WISA - Earnings call transcript Q3 2021

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Operator

Greetings, and welcome to the Summit Wireless Technologies Third Quarter 2021 Financial Results Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Kirsten Chapman. Kirsten. you, Thank

begin. You may

Kirsten Chapman

CEO Paul. you Good XXXX like you, Summit everyone. results CFO, Moyer; George Oliva. morning, the Summit welcome Wireless, are to today quarter With to President, Wireless Brett call. and Thank us I'd and Technologies financial third

forward-looking XXE I call of Private the certain I'd harbor Securities Reform Act to Before provides like of a everyone of filings, remind turn the including harbor statements safe of Securities and chain SEC the Such XXXX available information drivers. disruptions its pandemic, safe the the statement Section Brett, to XXXX. statements, referenced in to statements or made predict XXA of Section the course and today's to call. are not within supply Statements our These that and the measure risks COVID-XX during the subject are of nature pandemic about expectations on company and or COVID-XX of and reflect company's contained inability the based operating historical the in statements of statements including herein and on Of forward-looking forward-looking number other Securities forward-looking current current Act constitute resulting uncertainties with results, future performance uncertainties meaning Litigation facts a currently the forward-looking to opportunities. Act associated of XXXX based macroeconomic other factors, from the are and are

entering of wins design timing predict production the ability Our with the revenue design our potential and to wins. future associated

opportunities others forward-looking conditions legal developments; competition, markets, and employees, retain to adequate manufacturing including price motivate the performance and differ the and expressed higher economy predict by affecting in Our demand the developments and growth secure products and the demand materially future and effect statements. our could implied or and the for customer Consumer end retire technological, to of and our customers' those our cause company's prospects markets results, to from existing to financial regulatory ability ability actual that in competition, rate, capacity. and our

detailed uncertainties business, a SEC refer company's some of the of company's the you the various risks to and For I'll more filings. discussion ongoing of

Now it Brett Summit's is to Please call CEO, Mayer. the Brett. to over go ahead, pleasure my turn

Brett Moyer

called speakers, should from And we whose some an a there's and see you, or morning, I association that or TV speaker, signal out to call. earnings quick the middle received of a from that ladies Thank just anybody a good signal our speaker and get to that that standard right a TV out you ASIC now. wireless it a make on you right? new, consumer. join speaker may be of X slides Kirsten, IP taking being those Summit you wireless in then X Some we is is sent WiSA, gentlemen. -- the day have appreciate and and handle sure signal a organizations chips the for clean develop go to your is how the companies sold to time your for multichannels, how Primarily, the Two in function audio. when be should interoperability side,

product, So the will that technically, lot TV our speaker will that's consumer and and a it knows WiSA from standard. it, modules a sells module make So a model brand is today. WiSA with in have our one Summit that a with of is works right? speaker when certified, WiSA each consumer's transmitter, perspective, revenue certified, manages the that that this speakers But these work

home think theater pretty system. Rolling tested. all exciting the in the interesting since X.X the $XXX Some last called you only that's systems last when call, Plat Milan week, of news Stones Rolling it's Stones, And best

with Christmas HDMI the ads, that back see show executives launched you'll in the to that in engage up X day. We leading able So obviously right? HTMI were

ran one IP So HDMI and Eric One is ran one and organization was the Almgren licensing. Venuti. the all Steve one

besides that So then And Bang the biggest that today, guys on the series opened Hisense, talked, X when stores them technology we now from coming a customers storefront. Olufsen, think the just product of & step really, this helping And are brought is and on had launches LG, list our X to us Hansong. roll we as our HDMI like WiSA next-generation drive out. I last But Toshiba, have we shortly. up we help open Amazon of Harman, and we

had design lower they on or customers customers super From built there's product, see but where now unavailable out. parts education been websites, it slightly existing traffic retailer or to And around to to in WiSA consumer we or could it our through all we perspective, call once, the still time. analytics, that stores short does and a drive grow of lead depends high-value they've a people, times there WiSA the million those to are a retailers. plus they twice, visit have are minus, out, to is last XXX%. expected being which not by drive -- products both going projects couple X we're to continuing about we're the Revenue are bit that that mean time, us a we're our and stores, And we've for what is a whether than us believe redesigned little analytics same long handled each that products X that. ecosystem expect This talk So X our long sites as e-tailer, times. more our and starting allows them, come brand

year, will we the of ship right. All those is first anticipate. in what So next half

what you if theater about home think nominate best $XXX. Just Rolling Stone briefly, is just system,

in speaker, little for You've right? left speaker, speaker, you the So a true sound front soundbar. right the $XXX, not of spatial that got get center room, a

