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SOUN – Initiating Coverage: Long Thesis & Valuation Model

Date

April 2026

Role

Fundamental Research Investment Analyst

Brief Description

- Conducted in-depth industry, company, and market research to devise catalysts that will reprice the stock

- Synthesized research to forecast bull, base, and bear case revenue and costs with segment-level drivers

- Developed a thesis with conviction on the industry and the company's competitive advantage

- Developed bear and bull case DCFs and comps valuation to evaluate risk-reward

- Executed rigorous financial analysis and due diligence, quantifying any risks to my thesis

My Work

SOUN Investment Report (Long Thesis)

Financial analysis + projections with segment-level drivers (bull, bear, and base case)

Download as Excel

DCF + relative valuation (bull case) 

Download as Excel

DCF + relative valuation (bear case) 

Download as Excel

© 2025 by Anish Agarwal. All rights reserved.

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