Welcome to our dedicated page for WiSA Technologies news (Ticker: WISA), a resource for investors and traders seeking the latest updates and insights on WiSA Technologies stock.
WiSA Technologies, Inc. (WISA) is a pioneering company specializing in wireless sound technology. As a fabless semiconductor firm, it focuses on developing and selling advanced wireless audio integrated circuits. These state-of-the-art circuits are designed to deliver high-definition, distortion-free audio for a range of home entertainment and professional audio markets.
Headquartered in Beaverton, Oregon, with additional offices in San Jose, California, as well as in Taiwan, Korea, and Japan, WiSA Technologies is strategically positioned to serve a global market. The company boasts an extensive geographic presence across Asia Pacific, North America, and Europe.
WiSA Technologies is renowned for its award-winning Summit Wireless™ technology. This leading integrated circuit solution is widely recognized for its ability to distribute high-quality audio wirelessly. Summit Wireless™ technology can be seamlessly integrated into audio decoding sources such as digital televisions, sound bars, PA systems, AV receivers, Blu-ray players, set-top boxes, and gaming systems. These sources transmit multi-channel audio to home theater or pro-audio speakers equipped with Summit receive technology.
In addition to selling module components to audio companies, WiSA Technologies also offers audio products to both resellers and consumers. The company collaborates closely with consumer electronics companies, technology providers, retailers, and ecosystem partners to enhance the immersive audio experience for users.
WiSA Technologies is a co-founder of the Wireless Speaker and Audio Association (WiSA) standard, which promotes interoperability among various audio components. The company's recent achievements and current projects emphasize its commitment to innovation and quality in the audio technology sector.
Stay tuned for updates from WiSA Technologies as they continue to make strides in the wireless audio industry, delivering cutting-edge solutions and expanding their global footprint.
WiSA Technologies (NASDAQ: WISA) has filed a Preliminary Proxy Statement for its Annual Meeting regarding its planned $210 million acquisition of Data Vault Holdings' assets. The purchase price includes 40 million shares at $5 per share, a $10 million 3-year Note, and a 3% royalty on applicable product revenues. The acquisition encompasses AI, blockchain, and Data Web 3.0 IP assets, including High-Performance Computing software and acoustic technologies IP. Data Vault's recent achievements include receiving three new patents, launching DVHolo hologram product suite, partnering with CLEAR for KYC solutions, and launching VerifyU with Arizona State University.
WiSA Technologies (NASDAQ: WISA) reported strong Q3 2024 results with revenue reaching $1.2 million, up 52% from Q3 2023 and 240% from Q2 2024. The growth was primarily driven by a $0.7 million increase in Components sales, partially offset by a $0.3 million decrease in Consumer Audio Product sales. Gross margin improved to 19% compared to -217% in Q3 2023. The company reported $3.9 million in cash as of September 30, 2024. WiSA E technology is now shipping in media boxes with Android OS and is expected to be in stores for Christmas, with plans to expand into Linux implementations in 2025.
WiSA Technologies (NASDAQ: WISA) has announced its upcoming third quarter 2024 results conference call, scheduled for November 15, 2024, at 8:00 am PT / 11:00 am ET. The company, which has entered a definitive agreement to acquire assets of Data Vault Holdings, will host the call via webcast with dial-in options available for both domestic and international participants. A replay will be accessible for 90 days via webcast and through November 22, 2024, via telephone. The Q3 2024 results presentation will be available on the company's website under the Investors section. The proposed asset purchase, announced on September 4, 2024, is expected to close in Q1 2025, subject to stockholder approval.
Data Vault Holdings has received three new patents and one allowance from the US Patent Office for its Web 3.0 data, blockchain, and AI technologies. The patents cover blockchain-driven data scoring, secure token systems, and brain-computer interface technologies. These patents are part of the asset purchase agreement with WiSA Technologies (NASDAQ: WISA), announced on September 4, 2024. The deal, expected to close in Q1 2025, includes Datavault® and ADIO® IP assets.
The patents align with growing markets: the Data Monetization Market is projected to reach $17 billion by 2031, while the neurology market is expected to hit $71 billion by 2033.
