What is Energous Corp's earnings per share (EPS)?

Energous Corp (WATT) reported diluted earnings per share of $-6.46 for fiscal year 2025. This represents a -151.4% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Energous Corp Financials

WATT

Source SEC Filings (10-K/10-Q) Updated Mar 26, 2026 Currency USD FYE March

This page shows Energous Corp (WATT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 13 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 46/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Energous Corp has an operating margin of -177.9%, meaning the company retains $-178 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -2397.1% the prior year.

Growth

100

Energous Corp's revenue surged 633.1% year-over-year to $5.6M, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage

Energous Corp carries a low D/E ratio of 0.34, meaning only $0.34 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 95/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

With a current ratio of 4.19, Energous Corp holds $4.19 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 83/100.

Cash Flow

While Energous Corp generated -$12.4M in operating cash flow, capex of $82K consumed most of it, leaving -$12.5M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Energous Corp generates a -76.8% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100.

Piotroski F-Score Neutral

4/9

Energous Corp passes 4 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Low Quality

1.29x

For every $1 of reported earnings, Energous Corp generates $1.29 in operating cash flow (-$12.4M OCF vs -$9.6M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-50.1x

Energous Corp earns $-50.1 in operating income for every $1 of interest expense (-$10.0M vs $200K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$5.6M

YoY+633.1%

5Y CAGR+76.6%

10Y CAGR+8.5%

Energous Corp generated $5.6M in revenue in fiscal year 2025. This represents an increase of 633.1% from the prior year.

EBITDA

-$9.9M

YoY+45.8%

Energous Corp's EBITDA was -$9.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 45.8% from the prior year.

Net Income

-$9.6M

YoY+47.9%

Energous Corp reported -$9.6M in net income in fiscal year 2025. This represents an increase of 47.9% from the prior year.

EPS (Diluted)

$-6.46

YoY-151.4%

Energous Corp earned $-6.46 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 151.4% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$12.5M

YoY+29.4%

Energous Corp generated -$12.5M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 29.4% from the prior year.

Cash & Debt

$10.4M

YoY+668.7%

5Y CAGR-27.2%

10Y CAGR-10.0%

Energous Corp held $10.4M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

YoY+1115.6%

Energous Corp had 6M shares outstanding in fiscal year 2025. This represents an increase of 1115.6% from the prior year.

Margins & Returns

Gross Margin

36.0%

YoY+34.5pp

5Y CAGR-25.3pp

Energous Corp's gross margin was 36.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 34.5 percentage points from the prior year.

Operating Margin

-177.9%

YoY+2219.3pp

5Y CAGR+9566.8pp

10Y CAGR+925.2pp

Energous Corp's operating margin was -177.9% in fiscal year 2025, reflecting core business profitability. This is up 2219.3 percentage points from the prior year.

Net Margin

-170.4%

YoY+2225.2pp

5Y CAGR+9553.8pp

10Y CAGR+932.1pp

Energous Corp's net profit margin was -170.4% in fiscal year 2025, showing the share of revenue converted to profit. This is up 2225.2 percentage points from the prior year.

Return on Equity

-76.8%

5Y CAGR-11.9pp

10Y CAGR+17.4pp

Energous Corp's ROE was -76.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.

Capital Allocation

R&D Spending

$4.1M

YoY-50.1%

5Y CAGR-24.7%

10Y CAGR-14.1%

Energous Corp invested $4.1M in research and development in fiscal year 2025. This represents a decrease of 50.1% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$82K

YoY-33.3%

5Y CAGR-9.7%

10Y CAGR-22.4%

Energous Corp invested $82K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 33.3% from the prior year.

