Energous NASDAQ: WATT reported sharply higher first-quarter revenue and a narrower loss as management said the wireless power company is moving from technology validation into commercial deployment across enterprise Internet of Things markets.
On the company’s first earnings call since 2024, Chief Executive Officer and Chief Financial Officer Mallorie Burak said Energous has reached “new milestones” on its path toward profitability and cash flow breakeven. Burak said the company’s strategy is centered on enterprise IoT applications where battery-dependent sensors and tags can be difficult or costly to maintain at scale.
Energous reported first-quarter 2026 revenue of $3.1 million, up from $0.3 million in the same period a year earlier. Chief Accounting Officer Greg Sadikoff said the quarter marked the company’s fifth consecutive quarter of revenue growth.
Cost of revenue was approximately $2 million, resulting in a gross margin of 36%, compared with 27% in the first quarter of 2025. Sadikoff said the improvement was primarily due to higher volume shipments of the company’s PowerBridge PRO transmitter. Operating expenses fell by approximately $0.8 million to $2.9 million, down 21% from $3.7 million a year earlier. The company reported a GAAP net loss of $1.7 million, compared with a net loss of $3.4 million in the prior-year period, a 51% improvement.
Management Highlights Enterprise IoT Pivot
Burak said Energous was founded in 2012 with a focus on eliminating charging constraints in consumer electronics but repositioned itself in 2022 around enterprise IoT. The company now targets use cases such as supply chain visibility, cold chain compliance, logistics, retail inventory management and asset tracking.
“Our operations and results today reflect a company that has crossed from technology validation into volume production,” Burak said.
The company’s commercial platform is built around its PowerBridge family of wireless power transmitters, led by the PowerBridge PRO, which Burak said is designed for deployment in retail, logistics, distribution, cold storage and production facilities. She said the PowerBridge PRO has shipped in meaningful volume, has had zero returns since commercial production began in 2024 and has received regulatory approvals for the U.S., U.K. and European markets.
Burak also highlighted the PowerBridge PRO+, launched in 2025 with an integrated gateway, and the e-Sense tag, which she said is waterproof, reusable and dependable in low temperatures. Energous also offers e-Compass, a cloud-based software platform intended to provide real-time asset and inventory visibility, environmental monitoring and operational analytics.
Large Enterprise Deployments Continue
Chief Strategy and Growth Officer Giampaolo Marino said Energous has active commercial deployments with two Fortune 10 enterprises. The first is with a leading national retailer focused on inventory management and cold chain compliance monitoring across retail store locations. Marino said the initial phase covers approximately 4,700 U.S. locations, with more than 1,500 installations completed as of the company’s latest update.
The second Fortune 10 deployment is with a major enterprise in e-commerce fulfillment, reverse logistics and grocery, Marino said. That program has expanded across multiple use cases and geographies, including more than 14 completed installations outside the U.S. to date. Energous plans to support installations at approximately 35 facilities in 2026 for that customer’s international infrastructure modernization project, he said.
Marino said the company believes its technology can deliver up to 99% asset visibility in fixed enterprise environments. He said PowerBridge PRO transmitters deliver 2 watts of conductive power or 1 watt EIRP, which he described as up to eight times the power output of the nearest competition.
Pipeline Includes Retail, Food Service, Manufacturing and Government
Energous is also advancing proof-of-concept programs across several sectors. Marino cited a large-scale proof of concept with a U.S.-based subsidiary of a multi-billion-dollar international parent company focused on semi-perishable inventory tracking across production and distribution operations.
The company has also started a structured proof-of-concept evaluation with a national quick service restaurant operator. Marino said the QSR vertical represents a potential market expansion for Energous in food safety, compliance, inventory visibility and environmental monitoring.
In response to an analyst question, Marino said the quick service restaurant opportunity involves a “major QSR” in the United States with thousands of retail stores nationwide.
Marino also said Energous is progressing with government and regulated-sector organizations, where domestic manufacturing, infrastructure security and system reliability are important requirements. Burak said the company added a U.S.-based contract manufacturer earlier this year, supplementing its established international manufacturing partner.
AWS Relationship Viewed as Pipeline Source
Management also discussed Energous’ relationship with Amazon Web Services. Marino said Energous is supporting proof-of-concept evaluations with enterprise customers through AWS’ ISV Accelerate Program, which he described as a co-selling relationship that gives Energous access to enterprise customer conversations at a scale it could not reach independently.
Marino said the AWS relationship is mutually beneficial because Energous pushes data into the AWS cloud, while AWS gains a solution for real-time asset tracking, cold chain monitoring and supply chain visibility. He said AWS “oftentimes” sponsors proof-of-concept projects to help customers test the technology and move more quickly toward deployment discussions.
Burak clarified that more than 50 “launches” shown on the AWS partner page do not necessarily represent more than 50 customers. She said a single customer can have multiple launches if it is testing different use cases or deploying to different facilities in stages.
Cash Position and Outlook
Burak said Energous raised net proceeds of approximately $31.9 million through its at-the-market equity program from fiscal 2025 through March 23, 2026, resulting in a cash position of approximately $37 million at the end of the first quarter. She said the company has “no plans for additional ATM usage this year.”
Management said working capital needs are rising as Energous supports multiple customer programs, including engineering support, customer integration, inventory positioning and certifications. Burak said the company believes it is well positioned to support its pipeline through commercialization with its cash balance and two contract manufacturing relationships.
For full-year 2025, Energous reported approximately $5.6 million in revenue, a 633% increase over 2024 and the highest annual revenue in the company’s history, according to Burak. She said the company shipped more than 25,000 PowerBridge transmitters in 2025 and now has more than 39,000 PowerBridge transmitters deployed.
“Our job now is execution, converting pipeline into deployments, expanding within existing customers, and scaling our platform across new industries and geographies,” Burak said.
About Energous NASDAQ: WATT
Energous Corporation develops and commercializes radio frequency (RF)–based wireless charging technology designed to deliver power over the air to compatible devices. Its WattUp platform includes near‐field and far‐field transmitters that emit targeted RF energy and receiver modules that convert that energy into electrical power. The company's solutions aim to eliminate the need for cables and charging pads by enabling contactless power delivery to a range of products, from wearables and IoT sensors to medical devices and consumer electronics.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Energous, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Energous wasn't on the list.
While Energous currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Click the link to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
