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Energous Wireless Power Solutions Reports Second Quarter 2025 Results
Globenewswire· 2025-07-29 11:00
Second Quarter 2025 Financial Results Revenue for the quarter ended June 30, 2025 of approximately $1.0 million versus approximately $46,000 in the same period in 2024, an improvement of nearly 21 times the same prior year period, and a 184% improvement over first quarter of 2025 revenue of $0.3 million. Revenue in the second quarter of 2025 represents the highest recorded quarterly revenue for the Company since 2016 and contributed to the Company's year-to-date revenue through June 30, 2025 of approximatel ...
Energous Reports Preliminary Record Quarterly Revenue, Achieves Lowest Net Loss in Ten Years, and Retires High-Interest Debt
Globenewswire· 2025-07-08 11:00
Milestone quarter underscores the company’s turnaround and path to sustainable, profitable growthSAN JOSE, Calif., July 08, 2025 (GLOBE NEWSWIRE) -- Energous Corporation d/b/a Energous Wireless Power Solutions (NASDAQ: WATT), a leader in over-the-air (OTA) wireless power networks, today announced preliminary results for its second quarter of 2025, reflecting significant progress in revenue growth, cost discipline, product innovation, and balance sheet strength. Energous expects to report revenue for the qua ...
Energous (WATT) 2025 Earnings Call Presentation
2025-06-25 12:03
INVESTOR PRESENTATION May 13, 2025 Forward Looking Statements This presentation contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the "safe harbor" created by those sections, including statements regarding our future performance, ability to enter into future partnerships, future portfolio and ability to obtain future regulatory approval. All ...
Energous Wireless Power Solutions Reports First Quarter 2025 Results
Globenewswire· 2025-05-13 20:05
Core Insights - Energous Corporation reported a significant revenue increase of over 430% in Q1 2025 compared to Q1 2024, driven by a 483% increase in revenue from PowerBridge transmitter systems [2][5] - The company secured $13.8 million in net proceeds from its at-the-market offering program to support growth initiatives [2][11] - The company aims to reduce cash burn, achieving annualized cost savings of approximately $7.3 million [2] Financial Performance - Revenue for Q1 2025 was $0.3 million, up from approximately $0.1 million in Q1 2024, marking a 436% year-over-year increase [5] - Gross profit for Q1 2025 was approximately $0.1 million, a 307% improvement from a gross loss of $45,000 in the prior year [5] - Operating expenses decreased to $3.7 million in Q1 2025 from $6.6 million in Q1 2024, representing a 44% year-over-year improvement [5] Operational Highlights - The company shipped an additional $0.3 million in products after Q1 2025, primarily to multinational retailers and a multi-billion dollar power company [5] - Energous introduced two new products: the AI-driven PowerBridgeMOD and PowerBridge PRO+ with integrated gateway, enhancing its asset tracking solutions [11] - A major retailer is accelerating a multi-stage infrastructure modernization project, planning to deploy PowerBridge PRO transmitters in over 4,700 locations nationwide [11] Cash Position - As of March 31, 2025, the company had approximately $10.1 million in cash and cash equivalents, a significant increase from $1.4 million at the end of Q1 2024 [5][16]
Energous Wireless Power Solutions Reports 2024 Results
Globenewswire· 2025-02-27 21:05
Core Viewpoint - Energous Corporation reported significant financial growth in 2024, with a shift towards increased revenue from its PowerBridge transmitters, indicating a positive trend in market adoption of its wireless power solutions [1][5][7]. Financial Results - Revenue for the year ended December 31, 2024, was $0.8 million, a 62% increase from approximately $0.5 million in 2023 [5]. - In 2024, 88% of revenue was generated from PowerBridge transmitters, compared to 80% of 2023 revenue from non-recurring engineering services and micro-chip sales [5]. - Fourth quarter revenue for 2024 was $0.4 million, an 86% increase from approximately $0.2 million in the third quarter of 2024 [5]. - Total GAAP cost of revenue and operating expenses for 2024 was $19.2 million, down from $22.6 million in 2023 [5]. - Non-GAAP operating expenses decreased by approximately $4.0 million, or 19%, year over year, totaling $16.2 million in 2024 [5]. - The net loss for 2024 was approximately $(18.4) million, or $(2.57) per share, an improvement from a net loss of $(19.4) million, or $(4.15) per share, in 2023 [5][17]. - Cash and cash equivalents as of December 31, 2024, were approximately $1.4 million, increasing to approximately $11.7 million by February 25, 2025 [5]. Company Highlights - The company was granted 13 new patents in 2024, enhancing its intellectual property portfolio [5]. - Energous rebranded its PowerBridge transmitters, with the PowerBridge PRO offering 8W EIRP capabilities and the PowerBridge LITE providing 4W EIRP capabilities [5]. - A significant contract was awarded by a Fortune 10 multinational retailer to deploy PowerBridge transmitters in over 4,700 locations [5]. - The company is developing a battery-free smart tag for a global leader in RFID-based solutions, aimed at enhancing visibility and asset tracking for retail IoT applications [5][7].