A developer of spatial, wireless sound technology for smart devices and next-generation home entertainment systems, the company believes its new name - WiSA Technologies, Inc. - captures the Summit Wireless Technologies and WiSA Association under one umbrella organization that more expansively reflects its mission and its underlying brand equity.
The WiSA Association will continue its independent role to build WiSA ecosystems between consumers, retailers and WiSA Association members, while its WiSA Wave initiative, which includes a number of direct-to-consumer and online/retail programs designed to promote WiSA-enabled products and build the category of wireless spatial audio, offers one example of the synergies of the rebranding strategy. To reflect the changes, WiSA confirmed the associated launch of a new unified company website, expected to be live by March 14, 2022. In its conference call and presentation WiSA Technologies also discussed the company’s expanding technology offering and product roadmap.
"Full year 2021 revenue of $6.54 million was up 172% vs. 2020, and Q4 2021 marked our sixth consecutive quarter of revenue increases, as previously announced,” says Brett Moyer, CEO, President, and Chairman of WiSA Technologies, Inc. “We begin 2022 well-positioned in the marketplace, and our plans anticipate substantial revenue growth during the year.”
In 2022, WiSA Technologies is making significant investments in two product launches that position the company to offer best-in-class wireless audio transmission at new price points that significantly expands the addressable market. Industry analysts are projecting 42 million soundbars to be sold worldwide, and WiSA’s Espressif partnership allows the company to offer a 4-channel solution for the soundbar market at a price 65-75% lower than its current modules.
With wireless subwoofers and rear speakers, management estimates a serviceable addressable market (SAM) of more than 80 million units per year. WiSA’s Realtek partnership brings the first platform for 5GHz multichannel wireless immersive audio at 50% lower cost than the current solution, and the company’s design team in India is currently working to port this IP to TV/STB operating systems.
"We have positioned ourselves to capitalize on trends in audio consumption and expand beyond speakers and soundbars. New wireless audio market segments are emerging that our lower price points can address and that increase our TAM to over 1 billion units,” adds Moyer.
“As inventories are worked down and ordering trends recover, we expect a strong rebound in revenue in the second half of 2022 compared to the first half of 2022. In addition, new products in expanded market segments will be driving business momentum in 2022, and we expect orders to significantly accelerate during the summer and throughout the rest of the year.”
www.wisatechnologies.com
