Income Statement WiSA Technologies, Inc.

Equities

WISA

US86633R6099

Semiconductors

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09-04	Transcript : Data Vault Holding, Inc., WiSA Technologies, Inc. - M&A Call

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Published financial data: WISA TECHNOLOGIES, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	1.67M	2.4M	6.54M	3.36M	2.08M
Total Revenues	1.67M	2.4M	6.54M	3.36M	2.08M
Cost of Goods Sold, Total	1.74M	1.98M	4.68M	2.97M	5.54M
Gross Profit	-71K	427K	1.86M	395K	-3.46M
Selling General & Admin Expenses, Total	5.66M	7.14M	8.14M	11.3M	10.54M
Stock-Based Compensation (IS)	892K	-	-	-	-
R&D Expenses	5.43M	4.57M	5.24M	7.14M	7.46M
Other Operating Expenses, Total	11.98M	11.71M	13.38M	18.44M	18M
Operating Income	-12.05M	-11.29M	-11.51M	-18.04M	-21.46M
Interest Expense, Total	-	-1.4M	-9K	-898K	-932K
Net Interest Expenses	-	-1.4M	-9K	-898K	-932K
Other Non Operating Income (Expenses)	23K	-18K	-1.16M	2.79M	4.51M
EBT, Excl. Unusual Items	-12.03M	-12.7M	-12.68M	-16.15M	-17.88M
Other Unusual Items	-	-	859K	-	-837K
EBT, Incl. Unusual Items	-12.03M	-12.7M	-11.82M	-16.15M	-18.72M
Income Tax Expense	8K	3K	2K	2K	4K
Earnings From Continuing Operations	-12.04M	-12.7M	-11.82M	-16.15M	-18.72M
Net Income to Company	-12.04M	-12.7M	-11.82M	-16.15M	-18.72M
Net Income - (IS)	-12.04M	-12.7M	-11.82M	-16.15M	-18.72M
Preferred Dividend and Other Adjustments	56K	214K	1.23M	-	6.36M
Net Income to Common Incl Extra Items	-12.09M	-12.92M	-13.05M	-16.15M	-25.08M
Net Income to Common Excl. Extra Items	-12.09M	-12.92M	-13.05M	-16.15M	-25.08M
Per Share Items
Net EPS - Basic	-	-	-	-	-476.31
Basic EPS - Continuing Operations	-	-	-	-	-476.31
Basic Weighted Average Shares Outstanding	-	-	-	-	52.66K
Net EPS - Diluted	-	-	-	-	-476.31
Diluted EPS - Continuing Operations	-	-	-	-	-476.31
Diluted Weighted Average Shares Outstanding	-	-	-	-	52.66K
Normalized Basic EPS	-	-	-	-	-212.22
Normalized Diluted EPS	-	-	-	-	-212.22
Supplemental Items
EBITDA	-11.96M	-11.19M	-11.43M	-17.92M	-21.36M
EBITA	-12.02M	-11.26M	-11.51M	-18.04M	-21.46M
EBIT	-12.05M	-11.29M	-11.51M	-18.04M	-21.46M
EBITDAR	-11.58M	-10.86M	-11.2M	-17.78M	-21.15M
Effective Tax Rate - (Ratio)	-0.07	-0.02	-0.02	-0.01	-0.02
Current Domestic Taxes	8K	3K	2K	2K	4K
Total Current Taxes	8K	3K	2K	2K	4K
Normalized Net Income	-7.52M	-7.94M	-7.92M	-10.09M	-11.18M
Interest on Long-Term Debt	-	-	-	-	-
Supplemental Operating Expense Items
Advertising Expense	30K	334K	688K	1.44M	878K
Selling and Marketing Expenses	2.83M	2.97M	4.12M	6.14M	5.18M
General and Administrative Expenses	2.83M	4.17M	4.02M	5.16M	5.37M
Research And Development Expense From Footnotes	5.43M	4.57M	5.24M	7.14M	7.46M
Net Rental Expense, Total	378K	332K	236K	143K	210K
Imputed Operating Lease Interest Expense	-	-	36.74K	-	2.41M
