Collective Audience, Inc. reported annual revenue of $12.1 million for fiscal year 2023, representing a 40% decrease from $20.2 million in 2022. The decline was primarily attributed to the company's focus on completing its business combination with Abri SPAC I and the termination of a major managed services agreement in October 2023. Platform operations expenses decreased 32% to $11.1 million.The company completed several strategic initiatives in 2023, including the merger with Abri SPAC I in November and subsequent Nasdaq listing under "CAUD". Two significant customers accounted for approximately 87% of 2023 revenue. The company raised $600,000 through a private placement in December 2023, issuing shares and warrants to investors.Looking ahead, Collective Audience is pursuing growth through acquisitions, having signed agreements to acquire BeOp, a conversational advertising technology company, and a 51% stake in DSL Digital in early 2024. However, the company faces challenges including Nasdaq listing compliance and substantial doubt about its ability to continue as a going concern due to operating losses and negative cash flows.

Collective Audience, Inc. reported annual revenue of $12.1 million for fiscal year 2023, representing a 40% decrease from $20.2 million in 2022. The decline was primarily attributed to the company's focus on completing its business combination with Abri SPAC I and the termination of a major managed services agreement in October 2023. Platform operations expenses decreased 32% to $11.1 million.The company completed several strategic initiatives in 2023, including the merger with Abri SPAC I in November and subsequent Nasdaq listing under "CAUD". Two significant customers accounted for approximately 87% of 2023 revenue. The company raised $600,000 through a private placement in December 2023, issuing shares and warrants to investors.Looking ahead, Collective Audience is pursuing growth through acquisitions, having signed agreements to acquire BeOp, a conversational advertising technology company, and a 51% stake in DSL Digital in early 2024. However, the company faces challenges including Nasdaq listing compliance and substantial doubt about its ability to continue as a going concern due to operating losses and negative cash flows.