Yahoo Finance Energous Corporation (NASDAQ:WATT) Q4 2023 Earnings Call Transcript
Energous Corporation (NASDAQ:WATT) Q4 2023 Earnings Call Transcript March 28, 2024
Energous Corporation beats earnings expectations. Reported EPS is $-0.76, expectations were $-0.85. WATT isn't one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).
Operator: Good day and welcome to the Energous Corporation Full Year 2023 Financial Results. All participants will be in listen-only mode. Please note this event is being recorded. I would now like to turn the conference over to Craig MacPhail, 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 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. Please note that we will not be making -- taking questions on this call. Investors are invited to submit any questions to ir@energous.com. Now I would like to turn the call over to Mallorie Burak, Principal Executive Officer and CFO of Energous Corporation. Please go ahead, Mallorie.
Mallorie Burak: Thanks, Craig, and thank you all for joining us. I'm here with Giampaolo Marino, our Vice President of Business Development and Marketing. I know our recent leadership change announcement is on your minds and I will say a few words about that before we get into the business update and review of the 2023 results. I want to start by reiterating that we are thankful to Cesar for his contributions to Energous, and we wish him well in the future. Our Board has initiated a search to identify a new CEO with the support of a search firm. While the search process is underway, the Board has established an Office of the Chair composed of myself and Reynette, our Board Chair, to take on the CEO duties. Together, we will oversee strategic planning and execution.
As our Interim Principal Executive Officer, I will take the lead on operational matters, working closely with Giampaolo and our senior leaders, Reynette will provide oversight and support from a Board perspective. Well, I have been in my role as CFO of Energous for just a few months, I bring many years of experience as CFO of high-growth and publicly traded technology companies. Since joining in January, I've had the opportunity to collaborate closely with our Board and senior team, and I'm confident in our ability to continue to deliver on our mission and take advantage of the large market opportunity for us in wire-free, low-power charging at a distance. We believe the important thing to take away from this announcement is that our Board, our leadership team and our -- and the whole Energous team are excited to move forward and build our next phase of growth in a strategic deliberate way.
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