Imputed Operating Lease Depreciation	-	-	199K	-	-2.2M
Stock-Based Comp., COGS (Total)	-	-	-	-	-
Stock-Based Comp., R&D Exp. (Total)	-	-	-	-	-
Stock-Based Comp., S&M Exp. (Total)	-	-	-	-	-
Stock-Based Comp., G&A Exp. (Total)	-	-	-	-	-
Stock-Based Comp., Other (Total)	1.42M	1.88M	1.42M	2.03M	2.06M
Total Stock-Based Compensation	1.42M	1.88M	1.42M	2.03M	2.06M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	298K	7.42M	13.11M	2.9M	411K
Total Cash And Short Term Investments	298K	7.42M	13.11M	2.9M	411K
Accounts Receivable, Total	108K	85K	214K	273K	294K
Total Receivables	108K	85K	214K	273K	294K
Inventory	2.67M	2.71M	4.78M	7.07M	2.74M
Prepaid Expenses	932K	908K	1M	684K	641K
Other Current Assets, Total	12K	-	83K	206K	-
Total Current Assets	4.02M	11.12M	19.19M	11.13M	4.08M
Gross Property Plant And Equipment	897K	1.02M	1.12M	949K	1.37M
Accumulated Depreciation	-813K	-879K	-958K	-655K	-659K
Net Property Plant And Equipment	84K	142K	162K	294K	709K
Other Intangibles, Total	28K	0	-	-	-
Other Long-Term Assets, Total	94K	41K	41K	28K	31K
Total Assets	4.22M	11.3M	19.39M	11.45M	4.82M
Liabilities
Accounts Payable, Total	1.55M	672K	1.55M	2.04M	2.32M
Accrued Expenses, Total	695K	1.04M	1.39M	1.42M	1.3M
Short-term Borrowings	-	-	-	-	-
Current Portion of Long-Term Debt	-	179K	-	-	-
Current Portion of Leases	-	23K	24K	169K	-
Unearned Revenue Current, Total	-	373K	-	44K	19K
Other Current Liabilities	451K	-	-	-	-
Total Current Liabilities	2.7M	2.28M	2.96M	3.67M	3.64M
Long-Term Debt	-	668K	-	457K	-
Long-Term Leases	-	39K	15K	39K	636K
Other Non Current Liabilities	411K	395K	34K	9.28M	5.46M
Total Liabilities	3.11M	3.39M	3.01M	13.45M	9.73M
Preferred Stock Redeemable	-	-	-	-	247K
Preferred Stock Non Redeemable	-	-	-	-	-
Preferred Stock Convertible	517K	597K	-	-	-
Total Preferred Equity	517K	597K	-	-	247K
Common Stock, Total	2K	1K	2K	7K	7K
Additional Paid In Capital	188M	208M	229M	226M	242M
Retained Earnings	-188M	-200M	-212M	-228M	-247M
Comprehensive Income and Other	-48K	-	-	-	-
Total Common Equity	594K	7.32M	16.38M	-2M	-5.16M
Total Equity	1.11M	7.91M	16.38M	-2M	-4.91M
Total Liabilities And Equity	4.22M	11.3M	19.39M	11.45M	4.82M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	-	-	-	13.12K	1.67M
ECS Total Common Shares Outstanding	-	-	-	-	222K
Book Value / Share	-	-	-	-	-23.19
Tangible Book Value	566K	7.32M	16.38M	-2M	-5.16M
Tangible Book Value Per Share	-	-	-	-	-23.19
Total Debt	0	909K	39K	665K	636K
Net Debt	-298K	-6.51M	-13.07M	-2.23M	225K
Debt Equivalent Oper. Leases	3.02M	2.66M	1.89M	1.14M	1.68M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	-	1.87M	2.06M	3.04M	621K
Inventories - Work In Process, Total	301K	283K	1.4M	13K	-
Inventories - Finished Goods, Total	2.36M	553K	1.32M	4.01M	2.12M
Machinery, Total	797K	892K	991K	630K	680K
Full Time Employees	38	39	46	49	40
Part Time Employees	7	1	-	-	6

