Overview

* Energous ( WATT ) Q2 revenue reaches $1 mln, highest since 2016, up 184% qtr/qtr

* Net loss improves 35% yr/yr, lowest quarterly loss in a decade

* Co announces $4 mln order backlog, indicating growing demand

Outlook

* Company expects $4 mln order backlog to ship in 2025

Result Drivers

* REVENUE GROWTH - Co attributes 184% qtr/qtr revenue increase to rising demand for wireless power network technology

* GROSS MARGIN IMPROVEMENT - Enhanced manufacturing yields and operational optimization drove gross margin to 35%

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 $975,000

Revenue

Q2 EPS -$0.08

Q2 Net -$2.79

Income mln

Q2 -$2.78

Operatin mln

g Income

Analyst Coverage

* Wall Street's median 12-month price target for Energous Corp ( WATT ) is $3.25, about 86.3% above its July 28 closing price of $0.44

Press Release:

(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.)