The following is a summary of the WiSA Technologies, Inc. (WISA) Q1 2024 Earnings Call Transcript:

Financial Performance:

• WiSA Technologies reported Q1 2024 revenues of under $500,000 due to various operational expenses such as securing shareholders' approval.

• They remain optimistic about increased revenue in the latter half of 2024 from their licensing deals, engineering services, and royalties.

• The company strengthened its cash balance, and they hold close to $8 million in cash.

• The expected operating expense will continue to be approximately $900,000/month, which they plan to offset with the income from the selling off of inventory.

Business Progress:

• WiSA launched WiSA E in the previous year, and they began licensing the software in Q4 of the prior year.

• They have already signed five licensing agreements this year and plan on securing at least three more by the end of the year.

• In an effort to maintain its NASDAQ listing, WiSA has invested significant resources, including a new proposal that aims to decrease the quorum requirement from 50% to 30% or 33%.

• There are ongoing negotiations for three additional agreements primarily catering to the TV and set-top box market.

• WiSA E plans to launch internationally with different strategies for the US and European markets.

More details: WiSA Technologies IR

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