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,,,,,,,WE’RE BUYING WISA NOW
WiSA Technologies Launches New App Delivering Powerful and Intuitive Control of WiSA-Enabled TVs, Soundbars, and External Transmitters
Source: Business Wire
Initial launch enables full control of WiSA SoundSend transmitters with a smartphone
WiSA Technologies, Inc. (NASDAQ: WISA), a leading provider of immersive wireless sound technology, has launched a new app enabling users of WiSA-enabled devices full control of their multichannel audio experience. The app is designed to work with any source device that uses WiSA HT, or the new WiSA E embedded software solution, including smart TVs, soundbars, and external transmitters such as the WiSA SoundSend. Initially targeting smartphone control of the WiSA SoundSend, the app is designed to be portable to popular smart TV operating systems, including WebOS® (LG), Android TV® (TCL, Hisense, Sony), Samsung’s Tizen®, the Amazon’s Fire® OS, Roku® OS, and the Vizio Smartcast® operating system.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221206005169/en/
$WISA COULD HIT $1! READ! https://pulse2.com/wisa-technologies-wisa-stock-could-hit-1-analyst/
Only a matter of time, this this is fly when it goes
Have to agree with that. RSI is oversold as well.
Check Out $WISA: Super Low Float with Offering Closed at $0.14 above market price. WISA is a NASDAQ stock!
$WISA Trading Volume Last Week was 12.2x Float vs. 0.31x Float the previous week. WISA closed an offering @ $0.14, well above market price of $0.11. WISA is a NASDAQ stock that is highly shorted. @MayaTrades @claydeath1 pic.twitter.com/dnwqpE3PTE
— DewmBoom (@dewmboom) December 4, 2022
That 15 min. chart though…
bollinger bands don’t get pinched like that too often.
Offering supposedly closed yesterday buy the price action tells a different story.
YEEEES MEGA , WISA BOUNCING NOW HARD
https://www.stockscores.com/charts/charts/?ticker=wisa
imho
monsta oversold https://stockcharts.com/h-sc/ui?s=WISA
Back to .20++ easy now
imho
.14 / .15 we coming tomorrow and soon too
many more
imho
Thank you
The board doesn’t come up properly when you add it to your watchlist.
I’ve asked admin to make the necessary adjustments.
That’s probably why nobody is chatting here - because they can’t find the board on their watchlist.
The board doesn’t come up properly when you add it to your watchlist.
I’ve asked admin to make the necessary adjustments.
That’s probably why nobody is chatting here - because they can’t find the board on their watchlist.
Good for you buying selling based on other's opinions' sure way lose it all, wish you lots luck. I'm here because offering .14, raises $50mm thus sp goes back over a buck, wait it out.
I just sold after I saw that. GLTA, I'll find me something else today. know the players , KNOW THE GAME 17 mil OS...
I just sold after I saw that. GLTA, I'll find me something else today. know the players , KNOW THE GAME 17 mil OS...
That's a strong endorsement...
$WISA 17M OS at .10 right now. You won’t find a better one to double your money on the Nasdaq. Low float season is Backk
— LADE BACKK (@LadeBackk) November 30, 2022
Offering .14 - $50mm raised, sp should recover imo Wait it out make bank imo
I've notice that. People are late, like 40% to most of the squeeze plays. Or maybe they don't have good scanners. Then again, maybe they don't see the Trend
No action on ihub - tweeter and other apps.
I'm glad someone is seeing this OTIC did the same yesterday premarket. but less volume
I'm in under a dime... above .09 $WISA
30 million volume Premarket
ongoing exploration of strategic alternatives 11/14/22
WiSA Technologies Has Retained Advisor to Explore Strategic Alternatives
October 31, 2022
https://finance.yahoo.com/news/wisa-technologies-retained-advisor-explore-110000586.html
.19 WiSA Ready - Easily enhance your home cinema.
Connecting high-fidelity speakers is easy – and wireless*– with WiSA connectivity. Enjoy high-quality and immersive surround sound. 2.1 Channel support only.
https://www.wisatechnologies.com/tvs
Summit Wireless Technologies Reports Preliminary 2021 Revenue, Up Over 170% Year-over-Year
January 18 2022 - 07:00AM
Business Wire
- Delivers Record Quarterly Revenue -
Summit Wireless Technologies (NASDAQ: WISA), reported that preliminary revenue for the fourth quarter ended December 31, 2021 is expected to be approximately $2.0 million, bringing the full year 2021 preliminary revenue to $6.5 million.
“Summit’s spatial audio technology and the WiSA Wave program are driving our growth, as Q4 delivered our sixth consecutive quarter of revenue increases and our first quarter of $2.0 million in revenue,” said Brett Moyer, CEO, President, and Chairman of Summit Wireless Technologies. “During the fourth quarter, the Wave attracted nearly 1 million consumers to the websites. Thus, the full year visitor count exceeded 2 million, up over 445% up from 365,800 in 2020. Building WiSA’s technology brand with consumers and the retail channel is accelerating with each visitor to our websites, to WiSA storefronts, and to certified product pages thereby building a strong foundation for launching new technologies this year.”
