Energous Corp (NASDAQ: WATT) expects FCC Approval in the 2Q16 (end-June) for its mini-WATT transmitter - while we need to wait until mid to late 2017 for the mid and larger-size solutions (with greater distance and power) to be launched, Chardan Capital Markets analyst Marc Estigarribia notes. For its Tier 1 customer, the mini-WATT solution will be ready for commercial launch by end-2016/ beg-2017. The company has distributed evaluation kits to over 30 qualified licensors.

Estigarribia expects a $500k milestone revenue payment in the 1Q16 (end-Mar) to be followed by FY16 revenue guidance of "low to mid 7 digits", leading to a break-even by 3Q17. Gross margins ranges are estimated at 60-70% for commercial launched products, while we look for lumpy quarterly OPEX throughout this year.

4Q15 Results generated no meaningful catalysts. The Company generated no revenues in the quarter compared to FY2015 revenues of $2.5M. OPEX for the year came to ~$30m with FY15 EBITDA losses of $20.8m and bottom line net losses of $27.5m or $2.07 per diluted share.

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Shares of Energous Corp closed at $6.75 yesterday.