WiSA Technologies Adds Additional Functionality to its Powerful WiSA E Immersive Audio Software

WiSA Technologies, Inc. (NASDAQ: WISA), a leading innovator in wireless audio technology for intelligent devices and next-generation home entertainment systems, announces the addition of two features to its WiSA E wireless immersive audio software stack. Both new features target reducing the overall integration costs for manufacturers while adding new functionality.

"As powerful as WiSA E software already is, we continue to look for new ways to add functionality and reduce overall integrations costs,” said Tony Parker, vice president of technical marketing and strategy. “These two new feature enhancements make it much easier for our customers to do more with less – which not only can add functionality to systems but can also save both money and time to market.”

The two new enhancements added to WiSA E are:

1. Receiver (RX) with 4 channels output capability enabling:
   • Fewer speaker cabinets required for ATMOS, DTS:X, IAMF codecs supported by Dolby, DTS, and Google respectively
   • Ability to connect a TV wirelessly to a three-channel soundbar with a subwoofer (LFE)
   • A rear power bar or speaker that can support up-firing, left surround, right surround, and forward firing speakers
2. Software sample rate converter (SRC), which, when required, reduces integration costs by between $4 - $6 by simplifying overall system design
   • SRC auto detects audio sample rates and coverts them to 48k/24bit
     • Capable of converting CD quality audio 44.1k 16bit or 24bit
     • Capable of detecting and decimating higher data rates such as 96k/24bit

Full Year 2023 Financial Update

The Company also reported preliminary, unaudited revenue and net loss for the full year ended December 31, 2023 and updated guidance on signing licensing agreements for its WiSA E software.

Total revenue for the full year 2023 is expected to be in the range of $1.9 million to $2.1 million. The net loss for the full year 2023 is expected to be in the range of $17.7 million to $19.7 million as compared to a net loss of $16.2 million for the year 2022.

The company has signed 3 licensing agreements with TV/PTV companies and expects that an additional 3 license agreements will be signed by the end of Q2’24. The company expects some of the licensees to start production in Q3’24, and it expects to begin recognizing revenue from these agreements shortly thereafter in 2024.