Audeara Limited Secures First Mass Production Purchase Order Through AUA Technology

The AUA Technology business unit has received its first purchase order to mass manufacture for a third party brand. The Purchase Order marks the largest single order Audeara has received since inception.

By Mr Alex Afflick:

Audeara Limited (ASX:AUA) is pleased to announce a milestone in the growth of the AUA technology business unit, being the transition from development phase to contract manufacturing and licensing phase with its music instrument customer.

First announced in Q2 FY23, the project has reached a crucial phase of preparation for mass production ahead of the commercial launch of the product to the market, anticipated in H1 FY25.

The purchase order is expected to have a significant positive impact on the Company’s cashflow and its push toward breakeven and profitability, in keeping with Audeara’s strategic focus on the growth of its technology licensing division which does not incur sales and marketing expenditure.

 Audeara Co-Founder and CTO, Mr Alex Afflick, commented:

 “Through this exciting partnership with a global category leader, we are thrilled to see the technology we’ve been developing for years gain access to additional high scale markets. As part of that process, the team’s progress throughout the transition from hardware product development to professional services and licensing has been highly commendable. Building best-in-class audio solutions is our passion, and Audeara envisions that this partnership is just the beginning of future product sales and licensing agreements aimed at expanding the reach of our technology in collaboration with established industry leaders. ”

The value of the purchase order from Avedis Zildjian is $2.1m AUD. The timing and size of any future orders will be determined by market success of the product.

 

This announcement has been authorised by the board of Audeara Limited.

For more information please visit, audeara.com

Dr James Fielding
Managing Director and Chief Executive Officer
[email protected]

Henry Jordan
Six Degrees Investor Relations
[email protected]

 

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