Energous Revenue Fell Below $50,000 in Q2; It's Awaiting Asia Approvals for Charging Tech

Energous shares fell Friday after the company’s Q2 earnings report showing revenue of $48,000 vs. $206,000 in the year-ago quarter, despite commercial availability of the first product to incorporate Energous wireless charging technology. SK Telesys’ long-promised Delight Oasis-RC personal sound amplification product with WattUp wireless charging from Energous ($349) began selling on Amazon last week after missing its promised delivery schedule early this year. Energous CEO Steve Rizzone said on a Thursday earnings call the company expects additional chip orders during the second half. Target categories for the company’s contact-based charging also include hearing aids, fitness bands, smart glasses and wearables, he said. The company secured regulatory approvals for its RF-based wireless charging technology in the U.S. and Europe but awaits approvals in China, Japan and Korea, where they've “taken longer than we originally anticipated.” Rizzone maintained Energous has “a number of top-tier consumer opportunities, both contact and distance-based that we're actively engaged in.” Shares closed 5.3 percent lower Friday to $3.79.