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]

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].