Energous Corp. (NASDAQ: WATT) stock soared by 0.36% at last close while the WATT stock price gains further by 7.12% during the pre-market session. Energous Corporation is the world’s leading innovator in Wireless Charging 2.0. WattUp, WATT’s award-winning technology, is the only one that enables both direct and distance charging in a single ecosystem.
WATT announced today that it would give a virtual presentation at the LD Micro Invitational XI event on June 9, 2021.
Event: Energous Presentation at the LD Micro Invitational XI.
Recent Past Development
On May 13, 2021, Energous Corporation announced its financial results for the first quarter ended on Mar. 31, 2021.
- WATT has generated a revenue of $145,065 in the first quarter 2021.
- $8.7 million has been calculated for operating expenditures (GAAP), including $4.6 million in research and development and $4.1 million in marketing, general, and administrative expenditures.
- $8.5 million, calculated as a net loss for Q1 2021, or $0.14 per basic and diluted share.
- A $6.3 million loss in adjusted EBITDA (a non-GAAP financial metric).
- At the completion of the first quarter, WATT had $44.8 million in cash and cash equivalents, with no liabilities.
- Energous’ WattUp PowerHub received European regulatory approval with no distance constraints.
- Energous teamed up with e-peas to develop wireless charging applications that can be used over a longer distance than one meter.
- Thinfilm and Energous collaborated to create ultrathin, dependable, and wirelessly recharged gadgets.
Brian Sereda, Senior vice president and Chief financial officer of Energous Corporation stated:
With the latest European certification, they’ve made significant progress in broadening the number of applications for their WattUp at-a-distance charging technology. WATT is witnessing more interest in RF charging from consumer, IoT, medical, and industrial device makers as their technology progresses toward wide commercial availability.