Overview
Energous 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 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 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/Miss | Actual | Consensus Estimate |
Q3 Revenue | $1.27 mln | ||
Q3 EPS | -$1.31 | ||
Q3 Net Income | -$2.11 mln | ||
Q3 Operating Income | -$2.19 mln |
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 is $60.00, about 88.1% above its November 11 closing price of $7.13
Press Release: ID:nGNX2yqlc9
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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.)
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