Energous Wireless Power Q3 revenue jumps
Energous Corporation reported a 453% year-over-year increase in Q3 revenue, reaching $1.3 million, the highest since 2015. The net loss improved by 38% year-over-year, marking the lowest loss in over a decade. The company attributes its performance to strategic execution and product quality, with zero product returns since the launch of PowerBridge Pro. Energous expects to ship $4.1 million in confirmed orders within the next year and has sufficient cash to fund operations for the next 12 months. Analyst ratings indicate a "strong buy" with a median 12-month price target of $60.00, significantly above its recent closing price of $7.13.
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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
Metric Beat/Mis Actual Consensu
s s
Estimate
Q3 $1.27
Revenue mln
Q3 EPS -$1.31
Q3 Net -$2.11
Income mln
Q3 -$2.19
Operatin mln
g Income
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: For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact . (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.)
