WiSA Technologies Q3 Revenue $0.8M Up 81% QoQ; Gross Margin Negative 217% on $1.4M Inventory Reserve

Datavault AI Inc.

2023-Q3 EPS reported -$2.96 revenue$1,663,000

Q3 revenue of $0.8M down 18% YoY but up 81% sequentially from Q2 2023.
Gross margin negative 217% due to $1.4M inventory reserve for legacy HT semiconductor chips.
WiSA E licensed by 13 TV brands; 7 reviewing agreement; over 85 dev boards shipped.
Platin Audio Milan soundbars with WiSA E now shipping; expected Q4 revenue.
Cash operating expenses to drop $0.5M in Q4 and $1.1M in Q1 2024 vs Q3 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 September 30, 2023 results: revenue $0.8 million.

Period: the quarter ended September 30, 2023
Revenue: $0.8 million
Result: reported results

Exact text from the filing

audio with Dolby Atmos audio and Milan’s four up-firing speakers.” Moyer continued, “In Q3 2023, lower pricing on speakers drove sequential revenue growth, with sales of $0.8 million up over 81% vs. Q2 2023. While converting inventory to cash, the pricing incentives resulted in low margin sales. In addition, given the high customer interest and our strategic

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Source: SEC EDGAR

accession 0001104659-23-118814

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