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AUDEARA LIMITED — Capital/Financing Update 2024
Oct 7, 2024
64455_rns_2024-10-07_b3f5be1e-4d96-454b-ba77-ac046ba3d279.pdf
Capital/Financing Update
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08 October 2024
Highlights
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$570,000 purchase order received from Clinico Inc., Taiwan’s largest hearing aid retailer
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Order is for Clinico-branded healthy hearing earbuds which incorporate the Company’s leading sound personalisation technology
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International product launch will coincide with a broader Australian launch in the coming months through AUA’s online channels and audiology clinics
Audeara Ltd (ASX: AUA) (‘Audeara’ or ‘the Company’) is pleased to advise that Clinico Inc. (‘Clinico’), the largest hearing aid retailer in Taiwan, has placed a purchase order valued at $570,000 for Clinico branded healthy hearing earbuds. The order signifies the next phase of Audeara’s partnership agreement with Clinico and underlines their commitment to expanding their audiology and health distribution network with Audeara’s innovative hearing solutions.
Strategic Significance
This purchase order is a significant milestone for Audeara, demonstrating strong confidence from Clinico in the Company’s product line following an extensive period of co-development and collaboration.
The purchase order follows an initial agreement between the two companies to develop healthy hearing solutions and a cash deposit from Clinico to Audeara (refer ASX announcement: 5 August 2024).
The earbuds will be marketed and distributed across Taiwan and China, with an official product launch anticipated in Q2 FY25. Audeara will provide further updates as the product launch approaches. The co-development partnership and launch with Clinico is part of Audeara’s strategic focus on expanding its international footprint and aligning with market leading brands.
Market Impact
The launch of Audeara’s new healthy hearing earbuds is expected to further solidify the Company's presence in the Asian market. Clinico’s established market leadership in Taiwan and strong presence in China unlock a significant opportunity for Audeara to increase its market share in these regions. The partnership with Clinico highlights the demand for Audeara’s proprietary suite of innovative, tailored hearing solutions, in direct alignment with the
Company’s global growth strategy. The timing and size of any future orders will be determined by the market success of the product in its initial rollout phase.
Audeara CEO and founder, Dr James Fielding, commented:
“We are pleased to confirm this purchase order from Clinico, which demonstrates the strength of our ongoing partnership and the confidence Clinico has in Audeara’s products. This order marks a crucial step towards the launch of our new earbuds, and we look forward to expanding our footprint in major Asian markets through world-class distribution partners.
“The sale also establishes product-market fit for Audeara products through wholesale channels, which has the potential to drive additional margin growth as additional orders are realised. Clinico is an established leader in the audiology industry, and together, we are committed to delivering world-class hearing solutions for what is a major global addressable market.”
This announcement has been authorised by the board of Audeara Limited.
For more information please visit, audeara.com .
| CORPORATE & MEDIA ENQUIRIES | CORPORATE & MEDIA ENQUIRIES | CORPORATE & MEDIA ENQUIRIES | INVESTOR ENQUIRIES | INVESTOR ENQUIRIES |
|---|---|---|---|---|
| Dr James Fielding Managing Director and Chief Executive Ofcer [email protected] |
Henry Jordan Six Degrees Investor Relations [email protected] |
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ABOUT AUDEARA
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Audeara Limited (ASX: AUA) is a global hearing health leader specialised in innovative listening solutions for people with hearing challenges.
We are passionate about redefining hearing health, with a particular focus on delivering products that provide world-class tailored listening experiences.
We care about connecting people with experiences that bring them joy - whether that’s watching a favourite TV show, FaceTiming family or listening to music with confidence.
All Audeara products are purposefully designed and engineered in Australia with precision detail and state-of-the-art technology. Each product delivers optimum listening experiences to enhance quality of life for people of all ages and abilities.
Audeara sells its products through distributors and resellers in Australia, Europe, Asia and North America, and through e-commerce channels.