- Reports Revenue of $5.6 Million -- Posting fourth consecutive quarter of growth and highest recorded annual revenue in the Company's history -

- Lowest Quarterly Net Loss since 2013 -- Evidencing further progress toward profitability -

SAN JOSE, Calif., March 25, 2026 (GLOBE NEWSWIRE) -- Energous Corporation d/b/a Energous Wireless Power Solutions (Nasdaq: WATT) (the "Company," "we," or "our"), a leader in over-the-air (OTA) wireless power networks, today announced financial results for the year ended December 31, 2025, reporting revenue of approximately $5.6 million for the year, representing a 633% increase over 2024, and a 48% improvement in net loss compared to the prior year. The Company also provided an update on recent events and Company highlights.

During 2025, the Company demonstrated its continued focus on growth and fiscal discipline, reporting its fourth consecutive quarter of growth, with revenue of approximately $3.0 million for the three months ended December 31, 2025, representing a 139% increase from $1.3 million of revenue reported for the three months ended September 30, 2025. Improvement from the third quarter to the fourth quarter of 2025 was also evidenced by a narrowing net loss to $1.3 million for the three months ended December 31, 2025, representing a 37% improvement from a net loss of $2.1 million for the third quarter of 2025.

"We believe we have reached an inflection point investors have been waiting for--commercial deployments at scale, driving our highest recorded annual revenue to date. Our fourth consecutive quarter of revenue growth, combined with over 25,000 PowerBridge transmitters deployed with zero returns, and a Fortune 10 retailer's planned expansion from 410 to 4,700 locations, demonstrates that wireless power networks have moved from technology validation to production infrastructure," said Mallorie Burak, CEO and CFO of Energous Corporation. "The fundamentals are increasingly being proven; enterprises are choosing wireless power networks over ambient harvesting because they need guaranteed coverage."

2025 Financial Results

   -- Revenue for the year ended December 31, 2025 of approximately $5.6 
      million versus revenue of approximately $0.8 million in 2024, 
      representing a 633% improvement year-over-year. 
 
          -- Revenue in 2025 marks the highest recorded annual revenue in the 
             Company's history. 
 
   -- For the year ended December 31, 2025, gross profit was $2.0 million, 
      representing a significant increase from gross profit of approximately 
      $12,000 in the prior year. Gross margin was 36% for the year ended 
      December 31, 2025, improving from gross margin of approximately 2% for 
      the prior year. Focus on gross margin improvement remains a key 
      operational goal for 2026 and beyond, especially as the Company 
      introduces its end-to-end solution, which includes access to our 
      cloud-based software platform, e-Compass. 
 
          -- Over 25,000 PowerBridge transmitters were shipped during 2025. The 
             Company has zero product returns since commercial production of 
             its PowerBridge Pro began in 2024, underscoring that the highest 
             level of product quality remains a key priority for the Company 
             during widespread adoption of our technology. 
 
   -- GAAP operating expenses for the year ended December 31, 2025 totaled 
      $12.0 million versus $18.4 million in 2024, a 35% year over year 
      improvement. 
 
   -- Non-GAAP operating expenses(1) for 2025 were approximately $10.6 million, 
      decreasing from $16.2 million in the prior year, representing a reduction 
      of approximately $5.6 million, or 35%, from the prior year. 
 
   -- As a result of increased revenue and continued operational and 
      manufacturing cost reductions, GAAP net loss and GAAP loss per share were 
      approximately $(9.6) million, or $(6.46) per basic and diluted share, for 
      the year ended December 31, 2025, a 48% improvement versus the net loss 
      of approximately $(18.4) million, or $(77.16) per basic and diluted share, 
      for 2024. The GAAP net loss reported for 2025 represents the lowest net 
      loss for the Company since 2013 and demonstrates meaningful progress made 
      toward reaching profitability. 
 
   -- Non-GAAP net loss1 was approximately $(8.4) million for the year ended 
      December 31, 2025 versus non-GAAP net loss of approximately $(16.2) 
      million for the prior year, a 48% improvement year over year. 
 
   -- The Company reports approximately $10.4 million in cash and cash 
      equivalents as of December 31, 2025. 

