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Dec 31, 2021
Energous Q4 2021 Earnings Report
Energous reported increased revenue and advancements in wireless power network technology.
Key Takeaways
Energous Corporation reported a significant increase in revenue for the fourth quarter of 2021, driven by advancements in its RF-based charging for wireless power networks. The company secured key regulatory approvals and formed strategic partnerships, expanding its global ecosystem. While operating expenses remained high, cash reserves were maintained at a solid level.
Revenue increased significantly to $225,404 compared to Q4 2020.
The company secured regulatory approvals for its WattUp PowerBridge transmitter in Canada and Asia.
Energous' 10W WattUp PowerHub received FCC Part 18 grant for conducted wireless power transfer.
A net loss of $9.4 million, or $0.13 per basic and diluted share was reported.
Energous
Energous
Forward Guidance
Energous is focused on expanding the reach and ecosystem of its wireless power transfer technology. The company is well-positioned to support the rollout of wireless power networks that transform the way consumers and industries charge and power devices.
Positive Outlook
- Advancing RF-based charging for wireless power networks
- Securing important regulatory approvals
- Forming key partnerships
- Expanding the reach and ecosystem of wireless power transfer technology
- Supporting the rollout of wireless power networks
Challenges Ahead
- Uncertain timing of necessary regulatory approvals
- Timing of customer product development and market success of customer products
- Dependence on distribution partners
- Intense industry competition
- Potential need to secure additional governmental approvals