- 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 December 31, 2025, reporting revenue of approximately $5.6 million for the year, representing a 633% increase over 2024, and a 48% improvement in net loss compared to the prior year. The Company also provided an update on recent events and Company highlights.
During 2025, the Company demonstrated its continued focus on growth and fiscal discipline, reporting its fourth consecutive quarter of growth, with revenue of approximately $3.0 million for the three months ended December 31, 2025, representing a 139% increase from $1.3 million of revenue reported for the three months ended September 30, 2025. Improvement from the third quarter to the fourth quarter of 2025 was also evidenced by a narrowing net loss to $1.3 million for the three months ended December 31, 2025, representing a 37% improvement from a net loss of $2.1 million for the third quarter of 2025.
"We believe we have reached an inflection point investors have been waiting for--commercial deployments at scale, driving our highest recorded annual revenue to date. Our fourth consecutive quarter of revenue growth, combined with over 25,000 PowerBridge transmitters deployed with zero returns, and a Fortune 10 retailer's planned expansion from 410 to 4,700 locations, demonstrates that wireless power networks have moved from technology validation to production infrastructure," said Mallorie Burak, CEO and CFO of Energous Corporation. "The fundamentals are increasingly being proven; enterprises are choosing wireless power networks over ambient harvesting because they need guaranteed coverage."
2025 Financial Results
-- Revenue for the year ended December 31, 2025 of approximately $5.6
million versus revenue of approximately $0.8 million in 2024,
representing a 633% improvement year-over-year.
-- Revenue in 2025 marks the highest recorded annual revenue in the
Company's history.
-- For the year ended December 31, 2025, gross profit was $2.0 million,
representing a significant increase from gross profit of approximately
$12,000 in the prior year. Gross margin was 36% for the year ended
December 31, 2025, improving from gross margin of approximately 2% for
the prior year. Focus on gross margin improvement remains a key
operational goal for 2026 and beyond, especially as the Company
introduces its end-to-end solution, which includes access to our
cloud-based software platform, e-Compass.
-- Over 25,000 PowerBridge transmitters were shipped during 2025. The
Company has zero product returns since commercial production of
its PowerBridge Pro began in 2024, underscoring that the highest
level of product quality remains a key priority for the Company
during widespread adoption of our technology.
-- GAAP operating expenses for the year ended December 31, 2025 totaled
$12.0 million versus $18.4 million in 2024, a 35% year over year
improvement.
-- Non-GAAP operating expenses(1) for 2025 were approximately $10.6 million,
decreasing from $16.2 million in the prior year, representing a reduction
of approximately $5.6 million, or 35%, from the prior year.
-- As a result of increased revenue and continued operational and
manufacturing cost reductions, GAAP net loss and GAAP loss per share were
approximately $(9.6) million, or $(6.46) per basic and diluted share, for
the year ended December 31, 2025, a 48% improvement versus the net loss
of approximately $(18.4) million, or $(77.16) per basic and diluted share,
for 2024. The GAAP net loss reported for 2025 represents the lowest net
loss for the Company since 2013 and demonstrates meaningful progress made
toward reaching profitability.
-- Non-GAAP net loss1 was approximately $(8.4) million for the year ended
December 31, 2025 versus non-GAAP net loss of approximately $(16.2)
million for the prior year, a 48% improvement year over year.
-- The Company reports approximately $10.4 million in cash and cash
equivalents as of December 31, 2025.
Company Highlights
-- On January 13, 2026, Energous reported highlights of 2025, a
transformational year of growth and platform expansion for the Company.
-- After the end of the year through March 23, 2026, the Company raised net
proceeds of approximately $31.9 million from additional sales under its
ATM program. As of March 23, 2026, our cash and cash equivalents were
approximately $39.4 million. We intend to use our available cash to
pursue strategic acquisitions and investments, to invest in research and
product development, other strategic initiatives, fulfillment of customer
demand, and for operational and general corporate purposes.
-- A multi-billion-dollar, U.S. based subsidiary of a British parent company
selected Energous' end-to-end Ambient IoT solution for a large-scale
proof-of-concept deployment that will modernize its semi-perishable
inventory tracking across its production and distribution operations.
Continuing its goal of optimizing its existing processes at a key
facility and improving visibility, this customer chose Energous to enable
real-time inventory tracking using wireless power networks, battery-free
sensors, gateways, and cloud analytics.
-- Energous is currently engaged in a large-scale proof-of-concept with a
Fortune 10 subsidiary focused on retail sales of bulk items. A primary
use case for this deployment is cold chain compliance monitoring at dock
doors, tracking pallet dwell time from point of entry through storage in
freezer and cooler areas.