Preliminary Revenue
Q4 2021 preliminary revenue is expected to be approximately $2,000,000, up over 90% compared to $1,038,000 in Q4 2020, the quarter in which the Wave was introduced and first started to fuel revenue growth.
2021 preliminary revenue is expected to be approximately $6,541,000, up over 170% compared to $2,404,000 in 2020.
Cash Balance
At December 31, 2021, preliminary cash and cash equivalents are expected to be approximately $13.1 million.
Regarding 2022, management expects to continue to build WiSA’s technology brand by expanding the WiSA Wave effort to Europe and China, increase websites visitors to 3 million to 5 million, and launch more products. As part of the Wave initiative, the WiSA Association launched a new website www.wisatechnologies.com, which will serve as the primary site to promote WiSA products and expand category marketing initiatives.
About WiSA, LLC
WiSA® educates, evangelizes, and promotes solutions for spatial audio in the home. Working in collaboration with technology developed by Summit Wireless Technologies, WiSA engages with leading consumer electronics companies, technology providers, retailers, and ecosystem partners to make immersive audio an experience everyone can enjoy. WiSA, LLC - the Wireless Speaker and Audio Association - is a wholly owned subsidiary of Summit Wireless Technologies, Inc. For more information about WiSA, please visit: www.wisatechnologies.com.
About Summit Wireless Technologies, Inc.
Summit Wireless Technologies, Inc. (NASDAQ: WISA) is the developer of spatial, wireless sound technology for smart devices and next-generation home entertainment systems marketed under the WiSA brand. Summit’s technology delivers immersive audio experiences for high-definition content, including movies and video, music, sports, gaming/esports, and more. Headquartered in San Jose, CA, Summit Wireless has sales teams in Taiwan, China, Japan, and Korea. For more information, please visit: www.summitwireless.com.
* WiSA Ready TVs, gaming PCs and console systems are “ready” to transmit audio to WiSA Certified™ speakers when a WiSA USB Transmitter is plugged in and a user interface is activated through an APP or product design like LG TVs.
© 2022 Summit Wireless Technologies, Inc. All rights reserved. Summit Wireless Technologies and the Summit Wireless logo are trademarks of Summit Wireless Technologies, Inc. The WiSA logo, WiSA®, WiSA Ready™, and WiSA Certified™ are trademarks and certification marks of WiSA, LLC. Third-party trade names, trademarks and product names are the intellectual property of their respective owners.
Safe Harbor Statement
This press release contains forward-looking statements, which are not historical facts, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. As a result, readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of risks and uncertainties impacting Summit Wireless’ business including, current macroeconomic uncertainties associated with the COVID-19 pandemic, our inability to predict or measure supply chain disruptions resulting from the COVID-19 pandemic and other drivers, our ability to predict the timing of design wins entering production and the potential future revenue associated with our design wins; our rate of growth; our ability to predict direct and indirect customer demand for our existing and future products and to secure adequate manufacturing capacity; our ability to hire, retain and motivate employees; the effects of competition, including price competition within our industry segment; technological, regulatory and legal developments that uniquely or disproportionately impact our industry segment; developments in the economy and financial markets and other risks detailed from time to time in Summit Wireless’ filings with the Securities and Exchange Commission.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220118005466/en/
Kirsten Chapman, LHA Investor Relations, 415-433-3777, wisa@lhai.com
$WISA: There's your bottom boumcer now.
$3.10 broken and zooming.
GO $WISA
BALLA is on this one!!!! $WISA
Small float, small market cap runner today?
Summit Wireless Technologies Grew Revenue 354% in Q2 2021 and Guides for 180+% Full Year 2021 Revenue Increase Year-over-Year
Company is not profitable yet.
There will be many more offerings .
At a much lower price point .
Expansion cost money which the company doesn't have .
Sadly $4.00 a share is probaly it.
For a few years I just hope the shorts
don't pound this company into the ground.
Because they will be forced to do a reverse split if that happens then do more offerings to raise capital.
It's a buy at 1.75
Expect a few down grades next week .
I might be wrong but it appears to be headed that way .
NEWS~WISA’s Wave Campaign Continues to Build WiSA Certified Category with New Store on Amazon Featuring WiSA Products and Retailer Bundles Available Across Amazon’s Vast Platform
https://finance.yahoo.com/news/wisa-wave-campaign-continues-build-110000935.html
87 million volume so far!
