SoundHound AI, Inc.
Climate Impact & Sustainability Data (2020-12-31 to 2021-12-31)
Reporting Period: 2020-12-31 to 2021-12-31
Environmental Metrics
Climate Goals & Targets
Environmental Challenges
- COVID-19 pandemic impact on billings and revenue
- Supply chain disruptions
- Competition in the Voice AI market
- Pricing pressures from customers
- Risks associated with international operations
- Cybersecurity and data privacy incidents
- Compliance with data protection and anti-corruption laws
- Potential for inaccurate market growth forecasts
- Difficulty in acquiring new customers
- Risks related to intellectual property
- Risks related to the committed equity financing
- Risks related to SoundHound AI's business
- Risks related to SoundHound AI's securities
- Risks applicable to a dual class common stock structure
- Risks related to U.S. and international taxation
Mitigation Strategies
- Modified operations to address COVID-19
- Investing in technology and engineering
- Investing in sales and marketing
- Implementing information security measures
- Implementing policies and procedures to ensure compliance with laws and regulations
- Monitoring operations and government recommendations
- Developing new products and services
- Seeking licenses for intellectual property rights
- Establishing the Facility with Cantor
- Implementing risk management processes