-- Energous has achieved AWS Independent Software Vendor (ISV) Accelerate
status, with its partner profile now officially listed on the AWS Partner
Network website. This designation recognizes Energous as a validated AWS
partner, reinforcing the enterprise credibility of its Ambient IoT and
wireless power end-to-end solutions and deepening its go-to-market
alignment with AWS.
-- Made in the U.S.A. -- Effective March 2026, the Company expanded its
production capacity, launching a new contract manufacturer based in the
United States. This strategic initiative ensures Energous is better
positioned to fulfill orders for its wireless power network solutions as
well as service customers requiring that products be designed and
manufactured in the United States.
-- Energous strengthened its intellectual property portfolio with 15 new
patents granted in 2025, supporting the Company's long-term technology
leadership in wireless power networks.
"Our customers need more than 'connected' environments--they need dependable infrastructure," concluded Burak. "Wireless power networks are to battery-free IoT what WiFi was to mobile devices: necessary infrastructure that makes the ecosystem actually work, which we are demonstrating Energous can deliver."
About Energous Wireless Power Solutions
Energous Corporation d/b/a Energous Wireless Power Solutions $(WATT)$ is pioneering scalable, over-the-air (OTA) wireless power networks that enable unprecedented levels of visibility, control, and intelligent business automation. The Company's wireless power transmitter and receiver technologies deliver continuous access to wireless power, helping drive a new generation of battery-free devices for asset and inventory tracking and management--from retail sensors, electronic shelf labels, and asset trackers to air quality monitors, motion detectors, and more. For more information, visit http://www.energous.com/ or follow on LinkedIn.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this press release are forward-looking statements. Forward-looking statements may describe our future plans and expectations and are based on the current beliefs, expectations and assumptions of Energous. These statements generally use terms such as "believe," "expect," "may," "will," "should," "could," "seek," "intend," "plan," "estimate," "anticipate" or similar terms. Examples of forward-looking statements in this release include but are not limited to statements about our financial results, expected company growth, and operational initiatives. Factors that could cause actual results to differ from current expectations include: uncertain timing of necessary regulatory approvals; timing of customer product development and market success of customer products; our dependence on distribution partners; and intense industry competition. We urge you to consider those factors, and the other risks and uncertainties described in our most recent Annual Report on Form 10-K as filed with the Securities and Exchange Commission (SEC), any subsequently filed quarterly reports on Form 10-Q as well as in other documents that may have been subsequently filed by Energous, from time to time, with the SEC, in evaluating our forward-looking statements. In addition, any forward-looking statements represent Energous' views only as of the date of this release and should not be
relied upon as representing its views as of any subsequent date. Energous does not assume any obligation to update any forward-looking statements unless required by law.
Non-GAAP Financial Measures
We have provided in this release financial information that has not been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). We use non-GAAP financial measures internally in analyzing our financial results and believe they are useful to investors, as a supplement to GAAP measures, in evaluating our ongoing operational performance. We believe that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends, and in comparing our financial results with other companies in our industry, many of which present similar non-GAAP financial measures to investors.
Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures below.
Our reported results include certain non-GAAP financial measures, including non-GAAP net loss, non-GAAP operating expenses, non-GAAP sales, marketing, general and administrative expenses (SG&A) and non-GAAP research and development expenses (R&D). Non-GAAP net loss excludes depreciation and amortization, stock-based compensation expense, severance expense, change in fair value of warrant liability, loss on extinguishment of short-term debt, and expenses from abandoned financing transaction. Non-GAAP operating expenses exclude depreciation and amortization, stock-based compensation expense, expenses from abandoned financing transaction, and severance expenses. Non-GAAP SG&A excludes depreciation and amortization and stock-based compensation expense. Non-GAAP R&D excludes depreciation and amortization and stock-based compensation expense. A reconciliation of our non-GAAP financial measures to their most directly comparable GAAP measures has been provided in the financial statement tables included below in this press release.
Contacts:
Investor Relations
IR@energous.com
Media Relations
samantha@griffin360.com
________________________________
(1) See "Non-GAAP Financial Measures" below for additional information.
