{"id":32787,"date":"2021-10-27T02:35:44","date_gmt":"2021-10-27T02:35:44","guid":{"rendered":"https:\/\/www.nuheara.com\/usa\/?p=32787"},"modified":"2021-11-15T18:17:34","modified_gmt":"2021-11-15T18:17:34","slug":"quarterly-activities-report-for-the-quarter-ended-30-september-2021","status":"publish","type":"post","link":"https:\/\/www.nuheara.com\/usa\/news\/quarterly-activities-report-for-the-quarter-ended-30-september-2021\/","title":{"rendered":"Quarterly Activities Report: for the quarter ended 30 September 2021"},"content":{"rendered":"<h1><strong>Resurgent retail sales underpin 112% growth for Nuheara<\/strong><\/h1>\n<p><strong>Nuheara Limited (ASX: NUH) delivered strong first quarter performance: generating $1.1 million in customer receipts and $1.2 million in invoiced sales revenue. \u00a0Significant quarter on quarter growth in Traditional Retail (TR) sales ensured Nuheara was well placed as retail conditions improve with the post pandemic recovery.<\/strong><\/p>\n<ul>\n<li><strong>Q1 FY22 customer receipts up 112% to $1.1 million <\/strong>(Q1 FY21: $0.5 million), supported by Traditional Retail and Direct To Consumer (DTC) cash receipts.<\/li>\n<li><strong>Q1 FY22 invoiced product revenue down 35% to $1.2 million <\/strong>(Q1 FY21: $1.8 million which was inclusive of significant backorders from FY20) supported by resurgent growth in Traditional Retail (TR) sales.<\/li>\n<li><strong>20% increase in Average Selling Price (ASP) <\/strong>of IQbuds\u00b2 MAX to $478 in Q1 FY22 from $405 (FY21).<\/li>\n<li><strong>Driven by the US\u2019 TR sales rebound<\/strong>, TR represented 43% ($0.5 million) of total sales in Q1 FY22 up from 19% in Q4 FY21.<\/li>\n<li><strong>DTC sales strengthened in Australia but softened in US <\/strong>due to differing regional purchasing options, with US TR reopening and Australia in lockdown.<\/li>\n<li><strong>Strong balance sheet <\/strong>with $3.7 million cash and no debt at 30 September 2021. \u00a0A R&amp;D tax rebate of $1.7 million is expected to be received in Q2 FY22.<\/li>\n<li><strong>Strong inventory levels <\/strong>provide a solid foundation to deliver continued growth in sales during Q2 FY22, seasonally the largest quarter of the year.<\/li>\n<li><strong>As expected, post quarter TR sales resurgence continues <\/strong>with October 2021 month to date invoiced TR sales exceeding total Q1 FY22 TR sales.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><strong><em>Nuheara Co-founder &amp; CEO Justin Miller said:<\/em><\/strong><\/p>\n<p><em>\u201cThe first quarter has provided a solid start to the new financial year in both cash receipts and invoiced sales.\u00a0 This is particularly pleasing as we navigated dramatic changes in retail business conditions, particularly in our major sales region of the US.\u00a0 <\/em><\/p>\n<p><em>\u201cNuheara\u2019s DTC sales sites, our revenue mainstay during the depths of the COVID-19 pandemic, continue to deliver.\u00a0 However, the resurgent retail sales growth we are now seeing through our US retail partners re-opening highlights the benefits of our diversified sales channel growth strategy.<\/em><\/p>\n<p><em>\u201cWe are in a strong position to continue our growth trajectory, with DTC, OEM and now TR all proving themselves at various stages over the past 18 months.\u00a0 As retail and supply chains return to normalcy, we look forward to all our diversified sales channels delivering within the same quarter.\u201d<\/em><\/p>\n<p><a href=\"https:\/\/www.nuheara.com\/usa\/wp-content\/uploads\/2021\/10\/Quarterly-Activities-Report-for-the-quarter-ended-30-September-2021.pdf\">Click here to read the full report.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Resurgent retail sales underpin 112% growth for Nuheara Nuheara Limited (ASX: NUH) delivered strong first quarter performance: generating $1.1 million in customer receipts and $1.2 million in invoiced sales revenue. \u00a0Significant quarter on quarter growth in Traditional Retail (TR) sales ensured Nuheara was well placed as retail conditions improve with the post pandemic recovery. Q1 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":32788,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","inline_featured_image":false,"footnotes":""},"categories":[8],"tags":[],"class_list":["post-32787","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-announcements"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Quarterly Activities Report: for the quarter ended 30 September 2021 | Nuheara<\/title>\n<meta name=\"description\" content=\"October 27, 2021 - Resurgent retail sales underpin 112% growth for Nuheara Nuheara Limited (ASX: NUH) delivered strong first quarter performance: generating $1.1 million in | Nuheara\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.nuheara.com\/usa\/news\/quarterly-activities-report-for-the-quarter-ended-30-september-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Quarterly Activities Report: for the quarter ended 30 September 2021 | Nuheara\" \/>\n<meta property=\"og:description\" content=\"October 27, 2021 - 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