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Datavault AI Inc. (NASDAQ:DVLT), a semiconductor and related devices manufacturer with a market capitalization of $46.67 million, disclosed preliminary financial results for the fiscal year ended December 31, 2024, today. The company reported a significant increase in revenue and gross profit compared to the previous fiscal year, though InvestingPro data indicates persistent challenges with gross profit margins.
Revenues for the fiscal year 2024 are estimated to be approximately $2,674,000, marking a 28.4% increase from the $2,083,000 reported in fiscal 2023, aligning with InvestingPro’s forecast of 18% revenue growth. Gross profit is expected to be around $376,000, a substantial improvement from a gross deficit of $3,457,000 in the preceding year. According to InvestingPro analysis, which offers 14+ additional insights about DVLT’s financial health, the company continues to face profitability challenges.
Despite the growth in revenue and gross profit, Datavault AI’s preliminary estimated operating expenses have risen to approximately $21,514,000 from $18,000,000 in fiscal 2023. The company also anticipates a significant change in the fair value of warrant liability, estimating a loss of about $29,120,000 for fiscal 2024, compared to a gain of $4,510,000 in the previous year. InvestingPro analysis shows the company is quickly burning through cash, with negative free cash flow yield in the last twelve months.
The preliminary net loss for the year is projected to be roughly $51,409,000, a considerable increase from the net loss of $18,721,000 for fiscal 2023. Similarly, the net loss attributable to common stockholders is expected to be approximately $67,726,000 for fiscal 2024, up from a net loss of $25,081,000 for the prior year.
In terms of assets and liabilities, Datavault AI expects total assets as of December 31, 2024, to be around $100,625,000, compared to $4,823,000 as of December 31, 2023. Total (EPA:TTEF) liabilities are also expected to increase to approximately $14,899,000 from $9,733,000 over the same period. Notably, InvestingPro data shows a healthy current ratio of 2.26, indicating strong short-term liquidity position. The company’s stock has shown counter-market movement tendencies with a beta of -0.56. The company anticipates a stockholders’ equity of roughly $85,726,000 as of December 31, 2024, which is a notable turnaround from a stockholders’ deficit of $5,157,000 at the end of fiscal 2023.
The company’s financial estimates are subject to adjustments following the completion of the audit of consolidated financial statements for fiscal 2024. These preliminary results are based on management’s estimates and have not been reviewed by the company’s independent registered public accounting firm.
This report is based on a press release statement and contains forward-looking statements that are subject to risks and uncertainties. Datavault AI has cautioned that actual results may differ materially from those projected or estimated due to various factors, including the finalization of financial statements and audit completion. The company does not undertake any obligation to update these forward-looking statements except as required by law.
In other recent news, Datavault AI, formerly known as WiSA Technologies, completed a registered direct offering, raising approximately $5.4 million through the sale of common stock and warrants. This funding initiative, facilitated by Maxim Group LLC as the placement agent, is part of the company’s strategic financial moves. Concurrently, WiSA Technologies has amended its asset purchase agreement with CompuSystems, Inc. (CSI), introducing a revised breakup fee and extending the deadline for securing stockholder approval. The company has also filed financial statements related to its acquisition of CSI, providing detailed insights into the financial health of the acquired business. Additionally, WiSA Technologies debuted new wireless audio technology at CES 2025, showcasing innovations designed to enhance the wireless home theater experience. These recent developments reflect WiSA Technologies’ ongoing efforts to evolve its business and product offerings.
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