Energous Corporation
BALANCE SHEETS
(in thousands, except share amounts)
(Unaudited)
As of
------------------------------------------
December 31, 2025 December 31, 2024
------------------- ---------------------
ASSETS
Current assets:
Cash and cash equivalents $ 10,401 $ 1,353
Accounts receivable, net 2,988 78
Inventory 1,509 498
Prepaid expenses and other
current assets 422 983
-------------- --------------
Total current assets 15,320 2,912
Property and equipment, net 298 356
Other assets 252 -
Operating lease right-of-use
assets 872 527
Total assets $ 16,742 $ 3,795
============== ==============
LIABILITIES AND STOCKHOLDERS'
EQUITY (DEFICIT)
Current liabilities:
Accounts payable $ 954 $ 1,852
Accrued expenses 2,095 1,135
Accrued severance expense - 28
Warrant liability - 358
Operating lease liabilities,
current portion 491 668
Short-term loan payable 88 818
Deferred revenue 27 13
Total current liabilities 3,655 4,872
Operating lease liabilities,
long-term portion 589 -
-------------- --------------
Total liabilities 4,244 4,872
-------------- --------------
Stockholders' equity
(deficit):
Common stock 1 1
Additional paid-in capital 422,530 399,362
Accumulated deficit (410,033) (400,440)
-------------- --------------
Total stockholders' equity
(deficit) 12,498 (1,077)
-------------- --------------
Total liabilities and
stockholders' equity
(deficit) $ 16,742 $ 3,795
============== ==============
Energous Corporation
STATEMENTS OF OPERATIONS
(in thousands, except share and per share amounts)
(Unaudited)
For the Year Ended December 31,
-----------------------------------------
2025 2024
-------------- ----------
Revenue $ 5,630 $ 768
Cost of revenue 3,601 756
-------------- ----------
Gross profit 2,029 12
-------------- ----------
Operating expenses:
Research and development 4,126 7,686
Sales and marketing 2,359 3,066
General and administrative 4,495 6,293
Severance expense 403 1,377
Expenses from abandoned
financing transaction 661 -
Total operating expenses 12,044 18,422
-------------- ----------
Loss from operations (10,015) (18,410)
-------------- ----------
Other income (expense), net:
Change in fair value of
warrant liability 257 262
Interest income, net 166 -
Loss on extinguishment of
short-term debt - (219)
Loss on retirement of
property and equipment (1) -
Discount fees from accounts
receivable factoring
agreements - (31)
Total other income
(expense), net 422 12
-------------- ----------
Net loss $ (9,593) $ (18,398)
============== ==========
Basic and diluted net loss per
common share $ (6.46) $ (77.16)
============== ==========
Weighted average shares
outstanding, basic and
diluted 1,485,101 238,453
============== ==========
Energous Corporation
Reconciliation of Non-GAAP Information
(in thousands)
(Unaudited)
For the Year Ended December 31,
-----------------------------------------
2025 2024
----------- -------------
Net loss (GAAP) $ (9,593) $ (18,398)
Add (subtract) the following
items:
Depreciation and
amortization * 139 196
Stock-based compensation ** 265 669
Severance expense 403 1,377
Change in fair value of
warrant liability (257) (262)
Expenses from abandoned
financing transaction 661 -
Loss on extinguishment of
short-term debt - 219
Adjusted net non-GAAP loss $ (8,382) $ (16,199)
=========== =============
* Note: Depreciation and amortization includes $1
and $4 which is included in cost of revenue for the
years ended December 31, 2025 and 2024, respectively.
** Note: Stock-based compensation includes $1 and
$6 which is included in cost of revenue for the years
ended December 31, 2025 and 2024, respectively.
Stock-based compensation excludes $16 and $130 which
is included in severance expense for the years ended
December 31, 2025 and 2024, respectively.
Total operating expenses (GAAP) $ 12,044 $ 18,422
Subtract the following items:
Depreciation and
amortization * (138) (196)
Stock-based compensation ** (264) (669)
Severance expense (403) (1,377)
Expenses from abandoned
financing transaction (661) -
Adjusted non-GAAP operating
expenses $ 10,578 $ 16,180
=========== =============
* Note: Depreciation and amortization excludes $1
and $4 which is included in cost of revenue for the
years ended December 31, 2025 and 2024, respectively.
** Note: Stock-based compensation excludes $1 and
$6 which is included in cost of revenue for the years
ended December 31, 2025 and 2024, respectively.
Stock-based compensation excludes $16 and $130 which
is included in severance expense for the years ended
December 31, 2025 and 2024, respectively.
Total research and development
expenses (GAAP) $ 4,126 $ 7,686
Subtract the following items:
Depreciation and
amortization (128) (170)
Stock-based compensation (51) (213)
Adjusted non-GAAP research and
development expenses $ 3,947 $ 7,303
=========== =============
Total sales, marketing, general
and administrative expenses
(GAAP) $ 6,854 $ 9,359
Subtract the following items:
Depreciation and
amortization (10) (26)
Stock-based compensation (213) (456)
Adjusted non-GAAP sales,
marketing, general and
administrative expenses $ 6,631 $ 8,877
=========== =============
(END) Dow Jones Newswires
March 25, 2026 07:00 ET (11:00 GMT)
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