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WATT — Energous News Story

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Energous Wireless Power Q3 revenue jumps

Overview

Energous Q3 revenue rises 453% yr/yr to $1.3 mln, highest since 2015

Net loss for Q3 improves 38% yr/yr, lowest in over a decade

Company highlights strategic execution and product quality as performance drivers

Outlook

Company expects to ship $4.1 mln in confirmed orders within the next 12 months

Energous sees growing market adoption of its wireless power solutions

Company believes it has sufficient cash to fund operations for the next 12 months

Result Drivers

REVENUE GROWTH - Energous reports 453% yr/yr increase in Q3 revenue, driven by commercial adoption of wireless power solutions

NET LOSS IMPROVEMENT - Co reports 38% yr/yr improvement in net loss for Q3, lowest in over a decade, attributed to strategic execution

PRODUCT QUALITY - Zero product returns since PowerBridge Pro launch, highlighting focus on quality and customer satisfaction

Key Details

MetricBeat/MissActualConsensus Estimate
Q3 Revenue$1.27 mln
Q3 EPS-$1.31
Q3 Net Income-$2.11 mln
Q3 Operating Income-$2.19 mln
Analyst Coverage The one available analyst rating on the shares is "strong buy" The average consensus recommendation for the electrical components & equipment peer group is "buy." Wall Street's median 12-month price target for Energous Corp is $60.00, about 88.1% above its November 11 closing price of $7.13 Press Release: ID:nGNX2yqlc9 For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com. (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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