2022 Q2 Form 10-Q Financial Statement

#000121390022047615 Filed on August 15, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2022 Q1 2021 Q4
Revenue $6.152M $0.00 $0.00
YoY Change -25.69% -100.0%
Cost Of Revenue $2.488M $1.773M $1.707M
YoY Change 52.83% 11.3% 1.91%
Gross Profit $3.664M $2.517M $3.640M
YoY Change -44.91% 17.29% 43.53%
Gross Profit Margin 59.56%
Selling, General & Admin $13.73M $6.584M $5.964M
YoY Change 167.84% 52.34% 36.73%
% of Gross Profit 374.78% 261.58% 163.85%
Research & Development $18.86M $16.65M $16.52M
YoY Change 34.51% 15.28% 21.59%
% of Gross Profit 514.79% 661.5% 453.74%
Depreciation & Amortization $1.053M $1.292M $1.333M
YoY Change -23.81% -10.96% -10.54%
% of Gross Profit 28.74% 51.33% 36.62%
Operating Expenses $32.59M $490.1K $553.4K
YoY Change 70.2% 501.73% -96.92%
Operating Profit -$28.93M $2.027M $3.087M
YoY Change 131.46% -1.82% -120.03%
Interest Expense $1.572M $104.6K -$82.81K
YoY Change -31.47% -4139.0% -83.73%
% of Operating Profit 5.16% -2.68%
Other Income/Expense, Net $223.0K -$467.0K -$6.000K
YoY Change 21.2% 42.38% -110.53%
Pretax Income -$30.28M -$385.5K -$636.2K
YoY Change 107.26% 358.71% -95.99%
Income Tax $389.0K $352.0K -$944.0K
% Of Pretax Income
Net Earnings -$30.67M -$385.5K -$636.2K
YoY Change 109.31% 358.71% -96.1%
Net Earnings / Revenue -498.5%
Basic Earnings Per Share -$0.19 -$0.36
Diluted Earnings Per Share -$0.19 -$22.07K -$36.44K
COMMON SHARES
Basic Shares Outstanding 162.0M shares 69.60M shares
Diluted Shares Outstanding 162.0M shares 69.60M shares

Balance Sheet

Concept 2022 Q2 2022 Q1 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $65.01M $18.13K $235.3K
YoY Change 7990.75% -98.12%
Cash & Equivalents $65.01M $18.13K $22.82M
Short-Term Investments
Other Short-Term Assets $927.0K $78.57K $917.0K
YoY Change 530.57% -52.59%
Inventory
Prepaid Expenses $4.685M $1.276M
Receivables $1.015M $1.332M $2.060M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $71.76M $96.70K $27.47M
YoY Change 7449.53% -91.44%
LONG-TERM ASSETS
Property, Plant & Equipment $4.868M $15.70M $6.155M
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $133.0M $133.0M
YoY Change 0.02%
Other Assets $3.641M $7.228M $5.286M
YoY Change
Total Long-Term Assets $18.04M $133.0M $21.73M
YoY Change -86.43% 0.02%
TOTAL ASSETS
Total Short-Term Assets $71.76M $96.70K $27.47M
Total Long-Term Assets $18.04M $133.0M $21.73M
Total Assets $89.80M $133.1M $49.20M
YoY Change -32.96% -0.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.348M $6.938M $3.760M
YoY Change
Accrued Expenses $5.939M $503.1K $7.298M
YoY Change 7934.36% 379.94%
Deferred Revenue $6.042M
YoY Change
Short-Term Debt $0.00 $0.00 $1.820K
YoY Change -100.0% -100.0%
Long-Term Debt Due $17.29M $61.83M $61.13M
YoY Change
Total Short-Term Liabilities $40.88M $657.8K $87.74M
YoY Change 14482.81% 70.72%
LONG-TERM LIABILITIES
Long-Term Debt $26.34M $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.338M $154.8K $1.336M
YoY Change 581.19%
Total Long-Term Liabilities $1.338M $0.00 $1.336M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $40.88M $657.8K $87.74M
Total Long-Term Liabilities $1.338M $0.00 $1.336M
Total Liabilities $85.15M $657.8K $112.9M
YoY Change 30273.85% 70.72%
SHAREHOLDERS EQUITY
Retained Earnings -$442.5M -$386.7M
YoY Change
Common Stock $0.00 $1.000K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.656M -$363.4M -$343.2M
YoY Change
Total Liabilities & Shareholders Equity $89.80M $133.1M $49.20M
YoY Change -32.96% -0.75%

Cashflow Statement

Concept 2022 Q2 2022 Q1 2021 Q4
OPERATING ACTIVITIES
Net Income -$30.67M -$385.5K -$636.2K
YoY Change 109.31% 358.71% -96.1%
Depreciation, Depletion And Amortization $1.053M $1.292M $1.333M
YoY Change -23.81% -10.96% -10.54%
Cash From Operating Activities -$46.55M -$217.2K -$393.4K
YoY Change 42145.06% 16.78% -96.33%
INVESTING ACTIVITIES
Capital Expenditures -$982.0K -$611.0K $43.00K
YoY Change 784.68% -1069.84% -91.52%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities -$982.0K $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 90.17M 0.000
YoY Change -180434.0% -100.0%
NET CHANGE
Cash From Operating Activities -46.55M -217.2K -393.4K
Cash From Investing Activities -982.0K 0.000
Cash From Financing Activities 90.17M 0.000
Net Change In Cash 42.64M $0.00 -393.4K
YoY Change -26715.38% -100.0% -95.89%
FREE CASH FLOW
Cash From Operating Activities -$46.55M -$217.2K -$393.4K
Capital Expenditures -$982.0K -$611.0K $43.00K
Free Cash Flow -$45.57M $393.8K -$436.4K
YoY Change -5625758.02% -258.19% -96.11%

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CY2021Q2 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax
1000 usd
CY2021Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1346000 usd
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-14652000 usd
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
-302016000 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
-343237000 usd
soun Retroactive Application Of Business Combination Value
RetroactiveApplicationOfBusinessCombinationValue
279502000 usd
soun Adjusted Balance Beginning Of Period
AdjustedBalanceBeginningOfPeriod
-63734000 usd
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
2840000 usd
us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
20239000 usd
soun Pipe Financing
PIPEFinancing
86585000 usd
soun Issuance Of Class A Common Shares Pursuant To Business Combination
IssuanceOfClassACommonSharesPursuantToBusinessCombination
4106000 usd
