Energous Corp
WATT Nasdaq Radio & Tv Broadcasting & Communications Equipment Financials FY2016โFY2025
Last close ยท Oct 23, 2026
$8.78
0.6%What Energous Corp does
No business description yet.
- Legal name
- Energous Corp
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K ยท Mar 26, 2026
- Accession ยท CIK
- 0001104659-26-035214
0001575793
Revenue and margins
Energous Corp had $5.6M of revenue in fiscal 2025, up 633.1% on the year before.
Net income and earnings per share
Loss periods are shown in red.
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Cash flow
Free cash flow was โ$12.5M in fiscal 2025, โ222.1% of revenue. Cash from operations minus capital spending.
Dividends, buybacks and share count
Energous Corp returned โ to shareholders in fiscal 2025. The diluted share count rose 522.7%.
Balance sheet
Cash, debt and the ratios that show how comfortably Energous Corp can carry it.
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $49.1M | $26.3M | $13.9M | $1.4M | $10.4M |
| Debt incl. finance leases | โ | โ | โ | $0.8M | $0.1M |
| Debt / equity | โ | โ | โ | โ | 0.0x |
| Interest coverage | โ | โ | โ | โ92.1x | โ50.1x |
| Current ratio | 11.6x | 7.1x | 3.2x | 0.6x | 4.2x |
| Quick ratio | 11.6x | 7.1x | 3.2x | 0.5x | 3.8x |
| Total assets | $51.4M | $29.8M | $16.7M | $3.8M | $16.7M |
| Total liabilities | $4.4M | $5.1M | $5.2M | $4.9M | $4.2M |
| Shareholders' equity | $47.0M | $24.6M | $11.5M | โ$1.1M | $12.5M |
| Net debt (โ = net cash) | โ | โ | โ | โ$0.5M | โ$10.3M |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. โPlanโ marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
โ
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8โ9 is strong, 0โ2 weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| Cash from operations is positive | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| Return on assets rose | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| Cash from operations exceeds net income | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| Debt fell relative to assets | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| Current ratio rose | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| Share count didn't rise | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| Gross margin rose | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| Revenue rose relative to assets | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| F-score | โ / 3 | 2 / 7 | 3 / 7 | 2 / 7 | 3 / 7 | 2 / 7 | 3 / 7 | 2 / 8 | 3 / 8 | 5 / 9 |
| Accruals ratio | โ36.2% | โ59.0% | โ97.9% | โ50.2% | โ18.0% | โ24.3% | โ6.5% | โ0.5% | โ8.1% | 27.5% |
| Altman Z'' | โ10.91 | โ50.59 | โ38.43 | โ36.88 | โ3.61 | โ9.66 | โ35.51 | โ77.17 | โ380.21 | โ76.20 |
10 years of figures
Amounts in USD. Hover a ratioโs name for its definition.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $1.5M | $1.2M | $0.5M | $0.2M | $0.3M | $0.8M | $0.9M | $0.5M | $0.8M | $5.6M |
| Net interest income | $0.0M | $0.0M | $0.1M | $0.4M | $0.1M | $0.0M | $0.4M | $0.8M | โ | $0.2M |
| Provision for credit losses | โ | โ | โ | โ | โ | โ | โ | โ$0.0M | โ | โ |
| Gross profit | โ | โ | โ | โ | $0.2M | โ | โ$0.4M | $0.2M | $0.0M | $2.0M |
| Research and development | $32.8M | $33.2M | $32.9M | $23.2M | $17.1M | $20.6M | $12.5M | $10.8M | $7.7M | $4.1M |
| Operating income | โ$45.8M | โ$49.4M | โ$50.9M | โ$38.8M | โ$31.9M | โ$41.4M | โ$26.7M | โ$22.1M | โ$18.4M | โ$10.0M |
| Interest expense | โ | โ | โ | โ | โ | โ | โ | โ | $0.2M | $0.2M |
| Pretax income | โ | โ | โ | โ | โ | โ | โ | โ | โ$18.4M | โ$9.6M |
| Income tax | โ | โ | โ | โ | โ | โ | โ | $0.0M | $0.0M | โ |
| Net income | โ$45.8M | โ$49.4M | โ$50.8M | โ$38.4M | โ$31.8M | โ$41.4M | โ$26.3M | โ$19.4M | โ$18.4M | โ$9.6M |
| Diluted EPS | โ$2.60 | โ$2.31 | โ$1.99 | โ$1.27 | โ$0.76 | โ$0.64 | โ$6.78 | โ$4.15 | โ$77.16 | โ$6.46 |
| Diluted shares | 0.02B | 0.02B | 0.03B | 0.03B | 0.04B | 0.06B | 0.00B | 0.00B | 0.00B | 0.00B |
| Cash flow | ||||||||||
| Cash from operations | โ$33.1M | โ$34.4M | โ$32.5M | โ$26.6M | โ$24.8M | โ$28.7M | โ$23.6M | โ$19.2M | โ$17.6M | โ$12.4M |
