Energous Wireless Power Solutions Reports First Quarter 2026 Results
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Rhea-AI Summary
Energous Wireless Power Solutions (Nasdaq: WATT) reported Q1 2026 revenue of approximately $3.1 million, up 1% quarter over quarter and 799% year over year, marking its fifth consecutive quarter of revenue growth.
Gross profit reached $1.1 million with 36% margin; GAAP net loss improved to $1.7 million. The company ended the quarter with $36.6 million in cash and raised $31.9 million via its ATM program, while expanding Fortune 10 deployments, AWS Partner activity, and U.S. manufacturing capacity.
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AI-generated analysis. Not financial advice.
Positive
- Revenue of approximately $3.1 million, up 799% year over year and 1% sequentially
- Gross profit of $1.1 million and 36% gross margin in Q1 2026
- GAAP net loss reduced to about $1.7 million, a 51% year-over-year improvement
- Cash and cash equivalents of approximately $36.6 million as of March 31, 2026
- Raised $31.9 million of net proceeds under ATM program during Q1 2026
- Two active Fortune 10 commercial deployments with ~1,500 retail installations completed
- Second U.S.-based contract manufacturer live, increasing production capacity
Negative
- Company remains unprofitable with GAAP net loss of approximately $1.7 million in Q1 2026
- Non-GAAP operating expenses increased to about $2.9 million from $2.5 million year over year
- Non-GAAP net loss of approximately $1.6 million for Q1 2026
- Significant use of ATM equity program in Q1 2026 to raise $31.9 million
Key Figures
Q1 2026 revenue: $3.1M
Q1 2026 gross profit: $1.1M
Q1 2026 gross margin: 36%
+5 more
8 metrics
Q1 2026 revenue
$3.1M
Quarter ended March 31, 2026; +1% QoQ, +799% YoY
Q1 2026 gross profit
$1.1M
Quarter ended March 31, 2026; +1,077% vs prior-year period
Q1 2026 gross margin
36%
First quarter using new U.S.-based contract manufacturer
GAAP operating expenses
$2.9M
Q1 2026 vs $3.7M in Q1 2025
GAAP net loss
$1.7M ($0.43/share)
Q1 2026; 51% improvement vs Q1 2025
Non-GAAP net loss
$1.6M
Q1 2026; 36% improvement vs prior-year period
Cash & equivalents
$36.6M
Balance as of March 31, 2026
ATM net proceeds
$31.9M
Raised under ATM program during three months ended March 31, 2026
Market Reality Check
Price: $25.86
Vol: Volume 334,853 is at 0.58...
low vol
$25.86
Last Close
Volume
Volume 334,853 is at 0.58x the 20-day average of 575,985, indicating subdued pre-news trading.
low
Technical
Shares at $25.86 are trading above the 200-day MA of $10.70 and 614.34% above the 52-week low but 30.07% below the 52-week high.
Peers on Argus
WATT was up 0.66% pre-release, while momentum peers SOBR and LGL showed declines...
2 Down
WATT was up 0.66% pre-release, while momentum peers SOBR and LGL showed declines of about -3.34% and -2.71%, pointing to stock-specific dynamics rather than a broad sector move.
Common Catalyst
Only one peer (ASTC) had an earnings headline today, suggesting limited, stock-specific news flow rather than a coordinated sector catalyst.
Previous Earnings Reports
5 past events · Latest: Mar 25 (Positive)
Same Type
Pattern
5 events
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Mar 25 | Fiscal 2025 results | Positive | -5.0% | Reported record 2025 revenue, improved margins, and stronger balance sheet metrics. |
| Jan 13 | Preliminary 2025 results | Positive | -6.2% | Preliminary 2025 figures showed >630% revenue growth and sharply lower net loss. |
| Nov 12 | Q3 2025 earnings | Positive | +2.5% | Q3 2025 revenue and gross margin improved with continued progress toward profitability. |
| Jul 29 | Q2 2025 earnings | Positive | -1.0% | Q2 2025 delivered highest quarterly revenue since 2016 and decade-low net loss. |
| May 13 | Q1 2025 earnings | Positive | -5.6% | Q1 2025 showed major revenue growth, lower expenses, and new Fortune 10 partnership. |
Pattern Detected
Across the last five earnings-related releases, WATT often reported strong growth and improving losses, yet the stock moved negatively on four of those occasions, indicating a pattern of post-earnings selling pressure.
