DACs — Audio Note Izvor

The Izvor is a discrete ladder digital-to-analogue conversion module from Audio Note (UK), announced in May 2026 after about twelve years of development. IZVOR is a Slavic word meaning source, spring or well. Rather than a converter chip, the module builds its R2R array from individual resistors, and Audio Note fits it into selected existing models, namely the Fifth Element, the DAC 5 and the DAC 4.1 Balanced. An upgrade scheme is offered to owners of those converters.

Key specs that matter

The IZVOR module converts at 18 bits and takes 44.1, 48 and 96 kHz input. In the DAC 5 IZVOR the inputs are an RCA S/PDIF connection at 75 ohm and an XLR AES/EBU connection at 110 ohm. That converter delivers a 3.2 V RMS reference output, balanced or single-ended, from an output impedance below 10 ohm, with channel balance under 0.2 dB. It weighs 22 kg and measures 145 mm high, 450 mm wide and 425 mm deep.

Engineering and use context

The ladder is populated with bespoke 1 W resistors made to tolerances of less than 1 percent, designed for this project. They are hand-soldered instead of the surface-mount parts usually found in ladder converters, and the aim stated by the company was to use the same calibre of resistors as in its phono stages. The converter code was written by Andrejs Dmuhovskis together with the engineer who led the project after the company set aside conventional chip designs in 2014. The design is non-oversampling, and applies neither digital filtering nor jitter correction, noise shaping or re-clocking. The DAC 5 IZVOR uses one 5814a, one 6463, one 6X5, one ECL82 and one 5651 valve, and its output line stage is an upgraded M8 preamplifier circuit feeding silver-wired output transformers with a 33 to 1 step-down ratio. The patented Galahad feed-forward supply provides full valve rectification, and the digital power supply reaches a noise floor of around minus 130 dB. The Special version uses 1 W non-magnetic Nichrome resistors, silver foil signal capacitors, Kaisei NP electrolytics and 50 percent nickel output transformers. The Signature adds silver end caps on the Nichrome resistors, Blackgate electrolytics, 55 percent nickel output transformers and an HHiB mains transformer.

Pairing

The balanced XLR input makes a transport with an AES/EBU output the natural source, while the coaxial input covers S/PDIF transports. The low output impedance allows the converter to drive preamplifiers or long interconnects through either output type. Audio Note offers anodised aluminium or black acrylic fascias, with custom colours on request.

Alternatives

The Audio Note DAC3.1x is a converter from the company's Level 3 range that uses an Analog Devices AD1865 chip instead of a discrete resistor ladder.