soun Issuance Of Class A Common Shares Upon Exercise Of Stock Options
IssuanceOfClassACommonSharesUponExerciseOfStockOptions
64000 usd
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
10327000 usd
us-gaap Net Income Loss
NetIncomeLoss
-55771000 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
4656000 usd
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
-276353000 usd
soun Adjusted Balance Beginning Of Period
AdjustedBalanceBeginningOfPeriod
-276353000 usd
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1672000 usd
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
3842000 usd
us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax
1000 usd
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
2734000 usd
us-gaap Net Income Loss
NetIncomeLoss
-33912000 usd
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
-302016000 usd
us-gaap Net Income Loss
NetIncomeLoss
-55771000 usd
us-gaap Net Income Loss
NetIncomeLoss
-33912000 usd
us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
2269000 usd
us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
2836000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
10327000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
2734000 usd
soun Change In Fair Value Of Warrant Liability
ChangeInFairValueOfWarrantLiability
606000 usd
soun Change In Fair Value Of Warrant Liability
ChangeInFairValueOfWarrantLiability
1314000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
2185000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1399000 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
1545000 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
1790000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1045000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
2323000 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
3409000 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-266000 usd
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
10000 usd
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
373000 usd
us-gaap Gain Loss On Sale Of Other Assets
GainLossOnSaleOfOtherAssets
-110000 usd
us-gaap Gain Loss On Sale Of Other Assets
GainLossOnSaleOfOtherAssets
26000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1846000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-107000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
108000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
1468000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-2258000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-2096000 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-5362000 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-4845000 usd
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
2000 usd
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-750000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-46767000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-32625000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
982000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
111000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-982000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-111000 usd
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
5044000 usd
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
29833000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2904000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1672000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
91695000 usd
us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
-3416000 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
1016000 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
1295000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
90167000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
35254000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
42418000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
2518000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
22822000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
44982000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
65240000 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
47500000 usd
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
65010000 usd
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
46210000 usd
CY2021Q2 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
230000 usd
CY2022Q2 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
230000 usd
CY2021Q2 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
1060000 usd
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value Including Discontinued Operations
CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations
65240000 usd
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value Including Discontinued Operations
CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations
47500000 usd
us-gaap Interest Paid Net
InterestPaidNet
1140000 usd
us-gaap Interest Paid Net
InterestPaidNet
149000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
33000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
18000 usd
soun Operating Lease Liabilities And Rightofuse Assets Through Adoption Of Topic842
OperatingLeaseLiabilitiesAndRightofuseAssetsThroughAdoptionOfTopic842
11428000 usd
us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
20239000 usd
soun Unpaid Deferred Offering Costs Associated With The Business Combination
UnpaidDeferredOfferingCostsAssociatedWithTheBusinessCombination
1006000 usd
us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
