Audicus

Audicus

Growth Stage

The pioneer in telehealth for hearing loss

The pioneer in telehealth for hearing loss

Overview

Raised to Date: Raised: $243,607

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    Open SEC Filing

Price Per Share

$5.62

Pre-Money Valuation

$65,000,000

Rolling Commitments ($USD)

Status

Active

Reporting Date

05/18/2024

Days Remaining

3

% of Min. Goal

244%

% of Max. Goal

20%

Likelihood of Max
unlikely
Avg. Daily Raise

$12,180

# of Investors

153

Momentum
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Year Founded

2010

Industry

Healthcare & Pharmaceuticals

Tech Sector

HealthTech

Distribution Model

B2B/B2C

Margin

High

Capital Intensity

High

Location

New York, New York

Business Type

Growth

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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Audicus on Wefunder 2024
Platform: Wefunder
Security Type: Equity - Preferred
Valuation: $65,000,000
Price per Share: $5.62

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