Energous (WATT) Misses Q4 EPS by 3c, Revenues Miss
- Wall Street ends week positively; S&P 500, Dow hit record highs
- Bitcoin (BTC) Drops 3% as Turkey Bans Cryptocurrency Payments Citing Lack of Regulatory Supervision
- Morgan Stanley (MS) Archegos-Related Loss Appears to be $911M
- Dollar at 4-week low on retreating Treasury yields
- J&J (JNJ) Privately Asked Rival Covid-19 Vaccine Makers to Inspect Clotting Risks, AstraZeneca (AZN) Said Yes but Pfizer (PFE) and Moderna (MRNA) Declined - Report
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
Energous (NASDAQ: WATT) reported Q4 EPS of ($0.15), $0.03 worse than the analyst estimate of ($0.12). Revenue for the quarter came in at $90 thousand versus the consensus estimate of $170 thousand.
For the fourth quarter ended Dec. 31, 2020, Energous recorded:
- Revenue of $90,000
- Operating expenses of approximately $7.6 million (GAAP), comprised of $4.2 million in research and development, and $3.4 million in selling, general and administrative expenses
- Net loss of $7.5 million, or $0.15 per basic and diluted share
- Adjusted EBITDA (a non-GAAP financial measure) loss of $5.8 million
- $50.7 million in cash and cash equivalents at the end of the fourth quarter, with no debt
- Energous partner American Equus successfully completed trials of its equine health tracking sensor and is on track for availability in the first quarter of 2021
- EarTechnic® selected Energous’ RF-based wireless charging for new hearing aid design
- Energous customer Gokhale Method received FCC approval for new WattUp®-enabled PostureTracker™ wearable device
- Energous named Dan Fairfax Chairman of its Board of Directors
- Energous completed $40 million at-the-market equity offering
- Enerous partnered with e-peas to advance at-a-distance wireless charging applications greater than one meter
- Energous partnered with Thinfilm to enable ultrathin, reliable, wirelessly rechargeable devices
“With the increasing number of announced customers, including EarTechnic®, NewSound, Gokhale, and American Equus, we see momentum building for our WattUp wireless charging solution,” said Stephen R. Rizzone, president and CEO of Energous Corporation. “We are working in a number of vertical markets to commercialize our technology, expand our global regulatory footprint, and build the WattUp based wireless charging ecosystem.”
For earnings history and earnings-related data on Energous (WATT) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Bank of New York (BK) Tops Q1 EPS by 10c, Revenues Beat
- Biomerica, Inc. (BMRA) reported consolidated sales of $3.62 million for the fiscal third quarter
- EHang Holdings (EH) Announces CAAC Established EH216 Type Certification Team to Further Advance Certification Process
Create E-mail Alert Related CategoriesCorporate News, Earnings, Management Comments
Related EntitiesEarnings, Equity Offerings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!