Energous Corporation reported significant financial improvements in its latest quarterly filing, with revenues reaching $3.1 million for the three months ended March 31, 2026, compared to just $343,000 in the same period last year. This represents a remarkable increase of 799%, primarily driven by expanded commercial deployments of its Wireless Power Network (WPN) technology among multinational retailers, including two Fortune 10 companies. The company also reported a gross profit of $1.1 million, a substantial increase from $93,000 in the prior year, reflecting improved product margins as sales volume increased.
The company's operating expenses decreased to $2.9 million from $3.7 million year-over-year, largely due to a reduction in research and development costs and the absence of severance expenses that were recorded in the previous year. Notably, Energous reported a net loss of $1.7 million, a significant improvement from the $3.4 million loss reported in the same quarter of 2025. The basic and diluted loss per share was $0.43, compared to $3.55 in the prior year, reflecting the impact of a reverse stock split executed in August 2025.
Energous has made strategic advancements, including the introduction of new products such as the battery-free e-Sense tag and the e-Compass cloud-based software platform, which together provide an end-to-end wireless power-enabled IoT device monitoring solution. The company has also expanded its customer base, with two major Fortune 10 companies now utilizing its technology, and has increased its cash reserves to $36.6 million as of March 31, 2026, up from $10.4 million at the end of the previous fiscal year.
Operationally, Energous has seen a rise in customer engagement, with significant sales of its PowerBridge Pro transmitters contributing to the revenue surge. The company has also reported a decrease in inventory levels, indicating improved efficiency in its supply chain management. As of March 31, 2026, Energous had 5,501,099 shares of common stock outstanding, a notable increase from 2,200,240 shares at the end of 2025, following its recent capital raising efforts.
Looking ahead, Energous remains cautiously optimistic about its growth trajectory, emphasizing the need for continued investment in technology and market expansion. The company acknowledges that while it has sufficient liquidity to fund operations for at least the next twelve months, the adoption of its emerging technology by enterprise customers may take longer than anticipated. As such, Energous may explore additional financing options to support its ongoing operations and strategic initiatives.
About Energous Corp
Energous Corporation develops RF-based wireless power technology enabling over-the-air charging for IoT devices, sensors, and smart applications. Its solutions support near-field and at-a-distance power transfer, targeting markets such as retail, industrial, healthcare, and consumer electronics. The company’s innovative, scalable system offers a competitive edge through proprietary patents, regulatory approvals, and ecosystem partnerships, facilitating wireless energy delivery and data transfer in diverse, battery-free device ecosystems.
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