Energous Powers Up: Wireless Charging Moves to the Industrial Frontier

SAN JOSE, CA – May 13, 2026 – Energous Wireless Power Solutions (NASDAQ: WATT) today signaled a pivotal moment for the wireless charging industry, announcing first-quarter financial results that showcase a dramatic shift from technology validation to large-scale commercial deployment. The company reported a staggering 799% year-over-year revenue increase to $3.1 million, marking its fifth consecutive quarter of growth and providing compelling evidence that over-the-air power is becoming a critical backbone for industrial and enterprise operations.

This transition from a developer of futuristic technology to a supplier of essential infrastructure is underscored by major deployments with two Fortune 10 companies, cementing Energous' role in powering the next generation of industrial automation and Internet of Things (IoT) ecosystems.

A Strategic Pivot Pays Off

Two years ago, Energous embarked on a strategic pivot, shifting its focus from broad technology validation to targeted commercial deployment in the enterprise sector. The Q1 2026 results are the clearest sign yet that this strategy is yielding significant returns. The reported $3.1 million in revenue not only represents a massive leap from the $0.3 million in the same period last year but also demonstrates sustained momentum with a 1% increase over the prior quarter.

“The first quarter of 2026 marked a defining moment in Energous' evolution,” said Mallorie Burak, CEO and CFO of Energous, in the company's press release. “Having successfully stabilized the business over the last two years and completed our transition from technology validation to commercial deployment, we are now scaling by growing our Fortune 10 customer programs and expanding our proof-of-concept pipeline.”

Financial discipline has accompanied this growth. The company significantly narrowed its GAAP net loss by 51% to $1.7 million, down from $3.4 million in Q1 2025. Gross profit soared 1,077% to $1.1 million, with gross margins hitting 36%, a figure attributed to the added capacity of a new U.S.-based contract manufacturer. Further bolstering its stability, Energous holds a strong cash position of $36.6 million and, after raising $31.9 million in the quarter, announced it has no plans to use its at-the-market (ATM) offering for the next twelve months, a strong vote of confidence in its operational runway and future cash flow.

Powering the New Enterprise Backbone

The engine behind Energous' financial success is its deep penetration into demanding enterprise environments, a far cry from the consumer-focused wireless charging pads that first introduced the technology to the public. The company is actively deploying its solutions with two unnamed Fortune 10 clients in retail, grocery, and e-commerce fulfillment.

One of these programs involves a massive infrastructure modernization for a national retailer, targeting approximately 4,700 U.S. locations. To date, over 1,500 installations have been completed, powering systems for inventory management and asset tracking. A second Fortune 10 deployment has expanded internationally into the EU and UK, leveraging Energous’ certified PowerBridge PRO technology, with 35 facilities targeted for 2026.

These are not trivial applications. The technology provides a continuous, reliable power source for sensors and trackers in complex supply chains, including cold chain environments where regulatory compliance is mandatory. By delivering power over the air, Energous enables up to 99% asset visibility, allowing companies to monitor inventory, prevent spoilage, and automate data collection on a scale that battery-powered alternatives cannot sustainably match.

A Competitive Edge in a Crowded Field

While Energous is not alone in the wireless power market, with competitors like Ossia and Wi-Charge also targeting at-a-distance power, its enterprise-first strategy is built on key technological differentiators. The company's flagship PowerBridge PRO transmitter is the only technology certified in the U.S., EU, and UK to deliver 2W of conducted power. This higher power level, combined with a design that avoids interference with existing Wi-Fi networks, creates a robust and scalable power infrastructure.

The most significant competitive advantage may be the PowerBridge PRO's ruggedness. It is uniquely rated for operation in temperatures down to -30°C, a critical feature for the cold chain logistics and grocery sectors where battery performance plummets. This capability opens a significant market where other solutions fail, transforming wireless power from a convenience to a necessity. This focus on enterprise-grade reliability is further validated by the company's report of zero product returns since commercial production began in 2024.

“Enterprises are choosing wireless power networks over autonomous ambient harvesting alternatives because they need guaranteed, reliable power delivery,” Burak added in her statement. “Energous’ technology serves as the backbone of enterprise grade wireless power network infrastructure.”

Expanding the Battery-Free Ecosystem

With its anchor clients scaling up, Energous is now looking to replicate its success across new verticals. The company has an active pipeline of structured proof-of-concept evaluations in the Quick Service Restaurant (QSR), manufacturing, and government sectors. These pilots focus on solving similar challenges related to food safety, inventory visibility, and compliance monitoring, with several expected to reach commercial deployment decisions later in 2026.

To meet this anticipated demand and unlock new opportunities, Energous has brought a second, U.S.-based contract manufacturer online. This move not only increases production capacity but also strategically positions the company to pursue government contracts and serve enterprise customers with domestic procurement requirements.

By methodically building a foundation of reliable technology, securing regulatory approvals, and proving its value with the world's largest companies, Energous is making a powerful case that the future of the industrial IoT will be built on a network that is not just connected, but continuously and wirelessly powered.