Auddia Inc. (NASDAQ: AUUD)

Auddia Inc., also known as AUUD, is a technology company based in Boulder, CO, specializing in revolutionizing the way consumers interact with audio content. The company's primary product, faidr, is an industry-first audio Superapp that combines local content from AM/FM radio with commercial-free and personalized listening experiences. Auddia operates in the technology industry, specifically in the audio and podcast sectors, and has a presence in various countries through its app and podcast platform.

The company generates revenue primarily through its faidr App, which offers a subscription-based model that allows users to listen to any AM/FM radio station with commercial breaks replaced with personalized audio content. The app also includes podcasts with ads removed or easily skipped by listeners, exclusive content under the brand faidrRadio, and unique features such as Music Casts. Music Casts are a distinctive feature of faidr, which allows hosts and DJs to combine on-demand talk segments with dynamic music streaming, allowing users to hear podcasts with full music track plays embedded in the episodes.

Auddia's position within the industry is unique, thanks to its proprietary AI platform that recognizes the difference between all types of audio content on the radio, including commercials, songs, and weather reports. This technology allows the company to identify the beginning and end of each piece of content and learn the differences between various types of audio segments. The company is leveraging this technology platform within its premium AM/FM radio listening experience through the faidr App. Auddia's competitors include iHeart Media, Audacy, and TuneIn, but the company believes that its unique technology and business model will enable it to compete successfully in the audio marketplace.

The company's customers are primarily radio stations and podcasters who are looking for a new way to engage with their audience and monetize their content. Auddia's faidr App is available for download through the iOS and Android app stores, and the company is constantly updating and enhancing its features to provide a better user experience.

Auddia's faidr App and podcast platform offer a unique and differentiated listening experience that combines local content uniquely provided by AM/FM radio with commercial-free and personalized listening. With its proprietary AI technology and innovative features, Auddia is well-positioned to capture a significant share of the growing audio streaming market.

The company's radio segment is a significant part of its business, offering a premium AM/FM radio listening experience through the faidr App. The app allows users to listen to any AM/FM radio station with commercial breaks replaced with personalized audio content, including popular and new music, news, and weather. The app has been launched with over 6,200 AM/FM streams, and the company is working with radio stations to promote the app to their listeners.

The company's podcast segment is another significant part of its business, offering a differentiated podcasting capability with ad-skipping features and providing a suite of tools that helps podcasters create additional digital content for their podcast episodes, plan their episodes, build their brand, and monetize their content with new content distribution channels. The company's podcast platform, which includes the previously developed and commercially trialed Vodacast, offers a unique and interactive listening experience that combines audio and visual content.

Auddia relies on a combination of patents, trade secrets, non-disclosure agreements, and other intellectual property to protect its proprietary technologies. The company holds issued patents and has patents pending in the areas of audio content monitoring, identification, distribution, and presentation. The company also holds trademarks and is in the process of applying for trademarks for key products and brands.

As of December 31, 2023, Auddia had 13 total employees, 8 of whom were engaged in full-time research and development activities and 5 of whom were engaged in general administration. The company also works with 1 full-time contractor who supports research and development and 2 part-time contractors who support general administration activities.