Energous (WATT) Reports In-Line Q2 EPS

Energous (NASDAQ: WATT) reported Q2 EPS of ($0.20), in-line with the analyst estimate of ($0.20). Revenue for the quarter came in at $114.38 thousand versus the consensus estimate of $100 thousand.

Recent Highlights

• Energous announced a partnership with one of the world’s leading battery manufacturers in China, Grepow Battery
• Energous announced a collaboration with E Ink Holdings, "E Ink" (8069.TWO), a leading innovator in electronic ink technology, to develop WattUp-enabled Electronic Paper Display (EPD) tags for IoT displays such as logistics tags, electronic shelf labels and retail signage, offering wireless charging at distances of up to 15 feet
• Energous completed an offering of shares of its common stock, pursuant to an at-the-market equity program, raising $9.2 million in net proceeds in the second quarter
• Frost & Sullivan awarded Energous the 2020 Global Technology Innovation Award for its WattUp wireless charging technology
• Energous announced the availability of the WattUp PowerHub developer kit, based on new low cost, small footprint wireless charging technology
• Energous announced partnership with 28Gorilla to develop a wirelessly charged equestrian health tracking sensor for American Equus

“With the announcement of our WattUp PowerHub developer kit and possible expansion of the application of our technology, we’ve seen additional prospective customer interest in our next generation wireless charging solutions,” said Stephen R. Rizzone, president and CEO of Energous Corporation. “We believe we are on track to demonstrate quarterly sequential revenue growth into 2021 and we expect to see the WattUp-enabled NewSound Primo W hearing aid reach consumers soon, after delays due to the COVID-19 pandemic impacted the anticipated earlier release to the market.”

For earnings history and earnings-related data on Energous (WATT) click here.

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