Energous Corporation Reports 2023 Results
Energous Corporation (NASDAQ: WATT), a leading developer of RF-based charging for wireless power networks, today announced financial results for the year ended December 31, 2023, and provided an update on recent partnerships and company highlights.
- Energous Corporation (NASDAQ: WATT), a leading developer of RF-based charging for wireless power networks, today announced financial results for the year ended December 31, 2023, and provided an update on recent partnerships and company highlights.
- Total costs and expenses were significantly reduced in 2023 from approximately $27.5 million in 2022 to approximately $22.6 million in 2023, representing a cost reduction of $4.9 million year over year.
- Approximately $13.9 million in cash and cash equivalents at the end of 2023, with no debt.
- Energous and Velociti — which deploys advanced enterprise technology solutions to some of the largest brands in the world, joined Energous as a preferred system integration partner and worldwide value-added reseller (VAR) for its technology.