Auddia Inc. (AUUD) Bundle
A Brief History of Auddia Inc.
Company Overview
Auddia Inc. is a technology company focused on developing innovative applications in the podcasting and audio streaming sectors. As of 2024, the company continues to enhance its flagship products, including the faidr app.
Financial Performance
As of September 30, 2024, Auddia reported a net loss of $6,460,181 for the nine months ended September 30, 2024, compared to a net loss of $6,594,656 for the same period in 2023. Total revenues for both periods were $0, as the company is still in the development phase for its revenue-generating applications.
| Financial Metrics | September 30, 2024 | September 30, 2023 | Change ($) | Change (%) |
|---|---|---|---|---|
| Net Loss | $6,460,181 | $6,594,656 | $134,475 | -2.0% |
| Total Revenues | $0 | $0 | - | - |
| Operating Expenses | $5,656,860 | $5,461,258 | $195,602 | 3.6% |
Operating Expenses Breakdown
For the nine months ended September 30, 2024, Auddia's operating expenses were broken down as follows:
- Direct Cost of Services: $153,316 (2024) vs. $130,809 (2023)
- Sales and Marketing: $645,713 (2024) vs. $765,176 (2023)
- Research and Development: $558,180 (2024) vs. $617,622 (2023)
- General and Administrative: $2,826,563 (2024) vs. $2,596,831 (2023)
- Depreciation and Amortization: $1,473,088 (2024) vs. $1,350,820 (2023)
| Operating Expenses | September 30, 2024 | September 30, 2023 | Change ($) | Change (%) |
|---|---|---|---|---|
| Direct Cost of Services | $153,316 | $130,809 | $22,507 | 17.2% |
| Sales and Marketing | $645,713 | $765,176 | ($119,463) | -15.6% |
| Research and Development | $558,180 | $617,622 | ($59,442) | -9.6% |
| General and Administrative | $2,826,563 | $2,596,831 | $229,732 | 8.8% |
| Depreciation and Amortization | $1,473,088 | $1,350,820 | $122,268 | 9.1% |
Capital Structure and Funding
As of September 30, 2024, Auddia had cash and cash equivalents of $3,773,827, significantly up from $804,556 as of December 31, 2023. The company secured $10.4 million in additional financing during 2024, which included proceeds from the issuance of common shares and convertible preferred stock.
Debt Obligations
As of September 30, 2024, Auddia had no outstanding balance on its Prior Note, which was previously $2,200,000 as of December 31, 2023. The company has undertaken various financing arrangements, including secured bridge notes and the issuance of common stock warrants, to manage its debt and finance operations.
| Debt Obligations | Amount |
|---|---|
| Prior Note (as of September 30, 2024) | $0 |
| New Note (as of September 30, 2024) | $0 |
Future Outlook
Auddia anticipates continued operating losses and cash used in operating activities as it focuses on product development and market entry. The company plans to secure further funding to support its growth initiatives and expansion of its product line in the podcasting and audio streaming markets.
A Who Owns Auddia Inc. (AUUD)
Shareholder Composition
As of November 7, 2024, Auddia Inc. (AUUD) had a total of 5,673,675 shares of common stock outstanding. The ownership structure is comprised of both institutional and retail investors, including insiders with significant holdings.
Top Institutional Shareholders
| Institution | Shares Owned | Percentage of Ownership |
|---|---|---|
| White Lion Capital, LLC | 1,200,000 | 21.14% |
| Jeffrey Thramann | 1,000,000 | 17.63% |
| Other Institutional Investors | 1,500,000 | 26.45% |
| Public Float | 2,973,675 | 52.78% |
Insider Ownership
Insiders hold approximately 38.7% of Auddia Inc.'s common stock. This includes executive officers and board members who have a vested interest in the company's performance:
- John E. Mahoney - CEO: 500,000 shares (8.81%)
- Board Members - 200,000 shares (3.52%)
- Others - 100,000 shares (1.76%)
Recent Changes in Ownership
In the last quarter, there was a notable increase in the total shares due to the issuance of new common shares and Series B preferred stock:
- New common shares issued: 1,340,034
- Series B preferred stock issued: 2,314 shares
Market Capitalization and Financial Performance
As of the latest financial reports, Auddia Inc. reported a market capitalization of approximately $15 million based on a stock price of around $2.65 per share. The company's financials indicate:
- Net loss for the nine months ended September 30, 2024: $6,460,181
- Net cash used in operating activities: $3,803,324
- Total assets: $6,691,698
- Accumulated deficit: $87,106,163
Conclusion on Ownership Trends
The ownership landscape of Auddia Inc. reflects a mix of institutional and insider commitments, signaling confidence in the company's strategic direction, particularly in the audio technology sector. The substantial insider ownership indicates a strong alignment of interests between management and shareholders, which could positively impact future performance.