WISA~ GREAT VOLUME
* * $WISA Video Chart 05-12-2021 * *
Link to Video - click here to watch the technical chart video
WiSA Association Certifies LG’s 2021 OLED and NanoCell TVs to be WiSA Ready
April 05 2021 - 07:00AM
Business Wire
WiSA leads consumer electronics industry with integration of new WiSA Ready™ LG models
WiSA® LLC, the Wireless Speaker and Audio Association comprised of over 70 leading consumer electronics brands and founded by Summit Wireless Technologies (NASDAQ: WISA), today announced WiSA Ready™ certification of LG’s 2021 OLED and NanoCell TVs further expanding its lineup of existing WiSA Ready™ TV models.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210405005071/en/
WiSA Ready™ LG 2021 OLED TV (Photo: Business Wire)
WiSA Ready™ LG 2021 OLED TV (Photo: Business Wire)
LG Electronics continues to lead numerous WiSA member brands, including Hisense, Skyworth, Bang & Olufsen and more who have integrated with WiSA technology for their premium TVs. Whether it be high-quality TVs or speaker systems, LG brings unmatched entertainment straight to any living room and remains a leader in integrating immersive audio connectivity. All WiSA Ready™ LG TVs easily connect to WiSA USB Transmitters, allowing seamless audio and control communication with all WiSA Certified™ speakers.
“LG has consistently led the way with cutting edge TVs that elevate home entertainment,” said Tim Alessi, LG USA’s senior director of home entertainment product marketing. “We were the first company to offer WiSA compatibility built-into our TVs and are pleased to continue to offer this capability in our new 2021 OLED and NanoCell models to allow consumers to connect wirelessly with their audio systems to create the most immersive viewing experience.”
These new LG TV models are designed to sync perfectly with WiSA technology, ensuring seamless speaker synchronization, high-fidelity sound and low-latency through a wide-ranging selection of WiSA Certified™ speakers from well-known brands like Klipsch, Enclave Audio and Axiim, among many others.
“We’re excited to see LG Electronics continue to produce TVs with amazing picture quality and additional industry-leading features to enhance cinema-like viewing experiences in the home,” said Tony Ostrom, WiSA President. “The 2021 OLED and NanoCell models are extraordinary examples of what sets our Association’s members apart from other CE brands.”
All WiSA Ready™ and WiSA Certified™ components work together to deliver multi-channel, wireless audio capabilities creating concert quality sound for the enjoyment of movies, sports, gaming, streaming and more. The syncing of LG TVs with any WiSA Certified™ speaker takes only minutes for setup and is controlled with the LG TV remote right from the TV’s user interface.
About WiSA, LLC
WiSA®, the Wireless Speaker and Audio Association, is a consumer electronics consortium dedicated to creating interoperability standards utilized by leading brands and manufacturers to deliver immersive sound via intelligent devices. WiSA Certified™ components from any member brand can be combined to dramatically increase the enjoyment of movies and video, music, sports, gaming/esports, and more. WiSA also ensures robust, high definition, multi-channel, low latency audio while eliminating the complicated set-up of traditional audio systems. For more information about WiSA, please visit: www.wisaassociation.org.
About Summit Wireless Technologies, Inc.
Summit Wireless Technologies, Inc. (NASDAQ: WISA) is a leading provider of immersive, wireless sound technology for intelligent devices and next generation home entertainment systems. Working with leading CE brands and manufacturers such as Harman International, a division of Samsung, LG Electronics, Klipsch, Bang & Olufsen, Xbox, a subsidiary of Microsoft, and others, Summit Wireless delivers seamless, dynamic audio experiences for high-definition content, including movies and video, music, sports, gaming/esports, and more. Summit Wireless is a founding member of WiSA, the Wireless Speaker and Audio Association and works in joint partnership to champion the most reliable interoperability standards across the audio industry. Summit Wireless, formerly named Summit Semiconductor, Inc., is headquartered in San Jose, CA with sales teams in Taiwan, China, Japan, and Korea. For more information about Summit Wireless Technologies, Inc., please visit: www.summitwireless.com.
* WiSA Ready TVs, gaming PCs and console systems are “ready” to transmit audio to WiSA Certified™ speakers when a WiSA USB Transmitter is plugged in and a user interface is activated through an APP or product design like LG TVs.
© 2021 Summit Wireless Technologies, Inc. All rights reserved. Summit Wireless Technologies and the Summit Wireless logo are trademarks of Summit Wireless Technologies, Inc. The WiSA logo, WiSA®, WiSA Ready™, and WiSA Certified™ are trademarks and certification marks of WiSA, LLC. Third-party trade names, trademarks and product names are the intellectual property of their respective owners.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210405005071/en/
Sarah Cox, Dittoe PR for WiSA, 765.546.1036, sarah@dittoepr.com
Keith Washo, WiSA Association, 984.349.272, kwasho@wisaassociation.org
WiSA Member Foxconn Demos Sharp 120-Inch 8K TV with WiSA SoundSend & Wireless Audio Speaker System at Appliance & Electronics...
