Energous Corporation is a company focused on developing cutting-edge wireless power solutions. Their primary offering is the innovative WattUp wireless power technology, ...
Energous Corporation (NASDAQ: WATT) is a San Jose, California-based pioneer in wireless power networks. Founded in 2012 as DvineWave Inc., it renamed to Energous in January 2014 and went public later that year. The company's core technology, WattUp, uses radio frequencies to charge devices at a distance, integrating chipsets, software, ...Energous Corporation (NASDAQ: WATT) is a San Jose, California-based pioneer in wireless power networks. Founded in 2012 as DvineWave Inc., it renamed to Energous in January 2014 and went public later that year. The company's core technology, WattUp, uses radio frequencies to charge devices at a distance, integrating chipsets, software, and antennas. Applications span smart home, electronic shelf labels, industrial IoT sensors, medical devices, wearables, and more. As of recent data, Energous employs 27 people and leads with CEO Mallorie Burak (appointed 2024). Financially, the company reported record revenue of $5.6 million in 2025, a 630% increase, though it still operates at a loss with negative margins. Key metrics include a market cap around $102 million, no dividends, and a high cash ratio. The company focuses on partnerships and product launches, such as battery-free sensors, to drive adoption of its ambient IoT platform. With a strong balance sheet (working capital $41.8M) and growing revenues, Energous aims to lead the wireless power industry despite ongoing operational losses.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$5.6M
+633.1%
+0.2%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-9.6M
+47.9%
-75.8%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+36.0%
+2206.5%
-91.4%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
-159.0%
+93.4%
-72.6%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-170.4%
+92.9%
-75.4%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-12.5M
+29.4%
+1.7%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
-222.1%
+90.4%
+1.9%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
9.3%
+106.8%
-10.2%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
4.19x
+601.3%
-52.6%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Good day and welcome to Energous Wireless Power Solutions Second Quarter 2026 Financial Results Conference Call. [Operator Instructions] Please note that this event is being recorded. As a reminder, during today's call, the company will make forward-looking statements. These statements are subject to inherent risk and uncertainties, detailed in the company's filings with the Securities and Exchange Commission. Actual results may differ materially from those anticipated, except as otherwise required by federal law. Energous disclaims any obligation to publicly release updates or revisions to any forward-looking statements to reflect changes in expectations. I would now like to turn the conference over to Mallorie Burak, Chief Executive Officer and Chief Financial Officer. Ma'am, please go ahead.
Mallorie Burak: Thank you, and thank you, everyone. I would like to first thank you for joining us on our Second Quarter 2026 Earnings Call. For those who joined us on the first call in May, welcome back. For those who are newer to the Energous story, I would like to encourage you to review the replay of our Q1 call, which provides a full company overview and the commercial foundation for what I will be discussing today. I will keep the background context brief today and focus on what has changed and what is building. The short answer is a great deal is building. Our active deployments are expanding in scope, geography, and use cases at a pace that gives us increasing confidence in the long-term revenue trajectory of this business. Our proof-of-concept pipeline has grown both in size and quality of the opportunities, and our technology platform has advanced in ways that are directly driving commercial demand. Before I get into the commercial updates, I want to address our second quarter financial results directly and with full transparency because the gross margin line requires context that the numbers alone do not provide. Revenue for the three and six months ended June 30, 2026, was approximately $3.1 million and $6.2 million respectively, versus approximately $1 million and $1.3 million in the same periods in 2025, a 217% and 368% improvement over the same prior period -- prior year periods. Driven by our performance in the first half of 2026, Energous achieved a new historic revenue milestone, having surpassed $10 million in revenue over the trailing 12 months. For the six months ended June 30, 2026, gross profit was $1.2 million, representing a 176% increase versus the same prior year period. Gross margin was 19% for the six months ended June 30, 2026. Gross margin during the second quarter was below the levels we achieved in the recent quarters. This was driven by three primary factors, all of which we believe are temporary in nature and associated with the execution of our long-term growth strategy. First, as we introduced important hardware enhancements across our product portfolio, all of which were driven by our Fortune 10 customers, …
