OUR NEW PROFILE IS: (NASDAQ: WISA)
Cash and Cash Equivalents were $5.3 million as of March 31, 2023
30+ brands have designed WiSA technologies into their products
As announced on May 15, 2023, the company expects its planned acquisition of Comhear to close in the third quarter of 2023 and be accretive in the fourth quarter of 2023. As a result, the company is guiding for full year 2024 revenue in the range of $10 million to $15 million
READ THE INVESTOR PRESENTATION HERE
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BREAKING NEWS THIS MORNING********
WiSA E Development Kits Start Shipping Worldwide; Designed to Unify the Non-Sonos Audio Market
BEAVERTON, Ore.–(BUSINESS WIRE)– WiSA Technologies, Inc. (NASDAQ: WISA), a leading provider of immersive, wireless sound technology for intelligent devices and next-generation home entertainment systems, is starting to ship WiSA E development kits to key tier 1 HDTV and audio customers in major markets, including Korea, Japan, United States and China. Using the 5GHz and 2.4GHz portion of the Wi-Fi band, WiSA E offers high-performance, high-quality wireless audio transmission and reception via its interoperable software ecosystem at an affordable price.
WiSA E is designed to unify a highly fragmented multichannel audio market currently served by proprietary, closed audio solutions such as Sonos and Roku. Consumers want high-quality, interoperable consumer electronics products that work well together and allow consumers to mix and match brands at various performance and price points. Brands are demanding a scalable, software-based solution that runs on their SoC platform of choice. WiSA E is designed to be the audio platform for the top 10 HDTV brands and the hundreds of audio speaker companies who deliver high-quality immersive audio systems to customers worldwide.
By embedding WiSA E into any TV/soundbar SoC platform and designing the software to be interoperable among the large number of speaker brands, WiSA Technologies is enabling a unified ecosystem of interoperable immersive audio products.
- The number of smart TVs sold in 2023 is forecasted to exceed 240 million units worldwide.
- The number of soundbars is forecasted to exceed over 40 million units worldwide.
“WiSA E is the result of 10 years of research and development and is the holy grail for interoperability and robustness,” said Tony Parker, vice president of business development and strategy at WiSA Technologies. “We anticipated the market would need a software-based immersive audio product with a powerful feature set at a very affordable price. We see strong demand from our customers who are all anxious to develop products powered by WiSA E.”
WiSA E Key Facts
- Embeddable, high-quality audio IP
- Able to be implemented as a plug-and-play module or as an IP/software license, enabling brands to embed WiSA E software directly into a compatible SoC TV platform.
- Software-based, Wi-Fi-compatible
- Supports 8-channels (moving to 10 channels).
- Low latency and tight speaker synchronization critical to supporting Dolby Atmos and DTS-X wirelessly.
- An ecosystem of interoperable products
- Enables HDTV/soundbar brands to transmit high-quality, multichannel audio to the large number of non-Sonos speaker brands.
- Feature-rich software development environment
- Enables seamless development/port to multiple silicon platforms.
For more information on ordering a WiSA E development kit, please contact James Cheng, vice president of sales at WiSA Technologies, at jcheng@wisatechnologies.com. For more information about WiSA Technologies, visit www.wisatechnologies.com.
Hello Everyone,
Our last 3 profiles have certainly been ones to watch. Yesteday’s profile opened at .90 after a significant gap and ran all the way to 1.11 on significant interest before closing at 1.06. This was a 23% move from the open to highs during the session. Last Wednesday’s profile saw an average trade of 2.03 on the session. On Monday it tapped 3.25 for an incredible 60% move in just a few days. Then our Profile from Monday opened at 1.13 and hit 1.32 that same session, closing near the high of the day.
We have another company to you to research for Thursday’s session.
This is a company that we have never profiled on this newsletter before.
Pull up WISA immediately.
WiSA Technologies (Nasdaq: WISA) develops, markets, and sells spatial audio wireless technology for smart devices and next-generation home entertainment systems. Its consortium—the WiSA Association—works with leading consumer electronics companies, technology providers, retailers, and industry partners to make spatial audio an experience that everyone can enjoy. The Company is headquartered in Beaverton, OR.
