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Energous Corporation d/b/a Energous Wireless Power Solutions reports developments in over-the-air wireless power networks for ambient Internet of Things deployments. Its technology combines transmitter systems, receiver integrated circuits, software controls, hardware designs and antenna systems to deliver RF-based wireless power and data to battery-free devices used in asset and inventory tracking, electronic shelf labels, retail sensors, air-quality monitors and motion detection.
Recurring news for WATT includes earnings releases, commercial deployment updates, proof-of-concept programs across enterprise markets, PowerBridge transmitter shipments, regulatory approvals for PowerBridge Lite and PowerBridge Pro, partnerships, customer adoption, investor-conference participation and equity financing activity.
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.
Energous (NASDAQ: WATT) has announced a partnership with a global RFID leader to develop a battery-free smart tag for retail asset tracking applications. The new tag will utilize Energous' Wireless Power Network (WPN) technology to power ultra-low-power sensors and enable real-time data communication without batteries or grid connections.
The initiative targets the $4.2 billion global retail asset tracking market, which represents 30% of the total $14 billion RFID market in 2023. This collaboration marks a significant milestone in retail IoT adoption for asset and inventory tracking management.
Energous (NASDAQ: WATT) has won the 'IoT Innovation of the Year' award at the 8th annual Mobile Breakthrough Awards for its 2W PowerBridge transmitter system. The system provides wireless power networks for IoT applications, delivering continuous over-the-air energy and enabling data communication without batteries or cables. The technology combines EN3210 power amplifiers with an EN4100 SoC RF transmitter, capable of transmitting up to 8W EIRP with dual polarization and 99% device visibility.
The system is designed for enterprise applications including cold chain monitoring, fleet management, and temperature monitoring, offering improved operational efficiency and real-time data streaming for IoT devices. This breakthrough solution addresses the sustainability challenges of traditional RFID systems and battery-dependent sensors.
Energous Wireless Power Solutions (NASDAQ: WATT) has appointed Mallorie Burak as its permanent Chief Executive Officer and Board member, effective immediately. Burak, who joined the company in January 2024 as Chief Financial Officer, will continue to serve in this role alongside her new position as CEO.
With nearly 20 years of executive experience across various sectors, Burak brings a proven track record of revitalizing companies facing unique challenges. David Roberson, Chairman of the Board, expressed confidence in Burak's leadership, citing her exceptional performance as CFO and interim CEO.
Burak's appointment aims to drive Energous towards its growth and innovation goals in the wireless power technology sector, particularly as market demand for enhanced supply chain management with real-time tracking and smart inventory management increases.