Is Chord working on a DAVE 2, Hugo 3, Mojo 3 or TT3, and when might the Ultima DAC arrive?
Short answer
Watts has not announced a DAVE 2, Hugo 3, Mojo 3 or TT3. He said in July 2024 he had not started a DAVE replacement HIFICLUB 50:50, in February 2022 that "the next product will not be a Hugo 3" Head-Fi, Feb 2022, and in December 2023 "Certainly not TT3!" Head-Fi, Dec 2023. In an interview published March 2026 (recording date not stated), asked about a DAVE replacement, he said "Not imminently" Audio Force 20:14. In an interview recorded in autumn 2026 and published October 2026 he said the Ultima DAC was "still on the map", undated article, Oct 2026.
Practical answer. Nothing in the archive shows Watts announcing a successor to the DAVE, Hugo 2, Mojo 2 or Hugo TT 2. On a DAVE replacement he said "Not imminently" in an interview published March 2026 (recording date not stated); in a podcast published October 2026 (recording date not stated) he said he was "not allowed to talk about any future development", and in an interview recorded in autumn 2026 he said "I never say no" while calling one chassis for a DAVE successor and Quartet a nightmare Audio Force 20:14Distorsiuni Interioare 1:17:34article, Oct 2026. His latest statements on a Hugo 3 and TT3 (2023) and a Mojo 3 (2025 to 2026) deny work on them or knowledge of them The Source AV 37:59Head-Fi, Dec 2023Head-Fi, Mar 2025. The new DAC he names as unfinished is the Ultima DAC, with no release date. He says he cannot discuss future products: "I am not at liberty to discuss future product replacements or plans" (May 2022, Mojo 2 thread) Head-Fi, May 2022.
DAVE (a DAVE 2)
From 2016 to 2020 he said repeatedly that a Dave 2 was not on his horizon Head-Fi, Nov 2016Head-Fi, Jan 2018Head-Fi, Sep 2019Head-Fi, Jan 2020: in May 2018 "No I am not working or thinking about a Dave 2" Head-Fi, May 2018; in December 2018 "I have not worked out how I will fundamentally beat it" Head-Fi, Dec 2018; and in August 2020 "design work on Dave 2 is not on my horizon at present", adding that projects take at least 18 months from concept to production Head-Fi, Aug 2020.
In February 2022 he wrote "I haven't started work on a replacement to Dave at all", while allowing that component shortages could force one Head-Fi, Feb 2022. He repeated in March 2023 that he had not started a Dave replacement Eric's Hi-Fi 8:36Eric's Hi-Fi 8:40, and in July 2024 said "I haven't started work on a DAVE replacement" HIFICLUB 50:50. In September 2025 he said of Quartet "it's not a replacement to Dave" The Source AV 8:42.
In that March 2026 interview a host asked about a replacement model (the transcript garbles the model name; the interview is about DAVE). He answered "Not imminently, no" and "this is not happening in the next year or so" Audio Force 20:14. In that October 2026 podcast, asked whether Quartet begins a successor pair, he said "Obviously, I'm not allowed to talk about any future development" and named the Pro ADC as his biggest current challenge Distorsiuni Interioare 1:17:34Distorsiuni Interioare 1:18:54. In an interview recorded in autumn 2026 (published October 17, 2026), asked about a DAVE successor that could contain Quartet, he said one chassis "would be a nightmare", while adding "I never say no, but the difficulty of preventing the noise of all the processing from upsetting the DAC was an enormous challenge" article, Oct 2026.
Hugo 2, Qutest and a Hugo 3
In February 2022, after the Dave comment above, he wrote that it "also applies to Hugo 2, Qutest and TT2, so the next product will not be a Hugo 3" Head-Fi, Feb 2022. At CanJam SoCal 2023 (live stream of September 30, archived October 1, 2023), asked about a Hugo 3, he said "it's not something I've started to work on" and "normally it takes about 18 months" The Source AV 37:59The Source AV 38:07.
Mojo 2 and a Mojo 3
In a post made between March 2025 and March 2026 he replied "Mojo 3? News to me!" He added that there was "no cost comparable replacement to the 28nm 200T" FPGA, so "you will need to continue to carry your M scaler" Head-Fi, Mar 2025. In an interview published May 2026 (recording date not stated) he said a portable M scaler is "maybe in 10 or 20 years' time" Audio Force 19:14.
Hugo TT 2 and a TT3
On December 24, 2023 he replied (the question is not preserved) "The M scaler to match Dave, and the Ultima DAC. Certainly not TT3!" Head-Fi, Dec 2023.
Ultima DAC
In September 2022 he said "the prototype design files were issued in June" and hoped to show something "maybe next year" or "maybe the year after that" The Source AV 16:15. At CanJam Singapore in March 2023 he said "It's slated for next year" Amplify Audio 12:01. In November 2023 he expected to be "full time on the Ultima DAC by January 2024" Head-Fi, Nov 2023. In July 2024 he said it would be launched "Maybe next year, or maybe the year after that" HIFICLUB 35:12.
On price, he wrote in February 2023 "I have never said USD 100k for an Ultima DAC" Head-Fi, Feb 2023, said in December 2023 it "will be priced at several times more than Dave" Head-Fi, Dec 2023, and in the SoundNews interview (recorded autumn 2026, published October 2026) "much, much more expensive than DAVE currently is" article, Oct 2026.