WATT Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$5.6M+633.1%	$768K+62.0%	$474K-44.3%	$851K+12.5%	$757K+131.2%	$327K
Cost of Revenue	$3.6M+376.3%	$756K+171.0%	$279K-78.2%	$1.3M	N/A	$127K
Gross Profit	$2.0M+16808.3%	$12K-93.8%	$195K+145.7%	-$426K	N/A	$201K
R&D Expenses	$4.1M-50.1%	$8.3M-23.5%	$10.8M-13.5%	$12.5M-39.3%	$20.6M+20.5%	$17.1M
SG&A Expenses	$4.5M-21.2%	$5.7M-21.6%	$7.3M-10.0%	$8.1M-10.2%	$9.0M-1.7%	$9.2M
Operating Income	-$10.0M+45.6%	-$18.4M+16.7%	-$22.1M+17.2%	-$26.7M+35.6%	-$41.4M-29.9%	-$31.9M
Interest Expense	$200K0.0%	$200K-75.3%	$809K+96.8%	$411K+7384.8%	$5K-92.3%	$71K
Income Tax	N/A	$0	$0	N/A	N/A	N/A
Net Income	-$9.6M+47.9%	-$18.4M+5.0%	-$19.4M+26.3%	-$26.3M+36.6%	-$41.4M-30.1%	-$31.8M
EPS (Diluted)	$-6.46-151.4%	$-2.57	$-4.15+38.8%	$-6.78	$-0.64	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Revenue	$1.3M+30.5%	$975K+184.3%	$343K-19.9%	$428K+86.1%	$230K+400.0%	$46K-28.1%	$64K-29.7%	$91K
Cost of Revenue	$814K+27.8%	$637K+154.8%	$250K+14.2%	$219K-28.4%	$306K+150.8%	$122K+11.9%	$109K+1111.1%	$9K
Gross Profit	$458K+35.5%	$338K+263.4%	$93K-55.5%	$209K+375.0%	-$76K0.0%	-$76K-68.9%	-$45K-154.9%	$82K
R&D Expenses	$897K-18.5%	$1.1M-7.7%	$1.2M-48.6%	$2.3M+58.0%	$1.5M-36.1%	$2.3M+5.0%	$2.2M-8.5%	$2.4M
SG&A Expenses	$1.2M-3.2%	$1.3M+43.7%	$895K+22.9%	$728K-42.0%	$1.3M-27.3%	$1.7M-13.5%	$2.0M+32.3%	$1.5M
Operating Income	-$2.2M+21.2%	-$2.8M+23.0%	-$3.6M-2.8%	-$3.5M+1.9%	-$3.6M+23.0%	-$4.7M+30.2%	-$6.7M-45.0%	-$4.6M
Interest Expense	$4K-96.0%	$100K-50.0%	$200K+1433.3%	-$15K-250.0%	$10K-82.5%	$57K-61.5%	$148K-8.1%	$161K
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$2.1M+24.2%	-$2.8M+17.2%	-$3.4M+18.5%	-$4.1M-21.0%	-$3.4M+19.9%	-$4.3M+35.5%	-$6.6M-43.3%	-$4.6M
EPS (Diluted)	$-1.31	$-0.08+33.3%	$-0.12	N/A	$-14.98-2204.6%	$-0.65+41.4%	$-1.11	N/A

WATT Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$16.7M+341.2%	$3.8M-77.2%	$16.7M-44.0%	$29.8M-42.1%	$51.4M-3.3%	$53.1M
Current Assets	$15.3M+426.1%	$2.9M-80.6%	$15.0M-45.2%	$27.4M-45.5%	$50.2M-2.4%	$51.4M
Cash & Equivalents	$10.4M+668.7%	$1.4M-90.2%	$13.9M-47.2%	$26.3M-46.4%	$49.1M-3.3%	$50.7M
Inventory	$1.5M+203.0%	$498K+15.8%	$430K+306.3%	$106K	N/A	N/A
Accounts Receivable	$3.0M+3730.8%	$78K-23.5%	$102K-28.8%	$143K-49.5%	$284K+273.9%	$76K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$4.2M-12.9%	$4.9M-5.9%	$5.2M+1.4%	$5.1M+16.4%	$4.4M+7.3%	$4.1M
Current Liabilities	$3.7M-25.0%	$4.9M+5.4%	$4.6M+20.2%	$3.8M-11.6%	$4.3M+23.8%	$3.5M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$12.5M+1260.4%	-$1.1M-109.4%	$11.5M-53.3%	$24.6M-47.5%	$47.0M-4.2%	$49.1M
Retained Earnings	-$410.0M-2.4%	-$400.4M-4.8%	-$382.0M-5.3%	-$362.7M-7.8%	-$336.4M-14.0%	-$295.0M