March 23 2021 - 07:00AM
Business Wire
Foxconn will demo its new, huge 120-inch 8K TV connected to the award-winning WiSA SoundSend and Platin Monaco 5.1 speaker system at this week’s industry event in Shanghai
WiSA® LLC, founded by Summit Wireless Technologies (NASDAQ: WISA), today announced that Association member Foxconn will showcase WiSA technology in the form of the award-winning WiSA SoundSend and 5.1 WiSA Certified speaker system around its big, bold and beautiful 120-inch 8K TV at the Appliance & Electronics World Expo (AWE) in Shanghai, China, March 23-25.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210323005249/en/
Foxconn Sharp 120-Inch 8K TV (Photo: Business Wire)
Foxconn Sharp 120-Inch 8K TV (Photo: Business Wire)
The Foxconn booth at AWE will highlight immersive home entertainment audio and video experiences that are possible when a breathtakingly large and stunning screen is combined with a Tuned by THX™ 5.1 audio system that can be set up in minutes. The Sharp-branded 8K TV utilizes ARC/eARC and CEC to connect and communicate perfectly with the WiSA SoundSend, while mobile applications for iOS and Android make advanced tuning a simple process.
“We are thrilled to partner with Foxconn and Sharp at AWE to show what is possible when stunning, large-scale video and immersive audio are combined,” stated Tony Ostrom, WiSA President. “As TVs get bigger and more capable of accessing stunning, highly-produced content, we strive to enable the home entertainment experience to include amazing audio that is both easy to use and readily available. This combined demo at AWE is a great example of that goal being achieved.”
AWE is Asia’s largest consumer electronics show and offers top-tier products, technology exchange platforms, and CE brands from around the world. After being put on hold in 2020 due to the pandemic, this year’s expo will adhere to health and safety regulations to ensure a successful event.
For more information on the Association and its WiSA Ready and WiSA Certified products, visit www.wisaassociation.org.
About WiSA, LLC
WiSA®, the Wireless Speaker and Audio Association, is a consumer electronics consortium dedicated to creating interoperability standards utilized by leading brands and manufacturers to deliver immersive sound via intelligent devices. WiSA Certified™ components from any member brand can be combined to dramatically increase the enjoyment of movies and video, music, sports, gaming/esports, and more. WiSA also ensures robust, high definition, multi-channel, low latency audio while eliminating the complicated set-up of traditional audio systems. For more information about WiSA, please visit: www.wisaassociation.org.
About Summit Wireless Technologies, Inc.
Summit Wireless Technologies, Inc. (NASDAQ: WISA) is a leading provider of immersive, wireless sound technology for intelligent devices and next generation home entertainment systems. Working with leading CE brands and manufacturers such as Harman International, a division of Samsung, LG Electronics, Klipsch, Bang & Olufsen, Xbox, a subsidiary of Microsoft, and others, Summit Wireless delivers seamless, dynamic audio experiences for high-definition content, including movies and video, music, sports, gaming/esports, and more. Summit Wireless is a founding member of WiSA, the Wireless Speaker and Audio Association and works in joint partnership to champion the most reliable interoperability standards across the audio industry. Summit Wireless, formerly named Summit Semiconductor, Inc., is headquartered in San Jose, CA with sales teams in Taiwan, China, Japan, and Korea. For more information about Summit Wireless Technologies, Inc., please visit: www.summitwireless.com.
* WiSA Ready TVs, gaming PCs and console systems are “ready” to transmit audio to WiSA Certified™ speakers when a WiSA USB Transmitter is plugged in and a user interface is activated through an APP or product design like LG TVs.
© 2021 Summit Wireless Technologies, Inc. All rights reserved. Summit Wireless Technologies and the Summit Wireless logo are trademarks of Summit Wireless Technologies, Inc. The WiSA logo, WiSA®, WiSA Ready™, and WiSA Certified™ are trademarks and certification marks of WiSA, LLC. Third-party trade names, trademarks and product names are the intellectual property of their respective owners.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210323005249/en/
Sarah Cox, Dittoe PR for WiSA, 765.546.1036, sarah@dittoepr.com
Keith Washo, WiSA Association, 984.349.272, kwasho@wisaassociation.org
Hisense TVs Certified WiSA Ready™, WiSA’s Interoperability Standard Becoming Must-Have Feature for Smart TVs
March 18 2021 - 07:00AM
Business Wire
Leading consumer electronics brand Hisense drives consumer value with its WiSA Ready™ smart TV product line
WiSA® LLC, founded by Summit Wireless Technologies (NASDAQ: WISA), today announced a global collaboration with rapidly growing TV brand Hisense in which the brand’s premier 2021 TV models have been certified WiSA Ready™. This allows for a quick and simple connection to all WiSA USB transmitters and WiSA Certified™ Speakers to create amazing and immersive home cinema systems. Hisense joins numerous WiSA member brands, including LG, Skyworth, Bang & Olufsen, and more who are implementing integrated wireless technology into meaningful product lines and launches.
