Exhibit 99.2

SOUNDHOUND AI, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except share and per share data)

	March 31, 2024			December 31, 2023
	(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents	$	211,744		$	95,260
Accounts receivable, net of allowances of $234 and $203 as of March 31, 2024 and December 31, 2023, respectively		6,849			4,050
Contract assets and unbilled receivable, net of allowance for credit losses of $101 and $17 of March 31, 2024 and December 31, 2023, respectively		12,104			11,780
Other current assets		3,340			2,452
Total current assets		234,037			113,542
Restricted cash equivalents, non-current		14,356			13,775
Right-of-use assets		4,546			5,210
Property and equipment, net		1,348			1,515
Goodwill		5,760			—
Intangible assets, net		11,580			—
Deferred tax asset		10			11
Contract assets and unbilled receivable, non-current, net of allowance for credit losses of $176 and $177 of March 31, 2024 and December 31, 2023, respectively		15,106			16,492
Other non-current assets		686			577
Total assets	$	287,429		$	151,122
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	2,997		$	1,653
Accrued liabilities		15,341			13,884
Operating lease liabilities		2,791			2,637
Finance lease liabilities		93			121
Income tax liability		1,630			1,618
Deferred revenue		3,631			4,310
Total current liabilities		26,483			24,223
Operating lease liabilities, net of current portion		2,065			3,089
Deferred revenue, net of current portion		4,087			4,910
Long-term debt		85,543			84,312
Contingent acquisition liabilities (Note 17)		6,819			—
Income tax liability, net of current portion		2,315			2,453
Other non-current liabilities		4,638			3,967
Total liabilities		131,950			122,954
Commitments and contingencies (Note 7)
Stockholders’ equity:
Series A Preferred Stock, $0.0001 par value; 1,000,000 shares authorized; 70,241 and 475,005 shares issued and outstanding, aggregate liquidation preference of $2,481 and $16,227 as of March 31, 2024 and December 31, 2023, respectively		2,097			14,187
Class A Common Stock, $0.0001 par value; 455,000,000 shares authorized; 288,822,818 and 216,943,349 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively		29			22
Class B Common Stock, $0.0001 par value; 44,000,000 shares authorized; 32,735,408 and 37,485,408 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively		3			4
Additional paid-in capital		778,503			606,135
Accumulated deficit		(625,388	)		(592,379	)
Accumulated other comprehensive income		235			199
Total stockholders’ equity		155,479			28,168
Total liabilities and stockholders’ equity	$	287,429		$	151,122

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SOUNDHOUND AI, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(In thousands, except share and per share data)

(Unaudited)

	Three Months Ended March 31,
	2024			2023
Revenues	$	11,594		$	6,707
Operating expenses:
Cost of revenues		4,669			1,976
Sales and marketing		5,542			4,875
Research and development		14,878			14,184
General and administrative		10,267			7,290
Change in fair value of contingent acquisition liabilities		4,162			—
Amortization of intangible assets		605			—
Restructuring		—			3,585
Total operating expenses		40,123			31,910
Loss from operations		(28,529	)		(25,203	)
Other expense, net:
Interest expense		(5,664	)		(1,096	)
Other income (expense), net		1,479			(802	)
Total other expense, net		(4,185	)		(1,898	)
Loss before provision for income taxes		(32,714	)		(27,101	)
Provision for income taxes		295			329
Net loss		(33,009	)		(27,430	)
Cumulative dividends attributable to Series A Preferred Stock		(343	)		(682	)
Net loss attributable to SoundHound common shareholders	$	(33,352	)	$	(28,112	)
Other comprehensive income:
Unrealized gains on investments		36			—
Comprehensive loss	$	(32,973	)	$	(27,430	)
Net loss per share:
Basic and diluted	$	(0.12	)	$	(0.14	)
Weighted-average common shares outstanding:
Basic and diluted		286,596,559			205,082,328

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SOUNDHOUND AI, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)

	Three Months Ended March 31,
	2024			2023
Cash flows used in operating activities:
Net loss	$	(33,009	)	$	(27,430	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		1,470			708
Stock-based compensation		6,979			8,249
Loss on change in fair value of ELOC program		—			571
Amortization of debt issuance cost		1,231			16
Non-cash lease amortization		743			894
Foreign currency gain/loss from remeasurement		(55	)		—
Change in fair value of contingent acquisition liabilities		4,162			—
Deferred income taxes		(281	)		—
Other, net		45			—
Changes in operating assets and liabilities:
Accounts receivable, net		(1,248	)		754
Other current assets		(533	)		653
Contract assets		939			126
Other non-current assets		93			186
Accounts payable		905			(256	)
Accrued liabilities		(673	)		4,556
Operating lease liabilities		(888	)		(963	)
Deferred revenue		(1,606	)		(2,603	)
Other non-current liabilities		(222	)		(1	)
Net cash used in operating activities		(21,948	)		(14,540	)
Cash flows used in investing activities:
Purchases of property and equipment		(99	)		(15	)
Acquisition of SYNQ3, net of cash acquired		(3,689	)		—
Net cash used in investing activities		(3,788	)		(15	)
Cash flows provided by financing activities:
Proceeds from the issuance of Series A Preferred Stock, net of issuance costs		—			24,942
Proceeds from sales of Class A common stock under the ELOC program, net of issuance costs		—			28,683
Proceeds from sales of Class A common stock under the Sales Agreement		137,274			—
Proceeds from the issuance of Class A common stock upon exercise of options		8,887			2,425
Payment of financing costs associated with ELOC Program		—			(250	)
Payment of financing costs associated with the Sales Agreement		(3,435	)		—
Payments on notes payable		—			(4,120	)
Payments on finance leases		(28	)		(39	)
Net cash provided by financing activities		142,698			51,641
Effects of exchange rate changes on cash		103			—
Net change in cash, cash equivalents, and restricted cash equivalents		117,065			37,086
Cash, cash equivalents, and restricted cash equivalents, beginning of period		109,035			9,475
Cash, cash equivalents, and restricted cash equivalents, end of period	$	226,100		$	46,561

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SOUNDHOUND AI, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS – Continued

(In thousands)

(Unaudited)

Reconciliation to amounts on the condensed consolidated balance sheets:
Cash and cash equivalents	$	211,744	$	46,331
Non-current portion of restricted cash equivalents	$	14,356	$	230
Total cash, cash equivalents, and restricted cash equivalents shown in the condensed consolidated statements of cash flows	$	226,100	$	46,561
Supplemental disclosures of cash flow information:
Cash paid for interest	$	3,539	$	1,074
Cash paid for income taxes	$	727	$	550
Noncash investing and financing activities:
Conversion of Series A Preferred Stock to Class A common stock	$	12,090	$	—
Issuance of Class A Common Stock to settle commitment shares related to the ELOC program	$	—	$	915
Unpaid issuance costs in connection with the ELOC program	$	—	$	437
Deferred offering costs reclassified to additional paid-in capital	$	—	$	323
Property and equipment acquired under finance leases or debt	$	83	$	—
Fair value of Class A Common Stock issued for business combination	$	10,295	$	—
Fair value of deferred consideration	$	143	$	—
Fair value of contingent holdback consideration	$	981	$	—
Fair value of contingent earnout consideration	$	1,676	$	—
Unpaid deferred offering cost	$	200	$	—

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