This one has some incredible catalysts driving it right now.
- Strong IP position and significant patent coverage for immersive audio, with highly- differentiated multichannel wireless audio technology and existing implementations in premium audio brands
- World-class premium technology ported to low-cost IoT chips to address mass market audio systems with software roadmap to address TAM of over 2 billion units
- Establishment and management of the Wireless Speaker and Audio Association with interoperability specification, testing, and compliance standard
- 30+ brands have designed WiSA technologies into their products, with expanded opportunities from Comhear’s products and target markets
- Strong revenue growth from combined company for modules sales, audio systems sales, and licensing
Another MAJOR catalyst is the recent letter of intent signed by the company:
WiSA Technologies Signs Letter of Intent to Acquire Comhear, Inc.
– Transaction expected to be accretive beginning in Q4 2023 –
– Complementary technology and solutions in immersive wireless audio –
BEAVERTON, Ore.–(BUSINESS WIRE)– WiSA Technologies, Inc. (Nasdaq: WISA), a developer of spatial, wireless sound technology for smart devices and next-generation home entertainment systems, has signed a non-binding letter of intent to acquire Comhear, Inc. (Comhear), a developer of AI-enabled adaptive audio technology. The transaction is expected to close in the third quarter of 2023 and be accretive in the fourth quarter of 2023.
Comhear’s proprietary adaptive filtering and beam steering system captures environmental room dynamics, processes data in real-time, and adjusts the audio output. The result is dynamic immersive audio that delivers personalized audio experiences in multiple applications, including home entertainment, gaming, retailing, and location-based entertainment.
“The synergy between the two companies is compelling on many levels, with similar business models driven by audio IP, licensing and module sales,” said Brett Moyer, CEO of WiSA. “We are targeting many of the same customers yet offer complementary solutions that address different use cases, providing WiSA’s sales team with more products to sell to our customers. We are both poised to penetrate the audio market through licensing our technologies. The acquisition of Comhear enhances WiSA’s position as a leader in immersive wireless audio technology, and we expect that the combined company will be well positioned to take market share in this growing market.”
“We expect the addition of Comhear to be accretive beginning in Q4 2023. As a result, we are guiding for full year 2024 revenue in the range of $10 million to $15 million,” added Moyer.
“With the shared vision to deliver next generation immersive audio, I am thrilled to join forces with WiSA and look forward to assuming the role of Chairman of the combined companies following the acquisition,” said Andy Arno, Chairman of Comhear. “Our strategy to license and sell IP-embedded audio modules perfectly overlaps with WiSA’s business model, and our technology is a natural fit in WiSA’s ecosystem. The combined company can leverage WiSA’s many established customer relationships with new products along with additional market segments that have been the focus of Comhear.”
Terms of the Proposed Transaction
Under the proposed acquisition, WiSA would acquire all shares of Comhear common stock in exchange for newly issued shares of WiSA common stock.
The board of directors of the combined company is expected to consist of seven members, four of whom will be appointed by WiSA, including Mr. Moyer, and three of whom will be appointed by Comhear, including Mr. Arno as chairman.
The letter of intent for the proposed transaction is non-binding, and the parties expect to enter into one or more definitive agreements with respect thereto in June 2023. Completion of the transaction is subject to, among other matters, the completion of due diligence, the negotiation of definitive agreements providing for the proposed transaction, and satisfaction of various conditions to be negotiated therein and customary for transactions of the type contemplated, including, but not limited to, receipt of regulatory approvals, the provision of an audit of Comhear’s financial statements, and board of director and WiSA shareholder approvals.
The company expects to issue a proxy statement seeking shareholder approval for the proposed transaction in July 2023. However, there can be no assurance that the parties will successfully negotiate and enter into definitive agreements regarding the proposed transaction, or that the proposed transaction will be completed as currently contemplated, or at all.
