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Jun 30, 2022
Energous Q2 2022 Earnings Report
Reported a revenue increase of 26% compared to Q2 2021, alongside FCC approval for its 15W WattUp PowerBridge transmitter.
Key Takeaways
Energous Corporation reported a revenue of $233,000 for the second quarter of 2022, a 26% increase from the previous year. The company's net loss was $(7.0) million, or $(0.09) per share. They also announced FCC approval for their 15W WattUp PowerBridge transmitter and several new partnerships.
Revenue increased by 26% year-over-year, reaching approximately $233,000.
Received FCC Part 18 grant of equipment authorization for 15W WattUp PowerBridge transmitter.
Partnered with Flagship for retail deployment of Wiliot IoT Pixel smart tags.
Expanded partnership network with Sekorm in China.
Forward Guidance
Energous is excited about the FCC approval of their 15W WattUp PowerBridge, which delivers 15 times more power. They are also fulfilling additional orders of WattUp PowerBridges and are excited about their work with Flagship, which represents their first deployment of a wireless power network for RF-tags.
Positive Outlook
- FCC approval of 15W WattUp PowerBridge
- Delivering 15 times more power than previously authorized
- Fulfilling additional orders of WattUp PowerBridges
- First deployment of a wireless power network for RF-tags with Flagship
- Significant progress advancing RF-based charging for wireless power networks
Historical Earnings Impact
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Avg. Return Before/After Earnings
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