Strong Quarterly and Annual Revenue Growth
Q1 2026 revenue of $3.1M versus $0.3M in Q1 2025, a ~933% year-over-year increase; full-year 2025 revenue of ~$5.6M, a 633% increase over 2024. The company reported five consecutive quarters of revenue growth.
Large Sequential Q4 2025 Momentum
Q4 2025 revenue was approximately $3M, representing a 139% sequential increase from Q3 2025, demonstrating accelerating commercial traction heading into 2026.
Improving Profitability Metrics
Gross margin improved to 36% in Q1 2026 from 27% in Q1 2025 (an increase of 9 percentage points). GAAP net loss narrowed to $1.7M from $3.4M year-over-year (a 51% improvement). Total operating expense fell ~$0.8M to $2.9M, a 21% YoY reduction.
Material Product Shipments and Deployments
Shipped more than 25,000 PowerBridge transmitters in 2025 and reported over 39,000 PowerBridge transmitters deployed to date. PowerBridge PRO has yielded zero returns since commercial production began in 2024.
Major Enterprise Deployments and Expansion
Two large-scale commercial deployments with Fortune 10 enterprises: one initial program across ~4,700 U.S. locations with >1,500 completed installations; the other expanded internationally with 14 completed installations and plans to complete ~35 facilities in 2026.
Product and Platform Advancement
Launched new products in 2025 including PowerBridge PRO+ (integrated gateway) and the e-Sense tag (waterproof, low-temperature capable), creating an end-to-end wireless power network solution integrated with e-Compass cloud analytics.
Regulatory and IP Advantages
Received regulatory approvals including FCC, U.K. and EU market approvals enabling commercialization across key markets; maintains a patent portfolio exceeding 300 patents, positioning regulatory and IP barriers to entry.
Partnerships and Commercial Pipeline
Active co-selling relationship with AWS (ISV Accelerate) with 50+ partner page launches (up from ~5), AWS-sponsored POCs accelerating momentum; structured pipeline spanning retail, logistics, cold chain, QSR and government customers.
Stronger Balance Sheet and Manufacturing Footprint
Raised net proceeds of approximately $31.9M through the ATM program (through March 23, 2026) resulting in cash of approximately $37M at quarter end; added a second U.S.-based contract manufacturer to support domestic procurement and address regulated customers.
Performance Differentiation
PowerBridge PRO delivers 2W conducted power (8W EIRP), stated as up to 8x the power output of nearest competition, enabling higher coverage and reliability (critical in cold chain and other mission-critical environments).