Overview

* Energous ( WATT ) 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 ( WATT ) 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 ( WATT ) 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 ( WATT ) is $60.00, about 88.1% above its November 11 closing price of $7.13

Press Release:

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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.)