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Energous
(NASDAQ:WATT)
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Rating:48Neutral
Price Target:
$9.50
▼(-15.71% Downside)
Action:Reiterated
Date:10/14/26
The score is held back primarily by weak financial performance (persistent losses and significant cash burn) and bearish technicals (price below major moving averages with negative MACD). These are partially offset by a constructive earnings-call read-through showing strong year-over-year revenue momentum, improving commercialization signals, and solid liquidity, while valuation remains hard to support due to negative earnings and no indicated dividend yield.
Positive Factors
Accelerating Revenue Growth
Rapid year-over-year revenue growth and a trailing-twelve-month milestone above $10M indicate improving adoption of Energous’s wireless power offerings. If deployments continue converting, greater scale should strengthen operating leverage, commercial credibility, and the company’s ability to fund expansion.
Negative Factors
Persistent Cash Burn
Negative operating and free cash flow show that the current business remains dependent on external funding or a substantial improvement in operating performance. Continued cash consumption can constrain investment, reduce financial flexibility, and create execution pressure while commercialization scales.
Read all positive and negative factors
Positive Factors
Negative Factors
Accelerating Revenue Growth
Rapid year-over-year revenue growth and a trailing-twelve-month milestone above $10M indicate improving adoption of Energous’s wireless power offerings. If deployments continue converting, greater scale should strengthen operating leverage, commercial credibility, and the company’s ability to fund expansion.
Read all positive factors
Energous (WATT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$46.65M
Dividend YieldN/A
Average Volume (3M)141.06K
Price to Earnings (P/E)―
Beta (1Y)1.13
Revenue Growth430.52%
EPS Growth90.43%
CountryUS
Employees27
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)-2.87
Shares Outstanding5,527,071
10 Day Avg. Volume128,053
30 Day Avg. Volume141,060
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.47
Price to Sales (P/S)1.05
P/FCF Ratio-0.47
Enterprise Value/Market Cap2.20
Enterprise Value/Revenue9.77
Enterprise Value/Gross Profit37.23
Enterprise Value/Ebitda-13.33
Forecast
1Y Price Target
$28.25Price Target Upside150.67% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-2.03
Revenue Forecast (FY)$15.38M
Energous Business Overview & Revenue Model
Company Description
Energous Corporation is a company focused on developing cutting-edge wireless power solutions. Their primary offering is the innovative WattUp wireless power technology, a complete system designed to charge electronic devices using radio frequenci...
How the Company Makes Money
Energous makes money primarily by monetizing its wireless power intellectual property and related productization around the WattUp ecosystem. Revenue sources include: (1) licensing of its patented wireless power technology and associated know-how ...
Energous Earnings Call Summary
Earnings Call Date:Aug 12, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 05, 2026
Earnings Call Sentiment Positive
The call conveyed strong commercial momentum and materially improved revenue and pipeline quality: revenue grew substantially year-over-year (Q2 +217% and six months +368%), TTM revenue exceeded $10M, multiple large-scale customer programs are progressing (notably a ~4,700-location retail rollout at ~90% completion, expanding Fortune 10 international deployments, government POCs), and product advances (PowerBridge Pro+ with FCC certification) are driving demand. Offsetting these positives were near-term margin headwinds driven by one-time U.S. retooling costs, supply chain pressures that increased component costs, continued GAAP losses (~$2.9M in Q2), and remaining revenue concentration risk (five customers = ~74% of revenue). Management positioned the margin issues as transitional, emphasized pipeline quality and shortened sales cycles, and reinforced a strong cash position ($31.2M) and zero product returns since 2024. Overall, the positives around revenue growth, customer deployments, product certification, and pipeline expansion significantly outweigh the temporary operational and margin challenges.Positive Updates
Strong Revenue Growth and TTM Milestone
Revenue was approximately $3.1M for Q2 and $6.2M for the six months ended June 30, 2026, up 217% and 368% versus the comparable prior-year periods. Year-to-date 2026 revenue through June 30 exceeded full-year 2025 revenue of $5.6M, and the company surpassed $10M in trailing 12-month revenue.
Negative Updates
Gross Margin Pressure in Q2
Gross margin for the six months was 19%, and management acknowledged Q2 gross margins were below recent levels. The decline was attributed to temporary factors tied to execution of growth strategy (one-time U.S. retooling costs, higher-cost component sourcing, and absorbing higher input costs to meet strategic customer timelines). Management reiterated a long-term target of 40%+ gross margins but expects margin recovery over coming quarters.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Revenue Growth and TTM Milestone
Revenue was approximately $3.1M for Q2 and $6.2M for the six months ended June 30, 2026, up 217% and 368% versus the comparable prior-year periods. Year-to-date 2026 revenue through June 30 exceeded full-year 2025 revenue of $5.6M, and the company surpassed $10M in trailing 12-month revenue.
