Estados financieros detallados de SoundHound AI, Inc. (SOUN): cuenta de resultados, balance general y flujo de caja. Sigue la evolución de márgenes, deuda, liquidez y rentabilidad año a año con hasta 20 años de histórico.
Resumen del Análisis
SoundHound AI, Inc. registró ingresos de $168.9M en el último ejercicio fiscal, con un CAGR de 5 años del 67.0%.
Márgenes de los últimos 12 meses: margen bruto 37.4%, margen operativo -89.7%, margen neto -67.5%.
Al precio actual de $5.93, SOUN presenta beneficios negativos (P/E no significativo) y un ROE del -30.22%. La capitalización bursátil es de $2.6B.
Cuenta de Resultados (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $7.7M | $13.0M | $21.2M | $31.1M | $45.9M | $84.7M | $168.9M |
| Coste de Ventas | $4.5M | $5.9M | $6.6M | $9.6M | $11.3M | $43.3M | $97.4M |
| Beneficio Bruto | $3.2M | $7.2M | $14.6M | $21.5M | $34.6M | $41.4M | $71.6M |
| I+D | $47.8M | $54.3M | $59.2M | $76.4M | $51.4M | $70.6M | $98.2M |
| Generales y Administrativos | $20.0M | $18.9M | $20.8M | $50.8M | $47.2M | $82.4M | $143.8M |
| Gastos Operativos | $67.7M | $73.2M | $79.9M | $127.2M | $103.2M | $382.7M | $94.8M |
| Beneficio Operativo | -$64.6M | -$66.0M | -$65.3M | -$105.7M | -$68.6M | -$341.4M | -$23.3M |
| EBITDA | -$59.9M | -$65.4M | -$61.7M | -$99.7M | -$62.6M | -$329.1M | $25.5M |
| Gastos por Intereses | 0 | $2.3M | $8.3M | $6.9M | $16.7M | $12.2M | $670000 |
| Beneficio Antes de Impuestos | -$64.2M | -$73.7M | -$79.1M | -$113.8M | -$85.0M | -$359.9M | -$9.3M |
| Impuestos | $253000 | $738000 | $456000 | $2.9M | $3.9M | -$9.2M | $4.7M |
| Beneficio Neto | -$64.5M | -$74.4M | -$79.5M | -$116.7M | -$88.9M | -$350.7M | -$14.0M |
| BPA | $-5.56 | $-4.44 | $-0.40 | $-0.74 | $-0.40 | $-1.04 | $-0.03 |
| BPA Diluido | $-5.56 | $-4.44 | $-0.40 | $-0.74 | $-0.40 | $-1.04 | $-0.03 |
| Acciones en Circulación (Diluidas) | $11.6M | $17.5M | $200.0M | $157.3M | $229.3M | $338.5M | $405.4M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $42.0M | $55.1M | $44.2M | $61.9M |
| Beneficio Bruto | $17.9M | $26.4M | $8.9M | $22.8M |
| Beneficio Operativo | -$115.9M | $42.6M | -$61.9M | -$47.0M |
| EBITDA | -$92.0M | $84.3M | -$14.2M | -$35.9M |
| Beneficio Neto | -$109.3M | $40.1M | -$25.0M | -$42.8M |
| BPA | $-0.27 | $0.10 | $-0.06 | $-0.10 |
| BPA Diluido | $-0.27 | $0.10 | $-0.06 | $-0.10 |
Balance (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $24.6M | $43.7M | $21.6M | $9.2M | $95.3M | $198.2M | $248.5M |
| Inversiones a Corto | $13.6M | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $5.7M | $3.6M | $2.1M | $5.1M | $15.8M | $49.8M | $70.5M |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $45.3M | $48.9M | $27.5M | $17.7M | $113.5M | $255.5M | $329.1M |
| Inmovilizado Material | $7.1M | $10.4M | $16.4M | $11.6M | $6.7M | $5.9M | $6.7M |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | $101.7M | $122.3M |
| Activos Intangibles | $7.0M | $8.3M | 0 | 0 | 0 | $174.9M | $181.4M |
| Activos Totales | $64.2M | $63.6M | $49.2M | $38.0M | $151.1M | $554.0M | $688.2M |
| Cuentas por Pagar | $2.2M | $3.3M | $3.8M | $2.8M | $1.7M | $5.6M | $10.6M |
| Deuda a Corto | 0 | 0 | $59.8M | $16.7M | 0 | 0 | 0 |
| Pasivos Corrientes | $21.0M | $24.5M | $87.7M | $38.6M | $24.2M | $67.7M | $71.7M |
| Deuda a Largo | 0 | $13.1M | 0 | $18.3M | $84.3M | 0 | 0 |
| Pasivos Totales | $44.0M | $340.0M | $392.4M | $74.6M | $123.0M | $371.3M | $224.4M |
| Reservas | -$232.8M | -$307.2M | -$386.7M | -$503.4M | -$592.4M | -$943.1M | -$957.1M |
| Patrimonio Neto | $20.1M | -$276.4M | -$343.2M | -$36.6M | $28.2M | $182.7M | $463.8M |
| Deuda Total | $6.3M | $16.6M | $73.3M | $44.1M | $90.2M | $4.3M | $4.2M |
| Deuda Neta | -$31.9M | -$27.1M | $51.7M | $34.9M | -$5.1M | -$193.9M | -$244.3M |
| Capital Circulante | $24.3M | $24.4M | -$60.3M | -$20.9M | $89.3M | $187.8M | $257.4M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $268.9M | $248.5M | $215.6M | $202.8M |
