Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-36379 ENERGOUS CORPORATION (Exact Name of Registrant as Specified in Its Charter) Delaware 46-1318953 (State or Other ...

Energous Corporation’s Financial Performance Shows Strong Revenue Growth and Reduced LossesEnergous Corporation (NASDAQ:WATT), a developer of wireless power solutions, reported significant financial progress in its fiscal year 2025 results, highlighted by record revenue growth and substantially reduced losses. While the company remains unprofitable, its latest performance reflects meaningful advancement toward financial sustainability.Energous focuses on developing over-the-air wireless charging technologie ...

- Reports Revenue of $5.6 Million – Posting fourth consecutive quarter of growth and highest recorded annual revenue in the Company’s history -- Lowest Quarterly Net Loss since 2013 – Evidencing further progress toward profitability - SAN JOSE, Calif., March 25, 2026 (GLOBE NEWSWIRE) -- Energous Corporation d/b/a Energous Wireless Power Solutions (Nasdaq: WATT) (the “Company,” “we,” or “our”), a leader in over-the-air (OTA) wireless power networks, today announced financial results for the year ended Decemb ...

Core Viewpoint - Three stocks in the industrials sector are signaling potential warnings for momentum-focused investors as of February 3, 2026 [1] Group 1: Momentum Indicator - The Relative Strength Index (RSI) is a key momentum indicator that compares a stock's performance on days with price increases to days with price decreases [2] - An asset is generally considered overbought when the RSI exceeds 70, indicating potential caution for traders [2] Group 2: Overbought Stocks - The following companies are identified as major overbought players in the industrials sector: Matson Inc (NYSE:MATX), CH Robinson Worldwide Inc (NASDAQ:CHRW), and Energous Corp (NASDAQ:WATT) [3]

Core Insights - As of February 3, 2026, three stocks in the industrials sector are identified as potential warning signs for momentum-focused investors [1] Group 1: Momentum Indicator - The Relative Strength Index (RSI) is a key momentum indicator that compares a stock's performance on days with price increases to days with price decreases [2] - An asset is generally considered overbought when the RSI exceeds 70, indicating potential caution for traders [2] Group 2: Overbought Stocks - The following companies are listed as major overbought players in the industrials sector: - Matson Inc (NYSE:MATX) - CH Robinson Worldwide Inc (NASDAQ:CHRW) - Energous Corp (NASDAQ:WATT) [3]

Core Insights - Premarket trading is showing notable activity with significant price movements indicating potential investment opportunities before the market opens [1] Premarket Gainers - VenHub Global, Inc. (VHUB) has increased by 109% to $13.47 - C3is Inc. (CISS) has risen by 78% to $3.27 - Swvl Holdings Corp. (SWVL) is up 70% at $3.09 - Namib Minerals (NAMM) has gained 19% to $4.41 - Energous Corporation (WATT) is up 15% at $9.12 - Envirotech Vehicles, Inc. (EVTV) has increased by 15% to $2.20 - TOYO Co., Ltd. (TOYO) is up 9% at $8.59 - Tharimmune, Inc. (THAR) has risen by 9% to $5.33 - 5E Advanced Materials, Inc. (FEAM) is up 9% at $2.28 - Raytech Holding Limited (RAY) has increased by 8% to $3.90 [3] Premarket Losers - Elong Power Holding Limited (ELPW) has decreased by 75% to $3.44 - Phoenix Asia Holdings Limited (PHOE) is down 63% at $49.00 - Intelligent Living Application Group Inc. (ILAG) has fallen by 26% to $2.52 - La Rosa Holdings Corp. (LRHC) is down 22% at $2.23 - Indonesia Energy Corporation Limited (INDO) has decreased by 15% to $3.64 - Serina Therapeutics, Inc. (SER) is down 15% at $2.63 - Abundia Global Impact Group Inc (AGIG) has fallen by 14% to $2.68 - ZeroStack Corp. (ZSTK) is down 8% at $10.45 - Robin Energy Ltd. (RBNE) has decreased by 8% to $4.27 - iOThree Limited (IOTR) is down 7% at $4.09 [4]

