Why Are Summit Wireless Shares Trading Lower Today? - WiSA Technologies (NASDAQ:WISA)

Immersive, wireless sound technology provider Summit Wireless Technologies Inc WISA sees preliminary third-quarter FY21 revenue growth of 200% year-on-year to $1.8 million. The compares to the analyst consensus of $2.04 million.
The management reaffirmed 2021 revenue growth projections of over 180% Y/Y.
"Consumer engagement is rising and driving revenue growth," CEO Brett Moyer said. WiSA Association website visitors traction continues to increase and surpassed 1.2 million in the first nine months of the year. With our solid progress combined with our strong expectations for the holiday season, we continue to believe 2021 will be a breakout year."
Wireless Technologies reported second-quarter FY21 revenue growth of 354% Y/Y to $1.6 million beating the consensus.
Price Action: WISA shares traded lower by 5.05% at $2.63 in the market session on the last check Tuesday.