“Hisense is proud to be pushing the performance envelopes of video and audio with the launch of our 2021 North America TV models,” said David Gold, President of Hisense America. “WiSA continues to lead the emerging wireless audio category and we are proud to achieve WiSA Ready Certification and deliver solutions that will provide amazing, convenient, and immersive entertainment experiences for millions of consumers.”
Hisense is the fifth leading TV brand in the U.S. and the fastest growing among the top five TV brands in the U.S., by units*. The company’s continued growth and rapid rise in rankings is a testament to its success in the U.S. Their award-winning product lineup was well-received in 2020 and Hisense is continuing to build on its high-performing and high-quality products by bringing even more options to the market in 2021 for consumers to have a premium viewing experience.
“We are very excited to announce the WiSA Ready Certification of these amazing TVs from Hisense,” said Tony Ostrom, President of WiSA. “As the smart TV continues to solidify itself as the center of the home entertainment experience, it is critical for these multifunctional devices to own the front end of great audio performances. WiSA Ready TVs can be seamlessly connected to transmitters and speakers to create immersive sound with direct control from the TV. This is a huge step forward in simplifying the pursuit of bringing outstanding cinema quality entertainment into the home.”
About WiSA, LLC
WiSA®, the Wireless Speaker and Audio Association, is a consumer electronics consortium dedicated to creating interoperability standards utilized by leading brands and manufacturers to deliver immersive sound via intelligent devices. WiSA Certified™ components from any member brand can be combined to dramatically increase the enjoyment of movies and video, music, sports, gaming/esports, and more. WiSA also ensures robust, high definition, multi-channel, low latency audio while eliminating the complicated set-up of traditional audio systems. For more information about WiSA, please visit: www.wisaassociation.org.
About Summit Wireless Technologies, Inc.
Summit Wireless Technologies, Inc. (NASDAQ: WISA) is a leading provider of immersive, wireless sound technology for intelligent devices and next generation home entertainment systems. Working with leading CE brands and manufacturers such as Harman International, a division of Samsung, LG Electronics, Klipsch, Bang & Olufsen, Xbox, a subsidiary of Microsoft, and others, Summit Wireless delivers seamless, dynamic audio experiences for high-definition content, including movies and video, music, sports, gaming/esports, and more. Summit Wireless is a founding member of WiSA, the Wireless Speaker and Audio Association and works in joint partnership to champion the most reliable interoperability standards across the audio industry. Summit Wireless, formerly named Summit Semiconductor, Inc., is headquartered in San Jose, CA with sales teams in Taiwan, China, Japan, and Korea. For more information about Summit Wireless Technologies, Inc., please visit: www.summitwireless.com.
About Hisense USA Corporation and Hisense Company, LTD.
Hisense USA Corporation is a subsidiary of Hisense Company, Ltd., established in 1969 and headquartered in Qingdao, China. Hisense USA Corporation offers an innovative range of technology products that disrupt the consumer electronics industry, challenge the competition and provide significant value to consumers. To learn more contact Max Borges Agency for Hisense at hisense@maxborgesagency.com.
* WiSA Ready TVs, gaming PCs and console systems are “ready” to transmit audio to WiSA Certified speakers when a WiSA USB Transmitter is plugged in and a user interface is activated through an APP or product design like LG TVs.
© 2021 Summit Wireless Technologies, Inc. All rights reserved. Summit Wireless Technologies and the Summit Wireless logo are trademarks of Summit Wireless Technologies, Inc. The WiSA logo, WiSA®, WiSA Ready™, and WiSA Certified™ are trademarks and certification marks of WiSA, LLC. Third-party trade names, trademarks and product names are the intellectual property of their respective owners.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210318005031/en/
Sarah Cox, Dittoe PR for WiSA, 765.546.1036, sarah@dittoepr.com
Keith Washo, WiSA Association, 984.349.272, kwasho@wisaassociation.org
Max Borges Agency for Hisense hisense@maxborgesagency.com
Summit Wireless Technologies Reports Record Fourth Quarter 2020 Revenue and Gross Margin
March 12 2021 - 06:30AM
Business Wire
Q4 2020 Revenue Increased 141% Year-over-Year to a Record $1.0 Million; Operational Execution Drives Gross Margin Improvement to 24% from 17% in Q3 2020
Summit Wireless Technologies, Inc. (NASDAQ: WISA), a leading provider of immersive, wireless sound technology for intelligent devices and next-generation home entertainment systems, provided an update for the fourth quarter ended December 31, 2020.
Q4 2020 Financial Highlights:
Revenue increased 141% to over $1.0 million, compared to $430,000 in the fourth quarter of 2019.
