WiSA Technologies, Inc. - WISA STOCK NEWS

WiSA Technologies has unveiled its new WiSA E technology, offering a wireless audio solution for TV manufacturers that enables high-quality multichannel audio transmission to up to 10 discrete speakers without needing an HDMI cable. This innovation is seen as a response to consumer demand for immersive audio experiences without the additional costs of soundbars. The technology supports advanced formats like 5.1.4 Dolby Atmos, ensuring that users can enjoy premium sound quality. CEO Brett Moyer emphasizes the importance of this technology in providing cable-free immersive audio experiences.

WiSA Technologies, Inc. (WISA) reported Q4 2022 revenue of $0.9 million, unchanged from Q3 2022, significantly down from $2.0 million in Q4 2021. The gross margin plummeted to 2% from 30% a year ago, attributed to excess inventory and sluggish consumer spending on electronics. The company anticipates $1.1 million lower operating expenses in Q1 2023 due to reduced discretionary spending. Despite current challenges, WiSA expects revenue growth in 2023 driven by new product introductions and replenished inventories. Recent highlights include successful demonstrations of their technology at CES 2023 and ongoing customer interest in their product portfolio.

WiSA Technologies, Inc. (NASDAQ: WISA) announced that Pylon Audio’s Jasper line of loudspeakers has achieved the WiSA HT Interoperability Certification. This certification ensures that Jasper speakers, including the Jasper 25 mkll, Jasper Monitor 18, and Jasper 23, seamlessly integrate with other WiSA-certified products. The speakers are set to be available for purchase in select countries starting March 6. This certification enhances Pylon Audio's commitment to delivering high-definition, multichannel audio experiences.

WiSA Technologies, Inc. (NASDAQ: WISA), known for its spatial wireless sound technology, is set to report its Q4 and full-year 2022 results on March 16, 2023, before market open. A conference call will follow at 8:00 am PT to discuss the results and provide business updates. The call will be accessible via a live webcast or by phone. Replays will be available post-call. The company is a pioneer in immersive sound solutions, collaborating with major brands like LG and Harman International. Further details can be found on the company’s website.

WiSA Association, a subsidiary of WiSA Technologies (NASDAQ: WISA), announced that its member Mesanovic’s CDM65 Controlled Directivity Monitor speaker has received the WiSA HT Interoperability Certification. Scheduled for shipping in May 2023 and currently available for pre-order, the speaker features active three-way digital signal processing and compatibility with various WiSA transmitters. Designed for premium performance, the CDM65 allows users to upload customized sound settings, including a cardioid mode that enhances sound directionality. The speaker can be integrated with the Platin Stereo Hub for versatile connectivity options.

WiSA Technologies, Inc. (NASDAQ: WISA) has completed a registered direct offering of 583,306 shares of common stock and concurrent private placement of warrants, raising approximately $6.2 million. The offering's combined price was $10.68 per share and warrant, with the warrants expiring in five years at an exercise price of $10.49 per share. Maxim Group LLC acted as the placement agent for this transaction.

The shares were issued under a previously effective shelf registration statement, while the warrants are unregistered. The Company aims to utilize this capital to enhance its development of spatial audio technologies for smart devices.

WiSA Technologies (NASDAQ: WISA) has announced the shipment of its new WiSA E development kits designed for multichannel audio systems. This software-based, 8-channel immersive audio solution operates on the 5GHz Wi-Fi band, offering low latency and tight synchronization, essential for high-quality audio experiences with Dolby Atmos and DTS-X. The company highlights strong demand from beta customers and positions WiSA E as a plug-and-play module or IP license for easy integration into TV SoC platforms. This innovation aims to enhance the home entertainment experience at an affordable price.

WiSA Technologies, Inc. has announced a registered direct offering of 583,306 shares of common stock and concurrent private placement of warrants to raise approximately $6.2 million. The offering price is set at $10.68 per share, with warrants exercisable at $10.49. This capital infusion aims to bolster WiSA’s growth in the spatial audio technology market. The offering is expected to close on February 3, 2023, pending customary closing conditions. Maxim Group LLC serves as the exclusive placement agent for this offering.

WiSA Technologies, Inc. (NASDAQ: WISA) announced a 1-for-100 reverse stock split approved by its Board of Directors on January 24, 2023. The split will take effect on January 26, 2023, at 5:00 p.m. ET, with trading on a split-adjusted basis beginning January 27, 2023. The new CUSIP number for the common stock will be 86633R302. Shareholders with stock certificates will receive exchange instructions from VStock Transfer, LLC, while those holding shares in brokerage accounts need not take action. This move follows the company’s ongoing efforts to comply with Nasdaq listing standards.