Financial Data and Key Metrics Changes - For the full year of 2022, revenues were $3.4 million, down approximately 49% from $6.5 million in 2021 [31] - Gross margin decreased to 11.7% compared to 28.5% in 2021, primarily due to decreased volumes [31] - Operating expenses were $18.4 million, including $2.2 million of noncash expenses, compared to $13.4 million in 2021 [32] - Cash at year-end was $2.9 million after a financing of gross $7.6 million [33] Business Line Data and Key Metrics Changes - WiSA HT, the original module, targets the audiophile speaker market, while WiSA DS aims at the soundbar market, which is estimated at 40 million units annually [11][12] - WiSA E was demonstrated at CES, showcasing advancements in wireless audio technology [20][24] - The company expects new WiSA HT designs to go into production in the second half of 2023, alongside new WiSA DS designs [30] Market Data and Key Metrics Changes - The consumer electronics industry is experiencing a slump due to overbuilt inventory and weak consumer demand, impacting the company's performance [9][28] - The company anticipates that inventory imbalances will be addressed by midyear 2023 [47] Company Strategy and Development Direction - The company is focusing on expanding its product line and enhancing its technology to penetrate new markets [35] - WiSA E is seen as a significant opportunity to eliminate costs associated with soundbars and improve consumer experience [21][23] - The marketing strategy includes linking WiSA certification to Dolby Atmos or DTS:X to leverage the company's strengths in audio channels [26] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the challenges posed by the current macroeconomic environment but remains optimistic about growth in the second half of 2023 [9][34] - The company expects to see revenue growth year-over-year despite a slow start in Q1 [34][30] Other Important Information - The company plans to reduce operating expenses by over $1 million from Q4 to Q1 [9] - There are ongoing discussions for strategic partnerships to enhance financial stability [77][80] Q&A Session Summary Question: Can you help us understand the drivers for revenue growth in 2023? - Management indicated that new designs for WiSA HT and DS will drive revenue, while WiSA E is expected to contribute in 2024 [38][39] Question: What is the outlook for industry inventory levels? - Management believes that inventory imbalances will be addressed within 12 months, with expectations of a return to normal demand levels by midyear [47] Question: Are there any risks regarding supply chain and component availability? - Management expressed confidence in their ability to supply modules without significant issues, although there may be some caution regarding overall demand [49][50] Question: What are the plans for reducing operating costs? - Management confirmed that they have trimmed expenses and will continue to optimize operations while maintaining essential R&D efforts [64][66] Question: What is the rationale behind the recent reverse split? - Management explained that the reverse split was necessary to avoid delisting from NASDAQ due to minimum bid requirements [86]

As filed with the U.S. Securities and Exchange Commission on February 14, 2023 Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 WISA TECHNOLOGIES, INC. (Address, including zip code, and telephone number, including area code, of registrant's principal executive offices) Brett Moyer Chief Executive Officer WiSA Technologies, Inc. 15268 NW Greenbrier Pkwy Beaverton, OR 97006 (408) 627-4716 (Name, addre ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________to _______________. Commission File Number: 001-38608 WISA Technologies, Inc. (Exact name of registrant as specified in it ...

