WISA - Summit Wireless Technologies reports Q2 results; issues Q3 and Q4 soft revenue guidance

August, 15 2022 07:11 AM Summit Wireless Technologies Inc.

Summit Wireless Technologies press release ( NASDAQ: WISA ): Q2 Revenue of $0.9M (-43.8% Y/Y).
At June 30, 2022, cash and cash equivalents were $4.8M.
Financial Guidance: Revenue increase in Q3 2022 compared to Q2 2022, and a sequential revenue increase in Q4 2022 vs. Q3 2022; gross margin target range in the mid-20s % range for Q3 2022.
With the $3M secured convertible security commitment, the company believes it will have sufficient cash to execute its business plan into 2023.

For further details see:

Company Name:	Summit Wireless Technologies Inc.
Stock Symbol:	WISA
Market:	NASDAQ
Website:	summitwireless.com