$WATT

Energous Corp

CIK:0001575793|SEC Filings

CONDENSED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
CONDENSED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
CONDENSED STATEMENTS OF OPERATIONS
Revenue	$ 3,089	$ 975	$ 6,171	$ 1,318
Cost of revenue	2,995	637	4,982	887
Gross profit	94	338	1,189	431
Operating expenses:
Research and development	1,135	1,100	2,149	2,292
Sales and marketing	630	704	1,169	1,293
General and administrative	1,453	1,286	2,841	2,181
Severance expense	69	23	69	395
Expenses from abandoned financing transaction		5		661
Total operating expenses	3,287	3,118	6,228	6,822
Loss from operations	(3,193)	(2,780)	(5,039)	(6,391)
Other income (expense), net:
Change in fair value of warrant liability				267
Interest income (expense), net	282	(7)	472	(29)
Loss on retirement of property and equipment		(1)		(1)
Total other income (expense), net	282	(8)	472	237
Net loss	$ (2,911)	$ (2,788)	$ (4,567)	$ (6,154)
Basic loss per common share	$ (0.53)	$ (2.35)	$ (0.97)	$ (5.76)
Diluted loss per common share	$ (0.53)	$ (2.35)	$ (0.97)	$ (5.76)
Weighted average shares outstanding, basic	5,508,512	1,187,945	4,699,955	1,068,690
Weighted average shares outstanding, diluted	5,508,512	1,187,945	4,699,955	1,068,690

CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (4,567)	$ (6,154)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	76	86
Stock-based compensation	112	208
Accrued interest		17
Amortization of short-term loan fees		34
Change in fair value of warrant liability		(267)
Loss on retirement of property and equipment		1
Changes in operating assets and liabilities:
Accounts receivable	(280)	(585)
Inventory	(994)	(189)
Prepaid expenses and other current assets	(6,111)	338
Other assets	(119)
Operating lease right-of-use assets ("ROUs")	202	382
Accounts payable	1,314	(1,080)
Accrued expenses	(282)	(11)
Accrued severance expense		(18)
Operating lease liabilities	(241)	(305)
Deferred revenue	37	(3)
Net cash used in operating activities	(10,853)	(7,546)
Cash flows from investing activities:
Purchases of property and equipment	(273)	(37)
Net cash used in investing activities	(273)	(37)
Cash flows from financing activities:
Repayments of short-term loan		(759)
Repayments of financed insurance	(133)	(121)
Warrant exercises	237
Net proceeds from an ATM offering	31,813	15,772
Net cash provided by financing activities	31,917	14,892
Net increase in cash and cash equivalents	20,791	7,309
Cash, cash equivalents and restricted cash - beginning	10,401	1,353
Cash, cash equivalents and restricted cash - ending	31,192	8,662
Supplemental disclosure of cash flow information:
Interest paid	1	267
Supplemental disclosure of non-cash investing and financing activities:
Increase in ROUs and operating lease liabilities from lease modification		896
Decrease in ROUs from shares issued to landlord		25
Accrued interest in short-term loan payable		70
Financing of insurance premiums	$ 352	$ 308