4-channel RX output and software sample rate
converter provide tangible benefits for manufacturers;
WiSA provides operational and financial
update
WiSA Technologies, Inc. (NASDAQ: WISA), a leading innovator in
wireless audio technology for intelligent devices and
next-generation home entertainment systems, announces the addition
of two features to its WiSA E wireless immersive audio software
stack. Both new features target reducing the overall integration
costs for manufacturers while adding new functionality.
"As powerful as WiSA E software already is, we continue to look
for new ways to add functionality and reduce overall integrations
costs,” said Tony Parker, vice president of technical marketing and
strategy. “These two new feature enhancements make it much easier
for our customers to do more with less – which not only can add
functionality to systems but can also save both money and time to
market.”
The two new enhancements added to WiSA E are:
- Receiver (RX) with 4 channels output capability enabling:
- Fewer speaker cabinets required for ATMOS, DTS:X, IAMF codecs
supported by Dolby, DTS, and Google respectively
- Ability to connect a TV wirelessly to a three-channel soundbar
with a subwoofer (LFE)
- A rear power bar or speaker that can support up-firing, left
surround, right surround, and forward firing speakers
- Software sample rate converter (SRC), which, when required,
reduces integration costs by between $4 - $6 by simplifying overall
system design
- SRC auto detects audio sample rates and coverts them to
48k/24bit
- Capable of converting CD quality audio 44.1k 16bit or
24bit
- Capable of detecting and decimating higher data rates such as
96k/24bit
Full Year 2023 Financial Update
The Company also reported preliminary, unaudited revenue and net
loss for the full year ended December 31, 2023 and updated guidance
on signing licensing agreements for its WiSA E software.
Total revenue for the full year 2023 is expected to be in the
range of $1.9 million to $2.1 million. The net loss for the full
year 2023 is expected to be in the range of $17.7 million to $19.7
million as compared to a net loss of $16.2 million for the year
2022.
The company has signed 3 licensing agreements with TV/PTV
companies and expects that an additional 3 license agreements will
be signed by the end of Q2’24. The company expects some of the
licensees to start production in Q3’24, and it expects to begin
recognizing revenue from these agreements shortly thereafter in
2024.
These preliminary results are based on management’s initial
analysis of operations for the year ended December 31, 2023. The
Company expects to issue full financial results for the full year
2023 on or about April 1, 2024.
For more information about WiSA E or about these two new
additions to WiSA E’s feature set, contact Tony Parker, vice
president of technical marketing and strategy at
tparker@wisatechnologies.com.
About WiSA Technologies, Inc.
WiSA 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; Hisense; TCL; Bang & Olufsen; Platin Audio; and
others, the company delivers immersive wireless sound experiences
for high-definition content, including movies and video, music,
sports, gaming/esports, and more. WiSA Technologies, Inc. is a
founding member of WiSA™ (the Wireless Speaker and Audio
Association) whose mission is to define wireless audio
interoperability standards as well as work with leading consumer
electronics companies, technology providers, retailers, and
ecosystem partners to evangelize and market spatial audio
technologies driven by WiSA Technologies, Inc. The company is
headquartered in Beaverton, OR with sales teams in Taiwan, China,
Japan, Korea, and California.
© 2024 WiSA Technologies, Inc. All rights reserved. WiSA
Technologies, Inc. and the WiSA Technologies, Inc. logo are
trademarks of WiSA 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. In some cases, you can
identify these 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, including statements
herein regarding our business opportunities and prospects, as well
as our licensing initiatives and expectations, are necessarily
based upon estimates and assumptions that, while considered
reasonable by us and our management, are inherently uncertain.
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 regarding, among other items: the
degree to which the licensee implements the licensed technology
into its products, if at all; the timeline to any such
implementation; our current liquidity position and the need to
obtain additional financing to support ongoing operations; general
market, economic and other conditions; our ability to continue as a
going concern; our ability to maintain the listing of our common
stock on Nasdaq; our ability to manage costs and execute on our
operational and budget plans; our ability to achieve our financial
goals; and other risks as more fully described in our filings with
the U.S. Securities and Exchange Commission. The Company’s
independent registered accounting firm has not audited, reviewed,
compiled or applied agreed-upon procedures with respect to the
preliminary financial results. Accordingly, the Company’s
independent registered accounting firm does not express an opinion
or any other form of assurance with respect thereto. The
information in this press release is provided only as of the date
of this press release, and we undertake no obligation to update any
forward-looking statements contained in this press release based on
new information, future events, or otherwise, except as required by
law.
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version on businesswire.com: https://www.businesswire.com/news/home/20240325377225/en/
Tony Parker, vice president of technical marketing and strategy
tparker@wisatechnologies.com
WiSA Technologies (NASDAQ:WISA)
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