SoundHound AI, Inc.

Good day, everyone, and thank you for standing by. Welcome to the SoundHound Q4 2025 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you'll need to press star 1-1 on your telephone. You'll then hear an automated message advising your hand is raised. To withdraw your question, please press star 1-1 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Scott Smith, Head of Investor Relations. Please go ahead.

Good afternoon, and thank you for joining our fourth quarter and full year 2025 conference call. With me today is our CEO, Kayvon Mahajer, and our CFO, Nitesh Charan. We will begin with some short remarks before moving to Q&A. We'd also like to remind everyone that we'll be making forward-looking statements on this call. Actual results could differ materially from those suggested by our forward-looking statements. Please refer to our filings with the SEC for a detailed discussion of the risks and uncertainties that could affect our business and for discussion statements that qualify as forward-looking statements. In addition, we may discuss certain non-GAAP measures. Please refer to today's press release for more detailed financial results and further details on the definitions, limitations, and uses of those measures and reconciliations from GAAP to non-GAAP. Also note that the forward-looking statements on this call are based on information available to us as of today's date. We undertake no obligation to update any forward-looking statements except as required by law. Finally, this call is being audio webcast in its entirety on our investor relations website. An audio replay will be available following today's call. With that, I'd like to turn the call over to our CEO, Kayvon Mahajer. Please go ahead, Kayvon.

