WiSA Q1 rev $0.5M, gross margin -267%; LOI to buy Comhear, sees 2024 rev $10-15M

Datavault AI Inc.

2023-Q1 EPS reported -$0.53 revenue$469,000

Q1 2023 revenue $0.5M vs $0.6M Q1 2022; gross margin negative 267% due to $1.3M inventory reserve.
Cash at March 31, 2023: $5.3M; April 2023 offered $1.2M gross; paid off Senior Secured Convertible Note.
Signed non-binding LOI to acquire Comhear (AI adaptive audio); expected close Q3 2023, accretive Q4 2023.
Guidance: full 2023 revenue growth; post-acquisition 2024 revenue guided $10M-$15M.
Definitive agreements expected June 2023; proxy for shareholder approval planned for July 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Datavault AI Inc. reported the quarter ended March 31, 2023 results: revenue $0.5 million. Guidance initiated.

Period: the quarter ended March 31, 2023
Revenue: $0.5 million
Guidance: initiated
Result: reported results

Exact text from the filing

● Q1 2023 revenue was $0.5 million, compared to $0.6 million in Q1 2022 and $0.9 million in Q4 2022.

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Source: SEC EDGAR

accession 0001104659-23-061552

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