CORRECTION: BioSig & Streamex Clarify and Correct Details of Russell Starr's Appointment and Biography
BioSig reiterates that Mr. Starr is a former executive on Bay Street and respected entrepreneur and financier, Mr. Starr has built a reputation for navigating high-stakes financial transactions and guiding companies through complex growth trajectories. Most recently, he was Head of Capital Markets Consultant at DeFi Technologies, a publicly traded company at the forefront of decentralized finance and digital asset innovation. During his time with DeFi Technologies, it accelerated its strategic focus on Web3 infrastructure, emerging markets, and tokenized finance. Mr. Starr also helped bring Defi Technologies to be listed on the Nasdaq.
Mr. Starr's career is defined by a consistent focus on long-term value creation, particularly in the natural resource and renewable energy sectors. He is a strong advocate for Canada's emerging leadership in the global resource economy and sees the convergence of the renewable energy transition and weakening fiat currencies as powerful tailwinds for real asset investment.
Over the course of his career, Mr. Starr has held key leadership roles across public and private companies, contributing deep expertise in M&A, venture capital, and strategic partnerships. His ability to structure high-return, high-impact deals has earned him the trust of stakeholders across sectors.
Forward-Looking Statements
This press release contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be preceded by the words 'intends,' 'may,' 'will,' 'plans,' 'expects,' 'anticipates,' 'projects,' 'predicts,' 'estimates,' 'aims,' 'believes,' 'hopes,' 'potential,' or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond our control. It is possible that our actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in these forward-looking statements, depending on factors including whether we will be able to realize the benefits of the acquisition of Streamex, whether shareholder approval of the acquisition will be obtained, and whether we will be able to maintain compliance with Nasdaq's listing criteria in connection with the acquisition and otherwise. For a discussion of other risks and uncertainties, and other important factors, any of which could cause our actual results to differ from those contained in forward-looking statements, see our filings with the Securities and Exchange Commission, including the section titled 'Risk Factors' in our Annual Report on Form 10-K, filed with the SEC on April 15, 2025. We assume no obligation to publicly update or revise our forward-looking statements as a result of new information, future events or otherwise, except as required by law.
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Business Wire
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FPT and ANA Systems Forge Strategic Partnership to Advance Digital Innovation in Aviation
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Yahoo
an hour ago
- Yahoo
SoundHound AI Reports Record Second Quarter, With All Time High $42.7 Million Revenue, Up 217%, Raises Full Year Outlook
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Second Quarter Financial Highlights Reported revenue was $42.7 million, an increase of 217% year-over-year GAAP gross margin was 39.0%; non-GAAP gross margin was 58.4% GAAP net loss was ($74.7) million; non-GAAP net loss was ($11.9) million Adjusted EBITDA was a loss of ($14.3) million GAAP earnings per share was a loss of ($0.19); non-GAAP earnings per share was a loss of ($0.03) GAAP results include a loss from the calculated fair value of contingent acquisition liabilities where future earnout shares are marked-to-market on a quarterly basis based on the company's stock price. Non-GAAP measures exclude this non-operating/non-cash impact. "Q2 was a strong quarter where our underlying momentum manifested in financial results, and our earlier investments began showing outsized returns," said Nitesh Sharan, CFO of SoundHound AI. "We are moving with speed to capture the explosion we're seeing in the voice and conversational AI industry, where customers across sectors are realizing the tremendous value they can achieve by adopting our market-leading solutions." Business Highlights Agentic AI: Unveiled Amelia 7, and now 15 large enterprise customers are migrating onto this complete AI agent platform, which integrates Polaris, SoundHound's category leading speech foundation model. Voice Commerce: Advancing multiple voice commerce pilots with large automotive brands in Europe and the USA, both existing customers and new car brands, with participation from prominent national and global merchants for ordering food, coffee, parking, and more. Restaurants: Breakthrough quarter with numerous wins, renewals, expansions, and cross-selling. Notable cross-selling of SoundHound's Amelia enterprise