You got rear speakers.

and segment $XXX It's soundbar Sony/SonosBose of from now is ideally many soundbar lower versus audio consumer WiSA You setup $XXX enabling great or the think for actually. others prices. with an $X,XXX.We market got set pretty offer. of that with spatial immersive big I a and compare simplicity a

And so our that's model.

with seeing picture about and pricing out is, promotional audio this right? the world. out or But Olufsen this Rolling by this digital there. you'll as WiSA floating best that us one But the around in or about talk powerful right? world. the that's go the into lets So see can think consumers and the lets one ones probably see then for be & great logo WiSA So some around awards, nominated is they been WiSA this it digital want it, media the and You the itself, a system Stones preference whatever come or oncloud next their Bang ecosystem or ones do this you'll out

back, is talked rapidly our about around slides audio about We've we're from the spatial of for It couple soundbar. coming a remember you what come spatial spatial several to years a perspective in industry talked important. But if seeing we've audio. is can't audio that Now of slide. just

You XX, Apple, tech Verge, can can the speakers. soundbar, audio rag, there's using the simulate Amazon, use which last XX And a in articles in spatial see came like you but out all Verizon, these nothing Netflix, the is algorithms to it algorithms days. in on multiple

you're new will and is moving fact important. a that to stereo speaker So will listening industry a to music, whole we're yes, a algorithms is in help more. we're the experience system, excited soundbar lot movies, pretty that small but a to technology, And about matters, around spatial coming it the watching whether or algorithms audio do

speakers If that room. X you got around float X, X,

relevant. few house. our calls in we room next continue is relevant vision It's But from our the around phone. audio to can a will is expand spatial It Now every next generation. be of driven in our that

right? system, So put you it, it as system want. are on the same. any or to growth Three still Apple drivers our opposed don't that open to You expensive you an WiSA's need That's closed close have Sonos vision run right? brand architectures,

there's you've products this a the role. target They The million. -- about SoundSend products. has talk lots they audio, broad the that opportunity giving the consumers next-generation analytics, expose the years transmitter Atmos that and, speakers, probably It X shipping lets have this, now its we've ads, wave but to immersive confidence it's us across it speaker When lets speakers. the what performing of retailers right know our it and industry consumers see for here those type by resellers who's WiSA If are And think given wave and X out say, jump sales. visitors, of We that's going create going to to does Quickly, national SoundSend's brands there's we're supporting have spatial to got a to but can to products think audio reach to remarketing SoundSend, course, about technology. didn't pages. headed million Atmos. WiSA if marketing the of their and headed It's and to see gives around landing certified to go analytics back stores then. cost you're hub we affordable close X that and over been the you're for target WiSA going companies of a and too, Eclipse great old bought, WiSA confidence keep before, $X

back consumers.We industry this time analytics shopping, one this lot the brands about Platin we slide, positioning analytics, allows right? use brand, WiSA to to make us continue Again, if we're results, you side selection He entry-level sites. against the WiSA and But to competes have who's currently and get our is remarket we been us audio generally you, what best as saying bundles. those the leader, retailers And on initial these better, co-sponsored right a Platin like There's an a there's able ads, joint to So company an killer products our which and go soundbar. more but before. the audio, the think on a a for tell seen for expand the to then remarket we've that. who's to their it's I on of of wave running both consumer Onclaypro. You've that financially those geography, we'll or with of to and as of But had good, important director years. to the from aggressively Bailey one between that got consumer demographics, said are sure this spending

