WiSA Technologies(WISA) - 2024 Q4 - Annual Report

Revenue and Profit - Revenue for the year ended December 31, 2024 was $2,674,000, an increase of$591,000 or 28% compared to $2,083,000 for the year ended December 31, 2023[101] - Gross profit for the year ended December 31, 2024 was$376,000, an increase of $3,833,000 compared to a gross deficit of$3,457,000 for the year ended December 31, 2023, resulting in a gross margin of 14%[103] Expenses - Research and development expenses for the year ended December 31, 2024 were $7,818,000, an increase of$362,000 compared to $7,456,000 for the year ended December 31, 2023[104] - Sales and marketing expenses for the year ended December 31, 2024 were$3,974,000, a decrease of $1,203,000 compared to$5,177,000 for the year ended December 31, 2023[105] - General and administrative expenses for the year ended December 31, 2024 were $9,722,000, an increase of$4,355,000 compared to $5,367,000 for the year ended December 31, 2023[106] - Interest expense for the year ended December 31, 2024 was$1,272,000 compared to $932,000 for the year ended December 31, 2023[107] Cash Flow - Cash and cash equivalents as of December 31, 2024 were$3,330,000, compared to $411,000 as of December 31, 2023[115] - Net cash used in operating activities for the year ended December 31, 2024 was$17,526,000, compared to $14,826,000 for the year ended December 31, 2023[116] Other Financial Information - The company recorded a deemed dividend of$5,842,000 during the year ended December 31, 2024 related to the repurchase of Series B Preferred Stock shares[112] - The company expects operating losses to continue in the foreseeable future due to additional costs related to research and development and plans to expand its product portfolio[119]