JMY Investments
Value, special situations, contrarian, event-driven

Audience, Inc. Finds Its Voice

Audience (NASDAQ:ADNC), a little known company, is a leading provider of advanced voice and audio processors for mobile, computer, and lately television remotes. Audience IPO'ed in May 2012 for $17.00. Those who do know Audience know it best for this headline, "Audience Inc. Shrs Collapse As It Loses Apple iPhone Business". Less than six months after its IPO, Audience lost its largest account in dramatic fashion. Apple (NASDAQ:AAPL) which represented 70% of Audience's business at the time based on information provided in Audience's prospectus, quietly moved in-house for their voice recognition technology for their upcoming iPhone model, leaving a huge gap in Audience's revenue base. I would argue the decision represents more what's...

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