WiSA Technologies, Inc. - WISA STOCK NEWS

WiSA Technologies, formerly Summit Wireless Technologies, reported a significant 172% revenue increase in 2021, totaling $6.54 million. The company announced its name change and aims to leverage its core technology to capture new consumer market segments in 2022. WiSA plans to introduce new products, with a focus on lower price points for wireless audio solutions, estimating a total addressable market exceeding 1 billion units. The company forecasts a 30-50% revenue growth for 2022, despite potential supply chain challenges affecting the early year.

Summit Wireless Technologies, Inc. (NASDAQ: WISA), a leader in wireless sound technology, will hold a business update call on March 11, 2022, at 8:00 a.m. PT to discuss its fourth quarter results. Interested participants can join the call by dialing 669-900-6833 and entering the meeting ID 91495943950. A live webcast will be available on the company's investor relations website.

Summit Wireless specializes in immersive audio experiences via its WiSA technology for home entertainment systems.

WiSA, a subsidiary of Summit Wireless Technologies (NASDAQ: WISA), is set to integrate its advanced multichannel spatial audio software into Realtek's 5GHz IoT audio platform. This collaboration aims to create a cost-effective IoT solution capable of delivering high-definition spatial audio streams, offering an immersive audio experience. Realtek's President, K.Y. Yen, emphasized the importance of partnering with WiSA to enhance their IoT audio products. Samples of the new technology are expected to be available in 2022.

WiSA partners with Realtek to integrate its high-performance spatial audio technology into Realtek's 5GHz IoT audio platform, enhancing smart devices with immersive audio capabilities. This collaboration aims to create a cost-effective IoT module that delivers uncompressed, high-definition audio streams. Samples are expected in 2022. The partnership aligns with WiSA's strategy to expand its market presence in the spatial audio sector, leveraging Realtek's extensive customer base and semiconductor expertise.

Summit Wireless Technologies (NASDAQ: WISA) reported preliminary revenue of approximately $2 million for Q4 2021, marking a substantial increase of over 90% year-over-year. Total revenue for 2021 is estimated at $6.5 million, a rise of more than 170% compared to 2020. The company's growth is fueled by its spatial audio technology and the WiSA Wave program, which attracted nearly 1 million visitors in Q4 alone. As of December 31, 2021, cash and cash equivalents stand at about $13.1 million.

WiSA, a subsidiary of Summit Wireless Technologies (NASDAQ: WISA), has launched a new website to enhance product promotion and market expansion, particularly in Europe and China. The new site follows significant web traffic growth, with nearly 1 million visitors in Q4 2021 and 2 million throughout 2021. WiSA anticipates traffic will increase to 3-5 million in 2022. Key achievements include the launch of the WiSA Certified Retailer Program and ongoing consumer education initiatives.

WiSA, LLC, a subsidiary of Summit Wireless Technologies (NASDAQ: WISA), announced that its immersive sound module has been integrated into TCL’s X925 Pro 8K Mini-LED Smart Screen. This technology enables wireless connections to external speakers for superior audio quality. Ellen Wang, TCL’s R&D Director, highlighted the module's role in delivering an immersive experience. The TCL X925 Pro has previously won the ‘Best of Innovation’ award at CES 2022 for its advanced features. WiSA promotes spatial audio solutions in collaboration with leading consumer electronics firms.

Summit Wireless Technologies (NASDAQ: WISA) has announced a partnership with Espressif Systems to create a 2.4GHz wireless audio module named Discovery, designed for cost-effective and reliable audio transmission for sound bars and smart TVs. The module supports four independent 48kHz audio channels and meets video lip-sync requirements. It features Dynamic Network Optimization for enhanced reliability and will be showcased at CES 2022 in Las Vegas from January 5-7, with evaluation kits available later in January.