to really soundbar audio All money. going great soundbars what That's home those we'll we there's that for SAM year. the go market and WiSAcertified and X% converted market. get We million of getting announcing than a us next midstream concrete $XXX run hundreds theater and sold soundbars. This cell Gen can year into team, market our can year. we smart technology, soundbars a a But value million investors. are XX and deliver of So has this applicable and are of revenue. TVs worldwide. is system against our larger to experiences we getting tablets. We entry-level of is it of right. directly think about not the to revenue vastly for we market It next close speakers and millions current out those X, to briefly, Anybody to XX phones next math, drive covers think, solution would be level, customers million generation right. think that and very the smart around, think but All

looking are launch about year. forward excited we're So where to next and technically we a

have you launch, that in been the about that. X I them supporting Steve. but these are and upfront at early that done there, So call, the guys talked got Eric

those technology, for make great combine think it existing over to the now investments launch. our financial turn starting to to I'd we're George our you And a team review. we significant So for with like Summit and and

George Oliva

Thank you, Brett.

an was points quarter for That's $X.X quarter. in exceeded the Gross XXXX. So QX to XX same revenue points. up QX XXXX. over nearly XXX% million margin increase It's XXXX compared the of in XX

of million, The chain. for guidance stock $XXX,XXX $X.X expenses, $X.X in information where and recent X.X an to in a that of of noncash the $XXX,XXX net that PPP redesign loan increase rescheduling that of primarily year, was to are respect continues loss $X.X supply million. approximately very was of QX nearly out to for of for due who problematic relating between $XXX,XXX been had approximately million, the including have XXX% expense million is amount modules be we That compared compensation OpEx a Our loss for year. The XXXX. year. guidance $X the prior compared which $X.X we customers small forgiveness were the reflects of to and the to the received of million rest That the to depreciation. That expenses the included was and QX we moved to down of compared that delivery XXXX, in the XXXX. that adjusted their quarter components the to of benefit in -- With the $XXX,XXX noncash reason

the gross reflects $X.X charges. continues slightly That between the and OpEx, So to represents to to margin for Brett million the year The have.I'll XX $XX.X for successful XXXX year. finish Brett. expected the and brought of continues That in and points. Cash at anticipated a was $XX be I quarter that we've launch end to believe equivalents launch. targeting that give strong. XX million we the the million, you, million. noncash future that of team and to sheet spending. next-generation that's $XXX,XXX balance technology. a The mentioned, HDMI increase be year that we're the engineering for the capitalized members And balance relating attributable help the reason of in And for year. all to marketing ensure strategic as the well is back revised We're to to we $XX.X entire cash very for

Brett Moyer

Thank right. you, George. All

So really immerse industry adoption the and spatial focus increasing in strong It's coming think we is around think some to We've around the partners. wrap market. got over it space. with marketing from on we're leaders up audio, WiSA are we about our that when large at, a we where and around

to be could call, the at operator, Q&A, hang. test the I'm without $XXX seasons take in Audio technology we'll an a use without -- we out WiSA in. Before that, let the it you're call that everybody with wouldn't going know, Platin to and investment making letting you up open take And holiday this slide but

the gets everybody message. So

Operator

you. Thank

a with session. now Vander is Instructions] Our Group. question-and-answer Aarde question Maxim will conducting We from [Operator be first Jack

Jack Vander Aarde

for with you, quarterly question Appreciate update. the the I'll start Brett.

impact impacting shortage industry. just that of no is now, supply much obviously, secret, because this outlook for this on regarding in companies nonetheless. it's is -- revenue interesting it So an the having year every It's but your global not it's

have -- So mean What particular customers there that a these would replacing for Just components any component other Is redesigning substituting at whatever customers just rescheduling in shortage? curious, they're helpful. was just redesign does suffice when date. you are product that altogether? you any there? Or insight certain that your exactly? that entire components products or say Are insight they're where or do there later the be flexible it an

Brett Moyer

right? XX take -- or if design, substantial another XX take not times, -- speaker if redesigning you cabinet maybe lead week lead say, one example, has processor change. you times and you're just there not you but It's week XX a whole Yes. a a week the drivers But an got times, in DSP and have that there's that's speaker, and lead

look it should the other exactly time the take So same be it that it will a than hardware speaker. -- But will to will retune consumer, component, the one be to the perspective, from it probably same.

