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Nuheara: Invoiced quarterly revenue grows 543pc in Q1 FY21 | Fintech InShorts: Latest fintech news, analysis by experts

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Nuheara: Invoiced quarterly revenue grows 543pc in Q1 FY21

By Steve Sam

October 20, 2020

Hearing device maker Nuheara (NUH) has seen a 543 per cent growth in invoiced quarterly revenue for Q1 FY21
The company delivered record sales in the quarter which it contributes to ongoing IQbuds² MAX pre-orders, receiving quality certification and partnering with HP
Total invoiced sales exceeded $3.5 million, which is more than the entirety of FY20’s $1.7 million
Further, Nuheara burnt just under $1.9 million with the majority going towards product manufacturing and operating costs
The company has a cash balance of $1.54 million, representing less than one quarter of available funding
Finally, Nuheara will be receiving up to $3.7 million from its partnership with HP in the next quarter

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