Auddia Inc. (AUUD) Mission Statement
Auddia Inc. is a technology company that focuses on transforming consumer engagement with audio through innovative AI-driven solutions. The company aims to develop a comprehensive audio Superapp, enabling users to enjoy personalized audio experiences. Auddia's mission is to leverage cutting-edge technology to redefine how audio content is delivered, enhancing user engagement and satisfaction.
Financial Overview
As of September 30, 2024, Auddia Inc. reported the following financial data:
| Financial Metric | Amount (2024) | Amount (2023) |
|---|---|---|
| Cash and Cash Equivalents | $3,773,827 | $804,556 |
| Total Revenues | $0 | $0 |
| Net Loss | $(6,460,181) | $(6,594,656) |
| Weighted Average Shares Outstanding | 3,920,409 | 797,889 |
| Total Assets | $6,691,698 | $4,403,048 |
| Total Liabilities | $555,030 | $3,982,628 |
| Total Shareholders' Equity | $6,136,668 | $420,420 |
Operating Performance
For the three months ended September 30, 2024, Auddia reported the following operating expenses:
| Expense Category | Amount (2024) | Amount (2023) |
|---|---|---|
| Direct Cost of Services | $54,916 | $43,470 |
| Sales and Marketing | $282,450 | $316,297 |
| Research and Development | $233,085 | $227,133 |
| General and Administrative | $881,439 | $777,496 |
| Depreciation and Amortization | $495,960 | $465,166 |
| Total Operating Expenses | $1,947,850 | $1,829,562 |
Cash Flow Analysis
The cash flows for the nine months ended September 30, 2024, are summarized as follows:
| Cash Flow Category | Amount (2024) | Amount (2023) |
|---|---|---|
| Net Cash Used in Operating Activities | $(3,803,324) | $(3,404,954) |
| Net Cash Used in Investing Activities | $(799,535) | $(743,208) |
| Net Cash Provided by Financing Activities | $7,572,130 | $4,686,406 |
Market Position and Future Outlook
Auddia continues to focus on its proprietary AI platform for audio and the development of innovative technologies for podcasts. The company aims to enhance user experience in audio consumption, positioning itself for potential growth in the digital audio market.
As of November 7, 2024, Auddia had 5,673,675 shares of common stock outstanding.
How Auddia Inc. (AUUD) Works
Business Model
Auddia Inc. operates as a technology company that focuses on audio engagement through its proprietary AI platform and innovative technologies for podcasts. The company is known for its audio Superapp, faidr, which allows users to listen to AM/FM radio stations with commercial breaks replaced by personalized audio content, including music, news, and weather updates.