Jack Vander Aarde

impact is your based that were -- it, imply said, of XX,XXX, system that revenue of, an ASPs? sold be that Okay. units this estimated would XX,XXX year, does $XXX,XXX, you your as kind And call George expecting units, on then roughly module before just on

Brett Moyer

Yes, using or it XX,XXX would what apply. modules, that's $XX, take. give

Jack Vander Aarde

tight And range, almost. then the pretty year pretty up. with your a whatnot. halfway have we're me it a I'm quarter the this and to for you which of of the In holiday orders range is now, how it's the strong given especially shelves already lot suggests through kind sure -- stock revenue placed at to for much, been coming visibility have point, season the

point? you year for visibility expect first next the any also, of your just the chain? signs you can half this what levels talk And supply maybe of then So given at about

Brett Moyer

delivery just But visibility adjustments we are the right? any people's orders Well, orders PO in until case dates, have we to of the made parts the books, have of to on aware to the through on indicate the don't to, other as other with right? other problems not We that on books. visibility they we're adjustments adjustment

plus on look Platin the around holiday estimate gave So be the that sales will that's of audio. you, books, we at when orders an we for guidance QX what

Jack Vander Aarde

Got you.

to question is, then logo storefronts -- new I me great well these maybe it's all just and a being being it's from It's Stones Rolling and very see by Okay. being And good like WiSA great so received last for broadcasting the pretty imagine customers. getting Obviously now. attention reviews. getting

I does from what mean last do? X With X the stores, storefronts online new that's this incremental last retail from just storefronts X retail just steer quarter. year,

revenue but Do for or more of it view? have economic the -- this does have going momentum your all you it, do -- to what store I all just How are sales Just aspirations of it's all that are in for you marrier? imagine least fronts? an momentum at you these retail are your X high your is do are -- viewing Or the them? you from accelerate standpoint?

Brett Moyer

our Well, not X year, COVID. the in mind QX, right? last just in and to think category So very right? hard point, WiSA from that do we are than the building is It's to storefronts consumer's e-tailers these the fundamental look, during more mind, this

Amazon I We they brand. e-tailers, be a one probably don't LG a to listed wanted. working think and others, that So over there have half at WiSA know why the we has and do But Wave you control Samsung what of of as X we've now as those That's we invaluable. been have if up promoted you where the that's on -- some the with brand we since initiative. Tier look we could control non-Amazon

it year, customers our year's for year, revenue revenue but their sets shortages, think a certainly the WiSA it critical next how lot the for increases as revenue. really for over as revenue this next soon think up they get marketing some right? part I drives I brands drives of

Jack Vander Aarde

that And my you. Got said last I was question.

Just one more.

WiSA you're X I shipping or shipping think with there brands are brands XXXX, products. in products X WISA

believe, for just to a similar? Has curious Is there. You're I have ship number on -- many to XXXX? you for or you and changed? over maybe shipping waste it in track XX that directionally, Do with XXXX, brands be WiSA products. expect ship brands expectation how Just

Brett Moyer

always What we're think more will adding we the well, brands, we I always also, brands. are but -- designs with -- existing adding

next I think year. So both impact

Jack Vander Aarde

increase both each to of think it the in brand? systems of and are likely you do number So sounds brands from terms

Brett Moyer

Yes.

Jack Vander Aarde

Excellent.

hop Great. the appreciate I the back queue. update. in Okay. I'll

Operator

with comes next question Our from Kevin Dede HCW.

