Energous Corp Stock Price, News & Analysis

Energous (NASDAQ: WATT) has accelerated its deployment timeline with a Fortune 10 multinational retailer to implement wireless power networks across 4,700 U.S. retail locations. The company has already shipped over 4,000 PowerBridge Pro transmitters in 2024, with installation beginning in early 2025.

The deployment aims to equip over 500 stores and multiple grocery distribution centers by the end of fiscal year 2025. The PowerBridge Pro technology offers four times the power output of competitors and enables up to 99% visibility of tracked assets and inventory, supporting both perishable and dry goods distribution.

This infrastructure modernization initiative will enable real-time asset tracking and full-scale automation with 24/7/365 data processing, providing continuous insights into inventory health, operational efficiencies, and potential risks.

Energous (NASDAQ: WATT) has unveiled two new additions to its PowerBridge wireless power network (WPN) transmitter systems: the PowerBridgeMOD and PowerBridge PRO+.

The PowerBridgeMOD features AI-backed, cloud-based software and smart antennas for enhanced asset tracking and data management. It optimizes power consumption and transmitter performance through real-time feedback loops monitoring customer-set key performance parameters.

The PowerBridge PRO+ includes an integrated gateway, offering 2W output power in WPT band and 8W EIRP, with added WiFi capability for real-time cloud data reporting. Both solutions aim to reduce total ownership costs by minimizing infrastructure hardware and battery requirements.

Proofs of Concept for the new transmitters are scheduled to begin in Q2 2025, with commercial production planned for Q4 2025.

Energous (NASDAQ: WATT) has announced significant financial developments in early 2025, raising $13.4 million through its ATM common stock equity offering program. The company has also increased the program's capacity to allow for up to $80 million in additional shares.

The raised capital, combined with cost reduction measures implemented during 2024 and Q1 2025, is expected to provide sufficient funding for at least 12 months of operations, including capital expenditures and business opportunities. The company anticipates increased orders from two multinational retail customers, with potential acceleration due to upcoming government regulations like the Food Safety Modernization Act in 2026.

As a result of these developments, Energous will withdraw its previously announced Regulation A Offering Statement and terminate the offering, having not closed any securities sales under this program. The company believes focusing on strategic cost-cutting, product sales development, and maintaining access to less dilutive financing will better serve shareholder interests.

Energous (NASDAQ: WATT) reported its 2024 financial results, showing revenue of $0.8 million, a 62% increase from $0.5 million in 2023. The company experienced a significant shift in revenue composition, with 88% generated from PowerBridge transmitter sales.

Key financial metrics include:

• Q4 2024 revenue: $0.4 million (86% growth from Q3)
• Operating expenses: $19.2 million (down from $22.6 million in 2023)
• Net loss: $(18.4) million or $(2.57) per share (improved from $(19.4) million in 2023)
• Cash position: $11.7 million as of February 25, 2025

Notable achievements include securing a project with a Fortune 10 retailer for PowerBridge transmitter deployment across 4,700+ locations, winning the Mobile Breakthrough Award, and being granted 13 new patents in 2024.

Energous (NASDAQ: WATT) has joined the Amazon Web Services (AWS) Partner Network (APN), a global community of AWS Partners. This partnership aims to enhance supply chain visibility and compliance with the Food Safety Modernization Act (FSMA) 204.

Energous' PowerBridge transmitters will enable AWS customers to track real-time metrics, such as perishable food temperatures, through their IoT infrastructure. This capability allows quick identification and removal of potentially harmful products before market distribution, while maintaining secure cloud-based tracking data for compliance.

The company's RF-based wireless power network (WPN) solutions enable connected devices like sensors and tags to continuously provide critical enterprise data to cloud networks without batteries or cables. As an APN member, Energous joins a network of 130,000 Partners from over 200 countries working with AWS to deliver innovative solutions.

Energous (NASDAQ: WATT), a pioneer in scalable, over-the-air wireless power networks (WPNs), has announced significant achievements and growth in 2024. The company secured multiple prestigious awards, including IoT Breakthrough Award for Connected Retail Innovation and Mobile Breakthrough Award for IoT Innovation.

Key business developments include a scalable contract with a Fortune 10 retailer, multiple orders from a multinational retailer for grocery distribution, and engagement to develop battery-free smart tags. The company received full FCC certification for its 2W PowerBridge transmitter and shipped initial orders to a multinational technology company.

Financially, Energous completed growth funding of approximately $11.4 million through its at-the-market offering program, supporting 2025 growth initiatives. The company is also conducting a non-traded convertible preferred offering to the crowd community. Under CEO Mallorie Burak's leadership, Energous focuses on three key initiatives: gaining commercial accounts traction, demonstrating WPN solution value, and optimizing operations.

Energous (NASDAQ: WATT) has won the 'IoT Connected Retail Innovation of the Year' award at the 9th annual IoT Breakthrough Awards program for its innovative 2W PowerBridge transmitter system. This breakthrough technology provides continuous wireless power to IoT devices while serving as data links for cloud communication.

The system features dual EN3210 power amplifiers and an EN4100 System-on-Chip RF transmitter, capable of transmitting up to 8W Effective Isotropic Radiated Power with dual polarization, achieving 99% visibility of connected devices. This technology enables retail organizations to digitally monitor and optimize their supply chain in real-time, ensuring efficient product placement and management.

The PowerBridge system is specifically designed for enterprise IoT applications, including supply chain visibility, cold chain monitoring, fleet management, and temperature/humidity monitoring, addressing the important need for power over distance in asset and inventory tracking across multiple zones.

Energous (NASDAQ: WATT) has secured the first phase of a multi-stage project with a Fortune 10 retailer. The initial phase includes shipping over 1,500 Energous 2W PowerBridge transmitter systems by year-end, valued at approximately $0.3 million. These systems will be installed in Q1 2025 across 140 US retail locations, as part of a larger modernization program targeting 4,700 retail locations over 3-5 years. The technology demonstrated up to 99% visibility of tracked assets and inventory during the 2023 proof of concept phase, leading to expanded implementation for both dry goods and perishable goods distribution.

Energous (NASDAQ: WATT) reported Q3 2024 financial results with revenue of $230,000, up 36% year-over-year. The company reduced its net loss to $(3.4) million, or $(0.50) per share, compared to $(4.1) million in Q3 2023. Total costs decreased to $3.8 million from $5.3 million year-over-year.

The company achieved its highest quarter for commercial PowerBridge transmitter system shipments since Q4 2021, with $0.2 million in backlog. Active Proof of Concept trials increased 19% to 56. Notable developments include orders from a Fortune 10 retail organization and FCC certification for the 2W PowerBridge transmitter.