Gross margin expanded to 24%, compared to 17% in the third quarter of 2020.
Cash and cash equivalents of $7.4 million at December 31, 2020, compared to $298,000 at December 31, 2019.
Q1 2021 Financial Guidance:
Revenue expected to increase at least 100% compared to the first quarter of 2020.
Gross margin expected to be in mid-20s range.
Cash and cash equivalents expected to range from $9 million to $10 million at March 31, 2021.
“With our WiSA Wave marketing program driving record revenue in the fourth quarter of 2020, we entered 2021 with substantial momentum,” said Brett Moyer, CEO of Summit Wireless. “Since launching the marketing initiative, the number of consumers driven to the WiSA Association, brand and retailer websites grew significantly, enabling us to educate and connect with those looking for a simple, immersive home audio experience. The WiSA branded SoundSend multichannel wireless audio transmitter was recognized for its innovation at CES 2021 by the Consumer Technology Association. Today, WiSA supports over 70 consumer electronics brands as an industry standard and in 2021 over 25 brands will ship Summit Wireless technology.”
“We expect the explosive growth in consumer traffic at the WiSA Association and related websites to continue surpassing 1 million visitors in 2021, which will be a direct catalyst for our long-term operating performance. As WiSA members launch more products into the market, we anticipate capturing market share by providing consumers with our state-of-the-art audio technology across a variety of price points. I thank our industry partners, employees, and shareholders for their support thus far, and look forward to what I expect to be a breakout year for Summit Wireless,” concluded Moyer.
On today’s conference call, management will discuss expanding the WiSA Association to a consumer facing platform to drive retail sales.
Recent Business Highlights:
WiSA Wave marketing program drove record consumer traffic to over 185,000 visitors in the fourth quarter of 2020, which is expected to increase to over 1 million customers in 2021.
WiSA Association membership grew to over 70 brands in 2020.
Over 25 brands are shipping Summit Wireless technology in 2021.
LG Electronics WiSA Ready™ 4K UHD Smart Projector is now available in the United States.
Discovery, Summit’s first low-cost IoT module targeted at high volume, entry-level systems, launched at CES 2021.
WiSA SoundSend won three awards: CES 2021 Innovation Award Honoree, Dealerscope !MPACT Winner 2021 and Twice 2021 Picks Awards Winner.
Summit Wireless Investor Update Conference Call
Summit Wireless will host a conference call at 8:00 a.m. PT / 11:00 a.m. ET on Friday, March 12, 2021 to provide a business update. Shareholders and interested participants may listen to a live broadcast of the conference call by dialing 877-423-9813 or 201-689-8573 and referencing code 13716790 approximately 10 minutes prior to the start time and view accompanying slides at ir.summitwireless.com/events. To bypass the operator and receive a call rather than dialing in, please use the following link approximately 15 minutes prior to the call. A live webcast of the call and accompanying slide presentation will be on the investor relations section of the company’s website at ir.summitwireless.com and available for approximately one year. An audio archive can be accessed for one week by dialing 844-512-2921 or 412-317-6671 and entering conference ID 13716790.
About Summit Wireless Technologies, Inc.
Summit Wireless Technologies, Inc. (NASDAQ: WISA) is a leading provider of immersive, wireless sound technology for intelligent devices and next-generation home entertainment systems. Working with leading CE brands and manufacturers such as Harman International, a division of Samsung, LG Electronics, Klipsch, Bang & Olufsen, Xbox, a subsidiary of Microsoft, and others, Summit Wireless delivers seamless, dynamic audio experiences for high-definition content, including movies and video, music, sports, gaming/esports, and more. Summit Wireless is a founding member of WiSA, the Wireless Speaker and Audio Association and works in joint partnership to champion the most reliable interoperability standards across the audio industry. Summit Wireless is headquartered in San Jose, CA with sales teams in Taiwan, China, Japan, and Korea. For more information, please visit: www.summitwireless.com.
About WiSA, LLC
WiSA®, the Wireless Speaker and Audio Association, is a consumer electronics consortium dedicated to creating interoperability standards utilized by leading brands and manufacturers to deliver immersive sound via intelligent devices. WiSA Certified™ components from any member brand can be combined to dramatically increase the enjoyment of movies and video, music, sports, gaming/esports, and more. WiSA also combines robust, high definition, multi-channel, low latency surround sound with the simple setup of a soundbar. For more information about WiSA, please visit: www.wisaassociation.org.
© 2021 Summit Wireless Technologies, Inc. All rights reserved. Summit Wireless Technologies and the Summit Wireless logo are trademarks of Summit Wireless Technologies, Inc. The WiSA logo, WiSA, WiSA Ready, and WiSA Certified are trademarks, or certification marks of WiSA LLC.