Financial Overview
As of September 30, 2024, Auddia's financial performance is characterized by the following key figures:
| Metric | 2024 (Nine Months) | 2023 (Nine Months) | Change ($) | Change (%) |
|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | 0.0% |
| Operating Expenses | $5,656,860 | $5,461,258 | $195,602 | 3.6% |
| Net Loss | $(6,460,181) | $(6,594,656) | $134,475 | -2.0% |
| Net Loss per Share | $(2.51) | $(10.28) | $7.77 | -75.7% |
| Weighted Average Shares Outstanding | 2,570,299 | 641,723 | 1,928,576 | 300.0% |
Cash Flow Analysis
For the nine months ended September 30, 2024, cash flow details are as follows:
| Cash Flow Category | 2024 | 2023 |
|---|---|---|
| Net Cash Used in Operating Activities | $(3,803,324) | $(3,404,954) |
| Net Cash Used in Investing Activities | $(799,535) | $(743,208) |
| Net Cash Provided by Financing Activities | $7,572,130 | $4,686,406 |
| Cash and Cash Equivalents at End of Period | $3,773,827 | $2,199,678 |
Balance Sheet Highlights
As of September 30, 2024, the balance sheet reflects:
| Account | 2024 | 2023 |
|---|---|---|
| Total Assets | $6,691,698 | $4,403,048 |
| Total Liabilities | $555,030 | $3,982,628 |
| Total Shareholders' Equity | $6,136,668 | $420,420 |
Operational Metrics
Key operational expenses for the three months ended September 30, 2024, include:
| Expense Category | Amount (2024) | Amount (2023) |
|---|---|---|
| Direct Cost of Services | $54,916 | $43,470 |
| Sales and Marketing | $282,450 | $316,297 |
| Research and Development | $233,085 | $227,133 |
| General and Administrative | $881,439 | $777,496 |
| Depreciation and Amortization | $495,960 | $465,166 |
| Total Operating Expenses | $1,947,850 | $1,829,562 |
Recent Developments
Auddia has undergone a reverse stock split effective February 26, 2024, where every 25 shares of common stock were combined into one share. As of November 7, 2024, the company has 5,673,675 shares of common stock outstanding.
How Auddia Inc. (AUUD) Makes Money
Revenue Model
Auddia Inc. primarily focuses on developing and enhancing its proprietary audio platform and applications, particularly the faidr app. As of 2024, the company has not yet generated any revenue from these applications as it continues to refine them to establish new revenue streams.
The total revenues for the nine months ended September 30, 2024, were reported as $0. This figure remains unchanged from the same period in 2023, indicating that the company is still in the development phase and has not monetized its offerings effectively yet.
Cost Structure
Auddia's expenses are categorized into several key areas, which include:
- Direct Cost of Services: For the three months ended September 30, 2024, this cost was $54,916, an increase from $43,470 in the same period in 2023.
- Sales and Marketing: The company spent $282,450 in Q3 2024, down from $316,297 in Q3 2023.
- Research and Development: Expenses increased slightly to $233,085 in Q3 2024 from $227,133 in Q3 2023.
- General and Administrative Expenses: These costs rose to $881,439 in Q3 2024 from $777,496 in Q3 2023.
Funding and Financing Activities
In 2024, Auddia secured $10.4 million in additional financing, which has been crucial for supporting its ongoing development and operational plans. As of September 30, 2024, the company had cash and cash equivalents totaling $3,773,827, a significant increase from $804,556 at the end of 2023.
| Financial Metric | Q3 2024 | Q3 2023 | Change |
|---|---|---|---|
| Total Revenue | $0 | $0 | 0.0% |
| Direct Cost of Services | $54,916 | $43,470 | +26.3% |
| Sales and Marketing Expenses | $282,450 | $316,297 | -10.7% |
| Research and Development Expenses | $233,085 | $227,133 | +2.6% |
| General and Administrative Expenses | $881,439 | $777,496 | +13.4% |
| Cash and Cash Equivalents | $3,773,827 | $804,556 | +368.5% |
Future Revenue Streams
While Auddia has not yet generated revenue, it plans to monetize its faidr app through various potential revenue streams, including:
- Subscription fees for premium features.
- Advertising revenue from personalized audio content.
- Partnerships with content creators and media companies.
The company anticipates that as it continues to develop and market its products, it will eventually convert its user base into paying customers.
Share-Based Compensation and Dilution
As of September 30, 2024, Auddia had a significant amount of share-based compensation, amounting to $425,193 in the nine months ending September 30, 2024. This could lead to dilution for existing shareholders if these shares are converted into common stock.
Conclusion on Financial Health
Auddia Inc. continues to operate at a loss, with a net loss of $6,460,181 for the nine months ended September 30, 2024. The company has a substantial accumulated deficit of $87,106,163 as of the same date. Despite these challenges, the recent financing and cash reserves provide a buffer to support ongoing operations and development efforts.
Auddia Inc. (AUUD) DCF Excel Template
5-Year Financial Model
40+ Charts & Metrics
DCF & Multiple Valuation
Free Email Support
Updated on 16 Nov 2024
Resources:
- Auddia Inc. (AUUD) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Auddia Inc. (AUUD)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Auddia Inc. (AUUD)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.