Read all positive updates
Company Guidance
On the call management reiterated guidance that momentum should continue while Q2 margin pressure was temporary, citing Q2 revenue of ~$3.1M and six‑month revenue of ~$6.2M (vs. ~$1.0M and ~$1.3M a year earlier, +217% and +368%), trailing‑12‑month revenue >$10M, six‑month gross profit $1.2M (+176%) with a 19% gross margin, and a long‑term gross‑margin objective of 40%+. They reported Q2 GAAP operating expenses of $3.3M, a Q2 net loss of ~$2.9M (loss per share $0.53) versus prior‑year Q2 loss ~$2.8M (EPS $2.35), cash of $31.2M at quarter‑end (no ATM usage and no planned ATM this year), prepaid contract‑manufacturer expenses of ~$6.3M, and zero product returns since 2024. Operationally, U.S. production upgrades are substantially complete, overseas contract manufacturing should begin limited volume in Q3 and expand in Q4, a price increase took effect July 1, PowerBridge Pro+ received FCC certification in July, and management expects margins to recover through Q3/Q4 into 2027. Commercially they highlighted concentration shifting to five customers accounting for ~74% of Q2 revenue (vs. two customers at ~94% a year ago), a retail rollout targeting ~4,700 U.S. stores that is ~90% complete, expansion from ~50 to ~550 membership warehouses planned next year, a federal program with 2 initial sites and ~15 sites planned this year (potentially up to ~500 sites over 2–3 years), completed QSR POC with potential “thousands” of locations, and a larger, higher‑quality pipeline with enterprise sales cycles compressing to ~6–9 months (from 18–24 months).Energous Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
58
Neutral
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 10.48M | 5.63M | 768.00K | 474.18K | 851.32K | 756.79K |
| Gross Profit | 2.75M | 2.03M | 12.00K | 195.10K | -426.24K | 756.79K |
| EBITDA | -7.69M | -9.45M | -16.84M | -21.55M | -25.64M | -37.16M |
| Net Income | -8.01M | -9.59M | -18.40M | -19.37M | -26.28M | -41.43M |
Balance Sheet | ||||||
| Total Assets | 45.38M | 16.74M | 3.79M | 16.68M | 29.75M | 51.37M |
| Cash, Cash Equivalents and Short-Term Investments | 31.19M | 10.40M | 1.35M | 13.88M | 26.29M | 49.07M |
| Total Debt | 839.00K | 1.17M | 1.49M | 1.26M | 1.97M | 668.72K |
| Total Liabilities | 5.29M | 4.24M | 4.87M | 5.18M | 5.11M | 4.39M |
| Stockholders Equity | 40.09M | 12.50M | -1.08M | 11.50M | 24.65M | 46.98M |
Cash Flow | ||||||
| Free Cash Flow | -16.05M | -12.50M | -17.70M | -19.44M | -23.80M | -29.09M |
| Operating Cash Flow | -15.73M | -12.42M | -17.57M | -19.25M | -23.64M | -28.72M |
| Investing Cash Flow | -318.00K | -82.00K | -123.00K | -187.00K | -164.99K | -365.74K |
| Financing Cash Flow | 38.58M | 21.55M | 5.11M | 7.08M | 1.02M | 27.43M |
Energous Technical Analysis
Negative
11.27
Price Trends
11.39
Negative
15.57
Negative
16.28
Negative
Market Momentum
-1.08
Positive
27.19
Positive
16.07
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For WATT, the sentiment is Negative. The current price of 11.27 is above the 20-day moving average (MA) of 10.61, below the 50-day MA of 11.39, and below the 200-day MA of 16.28, indicating a bearish trend. The MACD of -1.08 indicates Positive momentum. The RSI at 27.19 is Positive, neither overbought nor oversold. The STOCH value of 16.07 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for WATT.
Energous Risk Analysis
Energous disclosed 1 risk factors in its most recent earnings report. Energous reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Energous Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
54 Neutral | $520.37M | -18.54 | -22.17% | ― | 92.79% | -11.98% | |
53 Neutral | $64.75M | -52.69 | -10.92% | ― | 7.85% | 45.80% | |
50 Neutral | $12.39M | 1.51 | 34.15% | ― | -21.65% | ― | |
48 Neutral | $46.65M | -2.94 | -29.36% | ― | 430.52% | 90.43% | |
47 Neutral | $67.86M | 760.87 | 0.15% | ― | 25.56% | ― |
* Technology Sector Average
WATT
Energous
8.44
-0.07
-0.82%
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-11.97%
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.