Energous Corporation (NASDAQ:WATT) Q4 2022 Earnings Call Transcript

Bill Mannina: Hi Suji, it’s Bill. You just mentioned our guidance. Our guidance is year-over-year revenue growth of 20% or more.

Suji Desilva: 20%. Sorry about that. So, in that growth in €˜23, how many of the 10 programs do you expect to contribute roughly, just to get a sense of how diversified broad there?

Cesar Johnston: We are early in the development right now, and that is a function of the willingness and the need of the potential customers what €“ and it also varies depending on the customer, okay. And so let me give you an example. We already €“ today, we announced actually one of them in production, right. And that particular production happens to be an interesting deployment and in the hundreds of numbers. And that particular one was probably done, I would say within seven months to eight months, right. And just to give you a better answer to your question, perhaps, the fact that we are looking to a potential revenue growth weighted towards the second half of the year. That can give you a good idea of what we are expecting to see out of that.

But reality is that while we have those plans, we continue to grow and work on more of those PoCs that eventually will become production, okay. But as we mature, we will be in a better position to give you more specifics about that €“ I think there with the year, yes.

Suji Desilva: Alright. Thanks.

Operator: This concludes our question-and-answer session. I would like to turn the conference back over to Cesar Johnston, Chief Executive Officer, for any closing remarks.

Cesar Johnston: Thank you. Energous is leading the current IoT digital transformation through its advanced active energy harvesting IoT wireless-powered networks, allowing for ubiquitous deployment of smart IoT components without the needs of batteries or cables. 2022 was a year of important achievements that has now positioned us well into 2023. We will support and grow our ecosystem of partners and continue to identify new customer opportunities for IoT wireless-powered network installations, leading to ultimately increased revenue and cash flow generation for Energous. Thank you to all our shareholders, stakeholders and Energous team members for their support. And we look forward to updating you on the company progress on our next quarterly call.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.