The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Gil Luria - D.A. Davidson & Company - Analyst
: Three months ago, when you announced the Amelia acquisition, you talked about the fact that you are looking at various parts of the business to
decide which ones you're going to incorporate into the future SoundHound. And there was a possibility that you may want to discontinue some
of those businesses that you had acquired.
With the 3 months' worth of work and perspective on that, can you give us a sense for how much of the Amelia business you're going to be retaining.
how much you may be discontinuing. And then what's the accounting going to be for that.
Question: Gil Luria - D.A. Davidson & Company - Analyst
: Yes, appreciate it. And then the second question, I'd like to talk about the technology. If you're talking about a foundational model, could you help
us understand how you benchmark that model and what the important benchmarks are. How many parameters was it trained on. How big of a
cluster of GPUs. What specific benchmarks and what other models are you comparing it to assess how much it can contribute to making your
products better.
Question: Gil Luria - D.A. Davidson & Company - Analyst
: Thank you Very Much.
Question: Scott Buck - H.C. Wainwright & Co., LLC - Analyst
: First one, I want to say, I appreciate the breakout by kind of industry vertical that you included in the release. But I'm curious as you look towards
'25 and the opportunities within each one of those, what your capacity looks like and maybe how you're moving or allocating resources between
restaurants and kind of broader retail or auto. Any kind of color you could provide there would be great.
Question: Scott Buck - H.C. Wainwright & Co., LLC - Analyst
: Great. I appreciate all that detail, Nitesh. My second one on the increased outlook, is it something you're seeing from directly from one of the
acquisitions. Is it something you're seeing from the legacy business. Or is it just the combination of the 2 that's pushing that higher both for fourth
quarter and '25.
Question: Scott Buck - H.C. Wainwright & Co., LLC - Analyst
: Great. Well, I appreciate the added color guys.
Question: Glenn Mattson - Ladenburg Thalmann & Co. Inc. - Analyst
: So, in relation to that guidance, I'm curious, I think I saw in the filing that there was a for the quarter, you'd be like $40 million this quarter if you
had Amelia for the full quarter. Correct me if I'm wrong there. And then so if you were to annualize that's like $160 million next year. Can you just
square away perhaps, that's kind of like ballpark to midpoint of your range. So, maybe there's some cushion built in there or perhaps there's some
seasonality. Can you just help me explain, help me understand the guidance in relation to that number.
Question: Glenn Mattson - Ladenburg Thalmann & Co. Inc. - Analyst
: Yes, that's helpful. And then just on the business side, I think you said 7 of the TOP20 QSRs now. Can you just talk in the past you've talked about
with these larger deployments, sometimes it's a little harder to get whatever if it's all the franchisees on board or something like that or just to
procure the equipment and the time to install everything and everything. Can you just talk about your sense of how that process is going from the
wind to the actual deployment.
Question: Glenn Mattson - Ladenburg Thalmann & Co. Inc. - Analyst
: That's very helpful, Nitesh. If I could just squeeze in one quick housekeeping on the backlog. I think you said 2x last year, but I don't remember the
figure for last year because you had you converted to the new backlog number at some point, I think, after that point. Is there a hard dollar you
can give us or just. Is that the only use case.
Question: Leo Carpio - Joseph Gunnar & Co. LLC - Analyst
: First, congratulations on the quarter. I have a couple of questions. The first question is, what's your M&A appetite as you seek to consolidate the
voice AI space, any industries or sectors that look appealing. And could you probably put a little more color on the energy and retail sector comment.
It sounds like you're wanting to explore a little bit more deeper in there.
Question: Leo Carpio - Joseph Gunnar & Co. LLC - Analyst
: Okay. And then speaking of partnerships, any plans to collaborate with the large AI, LLM companies like Anthropic, OpenAI, or are there existing
relationships with them.
Question: Leo Carpio - Joseph Gunnar & Co. LLC - Analyst
: Okay. And then in the restaurant pillar, what's the point of the conversations Last quarter you indicated you're getting a lot of inbound calls, and
given the roster of restaurants that you've been working with, what do you think is the extra that you need to top crack into the TOP5 restaurants,
the 5 global chains.
Question: Leo Carpio - Joseph Gunnar & Co. LLC - Analyst
: All right. Congrats again on the quarter.
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