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$17.8M+44.6%	$12.3M-7.8%	$13.4M+252.5%	$3.8M-3.9%	$4.0M-45.0%	$7.2M-45.1%	$13.1M-21.5%	$16.7M
Current Assets	$16.6M+51.2%	$11.0M-7.7%	$11.9M+308.1%	$2.9M+2.1%	$2.9M-51.9%	$5.9M-49.3%	$11.7M-22.2%	$15.0M
Cash & Equivalents	$12.9M+48.9%	$8.7M-14.1%	$10.1M+645.4%	$1.4M-6.8%	$1.5M-70.1%	$4.9M-54.4%	$10.7M-23.2%	$13.9M
Inventory	$1.2M+80.1%	$687K+6.7%	$644K+29.3%	$498K-32.4%	$737K+32.6%	$556K-10.8%	$623K+44.9%	$430K
Accounts Receivable	$1.2M+87.2%	$663K+112.5%	$312K+300.0%	$78K-48.7%	$152K+137.5%	$64K+137.0%	$27K-73.5%	$102K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$4.1M+15.4%	$3.6M-8.2%	$3.9M-20.3%	$4.9M+38.6%	$3.5M-15.8%	$4.2M-29.7%	$5.9M+14.6%	$5.2M
Current Liabilities	$3.4M+24.7%	$2.7M-6.7%	$2.9M-40.0%	$4.9M+38.6%	$3.5M-11.8%	$4.0M-28.4%	$5.6M+20.5%	$4.6M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$13.7M+56.4%	$8.8M-7.6%	$9.5M+981.7%	-$1.1M-348.2%	$434K-85.6%	$3.0M-58.0%	$7.2M-37.8%	$11.5M
Retained Earnings	-$408.7M-0.5%	-$406.6M-0.7%	-$403.8M-0.8%	-$400.4M-1.0%	-$396.3M-0.9%	-$392.9M-1.1%	-$388.6M-1.7%	-$382.0M

WATT Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$12.4M+29.3%	-$17.6M+8.7%	-$19.2M+18.6%	-$23.6M+17.7%	-$28.7M-15.8%	-$24.8M
Capital Expenditures	$82K-33.3%	$123K-34.2%	$187K+13.3%	$165K-54.9%	$366K+167.7%	$137K
Free Cash Flow	-$12.5M+29.4%	-$17.7M+9.0%	-$19.4M+18.3%	-$23.8M+18.2%	-$29.1M-16.7%	-$24.9M
Investing Cash Flow	-$82K+33.3%	-$123K+34.2%	-$187K-13.3%	-$165K+54.9%	-$366K-167.7%	-$137K
Financing Cash Flow	$21.6M+321.5%	$5.1M-27.8%	$7.1M+596.2%	$1.0M-96.3%	$27.4M-49.2%	$54.0M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	-$2.5M+14.3%	-$2.9M+38.3%	-$4.7M-74.0%	-$2.7M+33.7%	-$4.0M+29.8%	-$5.8M-13.7%	-$5.1M-52.2%	-$3.3M
Capital Expenditures	$6K-62.5%	$16K-23.8%	$21K	$0-100.0%	$65K+14.0%	$57K+5600.0%	$1K-98.9%	$90K
Free Cash Flow	-$2.5M+14.6%	-$2.9M+38.3%	-$4.7M-74.8%	-$2.7M+34.8%	-$4.1M+29.4%	-$5.8M-14.8%	-$5.1M-48.2%	-$3.4M
Investing Cash Flow	-$6K+62.5%	-$16K+23.8%	-$21K	$0+100.0%	-$65K-14.0%	-$57K-5600.0%	-$1K+98.9%	-$90K
Financing Cash Flow	$6.7M+356.0%	$1.5M-89.0%	$13.4M+419.4%	$2.6M+264.5%	$709K+2248.5%	-$33K-101.8%	$1.9M+137.6%	$780K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

WATT Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	36.0%+34.5pp	1.6%-39.6pp	41.1%+91.2pp	-50.1%	N/A	61.3%
Operating Margin	-177.9%+2219.3pp	-2397.1%+2265.1pp	-4662.2%-1527.5pp	-3134.7%+2340.1pp	-5474.8%+4269.9pp	-9744.7%
Net Margin	-170.4%+2225.2pp	-2395.6%+1690.3pp	-4085.9%-999.5pp	-3086.4%+2387.7pp	-5474.1%+4250.1pp	-9724.2%
Return on Equity	-76.8%	N/A	-168.4%-61.8pp	-106.6%-18.4pp	-88.2%-23.3pp	-64.9%
Return on Assets	-57.3%+427.5pp	-484.8%-368.7pp	-116.1%-27.8pp	-88.3%-7.7pp	-80.6%-20.7pp	-59.9%
Current Ratio	4.19+3.6	0.60-2.6	3.25-3.9	7.12-4.4	11.56-3.1	14.65
Debt-to-Equity	0.34+4.9	-4.52-5.0	0.45+0.2	0.21+0.1	0.09+0.0	0.08
FCF Margin	-222.1%+2082.1pp	-2304.2%+1796.2pp	-4100.4%-1304.6pp	-2795.9%+1047.5pp	-3843.3%+3771.8pp	-7615.1%

