WiSA Technologies (WISA) Shares Surge on Strong Q3 Revenue and Growing WiSA E Adoption
WiSA Technologies, Inc. (WISA) is making waves in the market today, with its shares trading significantly higher. The company’s impressive preliminary third-quarter revenue, projected to be between $1.0 million and $1.2 million (significantly exceeding the consensus estimate of $0.65 million), is driving the positive sentiment. This strong performance is fueled by the increasing adoption of WiSA’s multichannel wireless audio technology, particularly its new WiSA E platform.
The company’s CEO, Brett Moyer, highlighted the remarkable growth trajectory of WiSA E, stating that it is expected to deliver over 200% sequential revenue growth in Q3 2024. This surge is attributed to the technology’s successful integration into production with a multinational licensee, both for WiSA HT and WiSA E IP.
One of the key drivers of WiSA’s success is its commitment to expanding its ecosystem. The company has already secured five WiSA E licensing agreements and aims to reach eight by the end of 2024. This strategic approach has positioned WiSA to capitalize on the burgeoning market for premium audio experiences, with a focus on delivering a seamless, connected experience across various devices.
WiSA E’s success is further evident in the integration of its software into source devices and modules within speakers by one of its five current licensees. This integration not only triggers royalty payments for WiSA but also generates revenue from sales of WiSA E-enabled receiver modules utilizing Realtek Wi-Fi chips.
The company is particularly optimistic about the future, with continued shipments to this customer anticipated and additional deployments expected in 2025. Moreover, WiSA has successfully secured licenses for a significant portion of Android-based HDTVs, solidifying its position as a leading innovator in the wireless audio space.
WiSA’s focus on building a robust ecosystem through partnerships with top-tier licensing partners is strategically positioning the company to enter multiple end markets. This ambitious strategy aims to drive the adoption of premium audio experiences, enhancing how users enjoy sound across their devices.
Today’s positive news regarding WiSA Technologies, Inc. reinforces its commitment to delivering innovative and cutting-edge wireless audio solutions that are transforming the industry. As WiSA E continues its rapid growth, the company’s future looks exceptionally bright, making it a stock worth watching closely.