SoundHound AI, Inc. (NASDAQ: SOUN) is pushing deeper into enterprise AI through its planned acquisition of LivePerson, a deal that could substantially expand its customer base and revenue scale.
The company expects the LivePerson transaction to close in the second half of 2026, representing its fifth strategic acquisition since the company began pursuing inorganic growth.
LivePerson would bring hundreds of enterprise and mid-market customers spanning more than 30 countries, adding significant international breadth to SoundHound’s existing commercial footprint.
The combined customer base would include 12 of the top 15 global banks, four of the top five global airlines, four of the top five global automakers, 10 leading global telecommunications providers, and 25 Fortune 100 companies.
Management noted that Voice AI is among the most frequently requested capabilities from LivePerson’s existing customer base, creating an immediate cross-selling opportunity once the deal closes.
SoundHound also sees a path to selling unified digital-and-voice omnichannel solutions to its current customers, broadening the commercial value of the combined platform beyond a simple customer count increase.
The revenue framework underpinning the deal is central to SoundHound’s near-term growth story, with the company projecting 2026 revenues of between $225 million and $260 million.
Assuming the acquisition closes in the second half of 2026, management expects a minimum 2027 revenue range of $350 million to $400 million, including at least $100 million contributed by LivePerson’s long-tenured customers.
Management has also stated that the combined business could reach $500 million in revenue based on the existing customer base alone, though that outcome depends heavily on successful integration.
LivePerson has been under financial pressure in recent periods, meaning SoundHound will need to stabilize customer relationships, modernize the platform, and convert cross-selling pipelines into recognized revenue.
SoundHound shares have declined 28.7% over the past year, a performance that compares modestly better than the industry’s 30.2% fall over the same period.
For context, fellow AI sector player C3.ai, Inc. (NYSE: AI) dropped 55.6% over the same timeframe, while BigBear.ai Holdings, Inc. (NYSE: BBAI) bucked the trend with a gain of 5%.
SOUN stock is currently trading at a forward 12-month price-to-sales multiple of 11.63, slightly below the industry average of 11.95, suggesting a modest discount relative to peers.
C3.ai and BigBear.ai trade at forward price-to-sales ratios of 6.90 and 12.58 respectively, illustrating the range of valuations across the competitive AI software landscape.
The Zacks Consensus Estimate for SoundHound’s 2026 loss per share has widened from 9 cents to 18 cents over the past 60 days, reflecting growing concern over near-term profitability.
Earnings projections point to a 38.5% decline for SoundHound in 2026, a stark contrast to BigBear.ai’s projected earnings growth of 69.5% year over year and C3.ai’s expected 36.3% rise in fiscal 2027 earnings.
SOUN stock currently carries a Zacks Rank of 4, which corresponds to a Sell rating, indicating analysts remain cautious despite the strategic ambition behind the LivePerson deal.
