Energous (WATT) saw its shares surge upwards in April on the FCC certification announcement. However, in the two-plus years since its December 2017 FCC certification announcement, it generated less than $1 million in total revenues, most of which appears to be from engineering services revenue. Until Energous can demonstrate that it can actually generate meaningful product revenue, it remains a strong sell.
With Energous withdrawing its revenue guidance for 2020, it appears that this will be another year with sub-$1 million revenue, likely putting its price to sales multiple in the