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Energous off estimates, -1.7% after hours

Published 11/07/2016, 04:22 PM
Energous off estimates, -1.7% after hours
WATT
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  • Results – revenue $1M (-51.9% Y/Y, $0.15M below estimates), EPS $0.57 ($0.14 below estimates), operating expenses $11.1M ($7.9M R&D, $2.5M G&A, $737K sales and marketing), net loss $10.1M, adjusted EBITDA loss $8M, cash and equivalents $25M
  • Energous (NASDAQ:WATT) president and CEO Stephen Rizzone: "Energous' vision of a WattUp-enabled ecosystem that spans a broad spectrum of devices, markets and technologies remains squarely on track, and will be accelerated through our new strategic partnership with Dialog Semiconductor. The partnership, which includes a $10-million investment in Energous, provides meaningful benefits and synergies to both companies and significantly validates our company and technology. Combined with the important progress we have made with our tier-one partner, new licensee signings and ongoing investment in the regulatory approval process, Energous is in a great position to fundamentally change a major consumer paradigm through a WattUp-enabled ecosystem."
  • Share price summary – 1-month, -20%; 3-month, +11%, 1-year, +63%
  • Earlier: Energous, Dialog Semiconductor form new strategic partnership
  • Prior quarters overview
  • Conference call
  • Press release

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