Vocodia Holdings Reports 80% Revenue Decline and $10.03 Million Net Loss for Fiscal Year 2024

Vocodia Holdings Corp reported a significant decline in financial performance for the fiscal year ended December 31, 2024, with revenues dropping by 80% to $50,078 compared to $256,385 in 2023. This decrease was primarily attributed to a suspension of sales for its Digital Intelligent Sales Agents (DISAs) to update their functionality, resulting in minimal revenue generation from integration and setup fees. The company incurred a net loss of $10.03 million, an increase of 16% from the previous year's loss of $8.71 million. The gross profit also turned into a loss of $55,876, compared to a profit of $35,608 in 2023.

In terms of operational changes, Vocodia Holdings underwent a strategic shift by suspending DISA sales to enhance product capabilities, which is expected to culminate in a relaunch in the second quarter of 2025. The company also reported a decrease in operating expenses, which rose slightly by 1% to $5.84 million, driven by increased general and administrative costs, while salaries and wages saw a significant reduction of 55% due to a scaling back of operations. The total number of employees remained low, with only three contractors reported as of the end of 2024.

Vocodia's customer base and engagement metrics were adversely affected by the suspension of DISA sales, leading to a decrease in active clients. The company aims to enhance its market position by improving its technology and expanding its service offerings. The firm has also indicated plans for geographic expansion and product adoption, particularly targeting industries with high call center demands, such as healthcare and real estate.

Looking ahead, Vocodia Holdings faces substantial challenges, including a working capital deficiency of $2.16 million and an accumulated deficit of $100.54 million. The company has expressed a need for additional capital to support its operations and technology development. Management has indicated that it will continue to seek funding through debt and equity financing, although there is no assurance that such funding will be available. The company’s ability to continue as a going concern remains uncertain, as highlighted by its independent auditors, who noted substantial doubt regarding its financial viability without successful capital raising efforts.