EQS-News: WiSA Technologies
The second quarter of 2022 may have been good for WiSA Technologies Inc. (NASDAQ: WISA). Revenue for the developer of spatial, wireless sound technology for smart devices and next-generation home entertainment systems increased by 67% from the first quarter of 2021.
The company also reported revenue growth from $600,000 in the first quarter of this year to $900,000 in the second quarter, and the company expects this growth to continue even into the first quarter of next year, according to CEO Brett Moyer.
“As anticipated, Q2 2022 revenue rebounded 67% from Q1 2022, and we expect an additional sequential revenue boost in Q3 2022,” Moyer said. “While it is difficult to predict end-market consumer spending in the all-important fall season, we expect sequential revenue growth for the remainder of 2022.”CNN Reports Positive Outlook For WiSA
WiSA is looking to tap into the home theater industry— an industry projected to grow from $22.7 billion in 2021 to $27.24 billion in 2022 with further growth to reach $54.78 billion in 2026, according to a report by ReportLinker. This growth is likely due to the booming video streaming market which experienced an exponential increase in demand due to the pandemic.
CNN Business’s analysis of WiSA stock predicts it will reach a median price of $4.50 and a high price of $5.50 in the next 12 months. The median price forecast would be an increase of over 600% through the forecast period.
The analysis also predicts that third-quarter sales will reach between $1.2 million and $1.6 million, and sales for 2023 are expected to be between $10.5 million and $15 million. While the company’s earnings per share (EPS) for the third quarter this year is forecast at negative 22 cents, analysts at CNN Business remain optimistic - the consensus among three investment analysts polled by CNN Business is to buy the stock.
WiSA attributes its revenue growth to module sales, audio systems sales, and licensing for its proprietary intellectual property (IP) and high definition television (HDTV) and other audio sources. The company's Wi-Fi-compatible modules are specifically designed for soundbars and are sold to leading speaker brands, including LG.
In the third quarter, WiSA is planning a massive market expansion by partnering with more television makers. Just recently, the company announced the certification of two of Hisense’s smart TVs - the Hisense 2022 U7H and U8H series. WiSA also expects the integration of its WiSA discrete system (DS) technology by two partner companies to roll out in the fourth quarter of this year.WiSA’s Patents and Technologies
WiSA boasts strong intellectual property in wireless multichannel audio. By the end of the second quarter, the company reported having a total of 25 issued patents, pending patent applications or patent filings.
The company prides itself on having a number of technologies in its portfolio, including WiSA DS and WiSA HT technologies. WiSA says its DS technology features the Discovery transceiver, which delivers uncompressed 16-bit 48 kilohertz (kHz) - this definitely exceeds the sound quality offered by compact discs (CDs).
WiSA DS technology seems to be performing strongly in independent testing and evaluation. The technology, which is specifically designed for soundbars, outperformed leading 5 GHz modules in an independent test performed by Novus Labs. Currently, 12 companies have 15 WiSA DS projects under consideration, with two planned to go into production in the fourth quarter.
WiSA HT technology is eight channels of high-definition audio capable of transmitting and receiving uncompressed 24-bit 48/96 kHz sound over its dedicated wireless network. Its core applications include high-performance, multichannel home-cinema systems, speakers and speaker systems, and universal wireless audio transmitters using a high-definition multimedia interface (HDMI) or HDMI-enhanced audio return channel (eARC).
Through its subsidiary WiSA LLC, WiSA also provides a wireless audio transmitter called The WiSA SoundSend that can seamlessly integrate with smart TVs. The SoundSend decodes Dolby Digital, Dolby Digital Plus, Dolby TrueHD, and Dolby Atmos audio formats from Dolby Laboratories Inc (NYSE: DBL) and supports up to eight channels of wireless audio.
SoundSend also transmits uncompressed 24-bit 48/96 kHz sound with a 5.2-millisecond signal latency and one microsecond of synchronization. The audio transmitter was named the 2022 Top New Technology award winner in the Wireless A/V Solutions category.Member Brands
More than 70 top manufacturers of consumer electronics have joined the WiSA Association. Many of them have launched products using WiSA’s technology including LG Electronics Inc., Hisense, TCL, Bang & Olufsen, JBL and Harman International, which are part of the tech giant Samsung Group. As a group, they have the opportunity to challenge Sonos’ (NASDAQ: SONO) strong position in the marketplace.
It gets even better. WiSA says its top-tier premium technology can address mass-market audio systems with a software roadmap to address a total market of more than 1 billion units - this is possible because the technology has been ported to more affordable low-cost internet-connected modules through the Internet of Things (IoT).
For more information about WiSA, visit its website.
WiSA Technologies (Nasdaq: WISA) develops, markets, and sells spatial audio wireless technology for smart devices and next-generation home entertainment systems. Its consortium the WiSA Association works with leading consumer electronics companies, technology providers, retailers, and industry partners to make spatial audio an experience that everyone can enjoy. The Company is headquartered in Beaverton, OR.
This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice.Contact Details
Camille Baptiste - TraDigital IR
News Source: News Direct
22.09.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS - a service of EQS Group AG.
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