WiSA Technologies Focuses on Achieving Operational and Licensing Milestones

WiSA Technologies, a leading developer of spatial, wireless sound technology, has provided a business update highlighting its focus on achieving key operational and licensing milestones. The company aims to reduce its total SG&A expenses leading into 2024 while capitalizing on its extensive investment in intellectual property.

Brett Moyer, the CEO, President, and Chairman of WiSA Technologies, expressed confidence in the company’s position to leverage its WiSA E platform and drive wireless interoperability between HDTVs, soundbars, and speakers. The WiSA E development kits have already started shipping to strategic customers, and the licensing plan for WiSA E software has been rolled out. This strategic move is expected to eliminate cost redundancy and establish WiSA Technologies as a dominant player in the link between TV and external audio.

To navigate the challenging industry and capital markets environment, WiSA Technologies has initiated expense reductions in SG&A while retaining ongoing investments in research and development. The impact of this re-alignment will begin in Q4 2023 and is projected to result in significant cash savings of approximately $4 million in 2024 compared to 2023.

Moyer emphasized the company’s commitment to achieving strategic milestones that will provide visibility into multiple customers and revenue streams in 2024. WiSA Technologies aims to demonstrate the efficacy of its WiSA E platform at CES 2024 and is confident that its product and strategic refocus, combined with targeted expense reductions, will position the company for an exceptionally productive CES 2025.

WiSA Technologies, headquartered in Beaverton, OR, develops, markets, and sells spatial audio wireless technology for smart devices and next-generation home entertainment systems. The company collaborates with leading consumer electronics companies, technology providers, retailers, and industry partners through its consortium, the WiSA Association, to make spatial audio an accessible and enjoyable experience for all.

For more information about WiSA Technologies, please visit: www.wisatechnologies.com.