Kevin Dede

brands So bit done just I the the to was give designs. But to could your back and guys, -- me, I without are products, year of audio, brands, peel last adoption, but mean, where little And I brands both you wanted a mean products. thus far. I it's today? pretty and specific just about we onion Granted, Could us comparison, we've Jack imagine going. you've them on you more mean, right? and where you remarkably TV you mentioned sort got year-end HDMI

hoping those I dial just for could you on was numbers So us? in

Brett Moyer

HDMI you're Well, first We there's you're cycle. then about year right? -- a half. technology, So design about next whole anticipating the next-generation guys, announcing so talking the talking when in that are we but

is hear time designs design add projects versus -- more what So what to think. So launch next-generation in a designs going they're the brand to about, technology both bigger to this us right? will a and you're we market, likely vastly say, year because that's within next is talk

compared to year? ask you did -- for last comparison As to

Kevin Dede

marking are I in progress. Yes. just just -- your

the quarter, that's got last impressive. stores just since You

year-over-year, visual and both If have you? of brands front where are the and on products curious Just in you with side side? audio that the you

Brett Moyer

TV B&O. so side, -- was the there Well, Yes. and LG the look, on

with a one So Xth it's announced to X coming. X

those list. is from XXX%. the or right, shipping my this because we're years, But the side, On I you X off year. my a that would showing on head challenge this for seen guess, up I side, top brands I've speaker the totally is active the of it's are speaker launching mean, brands

Kevin Dede

products, or Brands Brett?

Brett Moyer

Brands.

Kevin Dede

Okay.

now multiple? what because each themselves, brand right, So the products about has

Brett Moyer

my head off I top go that when don't year-over-year. the of you know

Kevin Dede

eight. All

Okay.

started -- you ago, about So your had But press initial your off response your gentlemen, but I HDMI, with executive X that -- okay. this regarding -- I mean, month guess, team. a press right,

have? still you do So

Brett Moyer

and a Isaac, either And chips primarily the from in a The Roger to perspective third technical on this one still us. standard launch Steve is Eric competitive writing. on he deep is dive him brought reference We the available to do with WiFi help But from and competitors. is available research the perspective, marketing Group. pipeline and he's or for from a

Kevin Dede

really that kick months. for XX Okay. in you're to And not again, expecting another

way to look the that's at think it? I

Brett Moyer

Yes.

Kevin Dede

Okay.

Brett Moyer

But year. we'll announce more next

Kevin Dede

the you how course, components just of more is you shipping of little in module and spoke big side, sort is given not general having? sort that, getting this Then, versus of one module Brett, but impact to a issues. what And stuff bit se? a logistics consumers year? per that's to wondering think on for particular I'm Just that

Brett Moyer

Yes.

our just supplying It modules, be On fully are let's we able, side, all has been So clear. right? year.

From an the perspective, I tight managed shortages with broader will our suppliers. we've industry at find consumers supplies think if you're Christmas. asking a perspective, So

at do Monaco, for supply when in just much the promotional Cyber we some perspective, Platin but audio Friday, around as more period, we So line, the brief Thanksgiving, time will unlikely product. to on coming a from do on line Black around we at Monday the look Milan Milan look

WiSA season. this the will able get $XXX, the to Monaco So on that you'll best be deal Christmas be during

Kevin Dede

Okay. know. Yes. to Good

Brett Moyer

be a all talked shortages to mean about be it. few -- Sonos there'll has about But I have talked going it's I I mean, quite brands. think for it,

We not the because pipeline internationally I launched have launch. the to strong U.S. have are in inventory can't get brands that

Kevin Dede

right. All

that straightening out? see then do So is, itself next question how the you

Brett Moyer

Well, question. that's a million-dollar

George Oliva

$XX,XXX, XX,XXX. no, just just No,

Brett Moyer

pretty Well, issue. a multifaceted it's

shipping railcars, Christmas, rebalance post influx urgency of which et containers, of companies the trucks, and helps will cetera. ebb, the the influx the think I products

production? problems, going there. little need at drive back they other case from a -- Is get to a I be the need Or to will chase perspective, that's consumer events are, there's spend you or opinions like to back in to think bit out the continue off going bit. two And are to brand there demand logistics solve continue consumer the to little which to Christmas. a off the consumer that to out

Kevin Dede

Okay.

Brett Moyer

we the we we Platin just lead perspective, that month a XX But I give us had a ODM you wanted line an know, mean, tell times. week around to on ago,

Kevin Dede

XX week lead times.

