Nuheara surpasses $1M in IQbuds² MAX pre-orders

Perth, Australia, February 28, 2020 - 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 surpassed $1M in pre-orders for IQbuds² MAX sales, since they were launched at CES in January 2020.

In eight weeks, the Company has now achieved record Direct to Consumer (DTC) paid order sales. Nuheara has achieved this result with a significant uplift in the Average Selling Price (ASP) achieved for all orders now exceeding $400 per unit. 76% of all orders have been placed by international (non-Australian) customers and of those, 68% are from the US.

“We are delighted to have had such a welcome signal from the market that IQbuds² MAX will be a valued product to thousands of consumers,” said Nuheara CEO Justin Miller.

“To have received such a positive pre-order response to our flagship IQbuds² MAX can be attributed to the three CES innovation awards, as well as the multitude of powerful product reviews from both mainstream and technology media.

“We are committed to manufacturing and shipping these pre-order units as quickly as we can and building our supply capacity for both DTC and traditional retailers.”

While all Nuheara hardware manufacturing is conducted in Malaysia, the current impact of Coronavirus is limited to managing some component supply chain logistics from China.

The $1M pre-order sales milestone also coincides with the release of Nuheara’s next generation app on both the Apple App Store and Google Play portals. This is the third major release of the IQbuds app and represents an all-new design backed by millions of hours of IQbuds listening experience and user feedback and testing.

“The new app is a generational leap forward in usability and design. It has been specifically designed to improve the customer experience and provide a framework for future app features and upgrades.” said Dr. Alan Davis, Chief Product Officer.

“We spend significant time analysing the way our users interact with our products and our new app is the culmination of years of experience in the direct-to-consumer hearing space. It is an important market differentiator for us and allows us to provide an integrated hearing healthcare solution for our customers.”

“The app has been designed to be compatible with all our IQbud and IQstream offerings, meaning our existing user base of IQ products will benefit from this new release.”

The app is compatible with Nuheara’s IQ product line of IQbuds, IQbuds Boost, IQbuds2 Max and IQstream TV. It has been approved by Apple for release and is expected to be available for download on the Apple App store and Google Play starting Friday 28th February 2020.

This announcement has been approved for release by the CEO Mr Justin Miller.

Contacts

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.

The Company’s mission is to transform the way people hear by creating smart hearing solutions that are both accessible and affordable.

Learn more about Nuheara: www.nuheara.com