platform to one of SoundHound's marquee restaurant customers to provide customer service support; new wins with Red Lobster, Peter Piper Pizza, Applebee's | IHOP; successful renewal with MOD Pizza; expansion with Chipotle, Firehouse Subs, Habit Burger, McAllister's Deli, Beef O'Brady's, and Casey's. Upsold Smart Answering to Red Robin, an existing phone ordering customer. Automotive: Significant new win in China for our voice assistant to be integrated in a major OEM with vehicles spanning China and worldwide, including the development of multiple new languages. Continued expansion with KIA in the Indian market, with increased momentum from India-based OEMs. SoundHound's LLM-enhanced Chat AI product rolled out in the North American market across three major brands. Healthcare: Added customers including Primary Health Solutions, and one of the world's largest healthcare companies. We also deployed our solutions with healthcare system Allina Health. Retail: Signed two multi-hundred unit personal care companies, and a home services company with over 500 locations to deploy Smart Answering. The solution also continues to attract additional fitness chains and expand further into existing brands. Financial Services: With 7 of the top 10 global financial institutions as customers, the company either renewed or had upsells with 4 of them. This included: expanding into new lines of business, penetrating across dozens of business units and doubling automated conversation volume from the previous year. The company is also expanding its presence in the regional bank and credit union market, most recently partnering with a leading credit union with operations in multiple states. Channel Partners: Expanded relationship with EXL to deliver Agentic and voice AI integrations across various verticals Entered into a partnership with Par Technologies to extend SoundHound's reach across Par's extensive portfolio of restaurant chains and their franchisees globally Launched a strategic partnership with global QSR technology leader Acrelec to accelerate AI adoption in restaurants globally Added a sales partnership with AVANT Communications to accelerate the adoption of SoundHound AI agents across enterprise markets Doubled the volume of interactions with a long standing partner that specializes in CRM, AI and workforce engagement management Second Quarter 2025 Financial Measures1 Three Months Ended (thousands, unless otherwise noted) June 30, 2025 June 30, 2024 Change Revenues $ 42,683 $ 13,462 217% GAAP gross profit $ 16,662 $ 8,482 96% GAAP gross margin 39.0% 63.0% (24.0)pp Non-GAAP gross profit $ 24,921 $ 8,951 178% Non-GAAP gross margin 58.4% 66.5% (8.1)pp GAAP operating loss2 $ (78,051) $ (21,985) (255)% Non-GAAP adjusted EBITDA $ (14,300) $ (13,848) (3)% GAAP net loss2 $ (74,724) $ (37,322) (100)% Non-GAAP net loss $ (11,863) $ (14,894) 20% GAAP net loss per share2 $ (0.19) $ (0.11) $ (0.08) Non-GAAP net loss per share $ (0.03) $ (0.04) $ 0.01 1) Please see tables below for a reconciliation from GAAP to non-GAAP. 2) GAAP-only operating loss includes a significant impact from the calculated fair value of contingent acquisition liabilities where future earn-out shares are marked-to-market on a quarterly basis, and with the increase in stock price compared to the previous quarter the loss associated with this item was $31 million in the second quarter. Non-GAAP measures exclude this non-operating/non-cash impact. Liquidity and Cash Flows The company's total cash and cash equivalents was $230 million at June 30, 2025, with no debt. Condensed Cash Flow Statement Six Months Ended (thousands) June 30, 2025 June 30, 2024 Cash flows: Net cash used in operating activities $ (43,682) $ (40,440) Net cash used in investing activities $ (354) $ (4,788) Net cash provided by financing activities $ 76,606 $ 137,030 Effects of exchange rate changes on cash $ (210) $ 130 Net change in cash and cash equivalents $ 32,360 $ 91,932 Business Outlook SoundHound is raising its full year 2025 revenue outlook and now expects it to be in a range of $160 - $178 million. Additional Information For more information please see the company's SEC filings which can be obtained on the company's website at The financial statements will be posted on the website, and will be included when the company files its 8-K. The financial data presented in this press release should be considered preliminary until the company files its 10-Q. Conference Call and Webcast Keyvan Mohajer, Co-Founder and CEO, and Nitesh Sharan, CFO will host a live audio conference call and webcast today at 2:00 p.m. Pacific Time/5:00 p.m. Eastern Time. A live webcast and replay will also be accessible at About SoundHound AI SoundHound (Nasdaq: SOUN), a global leader in voice and conversational intelligence, delivers AI solutions that allow businesses to offer superior experiences to their