Datavault AI Inc 2025年季度报告

(408)627-4716 (Registrant’s telephone number, including area code) Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated PARTI: FINANCIAL INFORMATIONItem1. Financial Statements (unaudited) Convertible PreferredStockCommon SharesAdditionalAmouPaid- 5 Datavault AIInc.,formerly known as WiSA Technologies,Inc.,and before then Summit WirelessTechnologies, Inc. (together with its subsidiaries also referred to herein as “we”, “us”, “our”, “Datavault”,“Datavault AI” or the “Company”), was originally formed as a limited liability company in Delaware on July 1.Business and Summary of Significant Accounting Policies,continued The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and include alladjustments necessary for the fair presentation of the Company’s financial position, results of operations and cash flows for the periods presented. The condensed consolidated financial statements reflect the accounts ofDatavault AI Inc. and its wholly-owned subsidiaries, WISA Technologies Korea, LTD, a Korean limitedcompany, which was established in September 2022, and WiSA, LLC, a Delaware limited liability company.All intercompany balances and transactions are eliminated.Use of Estimates notes. Actual results could differ from those estimates. Reclassification Certain reclassifications have been made to prior periods’ condensed consolidated financial statements toconform to the current period presentation. These reclassifications did not result in any change in previouslyreported net income (loss), total assets or stockholders’ deficit. Financial instruments that potentially subject the Company to significant concentrations of credit risk consistprimarily of cash and cash equivalents and accounts receivable. Cash and cash equivalents are deposited indemand and money market accounts at one financial institution. At times, such deposits may be in excess ofinsured limits. The Company has not experienced any losses on its deposits of cash and cash equivalents.The Company’s accounts receivable are derived from revenue earned from customers located throughout theworld. The Company performs credit evaluations of its customers’ financial condition and may, in certain Company hadthreecustomers accounting for35%,29% and21% of its net revenue for the three monthsended March 31, 2024. The Company’s future results of operations involve a number of risks and uncertainties. Factors that couldaffect the Company’s future operating results and cause actual results to vary materially from expectationsinclude, but are not limited to, rapid technological change, continued acceptance of the Company’s products,competition from substitute products and larger companies, protection of proprietary technology, strategicrelationships and dependence on key individuals.The Company relies on sole-source suppliers to manufacture some of the components used in its product. 1.Business and Summary of Significant Accounting Policies,continued Accounts receivable are recorded at the invoice amount and are generally not interest bearing. The Companyreviews its trade receivables aging to identify specific customers with known disputes or collection issues. The Company exercises judgment when determining the adequacy of these reserves as it evaluates historicalbad debt trends and changes to customers’ financial conditions. Fair Value of Financial InstrumentsCarrying amounts of certain of the Company’s financial instruments, including cash and cash equivalents,accounts receivable, prepaid expenses and other current assets, accounts payable and accrued liabilities and convertible note payable are the only financial instrument that is adjusted to fair value on a recurringbasis.Inventories technology is written off. At the point of loss recognition, a new lower cost basis for that inventory isestablished and subsequent changes in facts and circumstances do not result in the restoration or increase inthe new cost basis. capitalized. The deferred offering costs will be offset against public offering proceeds upon the effectivenessof an offering. In the event that an offering is terminated, deferred offering costs will be expensed. As ofMarch 31, 2025 and December 31, 2024, the Company had capitalized $117,000and $0, respectively, of sheets. Property and Equipment, Net Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation ofproperty and equipment is computed using the straight-line method over their estimated useful lives oftwotofive years. Leasehold improvements and assets acquired under capital lease are amortized on a straight-linebasis over the shorter of the useful life or term of the lease. Upon retirement or sale, the cost and relatedaccumulated depreciation are removed from the balance sheet and the r