Brett Moyer

XX week times. is lead tight That's how it today. But...

Kevin Dede

Was end module product manufacturer that manufacturer? for or

Brett Moyer

for was that No, Platin.

that So system -- was system. speaker

Kevin Dede

an Yes, ODM, right?

Brett Moyer

Yes. Yes.

Kevin Dede

CES? okay. talk bit Can you Wow, doing at on little you a plan what about

Brett Moyer

Yes.

the So year, WiSA in next to the Suites been has will Embassy traditionally Hall. we had show, in the booth, have South into This the niche. suites at X

in We We -- that Asia. the be had doubtful will summer, the large coming was officially back decision to because largely make not of show. the a that CES there'd highly it did to when contingency you out be in the

still to being have a right? contingency lot WiSA to the being inside on and us money can value coming, that's but the you've as -- I expansion show. to waves those the management, example, to have through And think company, pretty And I brand, the wave continue of believe, WiSA And you've don't if have trade product a engineers. got I it's going got would the for CES back people. a us from of spending small you've got management, was so for might to drive We versus that, visitors smarter, X able the category you true. take You reentry is a different see Asia Sony. hard of

in suites only for NDA a have visitors. those demo will next-generation We

Kevin Dede

the -- you mean X that's you Gen Would what demo, Okay. you're..

Brett Moyer

Correct. Correct.

Kevin Dede

is you there advantages can -- speak just a to you none? here bit Can to little slim potential given NDA Okay. the

Brett Moyer

-- -- gigahertz will So I price. think if X, about think you already first X a lower be substantial first versus Gen product the X the substantially Gen

will there the the said softening, will be we've main brands. Dolby performance some within be performance softening that of, As say, but requirements and

Kevin Dede

Well, other is if or that more? one that advantages, get X channels of me I'm correct too, you out of I the thought wrong,

Brett Moyer

got We've product, panels We've the not right? And have now. Kevin. X got channels we X launched now,

conversation down to we're launch going not to really until we're further much product. ready this So the go

Kevin Dede

Message enough. you Fair much, Thank sir. understood. very

Operator

Our Capital. next question Ed from Ascendiant with is Woo

Edward Woo

shortages Yes. Congratulations on pretty chip managing the well.

You be haven't know guys this impacted will next visibility said enough if you year. have really year continue been into you to affected you shortages the guys chip XXXX? Do if

Brett Moyer

managed Well, You until shortages we has we just -- capped actually, right? it the it have didn't -- we've I growth you, right? revenue given think, this our if but we by this have been look, not We that brought would be been see terms clear. our call all affected in would different. So of expectations, let's so been, because guidance there numbers shortages, year, certainly didn't significantly have part

challenge my then In into see my us terms is hard should available we customers. out a parts problems, and customers, the me parts, very and of redesigning parts fact next their become some year, But for of not the couple chain of out for the supply me, other that challenge know it's problem known is is to problems. their volume drops those optimistic for because that those means

Edward Woo

an either places raise there. possibly to margins? to lower to another inflation going take it having is then in prices issue And out we're been Has beginning lot or question, And impact see Great. of various a you? for inflation

Brett Moyer

it It is been, be. and has will it

to increase trying X. did brutal products, additional price we So in be There's transitory product on Platin versus prices to that. it September on the hard QX. on price changes so pretty changes line, We're permanent, sort what's the likely audio through

new there QX, So in, as adjustments. inventory the be will in point price comes

Edward Woo

already that's Great. incorporated inflation And for margins you've XX%, seen? gross already that of this to quarter guidance XX% of the

Brett Moyer

Yes.