Recent Company History
Over the past year, Energous’ earnings releases have highlighted rapid revenue growth and improving margins. Events on May 13, 2025, Jul 29, 2025, Nov 12, 2025, Jan 13, 2026, and Mar 25, 2026 showed accelerating sales, narrower net losses, and expanding product and patent portfolios. Despite these operational gains, four of the five earnings events saw negative next-day price moves. Today’s Q1 2026 results extend the growth and margin narrative within this ongoing transition toward scale.
Historical Comparison
-3.0% avg move · Over the last five earnings releases, WATT’s average next-day move was -3.05%, with most selloffs fo...
earnings
-3.0%
Average Historical Move
earnings
Over the last five earnings releases, WATT’s average next-day move was -3.05%, with most selloffs following otherwise positive financial updates.
Earnings updates have tracked Energous’ transition from early commercialization in 2025 to scaled deployments by early 2026, with revenue climbing from sub‑$1M quarters to multi‑million levels while net losses and operating expenses steadily improved.
Regulatory & Risk Context
Active S-3 Shelf
Shelf Active
Active S-3 Shelf Registration
2025-12-16
An effective S-3/A filed on Dec 16, 2025 registers 51,107 shares of common stock for resale by existing warrant holders from a prior registered direct and warrant inducement. The filing highlights potential downward pressure from resales and dilution from future equity or convertible securities, alongside continued reliance on capital markets for funding.
Market Pulse Summary
This announcement highlights Energous’ Q1 2026 revenue of $3.1M, its fifth consecutive quarter of gr...
Analysis
This announcement highlights Energous’ Q1 2026 revenue of $3.1M, its fifth consecutive quarter of growth, with gross margin at 36% and GAAP net loss improving to $1.7M. Cash stood at $36.6M after raising $31.9M via an ATM program, while Fortune 10 deployments and international installations expanded. Investors may focus on sustaining growth, further loss reduction, customer concentration, and how existing resale-registered shares and prior equity raises factor into future capital needs.
Key Terms
at-the-market offering, FCC
2 terms
at-the-market offering financial
"the Company raised $31.9 million of net proceeds under its at-the-market offering (ATM) program."
An at-the-market offering is a method companies use to sell new shares of stock directly into the open market over time, rather than all at once. This allows them to raise money gradually, similar to selling small pieces of a product instead of a large batch. For investors, it means the company can access funding more flexibly, but it may also increase the supply of shares and influence the stock’s price.
FCC regulatory
"the only FCC, EU, and UK certified technology at 2W conducted power."
The FCC is the U.S. government agency that regulates radio, television, satellite, cable and wireless communications. Its decisions are like traffic signals for companies that use airwaves or communications networks: they grant licenses, approve or block mergers, set technical rules and enforce penalties, all of which can change a company’s ability to operate, sell products or compete — and therefore affect revenue, costs and investor returns.
AI-generated analysis. Not financial advice.
– Reports Revenue of
– Posting Fifth Consecutive Quarter of Revenue Growth
– Conference Call Today at 4:30 p.m. Eastern Time
SAN JOSE, Calif., May 13, 2026 (GLOBE NEWSWIRE) -- Energous Corporation d/b/a Energous Wireless Power Solutions (Nasdaq: WATT) (“Energous,” the “Company,” “we,” or “our”), a pioneer in scalable, over-the-air wireless power networks, today announced financial results for the first quarter ended March 31, 2026, reporting revenue of approximately
“The first quarter of 2026 marked a defining moment in Energous' evolution,” said Mallorie Burak, CEO and CFO of Energous. “Having successfully stabilized the business over the last two years and completed our transition from technology validation to commercial deployment, we are now scaling by growing our Fortune 10 customer programs and expanding our proof-of-concept pipeline – resulting in a fifth consecutive quarter of revenue growth. The foundation we built over the past two years is now producing results, and we believe the trajectory reflects the full potential of what wireless power networks can deliver at enterprise scale.”
