BEAVERTON, Ore. - WiSA Technologies, Inc. (NASDAQ: WISA), a $15.8 million market cap company known for its wireless audio technology, has announced the integration of its WiSA E wireless multichannel audio software into Sagemcom’s Video Soundbox (VSB) set-top boxes. According to InvestingPro data, while the company maintains a healthy balance sheet with more cash than debt, it faces significant challenges with negative profit margins. Since December 2024, the VSB has been available globally, offering consumers an enhanced home entertainment experience with features like Dolby Atmos audio wirelessly transported to external speakers.
The VSB, developed by Sagemcom, combines a high-quality soundbar with a set-top box, providing users with a single device that delivers advanced audio and access to digital TV and streaming services. This integration aims to reduce clutter and simplify installation while providing a cost-effective solution for upgrading home entertainment systems.
Olivier Taravel, Senior Executive VP at Sagemcom, expressed excitement about the integration, stating it offers consumers high-quality audio and wireless connectivity. Brett Moyer, CEO at WiSA Technologies, emphasized that the inclusion of WiSA E software in Sagemcom’s latest product validates the company’s strategy to provide wireless audio solutions that reduce the bill of material costs and eliminate the need for additional hardware.
For manufacturers, WiSA E software offers cost efficiency, simplified integration, and faster time-to-market with flexible and updatable software solutions. Consumers benefit from the ability to enhance their audio experience by adding rear and upfiring speakers for full Dolby Atmos support, with a seamless connection to WiSA E-enabled external speakers.
WiSA Technologies collaborates with leading consumer electronics brands and is a founding member of the WiSA Association, which promotes solutions for spatial audio in the home. Sagemcom, a company with a focus on sustainable solutions, is a leader in its markets with continuous growth since 2016. Recent InvestingPro analysis indicates WISA’s stock has shown strong returns over the past three months, despite experiencing an 88% decline over the past year. Discover 14 additional exclusive ProTips and comprehensive financial analysis with an InvestingPro subscription.
This press release includes forward-looking statements and acknowledges that actual results may differ materially due to various factors. WiSA Technologies and Sagemcom have expressed their expectations for the integration’s impact on the market and consumer experience. With revenue of $2.19 million in the last twelve months and an overall "Weak" Financial Health score according to InvestingPro, investors seeking deeper insights can access the comprehensive Pro Research Report, available exclusively to subscribers, covering all crucial aspects of WISA’s financial performance and market position.
The information provided is based on a press release statement from WiSA Technologies, Inc.
In other recent news, WiSA Technologies has announced a series of significant developments. The company reported a notable increase in Q3 revenues, reaching $1.2 million, a 240% rise from the previous year. This growth was attributed to improved gross margins and a strategic shift towards direct-to-consumer sales. WiSA Technologies also successfully reduced its inventory by 17%, ending the quarter with a robust cash position of $3.9 million.
The company has entered into a definitive agreement to acquire CompuSystems, Inc., a move aimed at integrating CSI’s expertise with Datavault’s ADIO technology. This acquisition is expected to contribute between $13 million to $15 million in revenue and $3 million to $4 million in EBITDA for the year 2025.
In other strategic decisions, WiSA Technologies extended the warrant exercise period, a move aimed at encouraging warrant holders to participate in the exercise process, potentially increasing the company’s equity base. Additionally, the company confirmed the resignation of Mr. Gary Williams, with Mr. Stanley Mbugua succeeding him as the new Chief Accounting Officer.
WiSA Technologies also announced the approval of the acquisition of intellectual property and technology assets from Data Vault Holdings Inc. Upon completion, WiSA Technologies will be rebranded as Datavault Inc., turning to a data technology and licensing firm. These are recent developments, indicating the ongoing strategic moves and managerial decisions within WiSA Technologies.
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