Company Highlights

   -- On January 13, 2026, Energous reported highlights of 2025, a 
      transformational year of growth and platform expansion for the Company. 
 
   -- After the end of the year through March 23, 2026, the Company raised net 
      proceeds of approximately $31.9 million from additional sales under its 
      ATM program. As of March 23, 2026, our cash and cash equivalents were 
      approximately $39.4 million. We intend to use our available cash to 
      pursue strategic acquisitions and investments, to invest in research and 
      product development, other strategic initiatives, fulfillment of customer 
      demand, and for operational and general corporate purposes. 
 
   -- A multi-billion-dollar, U.S. based subsidiary of a British parent company 
      selected Energous' end-to-end Ambient IoT solution for a large-scale 
      proof-of-concept deployment that will modernize its semi-perishable 
      inventory tracking across its production and distribution operations. 
      Continuing its goal of optimizing its existing processes at a key 
      facility and improving visibility, this customer chose Energous to enable 
      real-time inventory tracking using wireless power networks, battery-free 
      sensors, gateways, and cloud analytics. 
 
   -- Energous is currently engaged in a large-scale proof-of-concept with a 
      Fortune 10 subsidiary focused on retail sales of bulk items. A primary 
      use case for this deployment is cold chain compliance monitoring at dock 
      doors, tracking pallet dwell time from point of entry through storage in 
      freezer and cooler areas. 
 
   -- Energous has achieved AWS Independent Software Vendor (ISV) Accelerate 
      status, with its partner profile now officially listed on the AWS Partner 
      Network website. This designation recognizes Energous as a validated AWS 
      partner, reinforcing the enterprise credibility of its Ambient IoT and 
      wireless power end-to-end solutions and deepening its go-to-market 
      alignment with AWS. 
 
   -- Made in the U.S.A. -- Effective March 2026, the Company expanded its 
      production capacity, launching a new contract manufacturer based in the 
      United States. This strategic initiative ensures Energous is better 
      positioned to fulfill orders for its wireless power network solutions as 
      well as service customers requiring that products be designed and 
      manufactured in the United States. 
 
   -- Energous strengthened its intellectual property portfolio with 15 new 
      patents granted in 2025, supporting the Company's long-term technology 
      leadership in wireless power networks. 

"Our customers need more than 'connected' environments--they need dependable infrastructure," concluded Burak. "Wireless power networks are to battery-free IoT what WiFi was to mobile devices: necessary infrastructure that makes the ecosystem actually work, which we are demonstrating Energous can deliver."

About Energous Wireless Power Solutions

Energous Corporation d/b/a Energous Wireless Power Solutions $(WATT)$ is pioneering scalable, over-the-air (OTA) wireless power networks that enable unprecedented levels of visibility, control, and intelligent business automation. The Company's wireless power transmitter and receiver technologies deliver continuous access to wireless power, helping drive a new generation of battery-free devices for asset and inventory tracking and management--from retail sensors, electronic shelf labels, and asset trackers to air quality monitors, motion detectors, and more. For more information, visit http://www.energous.com/ or follow on LinkedIn.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this press release are forward-looking statements. Forward-looking statements may describe our future plans and expectations and are based on the current beliefs, expectations and assumptions of Energous. These statements generally use terms such as "believe," "expect," "may," "will," "should," "could," "seek," "intend," "plan," "estimate," "anticipate" or similar terms. Examples of forward-looking statements in this release include but are not limited to statements about our financial results, expected company growth, and operational initiatives. Factors that could cause actual results to differ from current expectations include: uncertain timing of necessary regulatory approvals; timing of customer product development and market success of customer products; our dependence on distribution partners; and intense industry competition. We urge you to consider those factors, and the other risks and uncertainties described in our most recent Annual Report on Form 10-K as filed with the Securities and Exchange Commission (SEC), any subsequently filed quarterly reports on Form 10-Q as well as in other documents that may have been subsequently filed by Energous, from time to time, with the SEC, in evaluating our forward-looking statements. In addition, any forward-looking statements represent Energous' views only as of the date of this release and should not be

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