Energous (WATT) Q1 2026 earnings summary

Executive summary

• Achieved $3.1 million in Q1 2026 revenue, up 799% year-over-year and marking five consecutive quarters of growth, driven by major enterprise deployments and proof-of-concept projects.

• Transitioned from technology validation to volume production, deploying over 39,000 PowerBridge transmitters and scaling with Fortune 10 customer programs.

• Expanded product portfolio with PowerBridge PRO+, e-Sense tag, and e-Compass cloud platform.

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

• Strengthened balance sheet with $36.6 million in cash as of March 31, 2026, and no plans for further ATM equity usage in the next twelve months.

Financial highlights

• Q1 2026 revenue reached $3.1 million, a 799% increase from Q1 2025.

• Gross profit rose to $1.1 million, a 1,077% increase year-over-year, with gross margin at 36%.

• Operating expenses decreased by 21% 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 at quarter end.

Outlook and guidance

• Management expects current cash and anticipated receivables to meet liquidity needs for at least the next year, with no additional ATM equity raises planned.

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

• Several proof-of-concept programs in QSR, grocery, manufacturing, and government sectors are expected to reach commercial deployment decisions in 2026.

• Continued investment in scaling from R&D to commercial production; may seek additional financing if adoption is slower than expected.