AUDDIA INC. (AUUD)·Q4 2023 Earnings Summary

Executive Summary

• Auddia reported no revenue and a Q4 2023 net loss of $2.21M, slightly wider sequentially versus Q3 2023 ($2.12M), driven by higher G&A and depreciation amortization in the quarter .
• Operating expenses increased sequentially to $2.02M in Q4 from $1.83M in Q3, with G&A and D&A the main drivers; interest expense was $0.20M in Q4 vs $0.29M in Q3 .
• The company continued to emphasize product development and user metrics; faidr’s 30-day retention was reported at over 20% throughout Q4 2023, supporting future subscription monetization plans. This retention strength was highlighted later in company communications in early 2025, referencing Q4 2023 performance .
• No formal financial guidance or Q4 earnings call transcript was available; liquidity and going concern disclosures and Nasdaq listing compliance matters remained focal points .

What Went Well and What Went Wrong

What Went Well

• Strong user retention momentum: faidr’s 30-day retention exceeded 20% across Q4 2023, a positive indicator for future subscription conversion strategy and revenue ramp plans later in 2024/2025 .
• Continued product development and platform enhancements across faidr and podcasting; management underscores the AI-driven differentiation and roadmap to monetize via subscriptions and ad-skipping features .
• Broad station coverage maintained (>6,200 streams in faidr), supporting user engagement and the platform’s aggregation value proposition .

What Went Wrong

• No revenue and widened quarterly loss: Q4 2023 net loss widened to $2.21M from $2.12M in Q3, with operating expenses sequentially higher, reflecting G&A and D&A increases .
• Liquidity and going concern risk: year-end cash was $0.80M with disclosures that additional financing is required; going concern language persisted into FY 2023 reporting .
• Listing compliance and capital markets headwinds: ongoing Nasdaq minimum bid price/equity notices and need for capital raise remained overhangs on the equity story .

Financial Results

Operating expense breakdown:

Notes:

• No EPS was disclosed by quarter; FY 2023 diluted loss per share was ($12.93) and FY 2022 was ($13.79) .
• Revenue was $0 across periods as per filings and management narrative .

KPIs:

Guidance Changes

No explicit financial guidance was provided in Q4 filings or press releases available within our source set .

Earnings Call Themes & Trends

Note: No Q4 2023 earnings call transcript was found in the document catalog.

Management Commentary

• “We will need additional funding to complete the development of our full product line and scale products with a demonstrated market fit. Management has plans to secure such additional funding.”
• “Total revenues for the years ended December 31, 2023, and 2022 were $0 as we continue to develop and enhance our faidr and podcasting Apps to establish new revenue streams.”
• “We are exploring various merger and acquisition options as part of a broader strategy which aims to scale the business more rapidly; accelerate user adoption and subscriber growth…”
• “The Nasdaq listing rules require listed securities to maintain a minimum bid price of $1.00 per share… the Panel granted the Company’s request for an exception… to demonstrate compliance…”

Q&A Highlights

No Q4 2023 earnings call transcript was available in our sources. Key clarifications from filings:

• Going concern and liquidity: cash of $0.80M at year-end, and explicit need for additional capital raises; management disclosed financing activities and plans .
• Nasdaq compliance steps remained ongoing, with bid price and equity requirement updates into early 2024 .
• Product monetization path continues to rely on retention and conversion; revenues still at $0 in FY 2023 .

Estimates Context

• S&P Global consensus estimates for Q4 2023 were unavailable via our estimates tool due to API limits; we could not retrieve EPS or revenue consensus for the comparison. As a result, no beat/miss analysis versus Wall Street consensus is provided.
• Values would normally be retrieved from S&P Global; however, for this recap they were unavailable.

Key Takeaways for Investors

• Operating losses persisted with Q4 2023 net loss of $2.21M and no revenue; sequential expense increases (G&A and D&A) widened the quarterly loss modestly versus Q3 .
• Liquidity remains the central risk: year-end cash of $0.80M and continued going concern disclosures underscore the need for timely financing or strategic alternatives .
• Nasdaq compliance overhang persists; share price volatility and listing requirements may influence near-term stock action .
• Product/engagement signals are constructive: faidr 30-day retention over 20% in Q4 2023 supports the subscription conversion thesis; execution on monetization in 2024/2025 is critical. This was later communicated referencing Q4 performance .
• Single-segment focus and >6,200 AM/FM streams provide platform reach; however, revenue realization is the gating factor .
• Near-term trading implications: sensitivity to financing/newsflow (equity lines, bridge notes, strategic actions) and any updates on retention-to-subscription conversion; medium-term thesis hinges on converting engagement KPIs into recurring subscription revenue at scale .

Appendix – Source availability notes:

• Q4 2023 8-K Item 2.02 earnings press release and Q4 2023 earnings call transcript were not found in the document catalog; trend and quarter figures were synthesized from the FY 2023 10-K and Q3 2023 10-Q (quarterly Q4 values derived as FY minus 9M) .
• Relevant press communications referencing Q4 2023 retention performance were later published (Feb 10, 2025), providing KPI context for Q4 2023 .