The company maintains a conservative capital structure with a debt-to-equity ratio of 0.01% as of 2026Q1, supported by $215.6 million in cash reserves.
| Total Current Assets | 288.81M | 329.13M | 255.52M | 113.54M | 17.7M | 27.47M | 48.95M | 45.28M |
| Cash & Short-Term Investments | 215.64M | 248.49M | 198.24M | 95.26M | 9.24M | 21.63M | 43.69M | 38.22M |
| Cash Only | 215.64M | 248.49M | 198.24M | 95.26M | 9.24M | 21.63M | 43.69M | 24.63M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 13.59M |
| Accounts Receivable | 62.82M | 62.24M | 49.8M | 15.83M | 5.08M | 2.11M | 3.62M | 5.72M |
| Days Sales Outstanding | 109.73 | 134.49 | 214.64 | 125.96 | 59.62 | 36.4 | 101.45 | 271.81 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - |
| Other Current Assets | 10.34M | 18.4M | 7.48M | 1.53M | 859K | 2.46M | 187K | 230K |
| Total Non-Current Assets | 356.15M | 359.04M | 298.43M | 37.58M | 20.28M | 21.73M | 14.69M | 18.88M |
| Property, Plant & Equipment | 8.78M | 6.72M | 5.93M | 6.72M | 11.57M | 16.45M | 10.44M | 7.06M |
| Fixed Asset Turnover | 26.16x | 25.14x | 14.28x | 6.82x | 2.69x | 1.29x | 1.25x | 1.09x |
| Goodwill | 122.28M | 122.28M | 101.7M | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 172.04M | 181.4M | 174.94M | 0 | 0 | 0 | 8.34M | 7M |
| Long-Term Investments | 34.74M | 0 | 13.55M | 0 | 0 | 0 | -8.34M | 0 |
| Other Non-Current Assets | 18.28M | 48.62M | 2.3M | 30.84M | 8.66M | 3.12M | 1.97M | 4.83M |
| Total Assets | 644.95M | 688.17M | 553.95M | 151.12M | 37.99M | 49.2M | 63.64M | 64.16M |
| Asset Turnover | 0.28x | 0.25x | 0.15x | 0.30x | 0.82x | 0.43x | 0.20x | 0.12x |
| Asset Growth % | 191.85% | 24.23% | 266.56% | 297.84% | -22.8% | -22.68% | -0.81% | - |
| Total Current Liabilities | 73.29M | 71.74M | 67.74M | 24.22M | 38.57M | 87.74M | 24.52M | 20.99M |
| Accounts Payable | 8.05M | 10.56M | 5.56M | 1.65M | 2.8M | 3.76M | 3.34M | 2.16M |
| Days Payables Outstanding | 28.48 | 39.59 | 46.85 | 53.36 | 106.39 | 208.41 | 207.68 | 174.78 |
| Short-Term Debt | 3.04M | 2.14M | 0 | 0 | 16.67M | 59.83M | 0 | 0 |
| Deferred Revenue (Current) | 96.97M | 24.04M | 23.88M | 4.31M | 5.81M | 6.04M | 12.08M | 0 |
| Other Current Liabilities | 30.88M | 34.99M | 25.47M | 6.96M | 6.13M | 7.29M | 3.37M | 10.8M |
| Current Ratio | 3.94x | 4.59x | 3.77x | 4.69x | 0.46x | 0.31x | 2.00x | 2.16x |
| Quick Ratio | 3.94x | 4.59x | 3.77x | 4.69x | 0.46x | 0.31x | 2.00x | 2.16x |
| Cash Conversion Cycle | 81.25 | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 109.62M | 152.65M | 303.56M | 98.73M | 35.98M | 304.7M | 315.47M | 23.02M |
| Long-Term Debt | 0 | 2.07M | 0 | 84.31M | 18.3M | 0 | 13.06M | 0 |
| Capital Lease Obligations | 7.94M | 0 | 2.4M | 3.09M | 5.71M | 8.9M | 1.25M | 3.35M |
| Deferred Tax Liabilities | 1.36M | 1.36M | 0 | 0 | 0 | 0 | 279.58M | 0 |
| Other Non-Current Liabilities | 99.68M | 149.22M | 294.29M | 6.42M | 4.42M | 280.84M | 2.37M | 19.68M |
| Total Liabilities | 182.91M | 224.39M | 371.3M | 122.95M | 74.55M | 392.44M | 339.99M | 44.02M |
| Total Debt | 6.23M | 4.21M | 4.35M | 90.16M | 44.12M | 73.32M | 16.64M | 6.33M |
| Net Debt | -209.42M | -244.28M | -193.89M | -5.1M | 34.88M | 51.69M | -27.05M | -18.31M |
| Debt / Equity | 0.01x | 0.01x | 0.02x | 3.20x | - | - | - | 0.31x |
| Debt / EBITDA | -0.05x | 0.39x | - | - | - | - | - | - |
| Net Debt / EBITDA | 1.54x | -22.50x | - | - | - | - | - | - |
| Interest Coverage | -398.24x | -12.84x | -28.58x | -4.08x | -15.51x | -8.48x | -31.47x | - |
| Total Equity | 460.67M | 463.79M | 182.65M | 28.17M | -36.56M | -343.24M | -276.35M | 20.14M |
| Equity Growth % | 265.49% | 153.92% | 548.44% | 177.04% | 89.35% | -24.2% | -1472.3% | - |
| Book Value per Share | 1.36 | 1.14 | 0.54 | 0.12 | -0.23 | -1.72 | -15.83 | 1.74 |
