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.
Summit Wireless Technologies (NASDAQ: WISA) reported a 141% increase in Q4 2020 revenue, exceeding $1 million compared to $430,000 in Q4 2019. The company achieved a gross margin of 24%, up from 17% in Q3 2020. Cash reserves grew to $7.4 million from $298,000 YoY. For Q1 2021, revenue is projected to increase by at least 100% YoY, with gross margins expected in the mid-20s. The company anticipates more than 1 million visitors to its sites in 2021, fueled by its WiSA Wave marketing program.
Summit Wireless Technologies (NASDAQ: WISA) announced that the AU810PB 4K UHD Smart Dual Laser CineBeam Projector from LG Electronics is now available, marking it as the first WiSA Ready™ projector. Priced at $3,999, it supports seamless wireless audio with WiSA Certified™ speakers and offers projection sizes from 40 to 300 inches. This innovation enhances home entertainment, delivering immersive audio-visual experiences via LG's webOS platform. Both companies emphasize the impact of this projector in transforming consumer home entertainment.
Platin Audio has announced the launch of the Platin Milan 5.1, an immersive wireless surround sound system following the success of the Platin Monaco 5.1. This system features WiSA Certified components and a 24-bit uncompressed audio experience. It includes compact satellite speakers and a powerful subwoofer, all controlled via the SoundSend application. Available now on Amazon and from Platinaudio.us, the Milan aims to enhance home cinema experiences at a competitive price. Summit Wireless Technologies, Inc. (WISA) supports the interoperability of audio devices through WiSA standards.
Summit Wireless Technologies, Inc. (Nasdaq: WISA) has announced that President and CEO Brett Moyer will participate in the 33rd Annual ROTH Conference and the Maxim Group 2021 Emerging Growth Conference. The ROTH Conference will feature virtual 1x1 meetings on March 15-16, while the Maxim Group conference includes a webcasted fireside chat on March 18 at 11:00 am ET and additional virtual meetings on March 17-18. Presentation materials will be available on the company's Investor Relations website.
Summit Wireless Technologies, Inc. (NASDAQ: WISA) will hold a conference call on March 12, 2021, at 8:00 a.m. PT / 11:00 a.m. ET to discuss its fourth quarter results and provide a business update. Interested participants can join the live broadcast by calling 877-423-9813 or 201-689-8573, using code 13716790. A webcast with slides will be available on the company's investor relations website. An audio archive will be accessible for a week post-call. Summit Wireless specializes in immersive, wireless sound technology, collaborating with top brands in home entertainment.
Summit Wireless Technologies (NASDAQ:WISA) will showcase its wireless audio technology on February 10, 2021, during a presentation at the Society for Information Display (SID). Tony Parker, VP of New Business Development, will highlight the integration of wireless multi-channel audio with TVs, emphasizing the importance of interoperability in enhancing home entertainment experiences. With the growth of streaming services offering multi-channel audio, Summit aims to address consumer challenges by providing reliable solutions.
Summit Wireless Technologies, Inc. (NASDAQ: WISA) announced its recent receipt of approximately $5.1 million from exercised warrants. In Q4 2020, warrant holders exercised 320,000 shares for about $750,000, followed by 710,300 shares in January 2021 for around $1.7 million. Additionally, as of January 18, 2021, further agreements will allow for the exercise of 1,095,000 shares, generating approximately $2.6 million. The funds will primarily support working capital and corporate purposes.
Summit Wireless Technologies (NASDAQ: WISA) announced preliminary fourth-quarter revenue exceeding $1.0 million, marking a 130% increase from $430,000 in Q4 2019, driven by new customer design wins. CEO Brett Moyer attributes success to increased consumer engagement, with website visits up by 85%. For Q1 2021, the company expects revenue to grow over 100% year-over-year, surpassing $822,000. The results are preliminary and subject to final review. Final financial results for Q4 2020 will be published in mid-March 2021.
WiSA LLC, founded by Summit Wireless Technologies (NASDAQ: WISA), launched WiSA Wave, a digital marketing initiative driving consumer traffic. Since its launch on September 1, 2020, web traffic is projected to exceed 1 million visitors in 2021. In Q4 2020, over 185,000 consumers engaged with WiSA websites, a substantial increase from previous quarters. The program educates over 2,000 consumers daily about WiSA Certified products, enhancing marketing capabilities for members including LG and Klipsch.
WiSA LLC, a subsidiary of Summit Wireless Technologies (NASDAQ: WISA), announces new home cinema bundles in partnership with Electronic Express. These bundles include Hisense 4K smart TVs and the WiSA SoundSend audio transmitter, starting at $999.95. Offering significant savings of $200 to $500, the packages feature WiSA Certified™ Monaco 5.1 speaker systems with Dolby Atmos capabilities. This initiative aims to enhance the home cinema experience and boost WiSA's market presence in the growing wireless audio category.
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