First Quarter 2026 Financial Results
| • | Revenue for the quarter ended March 31, 2026 of approximately | |
| • | For the quarter ended March 31, 2026, gross profit was | |
| • | The Company has maintained its quality performance record, with zero product returns since commercial production of its PowerBridge PRO began in 2024. Ensuring the highest level of product quality remains a key priority for the Company as we work toward widespread adoption of our technology. | |
| • | GAAP operating expenses for the first quarter of 2026 totaled | |
| • | As a result of increased revenue and continued operational efficiencies, GAAP net loss and GAAP loss per share were approximately | |
| • | Non-GAAP operating expenses¹ for the first quarter of 2026 were approximately | |
| • | Non-GAAP net loss¹ was approximately | |
| • | Approximately | |
Company Highlights and Updates
__________________________
¹ See “Non-GAAP Financial Measures” below for additional information.
| • | During the three months ended March 31, 2026, the Company raised |
| • | Participation in the AWS Partner Program continues to gain momentum, with Energous earning the ISV Accelerate qualification and increasing the posted deal launches on the AWS Partner site to over fifty, as of April 30, 2026 – a launch being indicative of a customer’s issuance of a purchase order. A single customer may have multiple launches, as the enterprise expands deployments and testing across multiple use cases and locations. |
| • | Two Fortune 10 commercial deployments: These are active, revenue-generating programs with leading enterprises in national retail, grocery, and e-commerce fulfillment, with the retail program targeting ~4,700 U.S. locations with over 1,500 installations completed to date. |
| • | International expansion: Second Fortune 10 deployment extended beyond the U.S., leveraging Energous’ EU and UK certified PowerBridge Pro, with 14+ international installations completed and approximately 35 facilities targeted for 2026. |
| • | Unmatched technology performance: In fixed enterprise environments, we are the only provider capable of delivering up to |
| • | Expanding proof-of-concept pipeline: Active structured evaluations in Quick Service Restaurant (QSR), grocery, manufacturing, and government sectors, with several programs expected to reach commercial deployment decisions in 2026. |
| • | U.S. manufacturing expansion: Our second contract manufacturer based entirely in the United States went live in the first quarter of 2026, increasing capacity and unlocking access to enterprise customers with domestic procurement requirements and positioning Energous to pursue government and regulated-sector opportunities. |
| • | Energous will be participating in a fireside chat at Planet MicroCap Las Vegas 2026 Powered by MicroCapClub on Wednesday, June 17, 2026 at 12:30pm (Pacific Time). The live presentation may be viewed via the following link: ENERGOUS WEBCAST. “Enterprises are choosing wireless power networks over autonomous ambient harvesting alternatives because they need guaranteed, reliable power delivery,” added Burak. “Energous’ technology serves as the backbone of enterprise grade wireless power network infrastructure, providing the dedicated power necessary to consistently and frequently transmit data to the cloud.” Webcast and Conference Call Information As previously announced, the Company is resuming earnings calls, starting this afternoon, May 13, 2026 at 4:30 p.m. Eastern Time, to review the first quarter results and provide an update on recent corporate highlights. The call will be via webcast, and interested parties may access the call using this LINK. Information about the call and a webcast replay will be available after the conference call at ir.energous.com. About Energous Wireless Power Solutions Energous Corporation d/b/a Energous Wireless Power Solutions (NASDAQ: WATT) is pioneering scalable, over-the-air wireless power networks that enable unprecedented levels of visibility, control, and intelligent business automation. The Company’s wireless power transmitter and receiver technologies deliver continuous access to wireless power, helping drive a new generation of battery-free devices for asset and inventory tracking and management—from retail sensors, electronic shelf labels, and asset trackers to air quality monitors, motion detectors, and more. For more information, visit www.energous.com/ or follow on LinkedIn. Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this press release are forward-looking statements. Forward-looking statements may describe our future plans and expectations and are based on the current beliefs, expectations and assumptions of Energous. These statements generally use terms such as “believe,” “expect,” “may,” “will,” “should,” “could,” “seek,” “intend,” “plan,” “estimate,” “anticipate” or similar terms. Examples of forward-looking statements in this release include but are not limited to statements about our financial results, expected company growth, and operational initiatives. Factors that could cause actual results to differ from current expectations include: uncertain timing of necessary regulatory approvals; timing of customer product development and market success of customer products; our dependence on distribution partners; and intense industry competition. We urge you to consider those factors, and the other risks and uncertainties described in our most recent Annual Report on Form 10-K as filed with the Securities and Exchange Commission (SEC), any subsequently filed quarterly reports on Form 10-Q as well as in other documents that may have been subsequently filed by Energous, from time to time, with the SEC, in evaluating our forward-looking statements. In addition, any forward-looking statements represent Energous’ views only as of the date of this release and should not be relied upon as representing its views as of any subsequent date. Energous does not assume any obligation to update any forward-looking statements unless required by law. Non-GAAP Financial Measures We have provided in this release financial information that has not been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). We use non-GAAP financial measures internally in analyzing our financial results and believe they are useful to investors, as a supplement to GAAP measures, in evaluating our ongoing operational performance. We believe that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends, and in comparing our financial results with other companies in our industry, many of which present similar non-GAAP financial measures to investors. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures below. Our reported results include certain non-GAAP financial measures, including non-GAAP net loss, non-GAAP operating expenses, non-GAAP sales, marketing, general and administrative expenses (SG&A) and non-GAAP research and development expenses (R&D). Non-GAAP net loss excludes depreciation and amortization, stock-based compensation expense, severance expense, change in fair value of warrant liability, and expenses related to the abandonment of financing transactions. Non-GAAP operating expenses exclude depreciation and amortization, stock-based compensation expense, expenses related to the abandonment of financing transactions, and severance expenses. Non-GAAP SG&A excludes depreciation and amortization and stock-based compensation expense. Non-GAAP R&D excludes depreciation and amortization and stock-based compensation expense. A reconciliation of our non-GAAP financial measures to their most directly comparable GAAP measures has been provided in the financial statement tables included below in this press release. Contacts: Investor Relations IR@energous.com Media Relations samantha@griffin360.com |
| Energous Corporation | ||||||||
| CONDENSED BALANCE SHEETS | ||||||||
| (Unaudited) | ||||||||
| (in thousands) | ||||||||
| As of | ||||||||
| March 31, 2026 | December 31, 2025 | |||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 36,605 | $ | 10,401 | ||||
| Accounts receivable, net | 3,201 | 2,988 | ||||||
| Inventory | 1,257 | 1,509 | ||||||
| Prepaid expenses and other current assets | 3,149 | 422 | ||||||
| Total current assets | 44,212 | 15,320 | ||||||
| Property and equipment, net | 302 | 298 | ||||||
| Other assets | 304 | 252 | ||||||
| Operating lease right-of-use assets | 772 | 872 | ||||||
| Total assets | $ | 45,590 | $ | 16,742 | ||||
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 907 | $ | 954 | ||||
| Accrued expenses | 831 | 2,095 | ||||||
| Operating lease liabilities, current portion | 515 | 491 | ||||||
| Short-term loan payable | 35 | 88 | ||||||
| Deferred revenue | 97 | 27 | ||||||
| Total current liabilities | 2,385 | 3,655 | ||||||
| Operating lease liabilities, long-term portion | 446 | 589 | ||||||
| Total liabilities | 2,831 | 4,244 | ||||||
| Stockholders’ equity: | ||||||||
| Common stock | 1 | 1 | ||||||
| Additional paid-in capital | 454,447 | 422,530 | ||||||
| Accumulated deficit | (411,689 | ) | (410,033 | ) | ||||
| Total stockholders’ equity | 42,759 | 12,498 | ||||||
| Total liabilities and stockholders’ equity | $ | 45,590 | $ | 16,742 | ||||
| Energous Corporation | ||||||||
| STATEMENTS OF OPERATIONS | ||||||||
| (Unaudited) | ||||||||
| (in thousands, except share and per share amounts) | ||||||||
| For the Three Months Ended March 31, | ||||||||
| 2026 | 2025 | |||||||
| Revenue | $ | 3,082 | $ | 343 | ||||