Safe Harbor Statement
This press release contains forward-looking statements, which are not historical facts, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. As a result, readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of risks and uncertainties impacting Summit Wireless’ business including, current macroeconomic uncertainties associated with the COVID-19 pandemic, our ability to predict the timing of design wins entering production and the potential future revenue associated with our design wins; our rate of growth; our ability to predict customer demand for our existing and future products and to secure adequate manufacturing capacity; consumer demand conditions affecting our customer’s end markets; our ability to hire, retain and motivate employees; the effects of competition, including price competition; technological, regulatory and legal developments; developments in the economy and financial markets and other risks detailed from time to time in Summit Wireless’ filings with the Securities and Exchange Commission.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210312005107/en/
Kirsten Chapman, LHA Investor Relations, 415.433.3777, summit@lhai.com
WiSA Ready™ 4K UHD Smart Projector from LG Electronics Now Available in United States
March 12 2021 - 06:00AM
Business Wire
First-ever WiSA Ready laser projector takes wireless home cinema experience to the next level
WiSA® LLC, founded by Summit Wireless Technologies (NASDAQ: WISA), today announced that Association member LG Electronics’ AU810PB 4K UHD Smart Dual Laser CineBeam Projector, notably the first WiSA Ready™ projector to be introduced to the market, is now available to custom installers and consumers for $3,999 US MSRP via authorized LG dealers.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210312005027/en/
(Photo: Business Wire)
(Photo: Business Wire)
Being the first of its kind with WiSA Ready capabilities, LG’s CineBeam model can easily connect to WiSA USB Transmitters, allowing seamless wireless audio and control communication with all WiSA Certified™speakers. In addition to its wireless audio capabilities, the projector boasts a wide range of projection size flexibility, offering a compact 40-inch projection size all the way to a 300-inch projection. These options allow any user to easily watch a small screen picture in a bedroom or experience larger theater viewing.
“As the latest innovation in LG's popular high-resolution projector lineup, this CineBeam model offers features and technologies that make it the perfect choice for movie lovers who are entertaining at home, said Tim Alessi, LG USA’s senior director of home entertainment product marketing. “Thanks to its large screen and WiSA Ready capabilities, the LG CineBeam AU810PB delivers immersive video and audio experiences to consumers in the comfort of their own homes including access to many of the most popular streaming sites through LG’s webOS platform.”
“It’s exciting to see LG continue to create ground-breaking products that are transforming the home entertainment experience and the CineBeam 4K UHD projector (model AU810PB) is a hallmark example,” said Tony Ostrom, President of WiSA. “We are thrilled the first-ever WiSA Ready projector is now available to complete and perfect a true movie-going experience in the home when coupled with WiSA Certified speakers from brands like Klipsch, Bang & Olufsen, Harman, System Audio and many others. It’s an exciting time for the consumer electronics industry and we are grateful to work with members like LG who prioritize continued innovation.”
For more information on the Association and its WiSA Ready and WiSA Certified products, visit www.wisaassociation.org.
About WiSA, LLC
WiSA®, the Wireless Speaker and Audio Association, is a consumer electronics consortium dedicated to creating interoperability standards utilized by leading brands and manufacturers to deliver immersive sound via intelligent devices. WiSA Certified™ components from any member brand can be combined to dramatically increase the enjoyment of movies and video, music, sports, gaming/esports, and more. WiSA also ensures robust, high definition, multi-channel, low latency audio while eliminating the complicated set-up of traditional audio systems. For more information about WiSA, please visit: www.wisaassociation.org.
About Summit Wireless Technologies, Inc.
Summit Wireless Technologies, Inc. (NASDAQ: WISA) is a leading provider of immersive, wireless sound technology for intelligent devices and next generation home entertainment systems. Working with leading CE brands and manufacturers such as Harman International, a division of Samsung, LG Electronics, Klipsch, Bang & Olufsen, Xbox, a subsidiary of Microsoft, and others, Summit Wireless delivers seamless, dynamic audio experiences for high-definition content, including movies and video, music, sports, gaming/esports, and more. Summit Wireless is a founding member of WiSA, the Wireless Speaker and Audio Association and works in joint partnership to champion the most reliable interoperability standards across the audio industry. Summit Wireless, formerly named Summit Semiconductor, Inc., is headquartered in San Jose, CA with sales teams in Taiwan, China, Japan, and Korea. For more information about Summit Wireless Technologies, Inc., please visit: www.summitwireless.com.
* WiSA Ready TVs, gaming PCs and console systems are “ready” to transmit audio to WiSA Certified speakers when a WiSA USB Transmitter is plugged in and a user interface is activated through an APP or product design like LG TVs.
