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Sep 30, 2023
Energous Q3 2023 Earnings Report
Energous reported a net loss with increased revenue and strategic partnership expansions.
Key Takeaways
Energous Corporation reported a revenue increase of 44% compared to the previous quarter, alongside a net loss of $4.1 million, or $0.86 per share. The company highlighted strategic partnerships aimed at expanding the application of its wireless power network technology.
Revenue increased by 44% compared to Q2 2023.
Net loss was $(4.1) million, or $(0.86) per basic and diluted share.
Adjusted net non-GAAP loss was approximately $(4.2) million.
Cash and cash equivalents totaled approximately $16.6 million at the end of the quarter.
Forward Guidance
Energous will host a conference call on November 9, 2023, to discuss third-quarter financial results, recent progress, and future prospects.
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