $6 and wonder why nobody cared.
Curious what I'm missing. Bear case welcome.