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	-12.04M	-12.7M	-11.82M	-16.15M	-18.72M
Depreciation & Amortization - CF	58K	66K	79K	122K	98K
Amortization of Goodwill and Intangible Assets - (CF)	33K	28K	-	-	-
Depreciation & Amortization, Total	91K	94K	79K	122K	98K
Amortization of Deferred Charges, Total - (CF)	-	1.39M	-	879K	850K
(Gain) Loss From Sale Of Asset	2K	-	-	-	-
Asset Writedown & Restructuring Costs	-	48K	-	-	-
Stock-Based Compensation (CF)	1.42M	1.88M	1.42M	2.03M	2.06M
Other Operating Activities, Total	-33K	-16K	287K	-2.8M	-3.67M
Change In Accounts Receivable	4K	23K	-129K	-59K	-21K
Change In Inventories	-1.28M	-42K	-2.07M	-2.29M	4.33M
Change In Accounts Payable	1.02M	-882K	877K	493K	278K
Change in Other Net Operating Assets	-216K	352K	-152K	270K	-28K
Cash from Operations	-11.03M	-9.86M	-11.51M	-17.51M	-14.83M
Capital Expenditure	-35K	-52K	-99K	-43K	-50K
Sale of Property, Plant, and Equipment	1K	-	-	-	-
Sale (Purchase) of Intangible assets	-	-	-	-	-
Cash from Investing	-34K	-52K	-99K	-43K	-50K
Short Term Debt Issued, Total	-	847K	-	-	597K
Long-Term Debt Issued, Total	-	1.4M	-	2.46M	-
Total Debt Issued	-	2.24M	-	2.46M	597K
Short Term Debt Repaid, Total	-	-	-	-	-700K
Long-Term Debt Repaid, Total	-	-2.16M	-29K	-1.54M	-1.67M
Total Debt Repaid	-	-2.16M	-29K	-1.54M	-2.37M
Issuance of Common Stock	6.15M	16.94M	17.33M	6.42M	12.53M
Repurchase of Common Stock	-87K	-	-	-	-2.32M
Issuance of Preferred Stock	920K	-	-	-	-
Other Financing Activities, Total	1.17M	-	-	-	3.96M
Cash from Financing	8.15M	17.03M	17.3M	7.35M	12.39M
Foreign Exchange Rate Adjustments	-3K	-	-	-	-
Net Change in Cash	-2.92M	7.12M	5.69M	-10.21M	-2.49M
Supplemental Items
Cash Interest Paid	-	352K	3K	19K	256K
Cash Income Tax Paid (Refund)	8K	3K	2K	2K	4K
Levered Free Cash Flow	-6.53M	-5.22M	-7.34M	-10.47M	-6.34M
Unlevered Free Cash Flow	-6.53M	-5.73M	-7.34M	-10.78M	-6.61M
Change In Net Working Capital	473K	601K	1.54M	1.61M	-4.69M
Net Debt Issued / Repaid	-	83K	-29K	928K	-1.78M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	-156.48	-90.9	-46.88	-73.13	-164.8
Return on Total Capital	-305.67	-142.04	-57.06	-149.91	478.52
Return On Equity %	-488.46	-281.58	-97.32	-224.62	542.17
Return on Common Equity	-548.23	-326.65	-110.13	-224.62	701.27
Margin Analysis
Gross Profit Margin %	-4.26	17.76	28.5	11.74	-165.96
SG&A Margin	339.92	297.09	124.43	335.66	506.19
EBITDA Margin %	-718.01	-465.6	-174.77	-532.6	-1.03K
EBITA Margin %	-721.49	-468.34	-175.98	-536.23	-1.03K