PART I: FINANCIAL INFORMATION [Item 1. Financial Statements (unaudited)](index=3&type=section&id=Item%201.%20Financial%20Statements%20(unaudited)) WiSA Technologies, Inc. reported a net loss of **$8.0 million** on **$1.5 million** revenue for the six months ended June 30, 2022, with cash decreasing to **$4.8 million** and a going concern uncertainty [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets decreased to **$12.2 million** by June 30, 2022, driven by a reduction in cash, while stockholders' equity declined to **$9.4 million** Balance Sheet Highlights (Thousands of USD) | Balance Sheet Highlights (Thousands of USD) | June 30, 2022 (Thousands of USD) | December 31, 2021 (Thousands of USD) | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $4,762 | $13,108 | | Inventories | $6,248 | $4,780 | | Total current assets | $11,780 | $19,188 | | Total assets | $12,205 | $19,391 | | **Liabilities & Equity** | | | | Total current liabilities | $2,702 | $2,965 | | Total liabilities | $2,821 | $3,014 | | Total stockholders' equity | $9,384 | $16,377 | [Condensed Consolidated Statements of Operations](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q2 2022 revenue decreased **40%** to **$0.95 million**, with net loss widening to **$4.1 million**, driven by lower revenue and increased operating expenses Statement of Operations (Thousands of USD) | Statement of Operations (Thousands of USD) | Three Months Ended June 30, 2022 (Thousands of USD) | Three Months Ended June 30, 2021 (Thousands of USD) | Six Months Ended June 30, 2022 (Thousands of USD) | Six Months Ended June 30, 2021 (Thousands of USD) | | :--- | :--- | :--- | :--- | :--- | | Revenue, net | $946 | $1,581 | $1,512 | $2,734 | | Gross profit | $188 | $459 | $250 | $754 | | Loss from operations | $(4,103) | $(2,809) | $(8,004) | $(5,529) | | Net loss | $(4,108) | $(3,398) | $(8,012) | $(6,690) | | Net loss per share | $(0.27) | $(0.42) | $(0.54) | $(0.76) | [Condensed Consolidated Statements of Cash Flows](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities increased to **$8.3 million** for the six months ended June 30, 2022, reducing cash balance to **$4.8 million** Cash Flow Summary (Thousands of USD) | Cash Flow Summary (Thousands of USD) | Six Months Ended June 30, 2022 (Thousands of USD) | Six Months Ended June 30, 2021 (Thousands of USD) | | :--- | :--- | :--- | | Net cash used in operating activities | $(8,307) | $(5,328) | | Net cash used in investing activities | $(27) | $(36) | | Net cash (used in) provided by financing activities | $(12) | $8,242 | | Net (decrease) increase in cash | $(8,346) | $2,878 | | Cash and cash equivalents at end of period | $4,762 | $10,293 | [Notes to Condensed Consolidated Financial Statements](index=7&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes detail revenue recognition, a **going concern** uncertainty, NASDAQ non-compliance, and a subsequent **$3.6 million** convertible note private placement - The company received a notification from Nasdaq on June 23, 2022, for non-compliance with the minimum bid price requirement, as its stock closed below **$1.00** for 30 consecutive business days, with a deadline of **December 20, 2022**, to regain compliance[20](index=20&type=chunk)[21](index=21&type=chunk) - There is **substantial doubt** about the company's ability to continue as a **going concern** due to recurring net losses and negative cash flow from operations, with management planning to raise additional funds[60](index=60&type=chunk)[61](index=61&type=chunk)[62](index=62&type=chunk) Revenue by Product (Thousands of USD) | Revenue by Product (Thousands of USD) | Three Months Ended June 30, 2022 (Thousands of USD) | Three Months Ended June 30, 2021 (Thousands of USD) | Six Months Ended June 30, 2022 (Thousands of USD) | Six Months Ended June 30, 2021 (Thousands of USD) | | :--- | :--- | :--- | :--- | :--- | | Components | $772 | $1,327 | $1,073 | $2,317 | | Consumer Audio Products | $174 | $254 | $439 | $417 | | **Total** | **$946** | **$1,581** | **$1,512** | **$2,734** | - On August 15, 2022, the company entered into an agreement to issue a senior secured convertible note of **$3.6 million** and warrants for gross proceeds of **$3.0 million** from an institutional investor[116](index=116&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=25&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Q2 2022 revenue declined **40%** due to supply chain issues, gross margin fell to **19.9%**, operating expenses increased, and cash significantly weakened - Revenue for Q2 2022 decreased by **40%** to **$946,000** from **$1,581,000** in Q2 2021, primarily due to a **$555,000** decrease in Component revenue from customer-side supply chain disruptions[129](index=129&type=chunk) - Gross margin for Q2 2022 fell to **19.9%** from **29.0%** in Q2 2021, mainly due to reduced sales volumes against fixed manufacturing costs[131](index=131&type=chunk) Operating Expense Changes (Q2 2022 vs Q2 2021, Thousands of USD) | Operating Expense Changes (Q2 2022 vs Q2 2021, Thousands of USD) | Q2 2022 (Thousands of USD) | Q2 2021 (Thousands of USD) | Change (Thousands of USD) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Research and development | $1,883 | $1,305 | +$578 | Increased