About Andrew Arno
Andrew Arno has over 30 years of experience handling a wide range of corporate and financial matters, including work as an investment banker and strategic advisor to emerging growth companies. Mr. Arno served as Chairman of C.E. Unterberg, Towbin, an investment bank, and currently serves on the boards of directors of Smith Micro Software, Inc. and Independa Inc., both software companies, Oncocyte Inc., a medical diagnostics company, as well as Comhear, Inc. Mr. Arno received a BS degree from George Washington University.
WiSA technology products enable the world’s best brands to transmit and receive ultra high-quality audio—wirelessly.
Superb quality, simple setup, and perfect synchronization are all traits that embody WiSA technology. And the brands that incorporate our technology into their products would settle for nothing less. Whether you’re developing TVs and sound systems or purchasing them for your home or business, WiSA ensures your wireless entertainment experience exceeds all expectations.
WiSA Launches Two New Powerful Tools for Implementing, Managing and Testing WiSA-Enabled Products
Tools provide customers with comprehensive support for developing and manufacturing WiSA E and WiSA DS designs for multichannel audio
BEAVERTON, Ore.–(BUSINESS WIRE)– WiSA Technologies, Inc. (NASDAQ: WISA), a leading provider of immersive, wireless sound technology for intelligent devices and next-generation home entertainment systems, announces two new tools available to WiSA Technologies’ customers designed to streamline the development and manufacturing of WiSA E and WiSA DS implementations. The new WiSA Server, in combination with the new Product Support Engineering Tool (PEST), enables faster time-to-market as well as comprehensive management of testing and other aspects of the manufacturing process.
The WiSA Server and PEST tools join the latest version of the mobile app, launched in December 2022, as the latest software-based applications designed to support the WiSA ecosystem of users, product designers and manufacturers.
WiSA Server
Running on the product application processor, WiSA Serveris a low-overhead software package that minimizes the time and effort required by customers to design systems using WiSA software. The WiSA Server Software Design Kit (SDK) provides high-level WiSA API commands via the product and mobile client interfaces and translates them into low-level I2C commands eliminating months from typical development cycles. Benefits include:
- Accelerates product integration with simple, design-proven and tested API commands that significantly reduce code complexity and development time.
- Ensures correct by-design interoperability across product families.
- Supports Linux or RTOS operating system environments.
- Automatically manages system push/pull notifications to all connected client devices. (e.g., volume notifications between mobile device, soundbar and speaker).
Product Support Engineering Tool (PEST)
In addition to managing and simplifying manufacturing module testing and programming, PEST provides efficiencies in test and manufacturing to make products operational and production ready. Benefits include:
- Software programming support to update WiSA modules.
- Tracking and traceability for product modules and final products.
- Configuration support for WiSA modules, including device types, speaker locations, country code and manufacturing data.
- Production test support for WiSA modules and final products including IOs, power, RF/Wi-Fi, audio, and pairing.
“We are doing everything possible to help our customers streamline their upfront development efforts and manage their manufacturing and testing of WiSA E and DS modules,” said Tony Parker, vice president of business development and strategy at WiSA Technologies. “The WiSA server dramatically helps customers reduce upfront development efforts, while the PEST tool provides powerful tracking and management of the final production process. Both add tremendous value to our customers as they develop and manufacture enabled products.”
For customers designing products with WiSA E or DS modules, WiSA Technologies offers a software design kit (SDK) for the WiSA Server and a manufacturing design kit (MDK) for the PEST tool. For more information about the WiSA Server and PEST tools.
