HIGHLIGHTS:

  • Nuheara has now surpassed $2m in sales of IQbuds² MAX pre-orders.
  • Fulfilment of IQbuds² MAX units now prepared for logistics phase.
  • Nuheara’s robust Direct To Consumer sales model continues to grow in economies heavily affected by COVID-19.
  • Current Quarter to Date (April – May 2020) sales represent year on year growth of 92%
  • International customers (non-Australian) represent 85% of all sales for the current quarter.

3 June 2020 – Perth Australia

Nuheara Limited (ASX: NUH) (Company or Nuheara) transforming the way people hear by creating smart hearing solutions that are smart and affordable, is pleased to announce that it has now surpassed over $2m in sales for pre-orders of its newest flagship product, IQbuds² MAX.

Nuheara CEO Justin Miller said that Nuheara’s Direct-To-Consumer (DTC) sales model had proved itself time and again during the COVID-19 global pandemic.

“The fact that we have built a global online platform to reach our consumers directly, and that we have pre-sold more than 4,600 IQbuds² MAX in less than five months, demonstrates how resilient our sales and marketing platform is – even as economies have been drastically impacted by COVID 19.

“Nuheara’s IQbuds² MAX pre-orders have predominantly been focused in the EU and North American markets, with non-Australian customers representing more than 85% of all sales for the current quarter.  Revenues for this period continued this global trend with year on year sales growth rates of 197% for the USA, 83% for the UK and 51% for Canada.

The fulfilment of IQbuds² MAX backorders is now entering the logistics phase with Nuheara working through the staged delivery of completed product, from the Malaysian manufacturing facility, to its five warehouses located in the UK, USA, Canada, Australia and China.  COVID-19 logistics are still adversely impacting delivery schedules.  However, once completed products have been receipted into these warehouses, individual units will then be deployed as final consumer shipments over the coming weeks.

“With the logistics phase commencing, and a successful capital raise now complete, we look forward to an even more effective and aggressive marketing push to further accelerate our strong global customer reach.”

 


This announcement has been approved for release by the  Nuheara Managing Director Mr Justin Miller.


CONTACT

Media and Investor Relations

Shane Murphy, FTI Consulting

Office: +61 8 9321 8533

Email: shane.murphy@fticonsulting.com

Mobile: + 61 420 945 291

 

ABOUT NUHEARA

Nuheara is a global leader in smart personal hearing devices which change people’s lives by enhancing the power to hear. Nuheara has developed proprietary and multi-functional intelligent hearing technology that augments a person’s hearing and facilitates cable free connection to smart devices. Nuheara is based in Perth, Australia and has an office in New York, USA. Nuheara was the first consumer wearables technology company to be listed on the Australian Stock Exchange (ASX).

In 2016, the Company released its revolutionary wireless earbuds, IQbudsTM, which allow consumers to augment their hearing according to their personal hearing preferences and connect hands free with their voice-enabled smart devices. Nuheara products are now sold in major consumer electronics retailers, professional hearing clinics and optical chains around the world.

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