14 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 76.6% per year over the past 5 years.
Operating margin has expanded, at -177.9% in the latest year.
Financial health
The company is unprofitable and has less than a year of cash runway at its current free-cash-flow burn.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
2025
$6M
-$10M
36.0%
-177.9%
-$13M
—
$10M
2024
$768000
-$18M
1.6%
-2397.1%
-$18M
—
$1M
2023
$474000
-$19M
41.1%
-4662.2%
-$19M
—
$14M
2022
$851321
-$26M
-50.1%
-3134.7%
-$24M
—
$26M
2021
$756793
-$41M
0.0%
-5474.8%
-$29M
—
$49M
2020
$327350
-$32M
61.3%
-9744.7%
-$25M
—
$51M
2019
$200143
-$38M
0.0%
-19390.1%
-$27M
—
$22M
2018
$514823
-$51M
0.0%
-9892.6%
-$33M
—
$20M
2017
$1M
-$49M
0.0%
-4279.7%
-$35M
—
$13M
2016
—
-$46M
—
—
-$34M
—
$31M
2015
—
-$28M
—
—
-$21M
—
$30M
2014
—
-$46M
—
—
—
—
$31M
2014
—
-$37M
—
—
—
$124009
$730279
2013
—
-$6M
—
—
—
—
$2M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
Mar '26
$3M
-$2M
35.5%
-59.9%
-$6M
—
$37M
Dec '25
$3M
-$1M
37.5%
-47.1%
-$2M
—
$10M
Sep '25
$1M
-$2M
36.0%
-172.2%
-$2M
—
$13M
Jun '25
$975000
-$3M
34.7%
-285.1%
-$3M
—
$9M
Mar '25
$343000
-$3M
27.1%
-1052.8%
-$5M
—
$10M
Dec '24
$428000
-$4M
48.8%
-820.8%
-$3M
—
$1M
Sep '24
$230000
-$3M
-33.0%
-1557.0%
-$4M
—
$1M
Jun '24
$46000
-$4M
-165.2%
-10110.9%
-$6M
—
$5M
Mar '24
$64000
-$7M
-70.3%
-10414.1%
-$5M
—
$11M
Dec '23
$91000
-$5M
90.1%
-5050.5%
-$3M
—
$14M
Sep '23
$169000
-$4M
71.6%
-3006.5%
-$4M
—
$17M
Jun '23
$117000
-$4M
29.1%
-5237.6%
—
—
$20M
Mar '23
$97000
-$7M
-43.3%
-6488.7%
—
—
$26M
Dec '22
$179188
-$6M
-113.7%
-3548.4%
-$5M
—
$26M
Sep '22
$223201
-$6M
-88.2%
-2736.4%
-$5M
—
$30M
Jun '22
$232971
-$7M
-16.5%
-3032.5%
-$7M
—
$36M
Mar '22
$215961
-$7M
5.9%
-3313.4%
-$6M
—
$43M
Dec '21
$225404
-$9M
0.0%
-4180.4%
-$6M
—
$49M
Sep '21
$201364
-$12M
0.0%
-6190.5%
-$10M
—
$28M
Jun '21
$184960
-$11M
0.0%
-5956.3%
-$7M
—
$38M
Valuation over time
How the market has priced WATT against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-sales ratio has risen from 3.4× (Mar '23) to 23.5× (Jun '26).
Price / sales (P/S)
P/S
Frequently asked questions
Is WATT growing its revenue and profit?
Over the past 5 years, Energous Corp's revenue has grown 76.6% per year. These are computed facts, not advice.
How much debt does WATT have?
As of FY2025, Energous Corp reported — of total debt against $10M of cash.
What is WATT's profit margin?
In FY2025, gross margin was 36.0%, operating margin -177.9%, and net margin -170.4%.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.