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Dec 31, 2019
Energous Q4 2019 Earnings Report
Reported revenue of $45,643 and a net loss of $9.4 million for the fourth quarter of 2019.
Key Takeaways
Energous Corporation reported fourth-quarter financial results, with revenue reaching $45,643 and a net loss of $9.4 million, or $0.29 per share. The company highlighted recent achievements, including regulatory approval in Japan and partnerships for its WattUp wireless charging technology, expressing confidence in revenue growth for 2020.
Revenue for the fourth quarter of 2019 was $45,643.
Net loss for the quarter was $9.4 million, or $0.29 per share.
Operating expenses totaled approximately $9.5 million.
Cash and cash equivalents were $21.7 million at the end of the quarter.
Energous
Energous
Forward Guidance
Energous anticipates a revenue ramp in 2020, driven by recent technological and customer progress, including partnerships and opportunities to broaden the installed base of WattUp.
Positive Outlook
- Japan regulatory approval received for its WattUp wireless charging technology
- Partners PiBEX and SK Telesys are developing an ultra-wideband (UWB) tracking tag for POSCO, which will include integration with the WattUp RF wireless charging technology
- Availability of its smart glasses developer kits
- Confidence in a revenue ramp in 2020
- Forge ahead with several partnerships and other opportunities, including ZPower and POSCO, to help broaden the installed base of WattUp
Challenges Ahead
- Uncertain timing of necessary regulatory approvals
- Timing of customer product development
- Market success of customer products
- Dependence on distribution partners
- Intense industry competition