Energous Corp. ( (WATT) ) has released its Q1 earnings. Here is a breakdown of the information Energous Corp. presented to its investors.
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Energous Corporation, operating as Energous Wireless Power Solutions, is a leader in scalable, over-the-air wireless power networks, primarily serving industries with needs for efficient infrastructure and operational efficiency through innovative power solutions.
In its first quarter of 2025 earnings report, Energous Corporation highlighted a significant revenue increase and strategic advancements. The company reported a 436% increase in revenue compared to the same period last year, driven by the commercial adoption of its PowerBridge transmitter systems.
Key financial metrics from the report include a revenue of $0.3 million, a gross profit of $0.1 million, and a reduction in operating expenses by 44% year-over-year. The company also successfully raised $13.8 million through its at-the-market offering program, which will support its growth initiatives and customer order fulfillment.
Energous has introduced new products like the AI-driven PowerBridgeMOD and PowerBridge PRO+, which align with its mission to provide adaptable and versatile solutions for enterprise asset tracking. Additionally, the company is engaged in a large-scale infrastructure modernization project with a Fortune 10 retailer, further indicating the growing market adoption of its technology.
Looking ahead, Energous Corporation remains focused on optimizing operations and driving the adoption of its innovative wireless power technology, positioning itself for continued growth and leadership in the wireless power sector.