| Activos Totales | $702.2M | $688.2M | $645.0M | $667.9M |
| Pasivos Totales | $303.0M | $224.4M | $182.9M | $177.5M |
| Patrimonio Neto | $399.2M | $463.8M | $460.7M | $490.4M |
| Deuda Total | $4.8M | $4.2M | $6.2M | $5.4M |
Flujo de Caja (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$64.5M | -$74.4M | -$79.5M | -$115.4M | -$88.9M | -$350.7M | -$14.0M |
| Amortizaciones | $4.7M | $6.0M | $9.1M | $7.2M | $2.3M | $20.3M | $37.0M |
| Compensación en Acciones | $3.3M | $5.9M | $6.3M | $28.8M | $27.9M | $33.1M | $80.6M |
| Cambio en Capital Circulante | $3.2M | $11.8M | -$11.8M | -$19.7M | -$21.3M | -$37.1M | -$38.1M |
| Flujo de Caja Operativo | -$46.0M | -$46.3M | -$66.2M | -$94.0M | -$68.3M | -$108.9M | -$98.2M |
| Inversiones (CapEx) | -$5.1M | -$2.2M | -$636000 | -$1.3M | -$392000 | -$640000 | -$4.9M |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 | -$11.7M | -$54.6M |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$51.1M | -$48.5M | -$66.8M | -$95.3M | -$68.7M | -$109.5M | -$103.1M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$32.7M | -$21.9M | -$26.3M | -$33.7M |
| Inversiones (CapEx) | -$172000 | -$2.5M | -$468000 | -$354000 |
| Flujo de Caja Libre | -$32.8M | -$24.4M | -$26.7M | -$34.1M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $19.7M | $19.7M | $18.5M | $20.6M |
Crecimiento y Márgenes (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +69.6% | +62.8% | +46.9% | +47.4% | +84.6% | +99.4% |
| Crecimiento Beneficio Neto (anual) | | -15.4% | -6.9% | -46.7% | +23.8% | -294.3% | +96.0% |
| Crecimiento BPA (anual) | | +20.1% | +91.0% | -85.0% | +45.9% | -160.0% | +96.7% |
| Cambio en Acciones (anual) | | +50.5% | +1045.6% | -21.4% | +45.7% | +47.6% | +19.8% |
| Crecimiento FCF (anual) | | +5.2% | -37.9% | -42.7% | +28.0% | -59.5% | +5.8% |
| Margen Bruto | 41.2% | 55.0% | 68.9% | 69.2% | 75.4% | 48.9% | 42.4% |
| Margen Operativo | -841.1% | -507.1% | -308.2% | -339.5% | -149.6% | -403.0% | -13.8% |
| Margen EBITDA | -780.3% | -502.1% | -290.9% | -320.3% | -136.5% | -388.6% | 15.1% |
| Margen Neto | -839.7% | -571.6% | -375.2% | -374.9% | -193.9% | -414.1% | -8.3% |
| Margen FCF | -666.2% | -372.3% | -315.2% | -306.3% | -149.7% | -129.3% | -61.0% |
| Tasa Impositiva Efectiva | -0.4% | -1.0% | -0.6% | -2.5% | -4.6% | 2.6% | -51.0% |
Datos por Acción (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-4.41 | $-2.78 | $-0.33 | $-0.61 | $-0.30 | $-0.32 | $-0.25 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $11.6M | $17.5M | $200.0M | $157.3M | $229.3M | $338.5M | $405.4M |
Qué mirar en empresas de Technology
- Crecimiento de ingresos 3a (≥15%/año) — Valida tracción sostenida, no un año puntual.
- Margen bruto (Depende del sub-sector) — SaaS ≥70%, Internet ≥55%, Semis ≥45%, Hardware ≥35%.
- FCF / Ingresos (≥20%) — Caja real generada. Muchas tech maquillan beneficios non-GAAP.
- ROIC (≥15%) — Eficiencia del capital reinvertido — la primera métrica de Buffett.
- SBC / Ingresos (<10% saludable) — Stock-based compensation. Dilución silenciosa: >20% destruye valor.
- Deuda Neta / EBITDA (≤2x (1,5x SaaS)) — Resistencia en recesiones y subidas de tipos.
Rentabilidad
| Rentabilidad sobre capital | -30.22% |
| Rentabilidad sobre capital invertido | -30.39% |
| Rentabilidad sobre activos | -20.52% |
| Margen bruto | 37.37% |
| Margen operativo | -89.68% |
| Margen neto | -67.45% |
Salud financiera
| Deuda / Patrimonio | 0.01 |
| Ratio corriente | 3.91 |
| Piotroski F-Score | 3 |
| Altman Z-Score | 9.44 |
Ratios Clave (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -1.35 | -1.69 | -18.75 | -2.39 | -5.30 | -19.08 | -288.15 |
| P/VC | 4.32 | -0.47 | -4.37 | -7.62 | 17.26 | 36.76 | 8.72 |
| P/V | 11.33 | 10.06 | 70.78 | 8.95 | 10.60 | 79.29 | 23.93 |
| Margen Bruto | 41.2% | 55.0% | 68.9% | 69.2% | 75.4% | 48.9% | 42.4% |
| Margen Operativo | -841.1% | -507.1% | -308.2% | -339.5% | -149.6% | -403.0% | -13.8% |
| Margen Neto | -839.7% | -571.6% | -375.2% | -374.9% | -193.9% | -414.1% | -8.3% |