Overview

• Energous Q3 revenue rises 453% yr/yr to $1.3 mln, highest since 2015

• Net loss for Q3 improves 38% yr/yr, lowest in over a decade

• Company highlights strategic execution and product quality as performance drivers

Outlook

• Company expects to ship $4.1 mln in confirmed orders within the next 12 months

• Energous sees growing market adoption of its wireless power solutions

• Company believes it has sufficient cash to fund operations for the next 12 months

Result Drivers

• REVENUE GROWTH - Energous reports 453% yr/yr increase in Q3 revenue, driven by commercial adoption of wireless power solutions

• NET LOSS IMPROVEMENT - Co reports 38% yr/yr improvement in net loss for Q3, lowest in over a decade, attributed to strategic execution

• PRODUCT QUALITY - Zero product returns since PowerBridge Pro launch, highlighting focus on quality and customer satisfaction

Key Details

Analyst Coverage

• The one available analyst rating on the shares is "strong buy"

• The average consensus recommendation for the electrical components & equipment peer group is "buy."

• Wall Street's median 12-month price target for Energous Corp is $60.00, about 88.1% above its November 11 closing price of $7.13

Press Release: ID:nGNX2yqlc9

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)