WiSA Q2 rev $0.4M, gross margin neg 47%; guides Q3 $450-600k, Q4 $1.0-1.4M; 5 top soundbar customers onboard WiSA E

Datavault AI Inc.

2023-Q2 EPS reported -$2.02 revenue$894,000

Q2 2023 revenue $0.4M (down 56% YoY from $0.9M); gross margin negative 47% due to $169k inventory reserves.
Cash $2.0M at June 30; subsequent warrant exercise in Aug 2023 raised ~$678k.
Five Tier-1 HDTV/audio customers (50% of global soundbar share) received WiSA E dev kits; each may generate $5-15M revenue annually starting H2 2024.
Expects sequential revenue growth: Q3 2023 $450k-600k, Q4 2023 $1.0M-1.4M.
Plans to cut operating expenses: $500k less H2 2023 vs H2 2022, $2M lower in 2024 vs 2023 plan.

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 0.95

Datavault AI Inc. reported Q2 2023 results: revenue $0.4 million. Guidance initiated.

Period: Q2 2023
Revenue: $0.4 million
Guidance: initiated
Result: reported results

Exact text from the filing

Q2 2023 Financial Highlights · Q2 2023 revenue was $0.4 million, compared to $0.9 million in Q2 2022 and $0.5 million in Q1 2023. · Q2 2023 gross margin as a percentage of sales was negative 47%, compared to 20% in Q2 2022 and negative

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Source: SEC EDGAR

accession 0001104659-23-092223

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