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]