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Dec 31, 2022
Energous Q4 2022 Earnings Report
Energous reported a decrease in revenue and net loss for Q4 2022, while highlighting partnership momentum and company achievements.
Key Takeaways
Energous Corporation reported Q4 2022 revenue of $179,000, a decrease from $225,000 in Q4 2021. The net loss was $(6.1) million, an improvement from $(9.4) million in the same quarter of the previous year. The company ended the quarter with $26.3 million in cash and cash equivalents and focused on partnership momentum and company highlights.
Revenue was approximately $179,000, compared to $225,000 in Q4 2021.
Total costs and expenses were approximately $6.5 million, down from $9.6 million in Q4 2021.
Net loss was approximately $(6.1) million, or $(0.08) per basic and diluted share, compared to $(9.4) million, or $(0.13) per basic and diluted share, in Q4 2021.
Cash and cash equivalents totaled approximately $26.3 million at the end of Q4 2022.
Energous
Energous
Forward Guidance
Energous is focused on increasing customer deployments of its technology to drive adoption and revenue growth in 2023 by delivering technical leadership, expanding partnerships, and securing customer success through production ramps.
Positive Outlook
- Increasing customer deployments of our technology
- Drive adoption
- Revenue growth
- Delivering technical leadership
- Expanding our partnerships
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