Energous Corporation (WATT) Income Statement
WATT 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsWATT revenue and net income
Where WATT's revenue goes
2025Each bar shows an amount and its share of revenue. WATT kept −170.4% of revenue as net income.
WATT profit margins
WATT growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +633.1% | +87.7% | +76.6% | +8.5% |
| Gross profit | +16,808.3% | — | +58.8% | −2.1% |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
WATT quarterly EPS vs estimates
Energous beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: November 11, 2026.
WATT income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.6M | $768,000 | $474,184 | $851,321 | $756,793 | $327,350 | $200,143 | $514,823 | $1.2M | $1.5M |
| Cost of revenue | $3.6M | $756,000 | $279,083 | $1.3M | $932,555 | $126,539 | $0 | $0 | $49.2M | $46.3M |
| Gross profit | $2.0M | $12,000 | $195,101 | −$426,244 | $756,793 | $200,811 | $200,143 | $514,823 | $1.2M | $1.5M |
| Research & development | $4.1M | $8.3M | $10.8M | $12.5M | $20.6M | $17.1M | $23.2M | $32.9M | $33.2M | $32.8M |
| Sales, general & admin | $6.9M | $8.8M | $11.1M | $13.0M | $17.6M | $15.0M | $15.8M | $18.6M | $17.3M | $14.4M |
| Total operating expenses | $11.0M | $18.4M | $22.3M | $26.3M | $42.2M | $32.1M | $39.0M | $51.4M | $50.5M | $47.3M |
| Operating income | −$9.0M | −$18.4M | −$22.1M | −$26.7M | −$41.4M | −$31.9M | −$38.8M | −$50.9M | −$49.4M | −$45.8M |
| Interest income | $166,000 | $0 | $866,433 | $411,065 | $5,492 | $71,212 | $416,274 | $89,288 | $11,679 | $13,326 |
| Interest expense | — | — | — | $411,065 | $4.0M | $0 | $0 | $0 | $0 | $13,326 |
| Income before taxes | −$9.6M | −$18.4M | −$19.4M | −$26.3M | −$41.4M | −$31.8M | −$38.4M | −$50.8M | −$49.4M | −$45.8M |
| Income taxes | — | — | $4 | −$411,065 | $3.1M | −$1.2M | −$2.0M | $89,288 | −$1.3M | −$957,836 |
| Net income | −$9.6M | −$18.4M | −$19.4M | −$26.3M | −$41.4M | −$31.8M | −$38.4M | −$50.8M | −$49.4M | −$45.8M |
| EBITDA | −$9.5M | −$16.8M | −$21.6M | −$25.6M | −$37.2M | −$30.8M | −$37.2M | −$49.9M | −$48.1M | −$44.9M |
| EPS (diluted) | −$3.78 | −$76.62 | −$112.87 | −$151.75 | −$312.13 | −$228.37 | −$762.00 | −$912.48 | −$1092.50 | −$1110.75 |
| Gross margin | 36.0% | 1.6% | 41.1% | −50.1% | 100.0% | 61.3% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating margin | −159.0% | −2,397.1% | −4,660.6% | −3,134.7% | −5,474.8% | −9,744.7% | −19,390.1% | −9,892.6% | −4,279.7% | −3,156.5% |
| Net margin | −170.4% | −2,395.6% | −4,084.2% | −3,086.4% | −5,474.1% | −9,724.2% | −19,185.8% | −9,875.3% | −4,278.7% | −3,155.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.1M | $3.1M | $3.0M | $1.3M | $975,000 | $343,000 | $428,000 | $230,000 | $46,000 | $64,000 | $91,000 | $169,000 |
| Cost of revenue | $3.0M | $2.0M | $1.9M | $822,000 | $637,000 | $250,000 | $219,000 | $306,000 | $122,000 | $109,000 | $9,000 | $48,000 |
| Gross profit | $94,000 | $1.1M | $1.1M | $450,000 | $338,000 | $93,000 | $209,000 | −$76,000 | −$76,000 | −$45,000 | $82,000 | $121,000 |
| Research & development | $1.1M | $1.0M | $937,000 | $897,000 | $1.1M | $1.2M | $1.8M | $1.7M | $2.4M | $2.2M | $2.4M | $2.5M |
| Sales, general & admin | $2.1M | $1.9M | $1.6M | $1.7M | $2.0M | $1.5M | $1.9M | $1.7M | $1.6M | $2.9M | $2.3M | $2.5M |
