Energous Corporation (NASDAQ:WATT) Q3 2023 Earnings Conference Call November 9, 2023 4:30 PM ET

Company Participants

Craig MacPhail - Investor Relations

Cesar Johnston - President and Chief Executive Officer

Susan Kim Van Dongen - Interim Chief Financial Officer

Conference Call Participants

Suji Desilva - ROTH Capital Partners, LLC

Jon Hickman - Ladenburg Thalmann

Operator

Hello. Good day, and welcome to the Energous Corporation Third Quarter 2023 Financial Results. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session.

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

Craig MacPhail

Thank you, Jeremy, 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. Reconciliations 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, President and CEO of Energous Corporation. Please go ahead, Cesar.

Cesar Johnston

Thanks, Craig. Good afternoon. Thank you for joining today, and welcome to the Energous 2023 third quarter conference call. Joining me today is Susan Kim Van Dongen, our Interim Chief Financial Officer.

Let me start first with a short business update. Energous continues to successfully execute its smart IoT-centric strategy that we initiated in early 2022 when we reposition and we retargeted the company to develop IoT power charging products at a distance using the intellectual property, regulatory knowledge and the market experience that had been built by the company from the previous years of operation and which is backed by our 200-plus patent portfolio.

The new strategy has been focused on enabling new high-value IoT markets using Energous wireless power networks. These networks allow our customers greater placement freedom, mobility, security, and lower installation costs by removing the need for wires and batteries across RF-tags, electronic smart labels and sensor applications typically within a cloud-enabled environment.