In a podcast published October 2026 (recording date not stated) he said the project "went into abeyance" because Quartet consumed his time Part-Time Audiophile 53:58. In the SoundNews interview, asked what else is coming, he said "I’ve still got the Ultima DAC to finish" and "Yes, it's still on the map" article, Oct 2026article, Oct 2026. Asked if it is a DAVE successor, he called it "a completely different product" article, Oct 2026.
What he has not said. He has given no Ultima DAC release date or price figure; his 2026 statements give no new estimate after the 2022 to 2024 ones above article, Oct 2026HIFICLUB 35:12. The archive holds no Hugo 3 or TT3 statement after 2023.
Quotes
“This also applies to Hugo 2, Qutest and TT2, so the next product will not be a Hugo 3!”2022-02-09 Head-Fi, Feb 2022
“No. No. No. I haven't started work on a DAVE replacement.”2024-07-12 HIFICLUB 50:50
“Not imminently, no. There will be some stage in the future model, but this is not happening in the next year or so.”2026-03 Audio Force 20:14
“It’s a completely different product, and it’s going to be much, much more expensive than DAVE currently is.”2026-10-17 article, Oct 2026
Dated positions
| When | Products | Position |
|---|---|---|
| 2016-11 to 2020-08 | DAVE | He repeatedly said a Dave 2 was not on his horizon or not being worked on, citing his other projects and long development times. Head-Fi, Nov 2016Head-Fi, Jan 2018Head-Fi, May 2018Head-Fi, Dec 2018Head-Fi, Sep 2019Head-Fi, Jan 2020Head-Fi, Aug 2020 |
| 2022-02 to 2024-07 | DAVE | He said he had not started work on a replacement for Dave, while noting supply problems could change that. Head-Fi, Feb 2022Eric's Hi-Fi 8:36HIFICLUB 50:50 |
| 2026-03 to 2026-10 | DAVE | He said in an interview published March 2026 (recording date not stated) that a replacement was not imminent and not expected in the next year or so; in a podcast published October 2026 he declined to discuss future development, and in an interview recorded in autumn 2026 (published October) he called a DAC containing Quartet in one chassis a nightmare while saying he never says no. Audio Force 20:14Distorsiuni Interioare 1:17:34article, Oct 2026 |
| 2019-11 | Hugo 2 | He said he still hoped for a Hugo 2 with an integrated M scaler on one FPGA but that it was many years, possibly decades, away. Head-Fi, Nov 2019 |
| 2022-02 | Hugo 2, Hugo TT2 | He said the next product would not be a Hugo 3, and that Hugo 2, Qutest and TT2 were covered by the same supply and prototype points. Head-Fi, Feb 2022 |
| 2023-09 | Hugo 2 | Asked about a Hugo 3, he said he had not started work on it and that products normally take about 18 months. The Source AV 37:59The Source AV 38:07 |
| 2023-12 | Hugo TT2 | Replying to a question not preserved, he named the M scaler to match Dave and the Ultima DAC and said 'Certainly not TT3'. Head-Fi, Dec 2023 |
| 2025-2026 | Mojo 2 | He called a Mojo 3 rumor news to him and said a portable M scaler needs FPGAs that do not yet exist at suitable power and cost, later estimating 10 or 20 years (interview published May 2026, recording date not stated). Head-Fi, Mar 2025Audio Force 19:14 |
| 2022-09 to 2024-07 | Ultima DAC (in development) | His Ultima DAC timing statements were: show something next year or the year after (September 2022), slated for next year, meaning 2024 (March 2023), and launch next year or the year after (July 2024). The Source AV 16:15Amplify Audio 12:01HIFICLUB 35:12 |
| 2026-10 | Ultima DAC (in development) | In a podcast published October 2026 (recording date not stated) he said the Ultima DAC project went into abeyance during Quartet and that the Pro ADC is his biggest effort; in an interview recorded in autumn 2026 he said the Ultima DAC is still on the map and will be much more expensive than DAVE, with no date given. Part-Time Audiophile 53:58article, Oct 2026article, Oct 2026article, Oct 2026 |
Caveats and open points
- Several answers come (the CanJam SoCal 2023 Hugo 3 exchange, the March 2026 replacement question, the 10-or-20-years estimate, the October 2026 podcast interviews); check the recordings.
- The March 2026 and May 2026 Audio Force interviews and the October 2026 podcast are dated by publication; their recording dates are not stated. The March 2026 host question is garbled in the transcript; that it concerns DAVE is inferred from the interview's subject.
- The Mojo 3 post cannot be dated more closely than between 2025-03-27 and 2026-03-03.
- The December 2023 'Certainly not TT3' reply does not preserve the question it answers.
- Watts says Chord, not he, controls talk of future products; he has stated no Ultima DAC date or price figure.
- The archive holds two statements on Hugo 3 (2022 and 2023), one on TT3 and one post on Mojo 3, so those answers are thin.
- The SoundNews interview was recorded in autumn 2026, after CanJam SoCal in late August, and published on October 17, 2026; its exact date relative to the October 2026 podcast statements is not established.