10-Q · May 14, 2026
Energous Corporation reported significant growth in revenue and improvement in financial performance for Q4 2026. Revenue surged to $3.1 million, a 799% year-over-year increase, surpassing estimates, while diluted EPS…
Earnings analysis · 10-Q
WATT earnings analysis
Filed August 13, 2026 · Our reading of the company's report
The latest report
Energous delivered strong year-over-year revenue growth, with Q2 revenue of $3.089 million, up 217% from Q2 2025, and first-half revenue exceeding full-year 2025 revenue. However, production ramp costs, a $3.193 million…
Read full summary
Energous delivered strong year-over-year revenue growth, with Q2 revenue of $3.089 million, up 217% from Q2 2025, and first-half revenue exceeding full-year 2025 revenue. However, production ramp costs, a $3.193 million operating loss, negative $3 million free cash flow, and a $0.53 EPS loss indicate that the company remains far from profitability. Cash of $31.2 million supports near-term liquidity, but no quantitative forward guidance was provided and the filing reported no material changes to the previously disclosed risk factors.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.53
What stood out
-
Revenue remained sharply above prior year
Q2 revenue was $3.089 million, up 217% from $0.975 million in Q2 2025 and slightly above the approximately $3.0 million reported in Q1 2026.
-
Cash balance was $31.2 million
The company reported a $31.2 million cash balance, providing liquidity despite continued operating losses.
-
First-half revenue surpassed FY2025
First-half 2026 revenue exceeded full-year 2025 revenue, indicating significant year-over-year commercial growth.
-
Gross margin held near prior-year level
Q2 gross margin was 34.7%, compared with 35.5% in Q1 2026 and 34.7% in Q2 2025.
-
Cash burn improved sequentially
Q2 free cash flow was negative $3 million, an improvement from negative $6 million in Q1 2026.
What to watch
-
Operating losses remain substantial
Q2 operating loss was $3.193 million, and the operating margin was negative 285.1%, demonstrating that operating expenses remain very high relative to revenue.
-
Production ramp costs pressure margins
Six-month gross margin was 19%, reflecting production ramp costs and indicating that scaling manufacturing continues to pressure profitability.
-
Earnings remain volatile and negative
Diluted EPS was a loss of $0.53 in Q2, compared with a loss of $0.43 in Q1 2026 and income of $0.15 in Q4 2025.
-
Ongoing cash burn requires liquidity
Free cash flow was negative $3 million in Q2, following negative $6 million in Q1 2026, leaving the company dependent on its $31.2 million cash balance to fund ongoing operations.
-
No material risk-factor updates
The filing states that there were no material changes to the risks disclosed in the December 31, 2025 Form 10-K; therefore, no new risk-factor changes were identified.
Management's outlook
No forward revenue or EPS guidance was provided in the filing; the prior outlook also contained no quantitative guidance.
Earlier filings 4
10-K · March 26, 2026
Energous reports a clear top-line inflection in 2025 with preliminary FY2025 revenue of approximately $5,600,000 (press release / 8-K) after four consecutive quarters of growth; gross margin expanded to ~37.5% in 2025Q4…
10-Q · November 13, 2025
Energous reported Q3 2025 revenue of $1,272,000 and a GAAP net loss of $2,113,000 ($(1.31) per share). Revenue and gross profit improved materially year-over-year and sequentially, and the company materially…
10-Q · November 13, 2024
Energous reported Q3 revenue of $230,000 and a GAAP net loss of $3,412,000 (loss per share $0.50). Revenue improved versus prior-year quarter ($230,000 vs $169,000) and operating loss narrowed (loss from operations…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.