| Total Shareholders' Equity | 460.67M | 463.79M | 182.65M | 28.17M | -36.56M | -343.24M | -276.35M | 20.14M |
| Common Stock | 40K | 40K | 38K | 26K | 20K | 1K | 1K | 1K |
| Retained Earnings | -982.09M | -957.07M | -943.06M | -592.38M | -503.44M | -386.73M | -307.19M | -232.78M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | -30.84M | 0 |
| Accumulated OCI | 160K | 140K | 205K | 199K | 0 | 0 | -1K | -6K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Persistent equity dilution risk
According to the provided quarterly financial data, SoundHound AI has significantly bolstered its equity base from $28.2 million in 2023Q4 to $460.7 million by 2026Q1, a transformation primarily driven by aggressive capital raises rather than organic earnings accumulation, which remains deeply negative at -$982.1 million.
The trajectory of the balance sheet reflects a deliberate strategy to trade equity for liquidity to fund ongoing R&D and M&A activities. While the expansion of total assets to $645.0 million provides a larger foundation for operations, the reliance on external financing suggests that the business has not yet reached a self-sustaining growth phase.
As reported in the financial statements, the company maintains a conservative debt-to-equity ratio of 0.01% as of 2026Q1, a stark contrast to the 3.20 ratio observed in 2023Q4, indicating a successful transition away from debt-based financing toward equity-funded operations to support its high-growth AI initiatives.
The near-total absence of debt suggests that the company is avoiding interest-bearing obligations that could exacerbate its current negative operating margins. Investors should monitor whether this debt-free status is maintained as the company scales, or if future capital requirements necessitate a shift toward more traditional credit facilities.
Based on the reported figures, the company held $215.6 million in cash as of 2026Q1, maintaining a current ratio of 3.94, which provides a substantial buffer against short-term operational shocks despite the persistent cash burn associated with its aggressive expansion into the enterprise AI market.
The current ratio remains well above industry norms, suggesting that the company is well-positioned to meet its short-term liabilities without immediate liquidity concerns. However, the rapid fluctuation in cash balances over the last ten quarters warrants close observation of how efficiently this capital is deployed toward revenue-generating projects.
As indicated by the balance sheet, goodwill has risen from zero in 2023Q4 to $122.3 million in 2026Q1, representing a significant portion of total assets and highlighting the company's reliance on inorganic growth through acquisitions to maintain its competitive position in the conversational AI landscape.
The accumulation of goodwill introduces potential impairment risk if the acquired technologies or customer bases fail to deliver the expected synergies. Analysts should scrutinize the performance of these acquisitions, as the carrying value of these intangible assets may be sensitive to future changes in the company's growth outlook.
Quick answers to the most common questions about buying SOUN stock.
As of 2025, SoundHound AI, Inc. (SOUN) had total assets of $688.2M including $329.1M in current assets.
SoundHound AI, Inc. (SOUN) carries total debt of $4.2M, offset by $248.5M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
SoundHound AI, Inc. (SOUN) has total shareholders' equity (book value) of $463.8M ($1.14 book value per share). Book value represents the net worth of the company belonging to common stock holders.
SoundHound AI, Inc. (SOUN) reported a current ratio of 4.59x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.