customers. Built on proprietary technology, SoundHound's voice AI delivers best-in-class speed and accuracy in numerous languages to product creators and service providers across retail, financial services, healthcare, automotive, smart devices, and restaurants. The company's various groundbreaking AI-driven products include Smart Answering, Smart Ordering, Dynamic Drive-Thru, and the Amelia Platform, which powers AI Agents for enterprise. In addition, SoundHound Chat AI, a powerful voice assistant with integrated Generative AI, and Autonomics, a category-leading operations platform that automates IT processes, have allowed SoundHound to power millions of products and services, and processes billions of interactions each year for world class businesses. For more information, visit: Forward Looking Statements This press release contains forward-looking statements, which are not historical facts, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "will," "would" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. These forward-looking statements include, but are not limited to, statements concerning our expected financial performance, our ability to implement our business strategy and anticipated business and operations, and guidance for financial results for 2025. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. As a result, readers are cautioned not to place undue reliance on these forward-looking statements. Our actual results may differ materially from those expressed or implied by these forward-looking statements as a result of risks and uncertainties impacting SoundHound's business including, our ability to successfully launch and commercialize new products and services and derive significant revenue, our market opportunity and our ability to acquire new customers and retain existing customers, unexpected costs, charges or expenses resulting from our 2024 acquisitions, the ability of our 2024 acquisitions to be accretive on the company's financial results, and those other factors described in our risk factors set forth in our filings with the Securities and Exchange Commission from time to time, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. We do not intend to update or alter our forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Non-GAAP Measures of Financial Performance To supplement the company's financial statements, which are presented on the basis of U.S. generally accepted accounting principles (GAAP), the following non-GAAP measures of financial performance are included in this release: non-GAAP gross profit, non-GAAP gross margin, adjusted EBITDA, non-GAAP net loss and non-GAAP earnings per share. The company believes that providing this non-GAAP information in addition to the GAAP financial information allows investors to view the financial results in the way the company views its operating results. The company also believes that providing this information allows investors to not only better understand the company's financial performance, but also, better evaluate the information used by management to evaluate and measure such performance. As such, the company believes that disclosing non-GAAP financial measures to the readers of its financial statements provides the reader with useful supplemental information that allows for greater transparency in the review of the company's financial and operational performance. The company defines its non-GAAP measures by excluding certain items: The company arrives at non-GAAP gross profit and non-GAAP gross margin by excluding (i) amortization of intangibles (including acquired intangible assets) and (ii) stock-based compensation. The company arrives at adjusted EBITDA by excluding (i) total interest and other income/(expense), net, (ii) loss on early extinguishment of debt, (iii) income taxes, (iv) depreciation and amortization expense (including acquired intangible assets), (v) stock-based compensation, (vi) change in fair value of contingent acquisition liabilities, and (vii) acquisition-related costs. The company arrives at non-GAAP net loss and non-GAAP net loss per share by excluding (i) depreciation and amortization expense (including acquired intangible assets), (ii) stock-based compensation, (iii) loss on early extinguishment of debt, (iv) change in fair value of contingent acquisition liabilities, (v) change in fair value of derivative, and (vi) acquisition-related costs. Reconciliations of GAAP to these adjusted non-GAAP financial measures are included in the tables below. When analyzing the company's operating results, investors should not consider non-GAAP measures as substitutes for the comparable financial measures prepared in accordance with GAAP. To the extent that the company presents any forward-looking non-GAAP financial measures, the company does not present a quantitative reconciliation of such measures to the