Audio wearables company, Nuheara launches Direct to Consumer Self Care hearing online platform

NUH

Nuheara Limited (ASX: NUH) is a leading audio wearables technology company that develops and provides personal hearing devices based on proprietary and multi-functional intelligent hearing technology that improves a person’s hearing and supports cable free connection to smart devices. Nuheara is headquartered in Australia, with offices in San Francisco and New York, USA as well.

On April 12th, 2019, the company announced the launch of its Direct to Consumer (DTC) platform, enabling a full self-care hearing journey that begins online. Building on its original website, Nuheara has revolutionised the customer journey to cater directly to the customers’ needs by providing a choice of world-leading online hearing assessments that categorises their level of hearing. Thus, customers can understand whether they may need hearing assistance and determine what level of self-care they would suit them effectively.

The company’s CEO Justin Miller remarked, “Proven DTC success models include Smile Direct Club in orthodontics and Warby Parker in optical which have changed the paradigm for self-care in those healthcare categories. These companies have generated strong levels of consumer awareness, sales and multi-billion-dollar valuations.”

Besides, the CEO also believes that their new program would remove the barriers to better hearing health by reaching out to people in remote locations, with products and technology that they can afford, and transform their lives for the better, at a much earlier age without delay.

Recently, he also presented at the Kepler Cheuvreux’s Hearing Aid Day in New York alongside leading investors and hearing aid companies including Demant, Intricon and GN Store Nord.

Earlier in March 2019, Nuheara was also invited to present at the globally renowned consumer healthcare conference by the Consumer Healthcare Products Association.

On February 20th, 2019, the company announced its interim financial results for the half-year ended December 31st, 2018 (H1 FY19), reporting strong sales with total revenue of $ 1.42 million, aligned with the latest strategic repositioning of its products and the diversification of its retail channel.

The newly launched IQbuds BOOST™ achieved 73% of all unit sales in H1 FY19 with an average selling price (ASP) over $ 400 per unit. The overall ASP per unit of all products increased from $ 181 in H1 FY18 to $ 337 in H1 FY19. As for the other products, IQbuds MAX™ completed the EVT production cycle, IQstream TV™ is currently in late stages of pre-production and will begin compliance testing in the coming weeks for certification and release while LiveIQ™ production remains on hold and subject to ongoing OEM interest.

Nuheara has around 980.66 million outstanding shares. At the time of trading on Friday, April 12th, 2019 (01:35 PM AEST), the NUH stock price is trending at AUD 0.077, down 2.53% by AUD 0.002 with ~ 2.06 million shares traded. NUH stock’s YTD return also stands positive at 11.27%. Recently, Jamore Pty Ltd purchased new ordinary shares representing 5.29% stake in the company. Besides, the company’s Director Kathryn Foster also bought around 640,000 new fully paid ordinary shares of Nuheara.


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