1 month ago
Q4 2020 Revenue Increased 141% Year-over-Year to a Record $1.0 Million; Operational Execution Drives Gross Margin Improvement to 24% from 17% in Q3 2020
SAN JOSE, Calif.–(BUSINESS WIRE)–Summit Wireless Technologies, Inc. (NASDAQ: WISA), a leading provider of immersive, wireless sound technology for intelligent devices and next-generation home entertainment systems, provided an update for the fourth quarter ended December 31, 2020.
Q4 2020 Financial Highlights:
Revenue increased 141% to over $1.0 million, compared to $430,000 in the fourth quarter of 2019.
Gross margin expanded to 24%, compared to 17% in the third quarter of 2020.
Cash and cash equivalents of $7.4 million at December 31, 2020, compared to $298,000 at December 31, 2019.
Q1 2021 Financial Guidance:
Gross margin expected to be in mid-20s range.
1 month ago
SAN JOSE, Calif.–(BUSINESS WIRE)–WiSA® LLC, founded by Summit
Wireless Technologies (NASDAQ: WISA), today announced that Association member LG Electronics’ AU810PB 4K UHD Smart Dual Laser CineBeam Projector, notably the first WiSA Ready™ projector to be introduced to the market, is now available to custom installers and consumers for $3,999 US MSRP via authorized LG dealers.
Being the first of its kind with WiSA Ready capabilities, LG’s CineBeam model can easily connect to WiSA USB Transmitters, allowing seamless wireless audio and control communication with all WiSA Certified™speakers. In addition to its wireless audio capabilities, the projector boasts a wide range of projection size flexibility, offering a compact 40-inch projection size all the way to a 300-inch projection. These options allow any user to easily watch a small screen picture in a bedroom or experience larger theater viewing.
Summit Wireless Technologies, Inc. (NASDAQ: WISA), a leading provider of immersive, wireless sound technology for intelligent devices and next-generation home entertainment systems, provided an update for the fourth quarter ended December 31, 2020.
1 month ago
utilizing the WiSA SoundSend Wireless Audio Transmitter
SAN JOSE, Calif.–(BUSINESS WIRE)–Following the 2020-21 success of the Platin Monaco 5.1 wireless surround sound system, Platin Audio is announcing an additional home cinema product line – The Platin Milan 5.1.
Platin Milan 5.1 combines fashion, function and affordability together into a totally immersive, 360-degree sensory experience. Featuring WiSA Certified™, compact and unobtrusive satellite speakers with a versatile wrap-around acoustic grill cloth, Milan easily blends into any comfortable living space.
Delivered in a single box, the new Milan surround sound system includes a low-profile and powerful subwoofer that is tied together with the other five Milan speakers over a lossless multi-channel network, utilizing the award-winning WiSA SoundSend audio transmitter. With SoundSend, both Milan and Monaco provide pure 24-bit uncompressed audio for a completely wireless en