Thank you, Scott, and thank you to everyone for joining the call today. 2025 was a record year for SoundHound, nearly doubling our revenue year over year. We also had a record fourth quarter. Revenue was up 59%, while all key profit metrics improved. We broke another record in Q4. We signed over 100 customer deals, making it our biggest quarter yet. We went across different industries in a variety of regions, just to name a few. We signed a new prominent automotive logo in Japan to use our AI assistance with a seven-digit unit commitment. In the US, we signed a multi-year deal with one of the largest telecommunications companies in the world to use our technology. We signed a multi-year global deal with one of the largest athletic shoes and apparel companies to power their AI customer service. We closed deals with healthcare providers, universities, insurance companies, financial institutions, e-commerce merchants, retail, military, and many more. Our execution with channel partners was also exceptional, with multiple seven-figure deals in 2025. I'll dive into other business highlights specific to Q4 shortly, but first I wanted to touch on a few recent market dynamics. The power of AI is disrupting traditional software and services companies, and this is creating further tailwinds for SoundHound. In this inevitable AI transformation, companies need a partner like SoundHound to help them rapidly reinvent themselves. We partner with our customers to overcome their challenges and achieve their ambitions, creating incredible end-user experiences for their employees and customers. With the exponential advances in AI, we believe we are entering a new era where companies with deep tech and data modes will create the most value. This makes Samham very well positioned with decades of deep tech innovation and data accumulation. Samham AI was founded with a mission to deliver voice and conversational AI experiences that are deeply integrated into user environments and deliver value where it matters most. This early vision now positions us perfectly for the agentic AI revolution we are seeing today. We believe our agentic platform is the only solution that is ready to be deployed across a multitude of vertical use cases and a huge and growing range of touchpoints and modalities from call centers to cars, robots, phones, apps, TVs, and websites, all with a unified AI agent framework. This means that our customers can build an agent once and deploy it anywhere. At SoundHound, we offer the best models and innovation, regardless of where they come from. We can give customers access to big tech models, emerging models, other third-party models, as well as SoundHound's own models that consistently outperform big tech players. With us, our customers will have access to the latest and greatest technologies as fast as they become available. And because of our deep expertise in conversational AI, we are able to optimize our own technologies to meet customer needs. This ranges from offering Polaris, our custom speech recognition foundation model, to our unique method of arbitrating the conversation across on-device, cloud, on-premise, and even human augmented services. This combination of capabilities is the foundation of our unique and differentiated agentic plus framework, which blends agentic, deterministic, and human assisted understanding, representing the full mix of what our customers want. In addition, Sanhan has a massive amount of data and has processed billions of interactions over the years across all major global languages supported by having a physical presence in multiple markets and geographies. This allows us to compete and win against big tech, while new players are faced with the traditional limitations of scale and reach we've long since overcome. With those considerations in mind, we believe Sanhan is the strongest bet in an ever-changing world of AI evolution. We recently previewed our agentic platform to public audiences, and they were blown away. The Consumer Technology Association, the body that organizes CES, consistently called our tech as an example of one of the most exciting trends at the whole show. Our customers agree, and we are proud to navigate this exciting and dynamic period by their side. Here are some proof points as I highlight some of the many wins in this quarter alone. In automotive, besides the Japanese OEM previously mentioned, other notable customer wins include a new Korean OEM with a global footprint, an iconic Italian manufacturer of high-performance luxury sports cars, as well as a Chinese and Vietnamese manufacturer. We also signed our first two-wheeler and have seen strong interest from at least a half-dozen other OEMs. Stellantis also expanded further with the adoption of live generative AI capabilities for real-time responses, and we added an Italian commercial truck company which will offer SoundHand Voice Assistant to its wide range of vehicles. We also signed a multi-year renewal with one of the largest American automobile manufacturers to deploy our enterprise AI solutions. In voice commerce, coming off a successful CES, we are seeing lots of momentum. Thanks to our deep penetration in restaurants, this highly anticipated solution is quickly advancing to go live in the U.S. with a prominent German automotive OEM. The list of engaged OEMs is growing rapidly, and we are now starting to see early signs of the flywheel effect taking shape. In January, we also unveiled our fully agentic voice platform for in-vehicle and on-TV commerce and showcased a leading smart TV manufacturer and a national pizza restaurant working together seamlessly. The solution is expected to go live later this year. And we are quickly building out an ecosystem well beyond food ordering from the car or TV, with Parkopedia and OpenTable partnerships announced in Q4, and further plans to extend to events and travel booking very soon. In restaurants, our Voice Insight solution is seeing high demand with a number of top 25 restaurant chains signing up to collect data for drive-thru efficiency. Panda Express also expanded into dozens more locations, while Casey's General Store agreed to a multi-year renewal and added smart answering to handle non-food ordering calls. We had franchise wins with both IHOP and Jersey Mike's. In retail and consumer goods, we signed one of the fastest-growing global health clubs in the U.S. and a multi-hundred-unit personal care company to adopt our outbound innovative automated solution for customer retention campaigns. And for managing inbound calls, we signed two nonprofit organizations, one that has a large network of thrift stores and another one with a large number of fitness and health locations. In Enterprise AI, we signed a record number of deals across various solutions and verticals, including a financial services, a New York-based global financial services platforms company, a large American multinational payment card services corporation, and BNP Paribas. In healthcare, an eyewear and optical retailer which operates or manages over 700 stores in 40 U.S. states. An independent healthcare practice that supports more than 1,300 locations in 45 states. And a Virginia-based healthcare and wellness services with over 80 healthcare facilities. In insurance, a Fortune 100 multinational insurance and asset management company headquartered in Germany, a global Japanese insurance company that has offices spread throughout the U.S., and one of the first motor clubs in the U.S. with more than 16 million members across 21 states. In government and education, a U.S. government-sponsored enterprise helping to make housing more accessible and affordable, a large Florida-based university to support their health system, And likewise, we signed on with a local government to a city in Florida. In Hospitality, one of the world's leading providers of food and support services operating in over 25 countries. And an American ticket sales and distribution company with operations in over 35 countries around the world. In telecommunications, in addition to the large telco I mentioned previously, we signed a European telecommunications company that provides cable television, broadband internet, and fixed telephony, and a large British broadcast and telecommunications company. I mentioned some of the success we've had with large seven-figure deals in 2025 with our channel partners, and in Q4 we continue to build out our ecosystem with the following partners. With one of the largest telecommunications companies in the world, we are adding Sanhan Agentech AI call center automation to SMBs in their large business marketplace. In addition, we partner with BridgePoint, which expands our enterprise AI adoption across their vast network, and a large customer experience management company providing services to approximately 150,000 businesses. We renewed our partnership with a global technology and professional services company that delivers technology solutions and mission services to every major agency across the US government and a large multinational professional services firm to provide our solutions to financial services firms across Spain. Importantly, our enterprise AI technology is making a difference and helping businesses tackle some of their biggest challenges. One large healthcare network reported that their AI agent, built on Sanhan's platform, now handles more than a third of all patient appointment scheduling, helping to unclog the system that gets patients what they need more quickly. This customer is already looking to expand our platform to tackle additional use cases, like prescription refills and pharmacy inquiries. In a completely different industry, telecommunications, another customer reported a 20% reduction in the labor costs associated with billing disputes thanks to AI agents that analyze invoices and execute adjustments. And in auto insurance, our platform was able to help a customer increase containment by 10 percentage points with respect to very complex use cases in under 60 days. In short, we are seeing great traction because our technology is delivering real-world results. In closing, we had a record 2025. This is happening because we are an AI-first company, and customers from a broad range of verticals are coming to us to automate their complex processes and make them more human-like to better serve their customers. We are leading the charge in a market disruption that is in the very early stages. We have a massive time, and we are poised to win. With that, I'll now turn the call over to Nitesh to talk about our financial performance, key growth drivers, and business outlook.