Energous (WATT) investor relations material

Executive summary

• Achieved five consecutive quarters of revenue growth, with Q1 2026 revenue of $3.1 million, up from $0.3 million year-over-year, driven by large-scale Fortune 10 and enterprise retailer deployments.

• Transitioned from technology validation to volume production and commercial deployment, with over 39,000 PowerBridge transmitters deployed and expanded proof-of-concept pipeline.

• Expanded product portfolio with PowerBridge PRO+, e-Sense tag, and e-Compass cloud platform, enabling end-to-end IoT solutions.

• Strengthened balance sheet with $37 million in cash and no plans for further ATM equity usage in 2026.

• Maintained zero product returns since 2024, emphasizing product quality as installations expand.

Financial highlights

• Q1 2026 revenue reached $3.1 million, a 933% year-over-year increase; gross margin improved to 36% from 27% in Q1 2025.

• Gross profit rose to $1.1 million, a 1,077% increase year-over-year.

• Operating expenses decreased 21% year-over-year to $2.9 million.

• Net loss narrowed to $1.7 million from $3.4 million, a 51% improvement year-over-year.

• Cash and cash equivalents totaled $36.6 million to $37 million at Q1 end.

Outlook and guidance

• Focused on converting proof-of-concept deployments, especially through AWS co-selling, into commercial revenue.

• Confident in ability to support accelerated growth with two contract manufacturers and robust cash position.

• Expects to meet liquidity requirements for the next twelve months without further ATM program use.

• Path to profitability and cash flow breakeven is increasingly visible.

• May seek additional financing if adoption is slower than expected.