Energous Corporation (NASDAQ:WATT) Q3 2023 Earnings Call Transcript

Jon Hickman: So my math says that you’ll need revenues of like $400,000 to make that happen. Is that aligned with your math?

Cesar Johnston: Our math at the time when we started looking at this, look into basically the growth of the POCs and definitely, I mean, it really considers that. Otherwise, we would not have guided that way.

Jon Hickman: Okay. Thanks.

Cesar Johnston: No problem.

Operator: All right. We have no further questions at this time. I’ll turn it back over to the team at Energous for closing remarks.

Cesar Johnston: Great. Thank you. Energous’ smart IoT strategy is showing very promising results and our customers see the value offered by our IoT wireless power networks and evidence of this is the fact [Technical Difficulty].

Operator: I believe we just lost you, if you’re still there. Still can’t hear, you came in very briefly.

Cesar Johnston: Can you hear us now?

Operator: Yes, I can.

Cesar Johnston: Yes, I’m sorry, but Polycom here was not behaving properly. Okay. So Energous’ smart IoT strategy is showing very promising results and that our customers see the value offered by our IoT wireless power networks as evident by the 31 POC trial installations as of third quarter 2023. Of particular importance this quarter, we are glad to announce our partnership with Ecobyte, which we believe provides visibility into the installation complexity and type of customers that we work with, which shows an important example of the type of real-time asset and logistics applications that we have been talking about in the recent earnings calls. We continue to focus on increasing our revenue as these POC trials evolve while closely managing our OpEx spend. Thank you, all, our shareholders, stakeholders and Energous team members, and we look forward to updating you on the company progress again next quarter.

Operator: This concludes today’s conference call. Thank you for attending.