salary, consulting, legal, and recruiting expenses | | Sales and marketing | $1,326 | $975 | +$351 | Increased salary, stock compensation, consulting, and advertising | | General and administrative | $1,082 | $988 | +$94 | Increased stock compensation and board fees | - The company's cash and cash equivalents dropped to **$4.8 million** as of June 30, 2022, from **$13.1 million** at year-end 2021, with management anticipating the need to raise additional capital[143](index=143&type=chunk)[145](index=145&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=29&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company is exempt from providing market risk disclosures as it qualifies as a **smaller reporting company** - The company is **not required** to provide quantitative and qualitative disclosures about market risk because it qualifies as a **smaller reporting company**[146](index=146&type=chunk) [Item 4. Controls and Procedures](index=29&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were **effective** as of June 30, 2022, with no material changes to internal controls - Management concluded that as of June 30, 2022, the company's disclosure controls and procedures were **effective** in ensuring timely information disclosure[147](index=147&type=chunk) - **No changes** in the company's internal control over financial reporting occurred during Q2 2022 that materially affected, or are reasonably likely to materially affect, internal controls[148](index=148&type=chunk) PART II. OTHER INFORMATION [Item 1. Legal Proceedings](index=30&type=section&id=Item%201.%20Legal%20Proceedings) The company is **not involved** in any legal proceedings expected to materially adversely affect its business or financial condition - The company is **not party** to any pending legal proceedings that are expected to have a **material adverse effect** on its financial condition or business operations[150](index=150&type=chunk) [Item 1A. Risk Factors](index=30&type=section&id=Item%201A.%20Risk%20Factors) Sales declines in H1 2022 were due to **supply chain disruptions**, and any further delays could materially impact financial results - The company's sales have **declined** in H1 2022 due to **supply chain disruptions** experienced by industry partners and customers, causing delays throughout the consumer electronics industry[152](index=152&type=chunk) - A **material delay** in product introduction or delivery, or limited component allocations, could lead to **reduced sales** and a **material adverse impact** on the company's financial results[152](index=152&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=30&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No unregistered sales of equity securities were reported during the period - No unregistered sales of equity securities were reported[154](index=154&type=chunk) [Item 3. Defaults Upon Senior Securities](index=30&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) No defaults upon senior securities were reported during the period - No defaults upon senior securities were reported[155](index=155&type=chunk) [Item 4. Mine Safety Disclosures](index=30&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company's operations - This disclosure item is not applicable to the company[156](index=156&type=chunk) [Item 5. Other Information](index=30&type=section&id=Item%205.%20Other%20Information) No other material information is reported for the period - No other material information was reported[157](index=157&type=chunk) [Item 6. Exhibits](index=31&type=section&id=Item%206.%20Exhibits) Exhibits filed with Form 10-Q include **CEO and CFO certifications** and **Interactive Data Files** - Exhibits filed include **CEO and CFO certifications** pursuant to Sections 302 and 906 of the Sarbanes-Oxley Act, and **Interactive Data Files (XBRL)**[158](index=158&type=chunk)

WiSA Technologies, Inc. (NASDAQ:WISA) Q2 2022 Results Conference Call August 15, 2022 12:00 PM ET Company Participants David Barnard - Investor Relations Brett Moyer - President and Chief Executive Officer George Oliva - Chief Financial Officer Conference Call Participants Jack Vander - Maxim Group LLC Kevin Dede - HC Wainwright Edward Woo - Ascendiant Capital Markets David Barnard Welcome to the WiSA Technologies’s Second Quarter Financial Results Conference Call. At this time, all participants are in a li ...

WiSA Technologies, Inc. (NASDAQ:WISA) Q1 2022 Earnings Conference Call May 11, 2022 11:00 AM ET Company Participants David Barnard - LHA, IR Brett Moyer - Chairman, President & CEO George Oliva - CFO Conference Call Participants Jack Vander Aarde - Maxim Group Kevin Dede - H.C. Wainwright Ed Woo - Ascendiant Capital Operator …all participants are in a listen-only mode. A brief Q&A session will follow the formal presentation. As a reminder, this conference is being recorded. With us today are Brett Moyer, CE ...

NASDAQ: WISA High-quality Wi-Fi Audio Delivering Immersive Sound WiSA Technologies, Inc. Q1 2022 Investor Call May 11, 2022 Forward Looking Statements This presentation of WiSA Technologies Inc., formerly Summit Wireless Technologies, Inc. (NASDAQ: WISA) (the "Company" or "WiSA") contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Readers are cautioned not to place undue reliance ...

