Energous Corporation (NASDAQ:WATT) Q2 2023 Earnings Conference Call August 10, 2023 4:30 PM ET

Company Participants

Craig MacPhail - Investor Relations

Cesar Johnston - Chief Executive Officer

Susan Kim Van Dongen - Interim Chief Financial Officer

Conference Call Participants

Suji Desilva - ROTH MKM

Jon Hickman - Ladenburg

Operator

Good afternoon and welcome to the Energous Corporation Second Quarter 2023 Financial Results Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note that this event is being recorded.

I would now like to turn the conference over to Craig MacPhail of Investor Relations. Please go ahead.

Craig MacPhail

Thank you and welcome, everyone. Before we begin, I would like to remind participants that during today's call, the company will make forward-looking statements. These statements whether in prepared remarks or during the Q&A session are subject to inherent risks and uncertainties that are detailed in the company's filings with the Securities and Exchange Commission.

Except as otherwise required by federal laws, Energous disclaims any obligation or undertaking to publicly release updates or revisions to the forward-looking statements contained herein or elsewhere to reflect changes in expectations with regard to those events, conditions and circumstances.

Also, please note that during this call, Energous will be discussing non-GAAP financial measures as defined by SEC Regulation G. Reconciliation of these non-GAAP financial measures to the most directly comparable GAAP measures are included in today's press release, which is posted on the company's website.

Now, I'd like to turn the call over to Cesar Johnston, CEO of Energous. Please go ahead, Cesar.

Cesar Johnston

Thanks, Craig. Good afternoon and welcome to the Energous 2023 second quarter conference call. Joining me today is Susan Kim Van Dongen, our Interim Chief Financial Officer. For those of you unfamiliar with our technology, Energous develops IoT wireless charging or wireless power networks through its Advanced Semiconductor and PowerBridge products based on its proprietary technologies.

Our strategy is to energize IoT devices in RF-tags, electronic shelf labels and sensor applications across the smart home, smart office, industrial, retail and healthcare markets. Energous power IoT devices operate without depending on large and costly replaceable batteries and the related operations replacement maintenance overhead.

We aim to enable smart IoT devices with placement freedom, mobility and lower installation costs by removing wires and electrical outlet requirements. Additionally, wireless power networks provide energy and connectivity to smart IoT devices, enabling control, monitoring and tracking of the IoT device in its environment. For example, a warehouse or a shelf label or medical equipment in a hospital environment.