279503000 usd
soun Debt Discount Through Issuance Of Common Stock Warrant
DebtDiscountThroughIssuanceOfCommonStockWarrant
3842000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
650000 usd
soun Property And Equipment Acquired Under Capital Leases Or Debt
PropertyAndEquipmentAcquiredUnderCapitalLeasesOrDebt
650000 usd
CY2022Q2 soun Net Loss Of Organization
NetLossOfOrganization
30668000 usd
soun Net Loss Of Organization
NetLossOfOrganization
55711000 usd
CY2022Q2 soun Retained Earning Accumulated Deficit
RetainedEarningAccumulatedDeficit
442500000 usd
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
65010000 usd
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration:underline">Reclassification</span></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain prior period balances have been reclassified to conform to the current year presentation. Such changes include reclassifications or combinations of certain accounts on the condensed consolidated balance sheets.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-align: justify"> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These reclassifications had no impact on total assets, total liabilities, net loss or comprehensive loss or accumulated deficit in the previously reported consolidated financial statements for the year ended December 31, 2021.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1053000 usd
CY2022Q2 us-gaap Foreign Currency Cash Flow Hedge Gain Loss Reclassified To Earnings Net
ForeignCurrencyCashFlowHedgeGainLossReclassifiedToEarningsNet
-177000 usd
us-gaap Foreign Currency Cash Flow Hedge Gain Loss Reclassified To Earnings Net
ForeignCurrencyCashFlowHedgeGainLossReclassifiedToEarningsNet
287000 usd
CY2021Q2 us-gaap Foreign Currency Cash Flow Hedge Gain Loss Reclassified To Earnings Net
ForeignCurrencyCashFlowHedgeGainLossReclassifiedToEarningsNet
-94000 usd
us-gaap Foreign Currency Cash Flow Hedge Gain Loss Reclassified To Earnings Net
ForeignCurrencyCashFlowHedgeGainLossReclassifiedToEarningsNet
273000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration:underline">Use of Estimates</span></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and judgments that affect the amounts reported and disclosures in the condensed consolidated financial statements and accompanying notes. Such estimates include revenue recognition, allowance for doubtful accounts, accrued liabilities, derivative and warrant liabilities, calculation of the incremental borrowing rate, financial instruments recorded at fair value on a recurring basis, valuation of deferred tax assets and uncertain tax positions and the fair value of common stock and other assumptions used to measure stock-based compensation expense. The Company bases its estimates on historical experience, the current economic environment and on assumptions it believes are reasonable under the circumstances. The Company adjusts such estimates and assumptions when facts and circumstances dictate. Changes in those estimates resulting from changes in the economic environment will be reflected in the financial statements in future periods. Actual results could differ materially from those estimates.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23.75pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration:underline">Concentrations of Credit Risk and Other Risks and Uncertainties</span></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash and cash equivalents. The Company regularly monitors its credit risk exposure and takes steps to mitigate the likelihood of these exposures resulting in actual loss.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of June 30, 2022, accounts receivable balances due from four customers collectively totaled 54% of the Company’s condensed consolidated accounts receivable balance. As of December 31, 2021, accounts receivable balances due from five customers collectively totaled 86% of the Company’s condensed consolidated accounts receivable balance.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the six months ended June 30, 2022, the Company had four customers that accounted for 70% of revenue, and for the six months ended June 30, 2021, the Company had two customers that accounted for 64% of revenue.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the three months ended June 30, 2022, the Company had four customers that accounted for 77% of revenue, and for the three months ended June 30, 2021, the Company had two customers that accounted for 71% of revenue.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2269000 usd
CY2021Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1382000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2836000 usd
CY2022Q2 soun Licensing
Licensing
101000 usd
CY2022Q2 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
144000 usd
us-gaap Increase Decrease In Derivative Liabilities
IncreaseDecreaseInDerivativeLiabilities
-606000 usd
us-gaap Increase Decrease In Derivative Liabilities
IncreaseDecreaseInDerivativeLiabilities
-1314000 usd
CY2022Q2 us-gaap Interest Revenue Expense Net
InterestRevenueExpenseNet
200000 usd
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
67357878 shares
CY2022Q2 us-gaap Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P12Y
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
11428000 usd
CY2021Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
9848000 usd
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
11428000 usd
CY2021Q1 us-gaap Deferred Rent Credit
