Energous Wireless Power Solutions — Third Quarter 2026 Earnings Summary

Financial Performance:

• Third quarter 2026 revenue was approximately $3.4 million, a 167% increase year-over-year compared to $1.3 million in Q3 2025, and a 10% increase from Q2 2026.
• Year-to-date revenue for the nine months ended September 30, 2026, was $9.6 million, a 270% increase over the $2.6 million reported in the same period of 2025, exceeding the full-year 2025 revenue of $5.6 million.
• Gross profit for the three and nine months ended September 30, 2026, was $0.5 million and $1.7 million, respectively, representing 5% and 88% increases versus the prior year periods.
• Gross margins were 14% for Q3 2026 (up from 3% in Q2 2026) and 17% for the nine months ended September 30, 2026.
• GAAP operating expenses totaled $3.2 million for Q3 2026, up from $2.6 million in Q3 2025.
• GAAP net loss for Q3 2026 was approximately $2.5 million ($0.45 per share), compared to $2.1 million ($1.31 per share) in Q3 2025.
• Non-GAAP net loss for Q3 2026 was approximately $2.1 million, compared to $2.0 million in Q3 2025; for the nine months ended September 30, 2026, non-GAAP net loss was $6.5 million versus $7.1 million in 2025.
• Cash and cash equivalents were $28.8 million as of September 30, 2026, compared to $10.4 million as of December 31, 2025.
• Deferred revenue was $82,000 as of September 30, 2026, up from $27,000 as of December 31, 2025.
• Short-term loan payable was $195,000 as of September 30, 2026, compared to $88,000 as of December 31, 2025.

Guidance and Future Outlook:

• Management expects gross margins to continue improving in the fourth quarter of 2026 and into 2027 as offshore contract manufacturers ramp production.
• The Company anticipates significant opportunities to build on momentum as enterprises recognize the value of continuous, real-time visibility into operations.
• Long-term goals include becoming a foundational infrastructure provider for enterprise Physical AI applications.

Business Segments and Product Lines:

• Over 69,500 PowerBridge transmitters have shipped since commercial production began in 2024 through September 30, 2026, primarily driven by the 2W PowerBridge Pro.
• On July 29, 2026, the Company received FCC certification for the PowerBridge Pro+, an end-to-end wireless power solution combining high-power RF delivery with integrated BLE gateway functionality.
• The Company has maintained zero product returns for over two years since the commercial production of PowerBridge Pro began in 2024.
• Strategic focus includes converting existing deployments and pilot programs into broader enterprise rollouts in retail logistics, manufacturing, and cold-chain applications.
• Development is advancing on the next-generation e-Sense roadmap using ultra-low-power semiconductor technologies to improve battery-free sensor capabilities.
• The e-Compass platform is expanding toward AI-assisted infrastructure management, enterprise APIs, and real-time event processing.

Market and Competitive Landscape:

• The Company is shifting from market validation to commercial adoption of its wireless power network solutions for Ambient IoT.
• Focus areas for market expansion include real-time inventory visibility, asset tracking, and condition monitoring.
• The Company is pursuing deeper integration with enterprise IoT and supply chain software ecosystems to evaluate recurring revenue opportunities through data services and advanced analytics.

Risks and Challenges:

• Forward-looking statements highlight risks including uncertain timing of regulatory approvals, timing of customer product development, dependence on distribution partners, potential loss of significant customers, and intense industry competition.
• Gross margin improvements in the near term were impacted by costs associated with ramping production of updated products to fulfill customer demand.

Management Commentary and Tone:

• CEO and CFO Mallorie Burak stated that results reflect continued momentum in commercial adoption, with revenue growing significantly year-over-year and year-to-date performance surpassing full-year 2025.
• Management highlighted meaningful progress in improving gross margins while scaling production to support customer demand.
• The tone emphasizes building a foundation for intelligent, data-driven decision-making and automation through asset visibility.

Other Key Points:

• The Company is evaluating additional recurring revenue opportunities through infrastructure management, data services, and advanced analytics.
• The PowerBridge Pro+ enables centralized monitoring, analytics, configuration, and control across enterprise IoT deployments when integrated with the e-Compass SaaS platform.
• The Company is advancing its e-Sense roadmap through strategic ecosystem partnerships.