| Capital expenditure | $1.1M | $0.8M | $0.9M | $0.2M | $0.1M | $0.4M | $0.2M | $0.2M | $0.1M | $0.1M |
| Free cash flow | โ$34.2M | โ$35.2M | โ$33.4M | โ$26.8M | โ$24.9M | โ$29.1M | โ$23.8M | โ$19.4M | โ$17.7M | โ$12.5M |
| Depreciation and amortization | $1.0M | $1.3M | $1.1M | $0.8M | $0.4M | $0.3M | $0.2M | $0.2M | $0.2M | $0.1M |
| Stock-based compensation | $9.5M | $15.8M | $16.8M | $10.6M | $7.9M | $11.9M | $2.9M | $1.7M | $0.8M | $0.3M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $31.3M | $12.8M | $20.1M | $21.7M | $50.7M | $49.1M | $26.3M | $13.9M | $1.4M | $10.4M |
| Total debt | โ | โ | โ | โ | โ | โ | โ | โ | $0.8M | $0.1M |
| Current assets | $32.9M | $13.9M | $20.8M | $22.2M | $51.4M | $50.2M | $27.4M | $15.0M | $2.9M | $15.3M |
| Current liabilities | $6.7M | $3.6M | $3.6M | $4.5M | $3.5M | $4.3M | $3.8M | $4.6M | $4.9M | $3.7M |
| Inventory | โ | โ | โ | โ | โ | โ | $0.1M | $0.4M | $0.5M | $1.5M |
| Property and equipment, net | $2.2M | $1.4M | $1.2M | $0.6M | $0.4M | $0.5M | $0.4M | $0.4M | $0.4M | $0.3M |
| Total assets | $35.3M | $15.4M | $22.0M | $24.9M | $53.1M | $51.4M | $29.8M | $16.7M | $3.8M | $16.7M |
| Total liabilities | $6.7M | $3.6M | $3.6M | $5.9M | $4.1M | $4.4M | $5.1M | $5.2M | $4.9M | $4.2M |
| Preferred stock | $0.0M | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| Shareholders' equity | $28.6M | $11.8M | $18.4M | $19.0M | $49.1M | $47.0M | $24.6M | $11.5M | โ$1.1M | $12.5M |
| Margins | ||||||||||
| Gross margin | โ | โ | โ | โ | 61.4% | โ | โ50.1% | 41.1% | 1.6% | 36.0% |
| Operating margin | โ3,156.6% | โ4,279.7% | โ9,893.0% | โ19,394.3% | โ9,743.2% | โ5,474.7% | โ3,134.8% | โ4,662.2% | โ2,397.1% | โ177.9% |
| EBITDA margin | โ3,090.6% | โ4,166.2% | โ9,688.2% | โ19,003.8% | โ9,634.4% | โ5,440.6% | โ3,105.8% | โ4,622.8% | โ2,371.6% | โ175.4% |
| Net margin | โ3,155.7% | โ4,278.8% | โ9,875.7% | โ19,190.0% | โ9,722.7% | โ5,474.0% | โ3,086.5% | โ4,085.9% | โ2,395.6% | โ170.4% |
| FCF margin | โ2,355.5% | โ3,054.4% | โ6,485.4% | โ13,401.9% | โ7,614.0% | โ3,843.3% | โ2,795.9% | โ4,100.4% | โ2,304.2% | โ222.1% |
| Net interest share of revenue | 0.9% | 1.0% | 17.3% | 208.0% | 21.7% | 0.7% | 48.3% | 170.7% | โ | 2.9% |
| Returns | ||||||||||
| Return on capital | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ362.1% |
| Return on capital employed | โ160.5% | โ420.0% | โ277.2% | โ190.1% | โ64.3% | โ88.1% | โ103.0% | โ183.3% | 1,709.4% | โ76.5% |
| Return on equity | โ160.5% | โ245.0% | โ337.5% | โ205.4% | โ93.5% | โ86.3% | โ73.4% | โ107.2% | โ353.1% | โ168.0% |
| Return on assets | โ129.9% | โ194.9% | โ271.8% | โ163.8% | โ81.6% | โ79.3% | โ64.8% | โ83.4% | โ179.7% | โ93.4% |
| Return on tangible equity | โ160.5% | โ419.9% | โ276.8% | โ202.0% | โ64.9% | โ88.2% | โ106.6% | โ168.4% | โ | โ76.8% |
| Growth | ||||||||||
| Revenue growth | โ | โ20.5% | โ55.4% | โ61.1% | 63.6% | 131.2% | 12.5% | โ44.3% | 62.0% | 633.1% |
| Share count change | โ | 20.9% | 19.4% | 18.7% | 37.6% | 55.9% | โ94.0% | 20.4% | โ94.9% | 522.7% |
| Financial health | ||||||||||
| Debt / equity | โ | โ | โ | โ | โ | โ | โ | โ | โ | 0.0x |
| Interest coverage | โ | โ | โ | โ | โ | โ | โ | โ | โ92.1x | โ50.1x |
| Current ratio | 4.9x | 3.8x | 5.7x | 5.0x | 14.7x | 11.6x | 7.1x | 3.2x | 0.6x | 4.2x |
| Quick ratio | 4.9x | 3.8x | 5.7x | 5.0x | 14.7x | 11.6x | 7.1x | 3.2x | 0.5x | 3.8x |
| Capital allocation | ||||||||||
| Capex / revenue | 78.3% | 70.8% | 167.0% | 98.1% | 41.7% | 48.3% | 19.4% | 39.5% | 16.0% | 1.5% |
| Stock comp / revenue | 654.9% | 1,369.4% | 3,254.4% | 5,320.6% | 2,412.3% | 1,576.5% | 342.9% | 354.0% | 104.0% | 5.0% |
| Quality scores | ||||||||||
| Piotroski F-score | โ | 2.0 | 3.0 | 2.0 | 3.0 | 2.0 | 3.0 | 2.0 | 3.0 | 5.0 |
| Altman Z'' | โ10.9 | โ50.6 | โ38.4 | โ36.9 | โ3.6 | โ9.7 | โ35.5 | โ77.2 | โ380.2 | โ76.2 |
| Accruals ratio | โ36.2% | โ59.0% | โ97.9% | โ50.2% | โ18.0% | โ24.3% | โ6.5% | โ0.5% | โ8.1% | 27.5% |
Source: SEC EDGAR XBRL filings (CIK 0001575793). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only โ not investment advice. Check the original filings before relying on any figure.