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Gross Margin	36.0%+1.3pp	34.7%+7.6pp	27.1%-21.7pp	48.8%+81.9pp	-33.0%+132.2pp	-165.2%-94.9pp	-70.3%-160.4pp	90.1%
Operating Margin	-172.3%+112.9pp	-285.1%+767.6pp	-1052.8%-232.0pp	-820.8%+736.2pp	-1557.0%+8553.9pp	-10110.9%+303.2pp	-10414.1%-5363.5pp	-5050.6%
Net Margin	-166.1%+119.8pp	-285.9%+695.4pp	-981.3%-16.6pp	-964.7%+518.8pp	-1483.5%+7773.0pp	-9256.5%+1054.4pp	-10310.9%-5250.5pp	-5060.4%
Return on Equity	-15.4%+16.4pp	-31.8%+3.7pp	-35.4%	N/A	-786.2%-644.6pp	-141.6%-49.3pp	-92.2%-52.2pp	-40.1%
Return on Assets	-11.8%+10.8pp	-22.6%+2.6pp	-25.2%+83.6pp	-108.8%-22.4pp	-86.4%-27.1pp	-59.3%-8.9pp	-50.4%-22.8pp	-27.6%
Current Ratio	4.88+0.9	4.03-0.0	4.07+3.5	0.60-0.2	0.81-0.7	1.49-0.6	2.10-1.1	3.25
Debt-to-Equity	0.30-0.1	0.410.0	0.41+4.9	-4.52-12.6	8.10+6.7	1.39+0.6	0.83+0.4	0.45
FCF Margin	-194.3%+102.5pp	-296.8%+1070.2pp	-1367.1%-740.4pp	-626.6%+1161.6pp	-1788.3%+10879.1pp	-12667.4%-4739.3pp	-7928.1%-4166.6pp	-3761.5%

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Frequently Asked Questions

What is Energous Corp's annual revenue?

Energous Corp (WATT) reported $5.6M in total revenue for fiscal year 2025. This represents a 633.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Energous Corp's revenue growing?

Energous Corp (WATT) revenue grew by 633.1% year-over-year, from $768K to $5.6M in fiscal year 2025.

Is Energous Corp profitable?

No, Energous Corp (WATT) reported a net income of -$9.6M in fiscal year 2025, with a net profit margin of -170.4%.

What is Energous Corp's EBITDA?

Energous Corp (WATT) had EBITDA of -$9.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Energous Corp's gross margin?

Energous Corp (WATT) had a gross margin of 36.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Energous Corp's operating margin?

Energous Corp (WATT) had an operating margin of -177.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Energous Corp's net profit margin?

Energous Corp (WATT) had a net profit margin of -170.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Energous Corp's return on equity (ROE)?

Energous Corp (WATT) has a return on equity of -76.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Energous Corp's free cash flow?

Energous Corp (WATT) generated -$12.5M in free cash flow during fiscal year 2025. This represents a 29.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Energous Corp's operating cash flow?

Energous Corp (WATT) generated -$12.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Energous Corp's total assets?

Energous Corp (WATT) had $16.7M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Energous Corp's capital expenditures?

Energous Corp (WATT) invested $82K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Energous Corp spend on research and development?

Energous Corp (WATT) invested $4.1M in research and development during fiscal year 2025.

How many shares does Energous Corp have outstanding?

Energous Corp (WATT) had 6M shares outstanding as of fiscal year 2025.

What is Energous Corp's current ratio?

Energous Corp (WATT) had a current ratio of 4.19 as of fiscal year 2025, which is generally considered healthy.

What is Energous Corp's debt-to-equity ratio?

Energous Corp (WATT) had a debt-to-equity ratio of 0.34 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Energous Corp's return on assets (ROA)?

Energous Corp (WATT) had a return on assets of -57.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Energous Corp's cash runway?

Based on fiscal year 2025 data, Energous Corp (WATT) had $10.4M in cash against an annual operating cash burn of $12.4M. This gives an estimated cash runway of approximately 10 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Energous Corp's Piotroski F-Score?

Energous Corp (WATT) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Energous Corp's earnings high quality?

Energous Corp (WATT) has an earnings quality ratio of 1.29x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Energous Corp cover its interest payments?

Energous Corp (WATT) has an interest coverage ratio of -50.1x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Energous Corp?

Energous Corp (WATT) scores 46 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.