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Tag: Energous

  • Energous Corp. (WATT) Stock Advances Pre-Market. Here’s Why?

    Energous Corp. (WATT) stock becomes bullish pre-market, gaining 5.35% at a volume of 135.55 thousand, on November 17. The stock went up from its previous close value of $1.87 to $1.97 in the pre-market trading session. On the previous day, the stock traded between a range of $1.82 and $1.90, with a change of 0.00% at the close. The previous day trading volume was 1.32 million, 51% of the the 65-day average. Over the past one month the stock lost up to 7.88% value. Currently, WATT trades at a market capital of $117.58 million and 62.87 million outstanding shares. The current incline in the stock was seen after the company announced its product’s approval for unlimited distance wireless charging in Europe.

    Founded in 2012, Energous Corp. (WATT) develops wire-free charging solutions.

    WATT’s Product Approval

    On November 17, WATT announced that its 1W WattUp PowerBridge transmitter has been approved for unlimited distance wireless charging in Europe. Previously, the product was under review with an internationally accredited European Notified Body. According to the report, the 1W WattUp PowerBridge transmitter is in accordance with the European technical requirements for radio equipment. This approval, according to WATT, opens new market opportunities for unlimited distance wireless power networks.

    Energous’ WattUp technology is capable of charging multiple devices at the same time. Hence, this enables numerous wireless charging scenarios like near field, far field, over the air and at a wide range of distances. WattUp solution is the only technology that supports both contact and distance charging through a compatible ecosystem.

    Moreover, WATT has also received European regulatory approval for WattUp PowerHub previously.

    Q3 Financials

    Energous Corp. (WATT) announced its unaudited third quarter financial results on November 11, 2021. According to the results, the company had revenue of $201,364 for the quarter ended September 30, 2021. In addition, the (GAAP) operating expanses were $12.7 million approximately. This included $4.7 million R&D expanses, $3.9 million selling, general and administrative expanses, and $4.0 million in severance expanse.

    Furthermore, the net loss for the quarter was $12.5 million and the non-GAAP net loss was $6.4 million. Accordingly, the non-GAAP net loss per basic and diluted share was $0.13 for the third quarter of 2021. While the consensus estimate of net loss per basic and diluted share was $0.15.

    The company had a cash and cash equivalents of $28.3 million with no debt, as of September 30, 2021.

  • Energous Corp. (WATT) Stock Trending Higher Following Availability of Latest Wireless Charging Technology

    Energous Corp. (WATT) stock prices were down by 5.67% as of the market closing on July 13th, 2021, bringing the price per share down to USD$2.33. Subsequent premarket fluctuations have seen the stock rise by 4.29%, bringing it up to USD$2.43.

    Active Energy Harvesting Developer Kit

    July 14th 2021 saw the developer of WattUp announce the availability of its newest 5.5W Active Energy Harvesting Developer Kit, which will serve to enable at-a-distance wireless charging for the expanding ecosystem of industrial Internet of Things and other connected devices. This is a major step forward from the existing passive solutions that harness ambient energy from their surroundings, typically offering very low amounts of power. They are also unpredictable in terms of how much power is generated.

    Functionality of the Kit

    The company’s active energy harvesting solution includes a dedicated transmitter that has a 5.5W output of conducted power in a designated area or direction via the RF-based, WattUp wireless charging technology. The RF-based energy is collected by Energous-enabled receiving devices, which have the facility to be combined with RF energy harvesting IC technology from e-peas.

    Scope of Technology

    The company’s 5.5W active energy harvesting solution supports the charging of anywhere from one to several devices, with a single transmitter facilitating the simultaneous charging of several devices. The active energy harvesting technology is applicable to a myriad of industries and applications, ranging from drug store monitors and patient trackers in a healthcare setting to smoke detectors and motion sensors in a smart home. The technology also serves to facilitate fault prevention and other safety sensing in an industrial environment.

    Reliability of Technology

    The developer kit facilitates the incorporation of active energy harvesting into the solutions of developers of wireless devices while ensuring consistent and safe power levels. The pioneering technology serves to support a much wider range of IoT devices than ever before, fulfilling the requirement of guaranteed levels of power not addressed by existing passive energy harvesting technologies, establishing a basis for exponential growth in more power-critical applications.

    Future Outlook for WATT

    Armed with a technology that is set to revolutionize the wireless charging space, WATT is poised to capitalize on the consolidation and expansion of its market footprint. Investors are hopeful for the expansive scope of commercialization and accelerated proliferation of the technology across various market sectors, thus driving increases in shareholder value.