The company has issued more shares over this period, which dilutes each existing shareholder’s stake.
Diluted shares outstanding: 108K (2021) → 1.5M (2025)
Energous Corporation is a company focused on developing cutting-edge wireless power solutions. Their primary offering is the innovative WattUp wireless power technology, a complete system designed to charge electronic devices using radio frequencies. This technology integrates specialized semiconductor chipsets, advanced software controls, unique hardware designs, and custom antennas. The applications for Energous's technology are extensive, covering smart home and building automation, digital price tags (electronic shelf labels), industrial Internet of Things (IoT) sensors, various medical devices (both external and internal), location trackers, audio devices (hearables), personal tech (wearables), general consumer electronics, and public safety equipment. Established in 2012, the company was originally known as DvineWave Inc. before officially changing its name to Energous Corporation in January 2014. Its corporate headquarters are situated in San Jose, California.
When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.
+798.5% YoY
YoY Growth Rate
Revenue accelerating
+68.5% YoY
YoY Growth Rate
Strong earnings growth
$4M/ year
↓ Declining (-50% vs prior year)
73.3% of revenue
4.9x the sector average (15%)
R&D spend declining — could signal cost-cutting or efficiency
~20 months
$37M cash & investments
Quarterly Free Cash Flow
↑ Burn rate improving
Adequate runway but may need to raise capital within 2 years
Energous Corporation grew revenue 799% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.
The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.
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Negative ROIC means the business is losing money on every dollar invested in it.
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Free cash flow is negative. They are burning cash, not generating it.
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