| Total operating expenses | $3.3M | $2.9M | $2.5M | $2.6M | $3.1M | $3.7M | $3.7M | $3.5M | $4.6M | $6.6M | $4.7M | $5.2M |
| Operating income | −$3.2M | −$1.8M | −$1.4M | −$2.2M | −$2.8M | −$3.6M | −$3.5M | −$3.6M | −$4.7M | −$6.7M | −$4.6M | −$5.1M |
| Interest income | $282,000 | $190,000 | $107,000 | $88,000 | — | — | $215,000 | $10,000 | $57,000 | $148,000 | $161,144 | $178,845 |
| Interest expense | — | $190,000 | — | — | $7,000 | $22,000 | — | — | — | — | $358,448 | — |
| Income before taxes | −$2.9M | −$1.7M | −$1.3M | −$2.1M | −$2.8M | −$3.4M | −$4.1M | −$3.4M | −$4.3M | −$6.6M | −$4.6M | −$4.1M |
| Income taxes | — | — | — | — | — | — | −$4,724 | −$3.4M | — | $4,724 | $3 | −$447,954 |
| Net income | −$2.9M | −$1.7M | −$1.3M | −$2.1M | −$2.8M | −$3.4M | −$4.1M | −$3.4M | −$4.3M | −$6.6M | −$4.6M | −$4.1M |
| EBITDA | −$2.9M | −$1.4M | −$1.3M | −$2.1M | −$2.7M | −$3.3M | −$4.1M | −$3.0M | −$4.9M | −$5.1M | −$4.6M | −$4.2M |
| EPS (diluted) | −$0.51 | −$0.40 | — | −$1.31 | −$2.35 | −$0.12 | −$17.35 | −$14.53 | −$21.43 | −$23.31 | −$0.88 | −$29.19 |
| Gross margin | 3.0% | 35.5% | 36.6% | 35.4% | 34.7% | 27.1% | 48.8% | −33.0% | −165.2% | −70.3% | 90.1% | 71.6% |
| Operating margin | −103.4% | −59.9% | −47.1% | −172.2% | −285.1% | −1,052.8% | −820.8% | −1,557.0% | −10,110.9% | −10,414.1% | −5,050.5% | −3,006.5% |
| Net margin | −94.2% | −53.7% | −43.6% | −166.1% | −285.9% | −981.3% | −964.7% | −1,483.5% | −9,256.5% | −10,310.9% | −5,060.4% | −2,434.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in WATT's financial statements (latest annual report filed March 26, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
WATT financial results
In fiscal year 2025 (ended December 31, 2025), Energous reported revenue of $5.6 million, up 633.1% from the year before. It had a net loss of $9.6 million, a net profit margin of −170.4%. Diluted earnings per share came to −$3.78. Over five years revenue grew at an average rate of 76.6% a year.
See the WATT stock overview for the latest quote and news, or the WATT chart for price history and technical indicators.
WATT income statement FAQ
What is Energous's annual revenue?
Energous reported total revenue of $5.6 million for fiscal year 2025, which ended on December 31, 2025. That was up 633.1% from $0.8 million the previous year.
Is Energous profitable?
No. Energous reported a net loss of $9.6 million in fiscal 2025, a net profit margin of −170.4%; its operating margin was −159.0%.
What is Energous's gross margin?
Energous's gross margin was 36.0% in fiscal 2025: for every $100 of revenue, Energous kept $36 after the direct cost of its products and services.
How much does Energous spend on research and development?
Energous spent $4.1 million on research and development in fiscal 2025, 73.3% of revenue.
How fast is Energous growing?
Revenue grew 76.6% a year on average over the last five fiscal years, from $0.3 million to $5.6 million.
What are Energous's earnings per share?
Energous earned $-3.78 per diluted share in fiscal 2025, compared with $-76.62 a year earlier.
When will Energous report its next earnings?
Energous is expected to report results for the quarter ending September 30, 2026 on November 11, 2026.
When does Energous's fiscal year end?
Energous's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 26, 2026.