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🇺🇸 NASDAQ:WATT

Overview Earnings Dividends

Aug 08, 2024

•

Jun 30, 2024

Energous Q2 2024 Earnings Report

Energous reported financial results for the second quarter of 2024, highlighting a pivotal period focused on stabilizing operations, driving proof-of-concept conversions, and growing its backlog of confirmed orders.

Key Takeaways

Energous reported its Q2 2024 results, marking a turning point as ongoing Proofs of Concept transitioned into commercial deployments and active POCs increased to 47. The company focused on stabilizing operations and driving POC conversions.

Second quarter of 2024 represented a turning point for the Company.

Ongoing long-term Proofs of Concept (POCs) with multinational retailers concluding and transitioning into commercial deployments.

Active POCs increased to 47 as of June 30, 2024.

Focused on stabilizing and optimizing operations and technologies.

Total Revenue

$46K

Previous year: $117K

-60.7%

EPS

-$0.71

Previous year: -$1.2

-40.8%

Gross Profit

-$126K

Previous year: $34.3K

-467.2%

Cash and Equivalents

$4.86M

Previous year: $20M

-75.7%

Free Cash Flow

-$5.83M

Previous year: -$6.38M

-8.7%

Total Assets

$7.18M

Previous year: $23.5M

-69.5%

Energous

Energous

Forward Guidance

No specific forward guidance was provided in the press release.

Company Overview

Full financial data and analysis