| Cost of revenue | 1,987 | 250 | ||||||
| Gross profit (loss) | 1,095 | 93 | ||||||
| Operating expenses: | ||||||||
| Research and development | 1,014 | 1,192 | ||||||
| Sales and marketing | 539 | 589 | ||||||
| General and administrative | 1,388 | 895 | ||||||
| Severance expense | - | 372 | ||||||
| Expenses from abandoned financing transaction | - | 656 | ||||||
| Total operating expenses | 2,941 | 3,704 | ||||||
| Loss from operations | (1,846 | ) | (3,611 | ) | ||||
| Other income (expense), net: | ||||||||
| Change in fair value of warrant liability | - | 267 | ||||||
| Interest income (expense), net | 190 | (22 | ) | |||||
| Total other income (expense), net | 190 | 245 | ||||||
| Net loss | $ | (1,656 | ) | $ | (3,366 | ) | ||
| Basic and diluted net loss per common share | $ | (0.43 | ) | $ | (3.55 | ) | ||
| Weighted average shares outstanding, basic and diluted | 3,882,415 | 948,109 | ||||||
| Energous Corporation | ||||||||
| Reconciliation of Non-GAAP Information | ||||||||
| (Unaudited) | ||||||||
| (in thousands) | ||||||||
| For the Three Months Ended March 31, | ||||||||
| 2026 | 2025 | |||||||
| Net loss (GAAP) | $ | (1,656 | ) | $ | (3,366 | ) | ||
| Add (subtract) the following items: | ||||||||
| Depreciation and amortization | 34 | 45 | ||||||
| Stock-based compensation * | 50 | 95 | ||||||
| Severance expense | - | 372 | ||||||
| Expenses from abandoned financing transaction | - | 656 | ||||||
| Change in fair value of warrant liability | - | (267 | ) | |||||
| Adjusted net non-GAAP loss | $ | (1,572 | ) | $ | (2,465 | ) | ||
| * Stock-based compensation excludes | ||||||||
| Total operating expenses (GAAP) | $ | 2,941 | $ | 3,704 | ||||
| Subtract the following items: | ||||||||
| Depreciation and amortization | (34 | ) | (45 | ) | ||||
| Stock-based compensation * | (50 | ) | (95 | ) | ||||
| Severance expense | - | (372 | ) | |||||
| Expenses from abandoned financing transaction | - | (656 | ) | |||||
| Adjusted non-GAAP operating expenses | $ | 2,857 | $ | 2,536 | ||||
| * Stock-based compensation excludes | ||||||||
| Total research and development expenses (GAAP) | $ | 1,014 | $ | 1,192 | ||||
| Subtract the following items: | ||||||||
| Depreciation and amortization | (32 | ) | (43 | ) | ||||
| Stock-based compensation | (19 | ) | (9 | ) | ||||
| Adjusted non-GAAP research and development expenses | $ | 963 | $ | 1,140 | ||||
| Total sales, marketing, general and administrative expenses (GAAP) | $ | 1,927 | $ | 1,484 | ||||
| Subtract the following items: | ||||||||
| Depreciation and amortization | (2 | ) | (2 | ) | ||||
| Stock-based compensation | (31 | ) | (86 | ) | ||||
| Adjusted non-GAAP sales, marketing, general and administrative expenses | $ | 1,894 | $ | 1,396 | ||||
FAQ
What were Energous (NASDAQ: WATT) Q1 2026 revenue results?
Energous reported Q1 2026 revenue of approximately $3.1 million. According to Energous, this represents a 1% increase versus Q4 2025 and a 799% increase versus Q1 2025, marking the company’s fifth consecutive quarter of revenue growth.
How did Energous’ Q1 2026 net loss compare to the prior year?
Energous’ GAAP net loss for Q1 2026 was about $1.7 million. According to Energous, this compares with a net loss of approximately $3.4 million in Q1 2025, reflecting a 51% year-over-year improvement in GAAP net loss and loss per share.
What was Energous’ cash position as of March 31, 2026 (WATT)?
Energous ended March 31, 2026 with approximately $36.6 million in cash and cash equivalents. According to Energous, it raised $31.9 million of net proceeds during Q1 2026 under its at-the-market offering program and expects to meet liquidity requirements without using the ATM over the next year.
How are Energous’ Fortune 10 deployments progressing in 2026?
Energous reports two active Fortune 10 commercial deployments generating revenue. According to Energous, one retail program targets about 4,700 U.S. locations with over 1,500 installations completed, while a second deployment is expanding internationally with 14+ installations and roughly 35 facilities targeted for 2026.
What margin and gross profit did Energous achieve in Q1 2026?
Energous generated Q1 2026 gross profit of approximately $1.1 million. According to Energous, gross margin was 36% for the quarter, reflecting its first quarter of augmented capacity using a new U.S.-based contract manufacturer as it scales wireless power hardware production.
How much did Energous spend on operating expenses in Q1 2026?
GAAP operating expenses for Energous were about $2.9 million in Q1 2026. According to Energous, this compares with $3.7 million in the same period of 2025, while non-GAAP operating expenses were approximately $2.9 million versus $2.5 million a year earlier.