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Nuheara’s FY21 sales up 517% to $10.7 million

Nuheara Limited (ASX: NUH) completed a breakout financial year of growth in FY21 with a strong fourth quarter performance: generating $1.9 million in customer receipts and $1.5 million in invoiced sales revenue.  Total invoiced sales (net of returns) for FY21 were up 517% to $10.7 million, a record for the Company.

  • Customer receipts of $1.9 million over Q4 FY21, up 140% on Q4 FY20 ($0.8 million), supported by strong Direct To Consumer (DTC) cash receipts.
  • Invoiced revenue of $1.5 million over Q4 FY21 up 309% on Q4 FY20 ($0.4 million); with total FY21 invoiced revenue up 517% to $10.7 million.
  • A total of 15,117 IQbuds2 MAX units (net of returns) were invoiced in FY21.
  • Stability in DTC Return On Advertising Spend (ROAS) of 1.8x average for FY21.
  • First shipment of Nuheara manufactured Elite Wireless Earbuds to HP Inc. in May 2021.
  • Strong balance sheet with $7.3 million cash and no debt at 30 June 2021.

Nuheara Co-founder & CEO Justin Miller said:
“Quarter 4 FY21 brought a strong conclusion to a record year that delivered 517% growth for the business.  In incredibly difficult business conditions, the Company has well and truly announced itself as a global player in the hearing device market.“As DTC sales continue to build, the green shoots of brick-and-mortar based traditional retail return and our OEM business is shipping and set for scale.  Nuheara’s omni channel sales strategy is now well conditioned and primed for further growth.“As a proud Australian company, we have built a solid international customer base, with North America now being more than 70% of all our sales. Our strong growth, new products and regulatory changes, presents an attractive platform to further disrupt the global hearing device market in FY22.”

Full Report Here:  NUH – Quarterly Activities Report and Appendix 4C

INVESTOR BRIEFING DETAILS

Justin Miller (Co-founder & CEO) and Jean-Marie Rudd (CFO) will host an investor webinar at 12:00pm AEST / 10:00am WST today.  Following the presentation, participants will have an opportunity to ask them questions.

To attend the webinar, please pre-register at:

https://us02web.zoom.us/webinar/register/WN_odqG_Ib0R0m3b_4hLOaoTg

 

 

 

July 26th, 2021