Auddia Inc.

What they do

Auddia develops the faidr app, which streams AM/FM radio and replaces commercial breaks in real time with songs supplied by its Discovr Radio platform, along with podcast ad-skipping on iOS. Its AI platform, built on Google's TensorFlow, is trained to distinguish commercials, songs, and DJ segments and to identify content boundaries. Discovr Radio is a web portal and AI Placement Engine that gives artists and labels guaranteed plays on radio streams, with an Artist Portal providing performance analytics.

Revenue drivers

• B2B SaaS subscriptions (artists, labels, distributors, managers) — Launched as the company's model in August 2025 and fully transitioned to in Q1 2026; targets artists and labels for subscription access to ad-free AM/FM listeners on faidr, but no material revenue has been reported to date.
• Consumer subscriptions (legacy B2C) — faidr launched with a B2C subscription model in February 2022; the company has fully transitioned away from it, and consumer subscriptions are no longer required for ad-free listening.
• Discovr Radio platform — Web-based portal that places artist songs into radio feeds as guaranteed plays, including during what would typically be ad breaks; this is the core product underlying the new B2B model.

Recent performance

The company reported $0 revenue for fiscal years 2021 through 2025 and for the quarters ended September 30, 2025, December 31, 2025, and March 31, 2026. The quarter ended June 30, 2026 showed $7,584 in revenue, the first reported revenue in the periods presented. Annual net losses were $13.5M in 2021, $6.9M in 2022, $8.8M in 2023, $8.7M in 2024, and $7.7M in 2025; operating cash flow was negative each year, including -$5.6M in 2025. As of June 30, 2026, the company reported $11.5M in total assets, $853,853 in total liabilities, $10.7M in shareholder equity, and $9.6M in cash and equivalents.

Strategy

Auddia is executing a strategic shift announced in August 2025 to a B2B model focused on AI-driven music discovery, targeting artists, labels, distributors, and managers for SaaS subscription access to faidr's ad-free AM/FM listeners. faidr users now receive free ad-free streams on all music stations, with consumer subscriptions eliminated. The company is building the Discovr Radio platform, including the AI Placement Engine and Artist Portal, and is also pursuing a proposed merger with Thramann Holdings that would result in a change of control and requires Auddia stockholder approval.

Risks

• Going concern — The company's auditors have expressed substantial doubt about its ability to continue as a going concern, which may hinder its ability to obtain further financing.
• No historical revenue; new model unproven — The company generated $0 revenue in every year from 2021 through 2025 and only began reporting revenue in the June 30, 2026 quarter, leaving the B2B SaaS model unproven at scale.
• Need for additional capital — Auddia will need additional funding, which may not be available on acceptable terms or at all, potentially forcing delays, limits, or termination of product development or operations.
• Merger and dilution risk — The proposed merger with Thramann Holdings requires Auddia stockholder approval and, if completed, would result in a change of control and dilution; failure to complete it could trigger a termination fee.

Outlook

Management's stated direction is the B2B AI music discovery model, with the free faidr app and Discovr Radio platform as the core offerings. The company continues to invest in the Discovr Radio AI Placement Engine and Artist Portal to deliver guaranteed plays to artists and labels. No specific revenue or earnings guidance was provided in the excerpts. The proposed Thramann Holdings merger remains subject to stockholder approval and closing conditions.