Financial Information - Energous Corporation announced preliminary financial information for the year ended December 31, 2025[5]. - The press release detailing financial results was issued on January 13, 2026[5]. - The financial information provided is not deemed "filed" under the Securities Exchange Act of 1934[6]. - The report includes an Interactive Data File embedded as Inline XBRL document[8]. - The report does not specify detailed financial metrics or performance indicators[5]. Company Overview - The company operates under the name Energous Wireless Power Solutions[5]. - The company is listed on the Nasdaq Stock Market under the trading symbol WATT[3]. - The CEO and CFO of Energous Corporation is Mallorie Burak[12]. - The company is incorporated in Delaware[2]. Product and Strategy Information - No information on new products, technologies, or market strategies was provided in the current report[5].

Core Insights - Energous Corporation reported record revenue growth for the year ended December 31, 2025, with annual revenue expected to be $5.6 million, a 630% increase from approximately $0.8 million in 2024, marking the highest annual revenue in the company's history [2][7] - The company achieved a significant improvement in operating performance, with net loss decreasing by over 45% year-over-year, attributed to increased scale and improved cost discipline [2][4] - Energous raised approximately $23.9 million in equity capital in 2025, enhancing its financial position and enabling sustained investment in product innovation and strategic growth initiatives [2][7] Financial Performance - For Q4 2025, preliminary revenue was approximately $3.0 million, reflecting a 139% increase quarter-over-quarter from approximately $1.3 million in Q3 2025, while net loss improved by over 25% compared to the previous quarter [3][7] - The company expects to finalize its financial results in its Annual Report on Form 10-K [3] Product Development - Energous expanded its product portfolio in 2025 with four new products aimed at enhancing its wireless power platform, including e-Sense, e-Compass, PowerBridge MOD, and PowerBridge PRO+ [5][8] - The company was granted 15 new patents in 2025, strengthening its technology foundation and ability to deliver differentiated solutions [5] Commercial Expansion - Energous joined the Amazon Web Services (AWS) Partner Network, allowing integration of its wireless power and sensing technologies with AWS cloud services, facilitating scalable operations [6] - The company's hardware and software solutions are now qualified and available through the Amazon Marketplace, streamlining procurement for enterprise customers [6] Operational Milestones - The year 2025 marked a significant inflection point for Energous, translating years of technology development into tangible financial and commercial momentum [9] - The company reported support for over 410 retail stores and fulfillment centers, deployment across three national grocery distribution centers, and 14 international deployments, with more than 25,000 PowerBridge units shipped and zero product returns on PowerBridge systems [12]

Core Viewpoint - Energous Corporation has received regulatory approval for its PowerBridge Pro Directional transmitter, enabling commercialization across the European Union and the UK, marking a significant step in the company's global expansion strategy [1][3]. Group 1: Product Certification and Features - The PowerBridge Pro delivers 2W conducted power with an Effective Isotropic Radiated Power (EIRP) of 39.5 dBi, providing enterprises with broader coverage and higher performance for at-a-distance wireless power [2]. - The system has received dual-band approval for both lower (865 MHz) and upper (918 MHz) bands, allowing unrestricted deployment across EU member countries [2]. Group 2: Strategic Importance and Market Impact - The EU certification is seen as a major milestone for Energous, positioning the company to replicate its success in the U.S. market within Europe, facilitating the scaling of wireless power infrastructures across supply chains [3]. - The approval is expected to accelerate the adoption of wireless power as a foundational infrastructure layer for Ambient IoT, offering a sustainable alternative to batteries and enhancing operational connectivity globally [5]. Group 3: Company Overview and Mission - Energous is pioneering scalable over-the-air wireless power networks, aiming to drive a new generation of battery-free devices for various applications, including asset tracking and environmental monitoring [6]. - The company's technology is designed to provide continuous access to wireless power, supporting smarter and more connected operations [6].

