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WiSA Shares Drop On 50% Revenue Decline In Q1; Margin Shrinks

By Anusuya Lahiri
  • WiSA Technologies, Inc (NASDAQ:WISAreported a first-quarter FY22 revenue decline of 50% year-on-year to $0.6 million, missing the consensus of $1.38 million.
  • The gross margin contracted 1,500 bps Y/Y to 11%, impacted by lower sales volumes.
  • WiSA held $9.1 million in cash and equivalents.
  • "As we communicated in our Q4 2021 announcement, Q1 2022 revenue declined from Q4 2021 as supply chain issues worked their way through customers' end markets. Going forward, we expect Q2 2022 revenue to rebound from Q1 2022 and continue to anticipate substantial revenue growth for the full year," said Brett Moyer, CEO and Chair.
  • WiSA looks to end Q2 with 24 issued patents or pending applications.
  • Outlook: WiSA reiterated FY22 revenue growth of 30-50% year-over-year, representing $8.5 million - $9.8 million, versus the consensus of $9.3 million.
  • Price Action: WISA shares traded lower by 19.1% at $0.76 in the premarket on the last check Wednesday.
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Dive Deeper:
Innoviz Shares Drop On Q1 Miss; Clocks 144% Revenue Growth
Innoviz Technologies Ltd (NASDAQ:INVZ) reported first-quarter FY22 revenue growth of 144% year-on-year to $1.77 million, missing the consensus of $2.17 million. EPS loss…
Why RADA Electronic Shares Are Plunging Today
RADA Electronic Industries Ltd (NASDAQ:RADA) reported a first-quarter revenue decline of 11% year-over-year to $22.5 million, missing the consensus of $30.79 million.…
Palantir Misses Earnings In Consecutive Quarters, Lags on Q2 Outlook
Palantir Technologies Inc (NYSE:PLTR) reported first-quarter FY22 revenue growth of 31% year-on-year to $446 million, beating the consensus of $443.4 million. Revenue Drivers: Commercial…
EXCLUSIVE: Babylon Posts 3X Jump In Q1 Sales, Forecasts FY22 Sales Of Over $1B
Digital healthcare company Babylon Holdings Limited (NYSE: BBLN) has reported Q1 FY22 sales of $266.4 million, up 274% Y/Y, beating the consensus…
One subscription that gives you access to news from hundreds of sites
Planet Fitness Posts Mixed Q1 Earnings
Planet Fitness Inc (NYSE:PLNT) reported first-quarter FY22 sales growth of 66.9% year-on-year to $186.68 million, missing the consensus of $189.96 million. Revenue from…
Why Peloton Interactive Shares Are Plunging Today
Peloton Interactive Inc (NASDAQ:PTON) reported a third-quarter FY22 sales decline of 24% year-on-year to $964.3 million, missing the consensus of $972.88 million. Ending…
Get all your news in one place