SoundHound AI drops after delay in filing annual report
ReutersMar 4, 2025 11:42 AM
Shares of voice AI platform SoundHound AI SOUN.O fall 10.2% to $9.27 premarket
SOUN says it is unable to file the form 10-K, an annual report required by the U.S. SEC
Also says company identified material weaknesses in its internal control over financial reporting, which continued to exist as of December 31, 2024
Expects to file its annual report within the fifteen-day period, no later than by March 18 this year
Co completed acquisition of Synq3 and Amelia Holdings last year
Due to the complexity of accounting for the acquisitions, it requires additional time to prepare the financial statements and the accompanying notes disclosed in the co's annual report
Up to last close, SOUN had risen ~71% over the past 12 months
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