Energous secures $13.4 million for expansion

SAN JOSE - Energous Corporation (NASDAQ: WATT), specializing in over-the-air wireless power networks, has recently announced the successful raise of $13.4 million in net proceeds through its at-the-market equity offering program. This capital boost comes at a critical time, as InvestingPro data shows the company’s stock trading near its 52-week low of $0.28, with a market capitalization of just $8.76 million. This capital boost, achieved within the first two months of 2025, aims to support the company’s operational and growth needs.

In a strategic move to ensure continued access to capital, Energous expanded its common stock sales capacity under the program in mid-February 2025, allowing for up to $80 million in additional shares. This expansion is aligned with the company’s objective to reposition itself for growth and meet strategic goals.

Mallorie Burak, the CEO and CFO of Energous, expressed confidence in the company’s financial stability and growth prospects. While InvestingPro analysis indicates the company is quickly burning through cash with an EBITDA of -$16.84 million, analysts anticipate a 10% revenue growth in 2025. According to Burak, the company anticipates increased orders from its partnerships with leading multinational retail customers. An expected scale-up process, initiated early last year, coupled with potential upcoming government regulations, such as the Food Safety Modernization Act set for early 2026, may accelerate the deployment schedule.

The improved financial position has led Energous to withdraw its Regulation A Offering Statement filed with the SEC and terminate the offering, having not closed on any sales of securities under it. Burak emphasized the company’s commitment to maximizing shareholder value, citing strategic cost-cutting, product sales development, and access to non-dilutive financing as key strategies.

Energous Wireless Power Solutions is at the forefront of creating wireless power transmitter and receiver technologies that facilitate battery-free devices for various applications, including inventory tracking and management across different sectors.

The company’s recent financial and operational milestones are expected to provide sufficient funds for general corporate purposes, including capital expenditures and working capital, for at least the next 12 months. For deeper insights into Energous’s financial health and growth potential, InvestingPro subscribers can access over 20 additional ProTips and a comprehensive Pro Research Report, helping investors make more informed decisions about this emerging technology company.

This financial update is based on a press release statement from Energous Corporation.

In other recent news, Energous Corporation announced it has regained compliance with Nasdaq’s minimum stockholders’ equity requirement. This development follows a previous notice of non-compliance from Nasdaq in December 2024, which had raised concerns about the company’s listing status. Energous received formal confirmation of its compliance through a notice from Nasdaq, after filing a Current Report on Form 8-K on January 16, 2025. This compliance ensures Energous’ continued listing on the Nasdaq, although the company has been advised to maintain this status in future reports to avoid potential delisting. Energous’ CEO and CFO, Mallorie Burak, emphasized the company’s dedication to adhering to all Nasdaq listing requirements. The company had been previously warned under Nasdaq Listing Rule 5550(b)(1) for not meeting the Stockholders’ Equity Requirement. This update reflects the latest regulatory and financial status of Energous Corporation.

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