[PART I: FINANCIAL INFORMATION](index=3&type=section&id=PART%20I%3A%20FINANCIAL%20INFORMATION) This section presents the unaudited condensed consolidated financial information, including statements, management's discussion, and controls [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) This section presents WiSA Technologies' unaudited condensed consolidated financial statements and comprehensive notes [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) This section details the company's financial position, outlining assets, liabilities, and equity at specific dates | Assets/Liabilities/Equity | March 31, 2022 (in thousands) | December 31, 2021 (in thousands) | | :------------------------ | :----------------------------- | :----------------------------- | | Cash and cash equivalents | $9,061 | $13,108 | | Total current assets | $16,512 | $19,188 | | Total assets | $16,972 | $19,391 | | Total current liabilities | $3,827 | $2,965 | | Total liabilities | $3,986 | $3,014 | | Total stockholders' equity| $12,986 | $16,377 | [Condensed Consolidated Statements of Operations](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) This section details the company's financial performance, including revenue, expenses, and net loss for specific periods | Metric | Three Months Ended March 31, 2022 (in thousands) | Three Months Ended March 31, 2021 (in thousands) | | :------------------------ | :----------------------------------------------- | :----------------------------------------------- | | Revenue, net | $566 | $1,153 | | Cost of revenue | $504 | $858 | | Gross profit | $62 | $295 | | Total operating expenses | $3,963 | $3,015 | | Loss from operations | $(3,901) | $(2,720) | | Net loss | $(3,904) | $(3,292) | | Net loss per common share | $(0.26) | $(0.33) | [Condensed Consolidated Statements of Convertible Preferred Stock and Stockholders' Equity (Deficit)](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Convertible%20Preferred%20Stock%20and%20Stockholders%27%20Equity%20%28Deficit%29) This section outlines changes in the company's equity, including common shares, paid-in capital, and accumulated deficit | Item | Balance as of Dec 31, 2021 (in thousands) | Balance as of Mar 31, 2022 (in thousands) | | :---------------------------------- | :---------------------------------------- | :---------------------------------------- | | Common Shares Outstanding | 15,819,059 | 16,883,464 | | Additional Paid-in Capital | $228,578 | $229,058 |\ | Accumulated Deficit | $(212,203) | $(216,074) |\ | Total Stockholders' Equity (Deficit)| $16,377 | $12,986 | - The company recorded a **net loss of $3.904 million** for the three months ended March 31, 2022, increasing the accumulated deficit[15](index=15&type=chunk) - **Stock-based compensation** for the three months ended March 31, 2022, amounted to **$480 thousand**, increasing additional paid-in capital[15](index=15&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) This section summarizes cash flows from operating, investing, and financing activities over specific periods | Cash Flow Activity | Three Months Ended March 31, 2022 (in thousands) | Three Months Ended March 31, 2021 (in thousands) | | :-------------------------------- | :----------------------------------------------- | :----------------------------------------------- | | Net cash used in operating activities | $(4,034) | $(2,771) | | Net cash used in investing activities | $(7) | $(26) | | Net cash (used in) provided by financing activities | $(6) | $5,089 | | Net (decrease) increase in cash and cash equivalents | $(4,047) | $2,292 | | Cash and cash equivalents as of end of period | $9,061 | $9,707 | [Notes to Condensed Consolidated Financial Statements](index=7&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) This section provides detailed explanations and disclosures for the condensed consolidated financial statements [1. Business and Summary of Significant Accounting Policies](index=7&type=section&id=1.%20Business%20and%20Summary%20of%20Significant%20Accounting%20Policies) This section describes the company's core business, operational focus, and key accounting principles - WiSA Technologies, Inc. focuses on **immersive wireless sound technology** for intelligent devices and home entertainment, selling module components and audio products[20](index=20&type=chunk) - The company relies on **sole-source suppliers** for key components and single contractors in China and Japan for assembly, testing, and semiconductor chips[28](index=28&type=chunk) Net Revenue by Product Category | (in thousands) | For the Three Months Ended March 31, 2022 | For the Three Months Ended March 31, 2021 | | :---------------------- | :---------------------------------------- | :---------------------------------------- | | Components | $301 | $990 | | Consumer Audio Products | $265 | $163 | | Total | $566 | $1,153 | Impact of ASC 842 Adoption on Balance Sheet (January 1, 2022) | Item | Balance as of Dec 31, 2021 (in thousands) | Adjustments Due to ASC 842 (in thousands) | Balance as of Jan 1, 2022 (in thousands) | | :---------------------------------- | :---------------------------------------- | :---------------------------------------- | :--------------------------------------- | | Operating lease right-of-use assets | $— | $212 | $212 | | Property and equipment, net | $162 | $90 | $252 | | Operating lease liabilities, current| $— | $148 | $148 | | Operating lease liabilities, non-current| $— | $179 | $179 | | Accumulated deficit | $(212,203) | $33 | $(212,170) | [2. Going Concern](index=16&type=section&id=2.%20Going%20Concern) This section addresses the company's ability to continue operations, highlighting financial challenges and funding needs - The Company has incurred **net operating losses since inception** and reported **net cash used in operations of $4.0 million** for the three months ended March 31, 2022, with **cash and cash equivalents of $9.1 million**[59](index=59&type=chunk) - Management expects **operating losses to continue** due to R&D, product expansion, and market share increase, necessitating additional funds through equity or debt[59](index=59&type=chunk)[60](index=60&type=chunk) - These factors raise **substantial doubt about the Company's ability to continue as a going concern** for the next twelve months, with no assurance of future financing on acceptable terms[60](index=60&type=chunk)[61](index=61&type=chunk) [3. Balance Sheet Components](index=16&type=section&id=3.%20Balance%20Sheet%20Components) This section provides detailed breakdowns of key balance sheet items: inventories, property, and accrued liabilities Inventories (in thousands) | Category | March 31, 2022 | December 31, 2021 | | :-------------- | :------------- | :---------------- | | Raw materials | $1,915 | $2,057 | | Work in progress| $1,186 | $1,403 | | Finished goods | $3,126 | $1,320 | | Total inventories | $6,227 | $4,780 | Property and equipment, net (in thousands) | Category | March 31, 2022 | December 31, 2021 | | :---------------------------- | :------------- | :---------------- | | Machinery and equipment | $963 | $965 | | Leasehold improvements | $127 | $40 | | Total property and equipment, net | $231 | $162 | Accrued liabilities (in thousands) | Category | March 31, 2022 | December 31, 2021 | | :-------------------- | :------------- | :---------------- | | Accrued vacation | $420 | $385 | | Accrued rebate | $346 | $356 | | Customer advances | $265 | $— | | Total accrued liabilities | $1,727 | $1,416 | [4. Borrowings](index=17&type=section&id=4.%20Borrowings) This section details the company's debt instruments and related financial events, including loan forgiveness - The Company received **full loan forgiveness for its $847 thousand PPP Loan**, plus interest, totaling **$859 thousand**, recognized as a gain upon debt extingu

Summit Wireless Technologies, Inc. (NASDAQ:WISA) Q4 2021 Earnings Conference Call March 11, 2022 11:00 AM ET Company Participants David Barnard - LHA, IR Brett Moyer - Chairman, President & CEO George Oliva - CFO Conference Call Participants Jack Vander Aarde - Maxim Group Marty Elbaum - Horizon Networks David Lavigne - Trickle Research Disclaimer*: This transcript is designed to be used alongside the freely available audio recording on this page. Timestamps within the transcript are designed to help you na ...

Financial Performance & Growth - Q4 2021 revenue reached $2.0 million, a 93% increase compared to Q4 2020[41] - The company anticipates a 30-50% year-over-year revenue growth for the full year 2022[41,44] - Gross margin in Q4 2021 was 30%, up from 24% in Q4 2020[41] - The company projects a 28-30% gross margin target for 2022[41] Market & Technology Expansion - WiSA is expanding its technology from the audiophile market to the broader immersive audio consumer market, targeting a Total Addressable Market (TAM) of over 1 billion units[44] - The company is moving towards lower costs and ubiquity with low-cost IoT chip modules and embedded software/IP[10] - WiSA's new branding strategy aims to increase consumer awareness of interoperable products[9] Product & Application Development - The SoundSend app will be expanded from Android TVs to Web OS (LG) and Tizen (Samsung) in 2022[29] - WiSA is launching new feature WiSADS in March 2022, with lower price < $15 for wireless modules[32,33] Market Opportunity - The projected soundbar Serviceable Available Market (SAM) for 2022 is 52.1 million units[34] - WiSA systems are projected to account for 2.1 million units of the soundbar market in 2022, representing a 5% market share[35]