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“The Buzz” Show: Summit Wireless Technologies Skyrockets Following Positive Q3 Results

Summit Wireless Technologies (NASDAQ: WISA) jumped 37% higher in premarket trading after the company reported its Q3 results and gave an encouraging Q4 update.

Summit Wireless’ Q3 revenue grew over 45% year over year while it also reported a 17.1% gross margin, compared to 7.6% in Q3 2019 and the company’s management now expects to exceed 100% year over year revenue growth for Q4 of 2020.

Summit Wireless Technologies, Inc. is a leading provider of immersive, wireless sound technology for intelligent devices and next-generation home entertainment systems. Working with leading CE brands and manufacturers such as Harman International, a division of Samsung, LG Electronics, Klipsch, Bang & Olufsen, Xbox, a subsidiary of Microsoft, and others, Summit Wireless delivers seamless, dynamic audio experiences for high-definition content, including movies and video, music, sports, gaming/esports, and more. Summit Wireless is a founding member of WiSA, the Wireless Speaker and Audio Association and works in joint partnership to champion the most reliable interoperability standards across the audio industry.

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