WISA TECHNOLOGIES INC
For the period ended Sep 30, 2024. Filed Nov 14, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 14, 2024
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Condensed Consolidated Statements of Operations
For the three and nine months ended September 30, 2024 and 2023
| | | | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| · · Three Months Ended September 30, · · Nine Months Ended September 30, | ||||||||||||
| | 2024 | 2023 | 2024 | 2023 | ||||||||
| | | | | | | | | | | | | |
| Revenue, net | | $1,172 | $769 | | $1,772 | $1,663 | ||||||
| Cost of revenue | | 946 | 2,438 | | 1,618 | 4,786 | ||||||
| Gross profit (deficit) | | 226 | (1,669) | | 154 | (3,123) | ||||||
| Operating Expenses: | | | | | | | ||||||
| Research and development | | 2,225 | 1,838 | | 5,729 | 5,664 | ||||||
| Sales and marketing | | 983 | 1,404 | | 2,777 | 3,787 | ||||||
| General and administrative | | 2,261 | 1,428 | | 6,454 | 4,260 | ||||||
| Total operating expenses | | 5,469 | 4,670 | | 14,960 | 13,711 | ||||||
| Loss from operations | | (5,243) | (6,339) | | (14,806) | (16,834) | ||||||
| | | | | | | | | | | | | |
| Interest income (expense), net | | 9 | (52) | | (1,260) | (812) | ||||||
| Decrease (increase) in fair value of warrant liabilities | | 6 | 284 | | (29,120) | 6,134 | ||||||
| Loss on debt extinguishment | | | — | | | — | | | — | | | (837) |
| Other income (expense), net | | 136 | (4) | | 136 | (7) | ||||||
| Loss before provision for income taxes | | (5,092) | (6,111) | | (45,050) | (12,356) | ||||||
| Provision for income taxes | | — | — | | — | 2 | ||||||
| Net loss | | | (5,092) | | (6,111) | | | (45,050) | | (12,358) | ||
| Deemed dividend on conversion of Series B preferred for common stock and repurchase of Series B preferred stock | | | — | | | — | | | (5,842) | | | — |
| Deemed dividend on issuance of common stock and warrants in connection with amendment to warrants to purchase common stock | | | (2,253) | | | — | | | (2,253) | | | — |
| Net loss attributable to common stockholders | | $(7,345) | | $(6,111) | | $(53,145) | | $(12,358) | ||||
| Net loss per common share - basic and diluted | | $(1.39) | $(144.98) | | $(16.81) | $(443.57) | ||||||
| Weighted average number of common shares used in computing net loss per common share | | 5,278,064 | 42,150 | | 3,162,227 | 27,861 | ||||||
Note: Share and per share amounts have been retroactively adjusted to reflect the impact of a 1-for-100 reverse stock split effected in January 2023 as well as a 1-for-150 reverse stock split effected in April 2024, as discussed in Note 1.
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