Summit Wireless Technologies, Inc. Provides Q318 Update

Summit Wireless Technologies, Inc. (NASDAQ: WISA), a leading provider of immersive, wireless sound technology for intelligent devices and next-generation home entertainment systems, reported results for the third quarter ended September 30, 2018. Management will hold a call to provide a business update including its third quarter accomplishments at 8:00 a.m. PST on November 20^th.

“Our technology makes high quality immersive, wireless sound easier for top consumer electronics brands to build into their designs, and for consumers to enjoy an affordable experience,” said Summit Wireless President and CEO Brett Moyer. “Since our IPO in July, we have focused on supporting upcoming customer product launches and driving 2019 revenue growth.”

“WiSA’s global interoperability standard has expanded its reach with six new members, including Eastech, Foxconn Technology Group, Innovo Audio Designs, Sound United and System Audio, continuing WiSA’s standardization for consumer electronic products. We expect customer product launches to drive significant revenue growth in 2019,” concluded Moyer.

Recent Highlights

• Partnered with HARMAN Lifestyle Audio to deliver superior audio experiences for the innovative Harman Kardan Citation Series, a new line of sophisticated, wireless smart speakers featuring sleek industrial design and immersive audio.
• Welcomed new WiSA members: Eastech, Foxconn Technology Group, Innovo Audio Designs, Sound United and System Audio.
• Announced first WiSA USB Transmitters from Axiim and Summit Wireless to work with WiSA Ready TVs and other sources.
• Announced first WiSA Ready certifications: WiSA USB Transmitters from Axiim and Summit Wireless.
• Completed our IPO, raising $10.3 million in net proceeds to support the adoption of the company’s unique wireless technology.
• Changed company name to Summit Wireless Technologies, Inc. reflecting our expanding technology roadmap.
• Announced Scott Taylor named as Vice President of WiSA Marketing to support the association’s rapidly expanding ecosystem as it moves into the retail marketplace.

Summit Wireless’ quarterly report on Form 10-Q for the third quarter of 2018 is available at https://ir.summitwireless.com and at www.sec.gov.