Edward Woo

you the about from it giving see expect to when is, for question participation announce to last for long X on the talking my the us when Then lead and Great. a thanks time Gen shelves? next consumers can is year. How products

Brett Moyer

Part generation. Platin So have reason here's line that. launched what of next an adopter that early the of is say so I'll we would we about the

hands. next-generation expect launch months. sales and using say, that consumers' order you'll that Kevin tell in right, you the And would to within the of Because helps $XXX. just advantage around thank the the see it sorry, cycle, customers a prospective I just announce and time to or saw we Platin WiSA I line it, for that be through. X order this product when I'm that able So X lines the product, it, technology is taking let's Dede, come

So company, you'll a probably it's first. for normal XX design cycle, that's right. what a months, big see From

Edward Woo

Thanks have wish luck. guys holiday a I you. you good Great. question. and you answering Thank for guys wish that great

Operator

Elbaum Marty Our Networks. next question comes from Horizon with

Marty Elbaum

Congratulations, Brett team. and your

supporting I of the your what exciting. unfortunate that is community company It's guys doing. about know a doesn't company the think very financial or lot really you are

have, issues problems some the good the very money, When if have, give become us this, this because maybe you of you keep I when clarity situation. I of that's a see you happening? that losing can one profitable? company important not that And One do will on

can and profitable? we a turnaround staring see when the company So

Brett Moyer

one profitability of is valuation. So component

The Platin now WiSA other XX the of opportunity, whole that the months, to business if would said So the category about well, in the for we think sales the ecosystem. have is margin consistently the value you generated used wave WiSA right? component through from next drive be

up, look you you if P&L, our gross gone OpEx at see but so has our why that's So has margin.

will to late going so -- generation roughly mid-Xs, next-generation to still a So continued on our the that's use stayed right? margin our drive that technology. category Yes. investment probably the burn in on that technology From the We're year. current has until next require

in be a be P&L. X establishing we've a into second-generation is the announcing we that ecosystem going much in Marty. WiSA the perspective, value of cost That be at I our are The from been technology by first. years. to lower built market to a the much think going That's first valuation bump So broader last a will regardless company the and

see positively impacted. in, design Following that, you'll P&L wins as the come

Marty Elbaum

Okay. that a $XXX X Clarify the conference say or I was do before could this, you you. misheard you out million? that maybe Did misunderstood Or generation earlier number threw call? in

Brett Moyer

in -- talked There's Earlier what it. product, screen the back now, about that million & got revenue converted audio, Bang enclave That or XX or generation million soundbars. call, audio for If the conference X% us. current for would was And right? of Harman audio the which Platin gone on Klipsch or I've about our is into to we SAM drive about those Olufsen or right? $XXX was

is to think think where technology today So the of revenue technology the revenue of projections, next-generation given think the next several the $X.X over market. legs years. drive think we has a for we But -- are we generation, massive current million -- not we there's us lot at a we just of current

Marty Elbaum

That would be unbelievable.

You would million company That $XXX unbelievable. get very be would be profitable.

story. You story label have -- a

Brett Moyer

not you now, get yes, industry next-generation X short next that's we're convert and WiSA that the the And in we'll established grab there a an away but immersive and to to even category. term. But chip with market people to going years that market years it the now, from we're market, going first talk next half, have be about bigger year, X from an then but will year sound. soundbar Yes, technology bigger

Marty Elbaum

the I right direction. think of it's brand very WiSA certainly, you're exciting think company. doing But you're what the takes it with an building in and structure going I And investment. the

for I a we're the supporting. I and a company think we work a And I And you, bright And think great future, doing great very lot. think future building the Keep about. which elected you're up the looks job. we're for congratulations. you're and excited

Brett Moyer

the support. appreciate Thank We you.

Operator

this further like There time. back Instructions]. the Moyer no I'd are comments. at over for floor to Brett questions to any closing [Operator turn

Brett Moyer

into Certainly, a like exciting you wave WiSA for if other both next have to for I'm new customers' of and time the for marketing our moving available questions. products the launch. us, everybody discussion Yes, It's for participating. I'd year through year thank and technology an Q&A

on remind and with Milan's right. so WiSA number jump save could the buy Milan that the audio. Monaco sounds on you of Platin So $XXX the great. over there. the I'd Thank uses, limited in a I And All It's cudar, personally, got will people, use you.

Operator

This conference. concludes today's

You disconnect may this you time. your at for participation. lines your Thank

WiSA (WISA) 11 Nov 212021 Q3 Earnings call transcript