Data Vault Holdings has launched DVHolo, a next-generation hologram product suite powered by ADIO® and developed with HYPERVSN. The company, which has agreed to sell its Datavault® and ADIO® assets to WiSA Technologies (NASDAQ: WISA), introduces this technology for advertising, signage, and live events. DVHolo offers significant advantages including 40% longer viewing times compared to traditional 2D signage, double the visibility of holographic images, and up to 40% increase in sales of promoted products. The global holographic display market is projected to reach $23 billion by 2032.
WiSA Technologies (NASDAQ: WISA) has pre-announced Q3 2024 revenue estimated at $1.0 million to $1.2 million, representing over 200% sequential growth from Q2 2024's $0.3 million. This growth is driven by sales of WiSA's multichannel wireless audio technology, including WiSA HT and the new WiSA E IP. A multi-national licensee has begun shipping products integrating WiSA E software and modules, triggering royalty payments and additional revenue from WiSA E-enabled receiver module sales.
WiSA has secured five WiSA E licensing agreements to date, aiming for eight by the end of 2024. The company is positioning itself to penetrate multiple end markets through top-tier licensing partners, expanding premium audio experiences across devices. WiSA plans to file its Q3 2024 Form 10-Q on November 14, 2024, with an investor conference call scheduled for the following morning.
WiSA Technologies, Inc. (NASDAQ: WISA) has appointed Stanley Mbugua as Vice President of Finance, effective September 30, 2024. He will also assume the role of Chief Accounting Officer on November 30, 2024. Mbugua, 54, brings extensive experience from multinational technology companies, having previously served as Chief Accounting Officer at Presto Automation, Inc. and Skillz, Inc.
As part of his appointment, Mbugua was granted 70,000 shares of restricted stock as an inducement, vesting over a 36-month period starting December 20, 2024. CEO Brett Moyer expressed confidence in Mbugua's ability to shape WiSA's financial future during this transitional phase aimed at significant growth.
Data Vault Holdings has partnered with CLEAR, a security identity platform, to enhance its Know Your Customer (KYC) solution. This collaboration aims to address growing KYC needs, particularly in the NIL (Name, Image, Likeness) era. By integrating CLEAR's technology, Data Vault Holdings will improve security, compliance, and trust for new user accounts, especially in securing NIL rights and financial transactions.
The partnership is timely, as global AML and KYC spending is projected to grow from $3.1 billion in 2023 to $6.8 billion by 2028, with a CAGR of 17%. This collaboration will combine Data Vault Holdings' digital twinning and data monetization technology with CLEAR's identity verification platform, enhancing KYC accuracy and efficiency across various sectors.
Notably, Data Vault Holdings is under a definitive asset purchase agreement to sell its Datavault® and ADIO® IP and IT assets to WiSA Technologies, Inc. (NASDAQ: WISA). The closing of this transaction is expected before December 31, 2024, subject to customary conditions and stockholder approval.
Data Vault Holdings, Inc.®, under a definitive asset purchase agreement with WiSA Technologies, Inc. (NASDAQ: WISA), has launched VerifyU, a blockchain-based academic credential verification platform, in collaboration with Arizona State University (ASU). VerifyU offers secure, real-time verification of academic credentials, addressing the needs of students, educational institutions, and employers.
Key points:
- ASU is the first to utilize VerifyU's blockchain and AI technology
- Datavault aims to license VerifyU to 20-30 educational institutions in 2025
- The global education verification service market is projected to reach $177 billion by 2030
- VerifyU plans to charge students a one-time fee for lifetime access
- Revenue will be shared between Datavault and participating universities
Datavault Holdings, Inc.®, set to be acquired by WiSA Technologies, Inc. (NASDAQ: WISA), will present at the New York Scientific Data Summit (NYSDS) 2024 on September 16-17. The company will showcase its PhytoIntel platform, focusing on Digital Twin technologies for bioenergy crop optimization. CEO Nathaniel Bradley will discuss advancements in Bioenergy Digital Twins. The summit features experts from various sectors, exploring topics like model accuracy and machine learning integration. McKinsey projections highlight the growing importance of Digital Twins, forecasting a 60% annual market growth to $73.5 billion by 2027. The technology is becoming important for supply chain transformation and advanced industries.
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