BEAVERTON, Ore. - WiSA Association, a subsidiary of WiSA Technologies, Inc. (NASDAQ: WISA), has announced the signing of a new licensing agreement with a major HDTV/PTV brand. This deal marks the fourth major partnership in the company's portfolio, allowing the integration of WiSA E software into the brand's products. The agreement spans five years and aims to enhance consumer access to wireless immersive audio options.
WiSA E technology is designed to offer a suite of audio features across a range of devices, including HDTVs, PTVs, soundbars, mobile devices, set-top boxes, and speakers, ensuring full interoperability with WiSA E-enabled speakers from various brands. The software can be implemented across four HDTV SoC providers, namely Realtek, Amlogic, Mediatek, and Novatek, promoting widespread adoption and compatibility.
Tony Ostrom, president of the WiSA Association, expressed satisfaction with the new partnership, noting that the market is acknowledging the value of WiSA E technology and the company's licensing model. He emphasized the increasing demand for high-quality wireless audio solutions and the role of WiSA E in pioneering a new era of audio technology for immersive experiences.
WiSA Technologies, Inc. is recognized as a leading provider of wireless sound technology for intelligent devices and next-generation home entertainment systems. It collaborates with notable consumer electronics brands and manufacturers, including Harman International, LG, Hisense, TCL, Bang & Olufsen, and Platin Audio.
The company's mission, as a founding member of the Wireless Speaker and Audio Association, is to establish standards for wireless audio interoperability and promote spatial audio in the home through collaboration with industry players.
This announcement is based on a press release statement.
InvestingPro Insights
In light of WiSA Technologies, Inc.'s recent licensing agreement, a look at the company's financial health and market performance can provide additional context for investors. According to InvestingPro data, WiSA Technologies currently holds a market capitalization of 3.08 million USD, which is reflective of the company's size in the competitive tech market. The revenue for the last twelve months as of Q4 2023 stood at 2.08 million USD, indicating the scale of its operations amidst the challenges of the industry.
Despite the potential for sales growth in the current year as noted by analysts, WiSA Technologies has experienced significant revenue decline, with a -38.1% change in the last twelve months as of Q4 2023. This trend is further emphasized by a stark quarterly revenue growth decrease of -54.15% in Q4 2023. Additionally, the company's gross profit margin was reported at -165.96%, highlighting struggles in maintaining profitability against costs.
Investors should be aware of the company's high price volatility and the fact that it has been quickly burning through cash, as pointed out by InvestingPro Tips. These factors, combined with a lack of profitability over the last twelve months and a stock price that has fared poorly over the last month, year, and decade, suggest a cautious approach. The stock is also trading near its 52-week low, which could signal a potential buying opportunity for some investors or a red flag for others, depending on their risk appetite and investment strategy.
For those looking to delve deeper into WiSA Technologies' financials and market performance, InvestingPro offers a comprehensive set of additional tips. There are currently 15 more InvestingPro Tips available for WiSA Technologies, which can be accessed by visiting InvestingPro's dedicated page for the company. Interested investors can benefit from an exclusive offer using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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