Business
Energous Wireless Power Solutions Reports First Quarter 2025 Results
SAN JOSE, Calif., May 13, 2025 (GLOBE NEWSWIRE) -- Energous Corporation d/b/a Energous Wireless Power Solutions (NASDAQ: WATT) (the “Company,” “we,” or “our”), a pioneer in scalable, over-the-air (OTA) wireless power networks, today announced financial results for the first quarter ended March 31, 2025 and provided an update on recent events and Company highlights. “As the Company enters the second quarter of 2025, we have continued to focus on executing the strategic initiatives established dur
About this update from Energous Corporation
[{"type":"image","alt":"Energous","displaySize":"","headline":null,"caption":"Energous","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":79,"url":"https://media.zenfs.com/en/globenewswire.com/60bbfa7a119f9f0df1a66a9eadd492bf"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/kxd49YOj1q7LjUuKGs3A9w--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTExMTtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/60bbfa7a119f9f0df1a66a9eadd492bf","width":300,"height":79}},"lazy":false},{"type":"text","content":"SAN JOSE, Calif., May 13, 2025 (GLOBE NEWSWIRE) -- Energous Corporation d/b/a Energous Wireless Power Solutions (NASDAQ: WATT) (the “Company,” “we,” or “our”), a pioneer in scalable, over-the-air (OTA) wireless power networks, today announced financial results for the first quarter ended March 31, 2025 and provided an update on recent events and Company highlights.","length":367,"tagName":"p"},{"type":"text","content":"“As the Company enters the second quarter of 2025, we have continued to focus on executing the strategic initiatives established during 2024, including creating an efficient infrastructure and fortifying partner relationships ripe with expansion opportunities for deploying our scalable, RF-based wireless power network solutions that connect businesses with critical data, delivering operational efficiency with fewer batteries – for a smarter, more sustainable future,” said Mallorie Burak, CEO and CFO of Energous Wireless Power Solutions. “Reducing the Company’s cash burn remains a priority, with actions taken since last year resulting in annualized cost savings of approximately $7.3 million. We experienced revenue increases of over 430% in the first quarter of 2025 compared to the first quarter of the prior year, and we expect continued steady growth of revenue in the coming quarters, as we continue to strengthen relationships with key customers, secure new customers, and continue to introduce our innovative new products. A key strategic milestone for the Company was securing $13.8 million of net proceeds from our at-the-market offering program in the first quarter of 2025 to fund our growth as we pursue our strategic objectives.”","length":1249,"tagName":"p"},{"type":"text","content":"First Quarter 2025 Financial Results","length":36,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Revenue for ...