WiSA Technologies Inc. (WiSA Stock)

WiSA Technologies Inc. (NASDAQ: WISA) develops spatial, wireless sound technology for next-generation home entertainment systems and smart devices. WISA is to announce Q1 2023 earnings on May 16; they are acquiring an AI-based audio technology developer Comhear Inc. 

WiSA Technologies Earnings Today; Expectations & Analysis

The Beaverton, Oregon-based WiSA is releasing its earnings report on May 16, 2023, before the market opens. The information would cover the financials of Q1 2023. As per Zack Investment Research, the expected Earnings per Share (EPS) for Q1 to be minus $2.86, which was reported to be negative $26 in Q1 2022, a hike of around 90%. 

Data shows that EPS rose significantly over the last few quarters. If that continues the results can surpass the consensus. 

In Q4 2022, the revenue stood at $0.9 Million, probably due to lower spending on consumer electronics. Currently, it is at $3.37 Million. Considering the low demand, the company expects the operating expenses to be around $1.1 Million lower in Q1 2023 compared to Q4 2022. 

WiSA signed a non-bearing letter of intent to acquire the developer of AI-enabled adaptive audio technology company Comhear Inc. The transaction of the San Diego-based company is expected to close in the third quarter of the present financial year 2023 and will be accretive in Q4 2023. 

WiSA stock was trading at $1.61 at press time, gaining 1.90%. The current value is down by around 97% from its 52-week high of $87.3. The highest stock price for the company was $10,547.40, achieved on October 26, 2018. Analysts have placed the price target at $218.67 with a whopping 13,481.8% upside. However, the consensus price target is within limits and is $2.19. 

Previous close and open were at $1.58 and $2.17, respectively, and the 52-week change was a drop of 97.79% in the stock price. Revenue per share is $17.27, and the quarterly revenue growth dropped by 54.20%. The profit margin remains at 0.00%, while the operating margin stumbled by 536.20%. 

Returns on Assets and Equity suffered by 73.13% and 224.62%, respectively. Total cash in hand is $2.9 Million, with a debt of $665k. This brings the debt-to-equity ratio to 3.03. 

The last earnings were reported on November 14, 2022, with reported revenue of $937k. It was estimated to be $1.43 Million, giving a surprise of minus $496.333k and a drop of 34.36%. 

WiSA Technologies Inc. – Candle Exploration

The current value is down by around 94% from EMA and is barely above the $1 limit. If the WiSA stock price remains below $1 for 30 consecutive days, it could be delisted from NASDAQ. The company would then be given a 180 days timeframe in which the stock price has to be above $1 for ten consecutive days to relist. 

WiSA stock price has been relatively flat in 2023; RSI has also been fluctuating and is currently in the neutral zone of 52.47. The future of the stock depends significantly on the earnings report. A good earning could fuel the rally, while a bad one might cause the stock to de-list. 

Disclaimer:

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

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