Energous Corporation
Key statistics
from XBRL data in SEC filingsAI briefing
from the latest 10-K, 10-Q and 8-K eventsEnergous Corp is a San Jose-based developer of over-the-air RF wireless power networks for battery-free IoT devices, now generating commercial revenue from PowerBridge transmitters.
What they do
Energous designs and sells RF-based wireless power systems, including transmitter systems, receiver ICs, and software, to power battery-free IoT devices such as RF tags, ambient IoT sensors, and electronic shelf labels. Its main product lines are PowerBridge transmitters (including the 2W PowerBridge Pro and PowerBridge Pro+) and battery-free receivers like the e-Sense tag, supported by the e-Compass cloud software platform. The company also licenses and manufactures complete transmitter solutions.
Revenue drivers
- PowerBridge transmitters — Primary revenue source; over 56,000 transmitters shipped since 2024, driven by demand for the 2W PowerBridge Pro, with shipments accelerating from Q4 2025.
- Battery-free receiver products and software — Includes e-Sense tags and e-Compass cloud software, forming an end-to-end solution; contributes to recurring or bundled revenue as part of the platform.
- Customer deployments and proof-of-concepts — Revenue from a Fortune 10 customer, a federal government agency, a national QSR operator, and a national grocery chain; these deployments trigger transmitter and receiver sales.
Recent performance
For Q2 2026 (ended June 30, 2026), revenue was approximately $3.1 million, up 217% year over year, and flat sequentially, marking the sixth consecutive quarter of growth. Six-month revenue totaled $6.2 million, a 368% increase year over year, and exceeded full-year 2025 revenue of $5.6 million; trailing-twelve-month revenue surpassed $10 million. Gross profit for six months was $1.2 million (19% gross margin); GAAP net loss was $2.9 million or $0.53 per share for Q2 2026. Cash and equivalents were $31.2 million as of June 30, 2026.
Strategy
The company focuses on commercializing its end-to-end wireless power platform for low-power IoT, prioritizing deployments in retail, industrial, healthcare, and logistics. It plans to expand existing customer programs (e.g., Fortune 10, federal agency) and launch new proofs-of-concept, while continuing to innovate with updated products like the PowerBridge Pro+ and e-Sense tag. Key strategic elements include developing multiple ICs, licensing and manufacturing transmitter systems, building reference designs, and securing regulatory approvals (e.g., FCC certification).
Risks
- Limited revenue history — Energous has a limited history of meaningful product revenue and may never achieve profitability.
- Need for additional capital — May require additional financings to meet long-term plans, with no guarantee of availability on acceptable terms.
- Market adoption risk — If products do not achieve widespread market acceptance, the company will not generate sufficient revenue.
- Technology and execution risk — Potential for product defects or inability to develop all features, which could cause lost revenue and liabilities.
Outlook
Management states the pipeline entering H2 2026 is larger and more advanced than any point in history, with growing Fortune 10 deployments and a 'significant' multi-stage federal program. They also cite a national QSR expansion and a new grocery chain proof-of-concept. Revenue momentum is expected to continue, supported by the new PowerBridge Pro+ FCC certification and a strong cash position of $31.2 million, with no ATM sales planned for the next twelve months.