WATT · Energous Corporation

Energous Corporation delivered strong Q1 2026 results with revenue of $3.1 million, a 799% year-over-year increase from $0.3 million and 1% sequential growth from Q4 2025, achieving the fifth straight quarter of revenue expansion. This growth stemmed from scaling Fortune 10 customer programs in national retail, grocery, and e-commerce, including a retail deployment targeting ~4,700 U.S. locations with over 1,500 installations completed, and international expansion with 14+ sites installed targeting 35 facilities in 2026. Gross profit rose to $1.1 million with a 36% margin, bolstered by the first quarter utilizing a new U.S.-based contract manufacturer that augmented capacity and supported domestic procurement needs. CEO Mallorie Burak highlighted the transition from technology validation to commercial deployment, now yielding results through enterprise-scale wireless power networks via the PowerBridge PRO, which maintains zero product returns since 2024 production and offers superior 99% asset visibility in fixed environments down to -30°C. Operating expenses declined to $2.9 million GAAP from $3.7 million YoY, driving a 51% reduction in GAAP net loss to $1.7 million ($0.43/share) and 36% Non-GAAP improvement to $1.6 million. Balance sheet strengthened significantly with $36.6 million in cash after raising $31.9 million net via ATM (no sales since March 19, 2026), plus $3.2 million receivables, supporting liquidity without near-term ATM reliance. Business momentum includes AWS Partner Program growth to over 50 deal launches, expanding proof-of-concept pipeline in QSR, grocery, manufacturing, and government, and U.S. manufacturing expansion for regulated sectors.