BUZZ-SoundHound AI drops after delay in filing annual report

Reuters
03-04
BUZZ-SoundHound AI drops after delay in filing annual report

** 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

(Reporting by Jaspreet Singh in Bengaluru)

((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))

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