MANAGEMENT TEAM
Brett Moyer
Chief Executive Officer, President and Chairman
Brett Moyer is a founding member of the Company and has served as the President and Chief Executive Officer of the Company and as a member of its board of directors since August 2010. From August 2002 to July 2010, Mr. Moyer served as president and chief executive officer of Focus Enhancements, Inc., a developer and marketer of proprietary video technology. From February 1986 to May 1997, Mr. Moyer worked at Zenith Electronics Inc. a consumer electronic company, where he had most recently been the vice president and general manager of its Commercial Products Division. Since June 2016, Mr. Moyer has also served as a member of the board of directors of Alliant International University, a private university offering graduate study in psychology, education, business management, law and forensic studies, and bachelor’s degree programs in several fields. From 2003 to December 2015, he served on the board of directors of HotChalk, Inc., a developer of software for the educational market, and from March 2007 to September 2008, he was a member of the board of directors of NeoMagic Corporation, a developer of semiconductor chips and software that enable multimedia applications for handheld devices. Mr. Moyer received a Bachelor of Arts in Economics from Beloit College in Wisconsin and a Master’s of Business Administration with a concentration in finance and accounting from Thunderbird School of Global Management.
George Oliva
Senior Vice President of Finance and Strategic Operations of the Company
George Oliva joined WiSA Technologies, Inc. in 2019 as the Chief Financial Officer. Mr. Oliva has over 25 years as a senior finance professional, with a background in corporate finance, treasury, financial planning and analysis, manufacturing cost, international tax, and strategic planning. Most recently, he was a partner with Hardesty LLC, a national executive services firm. Mr. Oliva has held several CFO positions. At Penguin Computing, he orchestrated a turn-around. At StorCard, he guided the early-stage company in capital financing and more. At StreamLogic, a public company doing business as Hammer Storage Solutions, he navigated its going-private transaction. Prior to serving in such roles, Mr. Oliva was responsible for financial planning and analysis and operational support as the operations controller for Conner Peripherals and Read-Rite Corporation. Mr. Oliva began his career in auditing with Arthur Andersen & Co. He earned a degree in Business Administration from U.C. Berkeley with a dual emphasis in Accounting and Finance.
Gary Williams
Chief Accounting Officer and Vice President of Finance
Gary Williams has served as Chief Accounting Officer since September 9, 2019 and as Vice President of Finance since the Company’s founding in August 2010. Mr. Williams previously served as Secretary and Chief Financial Officer since the Company’s founding in August 2010 until September 9, 2019. In addition, Mr. Williams served as the Chief Financial Officer of Quantum3D, Inc., a training and simulation technology company, from November 2012 to September 2016. Prior to joining the Company, Mr. Williams served as secretary, vice president of finance and chief financial officer of Focus Enhancements Inc., a developer and marketer of proprietary video technology, from January 2001 to July 2010, when the videography and semiconductor businesses of the company were purchased by VITEC Multimedia, Inc. and the Company, respectively. Mr. Williams served as controller, vice president of finance, chief financial officer and secretary of Videonics Inc., a publicly traded company in the consumer electronics business, from February 1995 to January 2001, when Videonics merged with Focus Enhancements, Inc. From July 1994 to January 1995, Mr. Williams served as controller for Western Micro Technology, a publicly traded company in the electronics distribution business. From January 1990 to June 1994, Mr. Williams worked in public accounting for Coopers & Lybrand LLP. Mr. Williams is a certified public accountant, inactive, and received a Bachelor’s Degree in Business Administration, with an emphasis in Accounting, from San Diego State University.
Ed Green
Vice President of Operations
Ed Green is a founding member of WiSA Technologies, Inc. serving as Vice President of Operations. Currently reporting to Mr. Green are the Production & Test Engineering, Quality and Reliability, and the IT departments. Prior to joining WiSA Technologies, Inc., Mr. Green held several positions at Network Elements Inc., Beaverton, OR. Most recently, Mr. Green was Product Line Manager for NEI’s 10 Gigabit Ethernet group. Mr. Green was the driving force behind NEI’s XENPAK, X2 and XFP programs. Over Mr. Green’s four year career at NEI, he was responsible for all design-for-test (DFT) on NEI’s 10Gb/s SERDES IC, and validation of NEI’s first multi-protocol ASIC. In 2000, Mr. Green served as Chief Operating Officer for Sunhoo.com based in Shanghai, China. There, Mr. Green was responsible for the development and implementation of the company’s business model and plan for a financial web portal in China. For the seven years prior to Sunhoo.com, Mr. Green operated a small chain of family entertainment centers. Mr. Green was responsible for all design, construction, implementation, management, and financial and corporate matters involving the company’s five stores and 70 employees. Mr. Green earned his BS in Electrical Engineering in 1983, and his MBA in Accounting in 2004.
