Yes, it does. Once the microphone captures the audio, it generates 32-bit float data and transmits it wirelessly to the Smart Audio Mixer for processing.
You can configure the Mic Bit Depth and Audio Interface Bit Depth within the More Settings section of the App. This allows both the Mic and the Mixer's USB output to support 32-bit float audio. (Please note: Only specific smartphones and computers support 32-bit float input.)