Energous (WATT) Reports In-Line Q2 EPS

August 9, 2016 4:36 PM EDT

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Energous (NASDAQ: WATT) reported Q2 EPS of ($0.62), in-line with the analyst estimate of ($0.62). Revenue for the quarter came in at $200 thousand versus the consensus estimate of $300 thousand.

Reiterated its previous forecast for exiting the third quarter of 2017 at a monthly cash flow break even run rate.

"Energous continues to execute at an aggressive pace to deliver on its vision of a WattUp ecosystem spanning a broad spectrum of devices, markets and technologies," said Stephen R. Rizzone, President and CEO. "We've made significant progress with our strategic partner, substantially grown our licensee base and prospect funnel, and our chipsets are on schedule to be ready for mass production in the third quarter. With the new investment from Ascend Capital and our first silicon and royalty revenues expected before the end of this year, our financial position is secure. We are poised to expand our company and accelerate the pace of licensee expansion to make our vision of a ubiquitous WattUp ecosystem a reality and solidify our position as market leader."

For earnings history and earnings-related data on Energous (WATT) click here.

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