EBIT Margin %	-723.47	-469.51	-175.98	-536.23	-1.03K
Income From Continuing Operations Margin %	-722.57	-528.49	-180.71	-479.97	-898.75
Net Income Margin %	-722.57	-528.49	-180.71	-479.97	-898.75
Net Avail. For Common Margin %	-725.93	-537.4	-199.45	-479.97	-1.2K
Normalized Net Income Margin	-451.31	-330.23	-121.13	-299.94	-536.49
Levered Free Cash Flow Margin	-392.02	-217.03	-112.23	-311.05	-304.57
Unlevered Free Cash Flow Margin	-392.02	-238.49	-112.14	-320.49	-317.41
Asset Turnover
Asset Turnover	0.35	0.31	0.43	0.22	0.26
Fixed Assets Turnover	17.18	21.27	43.03	14.76	4.15
Receivables Turnover (Average Receivables)	15.15	24.91	43.75	13.82	7.35
Inventory Turnover (Average Inventory)	0.86	0.74	1.25	0.5	1.13
Short Term Liquidity
Current Ratio	1.49	4.87	6.47	3.03	1.12
Quick Ratio	0.15	3.28	4.49	0.86	0.19
Operating Cash Flow to Current Liabilities	-4.09	-4.32	-3.88	-4.77	-4.08
Days Sales Outstanding (Average Receivables)	24.1	14.69	8.34	26.41	49.68
Days Outstanding Inventory (Average Inventory)	425.41	497.44	292.19	728.16	323.06
Average Days Payable Outstanding	126.06	201.76	60.06	124.59	659.54
Cash Conversion Cycle (Average Days)	323.45	310.37	240.47	629.98	-286.8
Long Term Solvency
Total Debt/Equity	-	11.49	0.24	-33.32	-12.95
Total Debt / Total Capital	-	10.3	0.24	-49.96	-14.88
LT Debt/Equity	-	8.93	0.09	-24.85	-12.95
Long-Term Debt / Total Capital	-	8.01	0.09	-37.27	-14.88
Total Liabilities / Total Assets	73.69	29.97	15.54	117.43	201.8
EBIT / Interest Expense	-	-8.08	-1.28K	-20.09	-23.02
EBITDA / Interest Expense	-	-8.01	-1.27K	-19.8	-22.69
(EBITDA - Capex) / Interest Expense	-	-8.05	-1.28K	-19.85	-22.75
Total Debt / EBITDA	-	-0.08	-0	-0.04	-0.03
Net Debt / EBITDA	0.02	0.58	1.14	0.13	-0.01
Total Debt / (EBITDA - Capex)	-	-0.08	-0	-0.04	-0.03
Net Debt / (EBITDA - Capex)	0.02	0.58	1.13	0.13	-0.01
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	21.25	44.3	172.09	-48.56	-38.1
Gross Profit, 1 Yr. Growth %	-70.17	-701.41	336.53	-78.81	-975.19
EBITDA, 1 Yr. Growth %	4.05	-6.43	1.88	56.77	19.18
EBITA, 1 Yr. Growth %	4.18	-6.33	1.98	56.75	18.91
EBIT, 1 Yr. Growth %	4.17	-6.36	1.98	56.75	18.91
Earnings From Cont. Operations, 1 Yr. Growth %	-82.13	5.54	-6.97	36.64	15.91
Net Income, 1 Yr. Growth %	-82.13	5.54	-6.97	36.64	15.91
Normalized Net Income, 1 Yr. Growth %	-82.14	5.59	-0.2	27.39	10.72
Accounts Receivable, 1 Yr. Growth %	-3.57	-21.3	151.76	27.57	7.69
Inventory, 1 Yr. Growth %	92.77	1.58	76.51	47.91	-61.29
Net Property, Plant and Equip., 1 Yr. Growth %