Wisa Tech Stock Price, News & Analysis

Summit Wireless Technologies, Inc. (NASDAQ: WISA) has announced its participation in the H.C. Wainwright 23rd Annual Global Investment Conference. CEO Brett Moyer will present live on September 13 at 7:00 am ET and will hold meetings on September 13-14. Presentation materials will be available on the company’s Investor Relations website. Summit Wireless specializes in immersive, wireless sound technology for advanced home entertainment systems, collaborating with renowned brands like Harman and LG Electronics.

Summit Wireless Technologies (NASDAQ: WISA) has partnered with Hansong, a renowned ODM, to launch a new technology reference platform for wireless soundbars, audio hubs, and speakers. Named Discovery, this low-cost module leverages Summit's advanced Wi-Fi software for fixed low latency audio transmission, supporting up to four synchronized audio channels—ideal for entry-level home cinema systems. Hansong aims to enhance consumer audio experiences and expand market access through this collaboration.

Summit Wireless Technologies (NASDAQ: WISA) announced that LG Electronics’ QNED Mini LED TVs have been certified as WiSA Ready™, expanding LG's offerings of WiSA compatible products this year. The launch includes six new models that support seamless wireless audio connections with WiSA Certified speakers from major brands. This certification marks LG's fourth WiSA Ready product family rollout in 2021, highlighting the company’s leadership in wireless home cinema technology. LG’s integration of WiSA technology ensures high-quality audio experiences across various forms of entertainment.

Summit Wireless Technologies (NASDAQ: WISA) reported a strong Q2 2021, with revenue skyrocketing 354% to $1.6 million from $0.3 million a year prior. Gross margin improved to 29.0%, while net loss remained stable at $3.4 million. The company anticipates full-year revenue between $6.5 million and $7.0 million, representing over 180% growth compared to 2020. Cash reserves increased to $10.3 million. CEO Brett Moyer highlighted success in WiSA technology adoption, bolstered by strategic partnerships and a new Amazon storefront. Positive momentum is expected to continue into the holiday season.

Summit Wireless Technologies, Inc. (NASDAQ: WISA) will hold a management call on August 10, 2021, at 8:30 a.m. PT / 11:30 a.m. ET to discuss second quarter results and provide a business update. Interested participants can listen live by calling 877-423-9813 or 201-689-8573 with the code 13721706. A live webcast and presentation 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, partnering with major CE brands to enhance home entertainment experiences.

Summit Wireless Technologies (Nasdaq: WISA) has announced a registered direct offering of 2,500,000 shares of common stock at $4.00 per share, totaling approximately $10 million in gross proceeds. The offering, facilitated by Maxim Group LLC as the sole placement agent, is set to close on or around July 27, 2021, pending customary conditions. Shares are being offered under an effective Form S-3 registration with the SEC. This move aims to bolster the company’s capital for growth in immersive wireless sound technology for home entertainment.

WiSA LLC, associated with Summit Wireless Technologies (NASDAQ: WISA), has launched a custom Amazon Storefront, enhancing the shopping experience for WiSA Certified™ products. The initiative is part of the WiSA Wave Marketing Program, aiming to draw 2 million website visitors this year. The storefront features WiSA Ready™ TVs, WiSA Certified™ transmitters, speakers, and promotional bundles, streamlining the purchasing process for consumers. This move supports the growing global demand for wireless home entertainment solutions, offering easier access to high-performance audio systems.

WiSA LLC, a subsidiary of Summit Wireless Technologies (NASDAQ: WISA), has launched the WiSA SoundSend Certified program to ensure seamless interoperability between TVs and the WiSA SoundSend wireless audio transmitter. Toshiba's REGZA is the first TV brand to receive this certification. This initiative aims to enhance wireless audio experiences for home entertainment systems, allowing quick installation and compatibility with a significant range of smart TVs. With a projected reach to over 1 billion TVs, the SoundSend supports advanced audio formats like Dolby Atmos, furthering WiSA's role in the consumer electronics sector.

WiSA LLC, a subsidiary of Summit Wireless Technologies (NASDAQ: WISA), has upgraded its 2021 web visitor projections from 1 million to 2 million, propelled by the WiSA Wave marketing initiative. In the first half of 2021, web traffic surged over 1000% to nearly 900,000 visitors. The association anticipates 300,000 visitors in Q3 and 850,000 in Q4, attributing the growth to increased consumer engagement and product offerings. WiSA Wave is enhancing marketing for members, resulting in spikes in sales as of July 2021.