DeferredRentCredit
827000 usd
CY2021Q1 us-gaap Tenant Improvements
TenantImprovements
1098000 usd
CY2021Q1 us-gaap Prepaid Rent
PrepaidRent
344000 usd
CY2022Q2 us-gaap Other Selling General And Administrative Expense
OtherSellingGeneralAndAdministrativeExpense
4574000 usd
CY2021Q2 us-gaap Other Selling General And Administrative Expense
OtherSellingGeneralAndAdministrativeExpense
298000 usd
us-gaap Other Selling General And Administrative Expense
OtherSellingGeneralAndAdministrativeExpense
5177000 usd
us-gaap Other Selling General And Administrative Expense
OtherSellingGeneralAndAdministrativeExpense
536000 usd
CY2022Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
1000000 shares
CY2022Q2 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
10
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
127680000 usd
CY2022Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
11300000 shares
soun Net Proceeds
NetProceeds
90691000 usd
soun Licensing
Licensing
272000 usd
CY2022Q2 us-gaap Business Acquisition Cost Of Acquired Entity Transaction Costs
BusinessAcquisitionCostOfAcquiredEntityTransactionCosts
27666000 usd
us-gaap Proceeds From Divestiture Of Businesses And Interests In Affiliates
ProceedsFromDivestitureOfBusinessesAndInterestsInAffiliates
90691000 usd
us-gaap Payments For Fees
PaymentsForFees
4068000 usd
CY2022Q2 us-gaap Other Additional Capital
OtherAdditionalCapital
86584000 usd
us-gaap Partners Capital Account Redemptions
PartnersCapitalAccountRedemptions
4105000 usd
soun Total Shares Of Common Stock Immediately After Business Combination
TotalSharesOfCommonStockImmediatelyAfterBusinessCombination
196503710 shares
CY2022Q2 us-gaap Contract With Customer Liability Change In Timeframe Performance Obligation Satisfied Revenue Recognized
ContractWithCustomerLiabilityChangeInTimeframePerformanceObligationSatisfiedRevenueRecognized
239000 usd
CY2022Q2 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
1143000 usd
us-gaap Contract With Customer Liability Change In Timeframe Performance Obligation Satisfied Revenue Recognized
ContractWithCustomerLiabilityChangeInTimeframePerformanceObligationSatisfiedRevenueRecognized
806000 usd
us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
1143000 usd
CY2022Q2 soun Hosted Services
HostedServices
4450000 usd
CY2021Q2 soun Hosted Services
HostedServices
3122000 usd
soun Hosted Services
HostedServices
7794000 usd
soun Hosted Services
HostedServices
6510000 usd
CY2022Q2 us-gaap Professional And Contract Services Expense
ProfessionalAndContractServicesExpense
1382000 usd
CY2021Q2 us-gaap Professional And Contract Services Expense
ProfessionalAndContractServicesExpense
4739000 usd
us-gaap Professional And Contract Services Expense
ProfessionalAndContractServicesExpense
1949000 usd
us-gaap Professional And Contract Services Expense
ProfessionalAndContractServicesExpense
4739000 usd
CY2022Q2 soun Traffic Monetization
TrafficMonetization
219000 usd
CY2021Q2 soun Traffic Monetization
TrafficMonetization
418000 usd
soun Traffic Monetization
TrafficMonetization
427000 usd
soun Traffic Monetization
TrafficMonetization
769000 usd
CY2022Q2 soun Stock Issued During Period Net Exercise Of Outstanding Warrants
StockIssuedDuringPeriodNetExerciseOfOutstandingWarrants
usd
CY2022Q2 us-gaap Revenues
Revenues
6152000 usd
CY2021Q2 us-gaap Revenues
Revenues
8279000 usd
us-gaap Revenues
Revenues
10442000 usd
us-gaap Revenues
Revenues
12018000 usd
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6152000 usd
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
8279000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
10442000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
12018000 usd
CY2022Q2 us-gaap Revenues
Revenues
6152000 usd
CY2021Q2 us-gaap Revenues
Revenues
8279000 usd
us-gaap Revenues
Revenues
10442000 usd
us-gaap Revenues
Revenues
12018000 usd
CY2022Q2 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
7863000 usd
CY2021Q2 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
1346000 usd
CY2022Q2 us-gaap Revenues
Revenues
6152000 usd
CY2021Q2 us-gaap Revenues
Revenues
8279000 usd
us-gaap Revenues
Revenues
10442000 usd
us-gaap Revenues
Revenues
12018000 usd
CY2022Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
1275000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
3437000 usd
CY2021Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
3458000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
5168000 usd
soun Related To Customer Contracts Unsatisfied Amount
RelatedToCustomerContractsUnsatisfiedAmount
23081000 usd
CY2022Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Deferred Revenue
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesDeferredRevenue
8933000 usd
soun Revenue Recognized Term
RevenueRecognizedTerm
P1Y
soun Revenue Recognized Between Two To Five Years
RevenueRecognizedBetweenTwoToFiveYears
10651000 usd
soun Contractual Term
ContractualTerm
P5Y
soun Revenue Recognized After Five Years
RevenueRecognizedAfterFiveYears
3497000 usd
CY2022Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
234000 usd
CY2022Q2 soun Effect Of Reverse Recapitalization Net Of Costs
EffectOfReverseRecapitalizationNetOfCosts
usd
CY2022Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
34618000 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
33554000 usd
CY2022Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
29750000 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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