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