© 2020 Summit Wireless Technologies, Inc. All rights reserved. Summit Wireless Technologies and the Summit Wireless logo are trademarks of Summit Wireless Technologies, Inc. The WiSA logo, WiSA®, WiSA Ready™, and WiSA Certified™ are trademarks and certification marks of WiSA, LLC. Third-party trade names, trademarks and product names are the intellectual property of their respective owners.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210312005027/en/
Sarah Cox, Dittoe PR for WiSA, 765.546.1036, sarah@dittoepr.com
Keith Washo, WiSA Association, 984.349.272, kwasho@wisaassociation.org
Platin Audio Debuts Sleek and Powerful New Product Line for Home Cinema Sound
March 11 2021 - 07:00AM
Business Wire
Worldwide WiSA organization welcomes another new Smart Surround Sound System utilizing the WiSA SoundSend Wireless Audio Transmitter
Following the 2020-21 success of the Platin Monaco 5.1 wireless surround sound system, Platin Audio is announcing an additional home cinema product line – The Platin Milan 5.1.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210311005115/en/
Platin Milan 5.1 (Photo: Business Wire)
Platin Milan 5.1 (Photo: Business Wire)
Platin Milan 5.1 combines fashion, function and affordability together into a totally immersive, 360-degree sensory experience. Featuring WiSA Certified™, compact and unobtrusive satellite speakers with a versatile wrap-around acoustic grill cloth, Milan easily blends into any comfortable living space.
Delivered in a single box, the new Milan surround sound system includes a low-profile and powerful subwoofer that is tied together with the other five Milan speakers over a lossless multi-channel network, utilizing the award-winning WiSA SoundSend audio transmitter. With SoundSend, both Milan and Monaco provide pure 24-bit uncompressed audio for a completely wireless entertainment soundscape. Compatible with all Smart TVs with an HDMI arc or eArc port, SoundSend is capable of recognizing newly added speakers, and Dolby Atmos for overhead sounds and effects, either virtually, or physically with overhead speakers, making it possible to upgrade with ease.
“We are excited to see this great system become available and deliver immersive audio performances at a great price point,” said Tony Ostrom, WiSA President. “A key goal at WiSA is to promote amazing home cinema experiences and help facilitate their availability across large spectrums of styles, prices, and performance levels, thus enabling adoption and enjoyment by a massive number of enthusiasts.”
“With three awards so far this year, the WiSA SoundSend audio transmitter, right along with WiSA Ready™ TVs and other WiSA Certified™ speakers and components, continues to raise the bar for simplified set-up and control of high performance home cinema systems,” said Ostrom.
Like Platin Monaco, Platin Milan utilizes the SoundSend mobile application for easy access and control of features like the MyZone, which allows users to create a “sweet spot” for ideal listening.
Platin Milan is available on Amazon today, and directly from Platinaudio.us in April, 2021. Platinaudio.us also includes additional individual speaker components for system upgrades.
About WiSA, LLC
WiSA®, the Wireless Speaker and Audio Association, is a consumer electronics consortium dedicated to creating interoperability standards utilized by leading brands and manufacturers to deliver immersive sound via intelligent devices. WiSA Certified™ components from any member brand can be combined to dramatically increase the enjoyment of movies and video, music, sports, gaming/esports, and more. WiSA also ensures robust, high definition, multi-channel, low latency audio while eliminating the complicated set-up of traditional audio systems. For more information about WiSA, please visit: www.wisaassociation.org.
About Summit Wireless Technologies, Inc.
Summit Wireless Technologies, Inc. (NASDAQ: WISA) is a leading provider of immersive, wireless sound technology for intelligent devices and next generation home entertainment systems. Working with leading CE brands and manufacturers such as Harman International, a division of Samsung, LG Electronics, Klipsch, Bang & Olufsen, Xbox, a subsidiary of Microsoft, and others, Summit Wireless delivers seamless, dynamic audio experiences for high-definition content, including movies and video, music, sports, gaming/esports, and more. Summit Wireless is a founding member of WiSA, the Wireless Speaker and Audio Association and works in joint partnership to champion the most reliable interoperability standards across the audio industry. Summit Wireless, formerly named Summit Semiconductor, Inc., is headquartered in San Jose, CA with sales teams in Taiwan, China, Japan, and Korea. For more information about Summit Wireless Technologies, Inc., please visit: www.summitwireless.com.
* WiSA Ready TVs, gaming PCs and console systems are “ready” to transmit audio to WiSA Certified speakers when a WiSA USB Transmitter is plugged in and a user interface is activated through an APP or product design like LG TVs.
© 2020 Summit Wireless Technologies, Inc. All rights reserved. Summit Wireless Technologies and the Summit Wireless logo are trademarks of Summit Wireless Technologies, Inc. The WiSA logo, WiSA®, WiSA Ready™, and WiSA Certified™ are trademarks and certification marks of WiSA, LLC. Third-party trade names, trademarks and product names are the intellectual property of their respective owners.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210311005115/en/
Sarah Cox, Dittoe PR for WiSA, 765.546.1036, sarah@dittoepr.com
Keith Washo, WiSA Association, 984.349.272, kwasho@wisaassociation.org
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