James Cheng
Vice President of Worldwide Sales
Cheng has more than 15 years of experience leading international business development for Silicon Valley tech brands with extensive experience in ecosystem and partner development. Prior to joining WiSA Technologies, Inc., he was VP marketing and business development at Amlogic, Inc., a global fabless SoC company that provides open platform solutions for multimedia consumer devices. Prior, Cheng was director of strategic accounts at GoerTeck, Inc. and senior director of business development at Marvell Semiconductor where he was responsible for developing Google 1st party brand and ecosystem partner business. He holds a B.E. degree in electrical engineering from Tamkang University, a PhD in electrical engineering from Stony Brook University and an MBA from NYU Stern School of Business.
Keith Greeney
Vice President of Engineering
Keith Greeney is a founding member of WiSA Technologies, Inc. serving as Vice President of Engineering. Mr. Greeney manages five groups within WiSA Technologies, Inc.; Research and Development, System Testing, FW Development, Application Development, and Reference Design Development. Mr. Greeney has over 25 years of experience in Firmware, Hardware, Digital Signal Processing (DSP) and ASIC design. He began his career as a system configuration manager at Applied Research Laboratories while pursuing a BSEE from the University of Texas at Austin. Prior to joining WiSA Technologies, Inc., Mr. Greeney was a key contributor to Tektronix’ Federal Systems, the group responsible for developing the world’s first real-time digital spectrum analyzer, the Tektronix 3052. Along with algorithm design and design-for-test (DFT) responsibilities for the 3052, Mr. Greeney developed and implemented the production line. At WiSA Technologies, Inc., he is responsible for the successful design and implementation of over 10 ASICs ranging from scan converters, alpha blenders, UWB and Wireless Audio for key customers including Bang & Olufsen, Intel, and Microsoft Xbox.
Tony Ostrom
President WiSA
Tony Ostrom is the President of the Wireless Audio and Speaker Association (WiSA). His 25-year career in the consumer electronics industry has been focused on product planning and development, consumer research, technology integration, go-to-market planning, marketing, training and sales. Prior to joining WiSA Tony was the Vice President of Product Development at Klipsch Group where he managed multiple categories including Wireless Home Theater, Wireless Distributed Audio, Bluetooth and Powered Audio Solutions. Prior to Klipsch, Tony played key roles in the global launches of Powermat Wireless Charging as well as the House of Marley audio and lifestyle brand. Tony was Director of Product Development and Marketing at Klipsch Group where he drove the Mass Retail and Personal Audio categories and started his career at JL Audio where he was a Technical Director. Tony has a BA in Music Engineering and a Minor in Physics from Ball State University, Muncie Indiana.
Tony Parker
Vice President of Business Development and Strategy
Tony Parker is a founding member of WiSA Technologies, Inc. serving as Vice President of Business Development and Strategy. Mr. Parker has 25 years of experience in semiconductor marketing leadership, with extensive expertise in wireless markets, including WiFi and UWB. Prior to joining WiSA Technologies, Inc., he was director of marketing with Cirrus Logic for ARM system-on-chip solutions and audio DSP products for decoding and post processing of sound effects targeting AVR, DTV and automotive applications. Prior to that, he was senior manager of corporate strategy and technology for Agere Systems, directing and leveraging company-wide resources across multiple product families including data networking, mobile, and storage businesses. Parker also has a proven track record of developing and delivering the right products to semiconductor markets while working in key product management and marketing management positions at Texas Instruments, AT&T, and Lucent Technologies. Mr. Parker holds a BS degree in Electrical Engineering from Bradley University, Peoria Illinois, as well as an MBA degree from Syracuse University, Syracuse, NY.
Sincerely,
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