most directly comparable GAAP financial measure (or otherwise present such forward-looking GAAP measures) because it is impractical to do so. Second Quarter Reconciliation of GAAP Gross Profit to Non-GAAP Gross Profit and GAAP Gross Margin to Non-GAAP Gross Margin Three Months Ended (thousands, unless otherwise noted) June 30, 2025 June 30, 2024 GAAP gross profit1 $ 16,662 $ 8,482 Adjustments: Amortization of Intangibles 4,084 362 Stock-based compensation 4,175 107 Non-GAAP gross profit $ 24,921 $ 8,951 GAAP gross margin 39.0% 63.0% Non-GAAP gross margin 58.4% 66.5% 1) GAAP gross profit is calculated by subtracting the cost of revenues from revenues. Second Quarter Reconciliation of GAAP Net Loss to Non-GAAP Adjusted EBITDA Three Months Ended (thousands) June 30, 2025 June 30, 2024 GAAP net loss $ (74,724) $ (37,322) Adjustments: Total other income (expense), net1 (4,583) (888) Loss on early extinguishment of debt - 15,587 Income taxes 1,256 638 Depreciation and amortization 7,774 1,280 Stock-based compensation2 23,810 7,253 Change in fair value of contingent acquisition liabilities 31,359 (1,082) Acquisition-related expenses 808 686 Non-GAAP adjusted EBITDA $ (14,300) $ (13,848) 1) Includes other income, net of $4.8 and $5.0 million for the three months ended June 30, 2025 and 2024, respectively. 2) Included in stock-based compensation is a one-time impact of $3.8 million related to accelerated vesting of the Restricted Stock Agreement as part of our integration plan of SYNQ3. Second Quarter Reconciliation of GAAP Net Loss to Non-GAAP Net Loss and Non-GAAP Net Loss Per Share Three Months Ended (thousands, unless otherwise noted) June 30, 2025 June 30, 2024 GAAP net loss attributable to SoundHound common shareholders $ (74,724) $ (37,395) Adjustments: Depreciation and amortization 7,774 1,280 Stock-based compensation1 23,810 7,253 Loss on early extinguishment of debt - 15,587 Change in fair value of contingent acquisition liabilities 31,359 (1,082) Change in fair value of derivative (890) - Gain on bargain purchase - (1,223) Acquisition-related expenses 808 686 Non-GAAP net loss $ (11,863) $ (14,894) GAAP net loss per share2 $ (0.19) $ (0.11) Adjustments 0.16 0.07 Non-GAAP net loss per share2 $ (0.03) $ (0.04) 1) Included in stock-based compensation is a one-time impact of $3.8 million related to accelerated vesting of the Restricted Stock Agreement as part of our integration plan of SYNQ3. 2) Weighted average common shares outstanding (basic) for the three months ended June 30, 2025 and 2024 were 400,124,499 and 331,830,608, respectively. View source version on Contacts Investors: Scott Smith408-724-1498IR@ Media: Fiona McEvoy415-610-6590PR@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Upturn
2 hours ago
- Business Upturn
ROSEN, TOP RANKED GLOBAL COUNSEL, Encourages Capricor Therapeutics, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action
NEW YORK, Aug. 07, 2025 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Capricor Therapeutics, Inc. (NASDAQ: CAPR) between October 9, 2024 and July 10, 2025, both dates inclusive (the 'Class Period'), of the important September 15, 2025 lead plaintiff deadline. SO WHAT: If you purchased Capricor securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. WHAT TO DO NEXT: To join the Capricor class action, go to or call Phillip Kim, Esq. at 866-767-3653 or email [email protected] for more information. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than September 15, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers. DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants provided investors with material information concerning deramiocel, Capricor's lead cell therapy candidate drug for the treatment of cardiomyopathy associated with Duchenne muscular dystrophy (DMD). Defendants' statements included, among other things, Capricor's ability to obtain a Biologics License Application (BLA) for deramiocel from the U.S. Food and Drug Administration (FDA). Further, defendants provided these overwhelmingly positive statements to investors while, at the same time, disseminating false and misleading statements and/or concealing material adverse facts concerning its four-year safety and efficacy data from its Phase 2 HOPE-2 trial study of deramiocel. The lawsuit alleges this caused shareholders to purchase Capricor's securities at artificially inflated prices. When the true details entered the market, the lawsuit claims that investors suffered damages. To join the Capricor class action, go to or call Phillip Kim, Esq. at 866-767-3653 or email [email protected] for more information. No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. Follow us for updates on LinkedIn: on Twitter: or on Facebook: Attorney Advertising. Prior results do not guarantee a similar outcome. ——————————- Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 [email protected]
