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WiSA Technologies has become Datavault AI Inc., a Nasdaq-listed technology company organized around data science and acoustic science products for asset visualization, valuation and monetization. Its news centers on the completed corporate rebranding, the move from the WISA ticker to DVLT, and commercialization of Datavault, ADIO and WiSA technologies.
Company updates also cover the Information Data Exchange® platform, Digital Twins, name, image and likeness licensing, blockchain-linked metadata, ADIO® tones, DVHolo™ holographic displays and WiSA E Express wireless audio software. Recurring announcements include licensing agreements, customer and event collaborations, public-safety and sports-related uses, and integration of acoustic and Web 3.0 data technologies across commercial markets.
WiSA LLC, founded by Summit Wireless Technologies (NASDAQ: WISA), announced the WiSA Ready certification of LG’s 2021 OLED and NanoCell TVs. This extension allows seamless audio integration with WiSA Certified speakers. LG leads the industry in integrating WiSA technology, ensuring high-fidelity sound and low latency. The TVs require only a WiSA USB Transmitter for connection, simplifying setup. WiSA President Tony Ostrom praised LG's commitment to enhancing home entertainment. The collaboration aims to deliver a concert-like audio experience, benefiting various entertainment formats.
WiSA LLC, a subsidiary of Summit Wireless Technologies (NASDAQ: WISA), announced a collaboration with Foxconn to showcase WiSA technology at the Appliance & Electronics World Expo (AWE) in Shanghai from March 23-25. The demonstration will feature the award-winning WiSA SoundSend and 5.1 WiSA Certified speaker system paired with a 120-inch 8K Sharp TV. The event aims to highlight the seamless combination of large-scale video and immersive audio. WiSA emphasizes its role in enhancing home entertainment experiences through interoperability and ease of use.
WiSA LLC, a subsidiary of Summit Wireless Technologies (NASDAQ: WISA), has partnered with Hisense to certify its 2021 TV models as WiSA Ready. This certification enables seamless connectivity to WiSA USB transmitters and Certified Speakers, enhancing home cinema experiences. Hisense is recognized as the fifth leading and fastest-growing TV brand in the U.S. This collaboration emphasizes WiSA's role in advancing wireless audio standards, supporting a new era of immersive entertainment.
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.