Audicus
Growth Stage
The pioneer in telehealth for hearing loss
Overview
Raised: $222,336
Total Commitments ($USD)
Platform
Wefunder
Start Date
04/28/2024
Close Date
05/22/2024
Min. Goal
$100,002
Max. Goal
$1,235,000
Min. Investment
$100
Security Type
Equity - Preferred
Series
Series A
SEC Filing Type
RegCF
Price Per Share
$5.62
Pre-Money Valuation
$65,000,000
Rolling Commitments ($USD)
Status
Active
Reporting Date
05/15/2024
Days Remaining
6
% of Min. Goal
222%
% of Max. Goal
18%
Likelihood of Max
Avg. Daily Raise
$13,079
# of Investors
127
Momentum
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Year Founded
2010
Industry
Healthcare & Pharmaceuticals
Tech Sector
HealthTech
Distribution Model
B2B/B2C
Margin
High
Capital Intensity
High
Audicus, with a valuation of $65 million, is raising funds on Wefunder. The company is pioneering in telehealth for hearing loss with its customized hearing aids and care. Audicus is making hearing aids and hearing care affordable and accessible for everyone at 70% less cost than the competitors. The company has a gross revenue run rate of $14 million and an annual reoccurring revenue of $10 million. Patrick Freuler founded Audicus in August 2010. The current crowdfunding campaign has a minimum target of $100,001.79 and a maximum target of $1.24 million. The campaign proceeds will be used for marketing, inventory, working capital, and in-store partnership buildout.
Summary Profit and Loss Statement
| FY 2023 | FY 2022 | |
|---|---|---|
|
Revenue |
$11,904,482 |
$10,677,268 |
|
COGS |
$2,614,990 |
$2,443,891 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-1,102,087 |
$-877,141 |
Summary Balance Sheet
| FY 2023 | FY 2022 | |
|---|---|---|
|
Cash |
$807,644 |
$72,700 |
|
Accounts Receivable |
$332,629 |
$428,579 |
|
Total Assets |
$1,786,512 |
$1,104,401 |
|
Short-Term Debt |
$1,747,814 |
$4,519,574 |
|
Long-Term Debt |
$16,564 |
$0 |
|
Total Liabilities |
$1,764,378 |
$4,519,574 |
Financials as of: 04/28/2024
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