WiSA Technologies Targets Strategic Milestones Amid Cost-Cutting Measures
Portfolio Pulse from Benzinga Newsdesk
WiSA Technologies, Inc. (NASDAQ:WISA) provided a business update focusing on achieving key milestones and reducing total SG&A expenses leading into 2024. The company has begun shipping WiSA E development kits to strategic customers and rolled out a licensing plan for WiSA E software. WiSA is also initiating expense reductions in SG&A that will lower cash expenses, with savings expected to be about $0.9 million in Q1 2024 and about $4 million total in 2024.
October 03, 2023 | 10:18 am
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WiSA Technologies is focusing on strategic milestones and cost-cutting measures. The company is shipping WiSA E development kits and has rolled out a licensing plan. It is also initiating expense reductions in SG&A that will lower cash expenses, with savings expected to be about $0.9 million in Q1 2024 and about $4 million total in 2024.
The company's focus on achieving strategic milestones and reducing expenses could potentially lead to improved financial performance, which could positively impact the stock price. The rollout of the WiSA E software licensing plan and the shipping of WiSA E development kits to strategic customers could potentially increase revenue streams, which could also positively impact the stock price.
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