Energous -7% on mixed Q1; expects increasing sales

|About: Energous Corporation (WATT)|By:, SA News Editor

Energous (NASDAQ:WATT) -7.3% on a mixed Q1 print that beat EPS estimates and missed on revenue. Revenue was up 133% Y/Y to $0.7M, which was $0.17M below the consensus.

Adjusted EBITDA was -$7.7M versus the -$8.4M consensus. Cash and equivalents totaled $36.1M with no debt.

Key management quote: "We believe we are making the necessary strategic steps to capture the immense opportunity of wireless charging 2.0, and while the pace of reportable progress can be unpredictable, we expect to see increasing chip sales in 2019."

Press release.

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