Vocodia Provides Corporate Update and Strategic Path Forward
11 September 2024 - 7:45PM
Vocodia Holdings Corp. (OTC: VHAI) (the “Company”), a pioneering AI
software company specializing in practical AI solutions, is pleased
to provide shareholders with an update on its recent progress and
outline the company’s strategic path forward. As we continue to
execute on our long-term growth plan, we are excited about the
numerous opportunities ahead, including our goal of securing a
NASDAQ listing.
Financial Highlights and Operational
EfficiencyOver the past several months, Vocodia has
successfully improved its financial health through strategic cost
management and the careful allocation of resources. By reducing our
monthly cash burn rate from over $1 million to less than $300,000,
we have optimized our operations to ensure a sustainable future.
This financial streamlining better positions us to navigate our
growth phase while maintaining strong operational efficiency.
Additionally, we are seeing substantial progress in converting
pilot programs with key clients into long-term, contracted revenue
streams. These contracts validate the strength of our DISA
technology platform and its value in driving superior
customer service solutions for businesses across all industries.
Our next step will be to present compelling case studies from these
clients, showcasing the significant impact our technology is
making.
Revenue Growth and Profitability
OutlookVocodia’s revenue is growing steadily, driven by
the increasing demand for AI-powered customer service solutions.
Customer adoption has grown, retention rates have improved, and we
are onboarding new clients at a faster pace. Our solutions have
gained traction due to their ease of integration and the clear ROI
they offer. We’ve also seen more customers expanding their usage
from single-use cases to broader deployments across their
operations which is encouraging. Our goal is to work diligently
towards breaking-even by the end of Q4 2024, with profitability to
follow shortly after. This milestone will mark a pivotal moment in
our journey as we aim to deliver long-term value to shareholders
and position ourselves for sustained growth.
Innovation and AI LeadershipVocodia remains at
the forefront of the AI revolution, particularly in the areas of
conversational AI and digital intelligent
sales agents (DISA). We believe the innovations we are
developing today are just the beginning of a massive transformation
in customer service and business operations. AI continues to open
new doors for efficiency, cost savings, and enhanced customer
interactions, and Vocodia is well-positioned to capitalize on this
wave of change.
Our commitment to innovation has not wavered, even as we
maintain operational discipline. We are continuing to refine our
technology, deepen client relationships, and pursue new strategic
partnerships. The potential for growth in the AI-driven market is
immense, and we are ready to seize these opportunities.
Path Forward: Future Growth and Nasdaq
UplistingVocodia’s transition to the OTCQB
Market is a key part of our broader strategy to expand and
grow as a public company. We view this as a steppingstone towards
our long-term goal of a NASDAQ listing, which
remains central to our strategic vision. As we continue to execute
on our growth strategy, secure more contracts, and solidify our
revenue streams, we are confident that the NASDAQ uplisting will be
a natural next step in our evolution.
CEO Comments: Commitment to
ShareholdersBrian Podolak, CEO of
Vocodia, shared his thoughts on the company’s future:“We are very
pleased with the progress Vocodia has made in recent months. Our
ability to lower expenses while simultaneously growing revenue is a
testament to the dedication of our team and the strength of our AI
solutions. We see tremendous potential for AI to reshape
industries, and Vocodia is uniquely positioned to lead this
transformation. As we continue to grow and evolve, our focus
remains on delivering long-term value to our shareholders and
clients alike, and we are excited about what the future holds as we
on the path towards success through innovation, partnerships, and
market expansion.”
Looking AheadAs we move forward, Vocodia will
continue to prioritize growth, innovation, and strategic execution.
Our goal is to provide regular updates to shareholders,
demonstrating our progress and maintaining transparency as we
achieve key milestones. With a strong client pipeline, increasing
demand for our AI solutions, and a clear path to profitability, we
are confident in our ability to deliver sustainable growth and
create lasting value.
About Vocodia Holdings Corp.Vocodia is an AI
software company that develops practical AI solutions, making them
easily accessible for businesses through cloud-based platforms.
These solutions are cost-effective and scalable to enterprise
levels. Vocodia specializes in conversational AI, providing
scalable enterprise-level AI sales and customer service solutions.
Their Digital Intelligent Sales Agents (DISAs) are designed to
sound and feel human, performing tasks that require human-like
conversation, thereby reducing labor costs and enhancing
communication effectiveness. For more information, please visit
http://www.vocodia.com.
Forward-Looking Statements
This release
contains "forward-looking statements" within the meaning of the
safe harbor provisions of the U.S. Private Securities Litigation
Reform Act of 1995. Forward-looking statements can be identified by
words such as: "anticipate," "intend," "plan," "believe,"
"project," "estimate," "expect," strategy," "future," "likely,"
"may,", "should," "will" and similar references to future periods.
Forward-looking statements are neither historical facts nor
assurances of future performance. Instead, they are based only on
our current beliefs, expectations and assumptions regarding the
future of our business, future plans and strategies, projections,
anticipated events and trends, the economy and other future
conditions. Because forward-looking statements relate to the
future, they are subject to inherent uncertainties, risks and
changes in circumstances that are difficult to predict and many of
which are outside of our control. Our actual results and financial
condition may differ materially from those indicated in the
forward-looking statements. Therefore, you should not rely on any
of these forward-looking statements. Important factors that could
cause our actual results and financial condition to differ
materially from those indicated in the forward-looking statements
include, among others, the risks and uncertainties more fully in
the section captioned "Risk Factors" in the Company's Registration
Statement on Form S-1 related to the public offering (SEC File No.
File No. 333-269489) and other reports we file with the SEC. As a
result of these matters, changes in facts, assumptions not being
realized or other circumstances, our actual results may differ
materially from the expected results discussed in the
forward-looking statements contained in this press release.
Forward-looking statements contained in this announcement are made
as of this date and undertake no duty to update such information
except as required under applicable law.
Investor Relations Contact:Jeff RamsonPCG
Advisory646-863-6893jramson@pcgadvisory.com
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