Energous Q1 revenue falls 55% YoY to $96.7K; net loss $(6.7M) or $(0.08)/share

Energous Corp

2023-Q1 EPS reported -$0.08 revenue$96,676

Revenue of $96,676, down from $215,961 in Q1 2022; costs and expenses were ~$6.4M.
Net loss of $(6.7M), basic and diluted EPS $(0.08); adjusted non-GAAP net loss $(5.5M).
Cash and equivalents $26.3M at quarter end; no debt outstanding.
Partnerships with InnoTractor, Thinaer, LIXIL, SATO, Catapult, and amsOSRAM for wireless power solutions.
Japan regulatory approval for 1W WattUp PowerBridge; AirFuel RF adopted as industry standard.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Energous Corp reported first quarter ended March 31, 2023 results: revenue approximately $96,676, net income approximately $(6.7) million, EPS approximately $(0.08) per basic and diluted share.

Period: first quarter ended March 31, 2023
Revenue: approximately $96,676
Net income: approximately $(6.7) million
EPS: approximately $(0.08) per basic and diluted share
Result: reported results

Exact text from the filing

For the first quarter ended March 31, 2023, Energous reported: • Revenue of approximately $96,676, compared to $215,961 in the 2022 first quarter • Costs and expenses of approximately $6.4 million, with approximately $138,813 in cost of revenue, $3.1 million in research and development, and $3.2 million in sales, marketing, general and administrative expenses • Net loss of approximately $(6.7) million, or $(0.08) per basic and diluted share

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Source: SEC EDGAR

accession 0001193125-23-140739

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