Revenue Performance - Revenue for the three months ended September 30, 2025, was $1.3 million, a 453% increase from $0.2 million in the same period in 2024, driven by expansion with multinational enterprise retailers[148] - Revenue for the nine months ended September 30, 2025, was $2.6 million, a substantial increase of 662% compared to $0.3 million in the same period of 2024[158] - The company recorded revenue of $2.6 million for the nine months ended September 30, 2025, compared to $0.3 million for the same period in 2024, representing a significant increase of 766.67%[181] Cost and Expenses - Cost of revenue increased to $0.8 million in Q3 2025 from $0.3 million in Q3 2024, representing a 166% increase, primarily due to higher sales volume of PowerBridge Pro transmitters[150] - Cost of revenue for the nine months ended September 30, 2025, was $1.7 million, a 217% increase from $0.5 million in 2024, driven by higher sales volume[160] - Research and development expenses decreased to $0.9 million in Q3 2025 from $1.5 million in Q3 2024, a reduction of 39% attributed to lower payroll costs from a reduced headcount[151] - Research and development costs decreased by 46% to $3.2 million in the nine months ended September 30, 2025, from $6.0 million in 2024[162] - Sales and marketing expenses were $0.5 million in Q3 2025, down 29% from $0.7 million in Q3 2024, primarily due to decreases in stock-based compensation and consulting fees[152] - General and administrative expenses for Q3 2025 were $1.2 million, a slight decrease of 1% from $1.3 million in Q3 2024[153] - General and administrative costs for the nine months ended September 30, 2025, were $3.4 million, down 31% from $5.0 million in 2024[164] - Total operating expenses decreased to $2.6 million in Q3 2025 from $3.5 million in Q3 2024, a reduction of 24%[148] - Severance expense for Q3 2025 was $8,000, a significant decrease of 90% from $0.1 million in Q3 2024[154] - Total other income for Q3 2025 was $78,000, down 54% from $169,000 in Q3 2024, primarily due to a change in fair value of warrant liability[155] - Expenses from abandoned financing transactions were $0.7 million for the nine months ended September 30, 2025, with no such expenses in 2024[166] Profitability and Loss - Gross profit improved significantly to approximately $0.5 million in Q3 2025, compared to a gross loss of $76,000 in Q3 2024, marking a 703% year-over-year improvement[150] - Loss from operations improved to $2.2 million in Q3 2025, compared to a loss of $3.6 million in Q3 2024, reflecting a 39% reduction in losses[149] - Net loss for Q3 2025 was $2.1 million, a 38% improvement from a net loss of $3.4 million in Q3 2024[148] - Net loss for the nine months ended September 30, 2025, was $8.3 million, a reduction of 42% from $14.3 million in the same period of 2024[169] - The net loss for the nine months ended September 30, 2025, was $8.3 million, an improvement from a net loss of $14.3 million in the same period of 2024, indicating a reduction of 42.0%[181] Cash Flow and Financing - Cash flows used in operating activities were $10.0 million for the nine months ended September 30, 2025, compared to $14.9 million for the same period in 2024, reflecting a decrease of 32.9%[185][186] - The company had cash and cash equivalents of $12.9 million as of September 30, 2025[181] - The company raised net proceeds of $4.5 million from a registered direct offering on September 11, 2025, issuing 120,000 shares of common stock and warrants[135] - The company raised net proceeds of $18.2 million during the nine months ended September 30, 2025, through the ATM Program, along with $4.1 million from the 2025 Offering[181][188] - The 2025 Offering included the issuance of 120,000 shares of common stock and warrants to purchase up to 585,347 shares at a combined price of $7.92 per share[172] - The company fully repaid the Amended Loan Agreement of $1.415 million on July 7, 2025, with no further obligations remaining[180] - The company expects to pursue additional financing options, including equity or debt securities, to sustain operations[183] - The company issued new unregistered warrants to purchase 47,764 shares at an exercise price of $7.79 per share as part of the Concurrent Warrant Exercise Transaction[176] - Cash flows provided by financing activities were $21.6 million for the nine months ended September 30, 2025, compared to $2.5 million for the same period in 2024, indicating a substantial increase[188][189] Product Development - The first WPN-enabled end product featuring the company's technology was launched in 2019, with further innovations anticipated, including the introduction of the battery-free e-Sense tag and e-Compass software platform in Q2 2025[134]