Energous Shares Fall as Lack of Asian Regulatory Approvals Causes Product Delays
Energous closed down 18 percent Friday to $2.32 after more disappointing results. “We are not where we expected to be from a revenue standpoint,” said CEO Stephen Rizzone on a Thursday call, citing lack of regulatory approvals in Asia as…
Sign up for a free preview to unlock the rest of this article
Timely, relevant coverage of court proceedings and agency rulings involving tariffs, classification, valuation, origin and antidumping and countervailing duties. Each day, Trade Law Daily subscribers receive a daily headline email, in-depth PDF edition and access to all relevant documents via our trade law source document library and website.
the cause of product delays for its wireless charging technology. The company, which received FCC approval for its WattUp midfield transmitter in 2017, posted Q3 revenue of $40,500, down from $228,000 in the year-ago quarter. Rizzone said it's possible a certification in China, Japan or Korea could open opportunities to some tier 1 global requirements that have been “put on hold” until certification. The company is now targeting medical sensors, smart glasses and wearables.