Added to YB: 2026-03-27
Pitch date: 2026-03-25
WATT [bearish]
Energous Corporation
Author Info
Fugazi Research exposes inflated valuations built on illusion — not substance. We dissect the narratives, trace the incentives, and reveal who’s really cashing in. In a market full of noise, we show what’s real behind the fugazi. Sign up for the newsletter.
Company Info
Energous Corporation provides wireless charging system solutions in the United States. The company develops over-the-air Wireless Power Network (WPN) technology that integrates advanced semiconductor chipsets, software controls, hardware designs, and antenna systems to enable radio frequency (RF) based charging for Internet of Things (IoT) devices.
Market Cap
$39.4M
Pitch Price
N/A
Price Target
N/A
Dividend
N/A
EV/EBITDA
-3.65
P/E
-2.80
EV/Sales
N/A
Sector
Electrical Equipment
Category
N/A
$WATT: A Decade of Promises, A Business Funded by Dilution
WATT (short): Wireless charging dev w/ $2.6M 9mo25 rev, -$8.3M net loss (-319% margin), burns $1.1M/mo vs $290K rev. Raised $21.6M via ATM/warrants to survive. $408M accumulated deficit over decade, 21 equity raises since 2019, 1-for-30 reverse split, shares up 458% post-split. $64M ATM overhang (>market cap). 81% rev from 2 customers. CEO=CFO (Burak, ex-Knightscope CFO where shares fell 99%). Low product traction vs better-funded competitors like Powercast. Executive comp $2.2M vs $800K annual rev. Dilution-dependent model, uninvestable.
Read full article (11 min)