Q1 2024 WiSA Technologies Inc Earnings Call Transcript
Key Points
- WiSA Technologies Inc (WISA) has signed five licensing agreements for its WiSA E technology within the first six months of its launch, indicating strong initial market acceptance.
- The company has a robust portfolio of patents in the wireless multi-channel, high-resolution audio space, which provides a competitive edge.
- WiSA E technology is versatile and can be implemented across various devices such as TVs, set-top boxes, phones, and tablets, making it highly adaptable.
- The company has a well-established customer base from its 11 years of selling high-performance wireless multi-channel audio, which supports the launch of WiSA E.
- WiSA Technologies Inc (WISA) has secured $8 million in financing, which will ensure the proper launch and rollout of WiSA E and strengthen its Nasdaq listing compliance.
- Revenue from the new WiSA E licenses is expected to start in the second half of 2024, which means there is a delay before the financial benefits are realized.
- The company has faced challenges in maintaining its Nasdaq listing, requiring strategic financial maneuvers to comply with listing requirements.
- There is uncertainty around the exact timing of mass production and revenue generation from the new licenses, as production dates can shift by a month or two.
- The company has a high monthly operating expense of around $900,000, which could strain financial resources if revenue targets are not met.
- The need for shareholder approval on various proposals, including reducing the quorum threshold, indicates potential governance and operational challenges.
Good day, and welcome to the WiSA Technologies' first-quarter 2024 results conference call. (Operator Instructions)
This event is being recorded. I would now like to turn the conference over to Mr. David Barnard. Please go ahead, sir.
Greetings, and welcome to WiSA Technologies' conference call to review its first-quarter 2024 results and provide a business update.
(Event Instructions)
As a reminder, the conference is being recorded. With us today is Brett Moyer, CEO and President.
Before turning the call over to Brett, I'd like to remind everyone that today's conference call will include forward-looking speakers, which are subject to various risks and uncertainties that could cause our actual results to differ materially from these statements. Any such forward-looking statements should be considered in conjunction with the cautionary statements in our earnings release and risk factors discussed in our filings with the SEC. WiSA assumes no obligation to update any of these forward
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
