WiSA Technologies, Inc. ( WISA ) shares are trading higher on Wednesday.

The firm reported preliminary third-quarter revenue of $1.0 million to $1.2 million (consensus $0.65 million), driven by WiSA ( WISA ) multichannel wireless audio technology sales.

“In Q3 2024, we expect WiSA ( WISA ) to deliver over 200% sequential revenue growth, driven by both WiSA HT and our new WiSA E IP being in production with a multi-national licensee,” said Brett Moyer, CEO of WiSA Technologies ( WISA ).

The CEO mentioned that one of the five current WiSA E licensees has integrated their WiSA E software into its source device and module in its speakers.

Moyer noted that activating the WiSA E transmit functionality triggers royalty payments and generates revenue from sales of WiSA E-enabled receiver modules using a Realtek Wi-Fi chip.

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The CEO expressed optimism about building momentum with continued shipments to this customer, with additional deployments expected in 2025.

The company stated that it has secured five WiSA E licensing agreements and aims to reach eight by the end of 2024. In fact, WiSA ( WISA ) has successfully licensed a substantial portion of Android-based HDTVs and is actively developing an ecosystem of WiSA E-enabled speaker systems.

The company confirmed that it is well-positioned to enter multiple end markets through top-tier licensing partners, leading the industry in expanding premium audio experiences and fostering a connected ecosystem that enhances how users enjoy sound across devices.

Price Action: WISA ( WISA ) shares are trading higher by 4.15% to $1.802 at last check Wednesday.

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