Summit Says 2021 Sales Rose 170% in Early Look; Shares Hit 52-Week Low

Summit Wireless Q4 sales of about $2 million brought full-year totals to more than $6.5 million, up 170% from 2020, said the company in a preliminary report Tuesday. The company’s spatial audio technology and the WiSA Wave program are driving growth, said CEO Brett Moyer. In 2022, management expects to continue to build the brand by expanding the WiSA Wave effort to Europe and China, increasing website visitors to 3 million-5 million and launching more products. Summit is due to report Q4 results next month. Shares reached a 52-week low Tuesday at $1.16 before closing down 4.5% at $1.28.