Audeara's Milestone in Technology Business Unit Growth

Audeara Limited (ASX: $AUA) has achieved a significant milestone as its AUA Technology business unit secured its first purchase order for mass manufacturing for a third-party brand. This marks the largest single order Audeara has received since its inception and signifies the transition from the development phase to the contract manufacturing and licensing phase with its music instrument customer, as initially announced in Q2 FY23. The commercial launch of the product to the market is anticipated in H1 FY25.

Executive Commentary on the Milestone Purchase Order

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.

Summary of Audeara's Milestone Purchase Order

Audeara's achievement of securing the first mass production purchase order for its AUA Technology business unit represents a significant step towards the company's strategic focus on the growth of its technology licensing division. The $2.1m AUD purchase order from Avedis Zildjian is expected to have a substantial positive impact on the company's cashflow, contributing to its push toward breakeven and profitability. The timing and size of any future orders will be determined by the market success of the product. Audeara anticipates that this milestone is just the beginning of future product sales and licensing agreements, reflecting its ambition to expand the reach of its technology through collaborations with established industry leaders.