Nuheara generates over $2 million in pre-sales for IQbuds² MAX
Nuheara has reported quarterly sales growth of 92% on a year-on-year basis.
Audio wearables company Nuheara (ASX: NUH) published an interim pre-sales update for its new IQbuds² MAX and said it has surpassed $2 million in pre-orders with consumer shipments set to occur in the coming weeks.
The new product was launched via Nuheara’s direct to consumer channel with initial sales said to be “very encouraging” as the company moves to mobilise deliveries of thousands of units over the coming months.
IQbuds² MAX was launched in January 2020 as the company’s flagship product and claiming to be the next generation of hearable technology, giving users the power to control and alter their “soundscape”.
Nuheara says it designed the product to deliver good sound quality in a range of environments, thereby suiting the wide range of backgrounds its customers come from. The new MAX buds will offer active noise cancellation and Ear ID personalisation that provide noise control and sound fidelity in an advanced hearing bud.
The product won recognition as part of three separate innovation awards at this year’s CES show in Las Vegas, in the wearables, home audio components and health and wellness categories.
Currently, IQbuds² MAX is available for pre-order for $570 and includes features such as pitch-perfect sound, tap-touch and gesture control, muted background noise and water resistance.
Market landing
After being unveiled in January, IQbuds² MAX is now entering the logistics phase after Nuheara reported that it sold 5,000 units in pre-orders.
The ongoing COVID-19 pandemic that has plagued businesses in all sectors and industries for the past three months, has not been problematic for Nuheara, according to the company.
On a year-on-year basis, Nuheara has achieved sales growth rates of 197% in the US, 83% in the UK and 51% in Canada with as many as 85% of all sales in the current quarter coming from overseas markets such as the EU and North America.
Australian orders account for 15% of its total orders although this could soon change after the company confirmed it was preparing an “aggressive marketing push” to hasten customer acquisition and boost sales.
Nuheara’s chief executive officer Justin Miller explained that the pandemic has served to underline the company’s resilience although he did confirm that pandemic logistics are still adversely impacting delivery schedules.
“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,” he said.