Energous ($WATT) is finally worth buying

I’m all in on Energous, a wireless energy transmission company that I think is about to skyrocket. Background: Energous makes wireless energy transmission devices. Essentially, they convert energy into radio frequencies and transmit to receiver devices that convert it back to energy. They previously did custom engineered solutions, which accounted for revenue in the low millions in 2015, but this revenue started to decline as they started focusing on out-of-the-box solutions. However development and rollout took a while and the company’s financial position started to deteriorate absent meaningful revenue. The company went from a $400 million market cap down to $10 million. Fast forward. In 2024 they began commercializing power transmitters at scale for use in retail inventory tracking devices, and started a pilot for a national retailer with 4,700 stores (rumored to be Walmart which also has 4,700) . As of the end of 2025, they had put devices in 500 of the retailer’s stores, with plans to outfit all of its stores by the end of 2026. They are also partnered with Williot, an inventory tracking provider, and are now integrated with AWS. They have had 0 returns. Their revenue grew from $800k in 2024 to $5 million+ in 2025, with quarter over quarter growth to $3 million in Q4. This would translate to $27 million in 2026 revenue linearly or $90 million at the 2026 growth rate. They have consistently lowered their cash burn, now at $10 million annually, and with a gross margin of 36% (expected to keep improving), their net loss was $1.5 million in Q4. This means that their breakeven is roughly at $7 million in revenue per quarter. So, if current trends dictate, they can plausibly be profitable by as early as Q2 2025, but certainly by Q4. Meanwhile, their market cap is $10 million and they have $12 million cash on hand, and they have very little debt due to a cash raise in 2024. They also recently got EU approval, raising the possibility of expansion into EU. At bottom, if their current revenue growth continues, this stock is massively undervalued and could absolutely explode if the trend continues.