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

Recent Highlights

• 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.