Energous Corporation

Good day and welcome to the EnerGIS second quarter 2021 financial results conference call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing star then zero on your telephone keypad. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. To withdraw your question, please press star then two. Please note, this event is being recorded. I would now like to turn the conference over to Mike Bishop with the company's investor relations. Please go ahead.

Thank you, Andrew, 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 securities laws, and it just 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, Energist 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 would like to turn the call over to Brian Cerretta, CFO of Energist. Please go ahead, Brian.

Thanks, Mike, and good afternoon. I am Brian Cerretta, Chief Financial Officer, and before I begin, I'd like to point out two press releases that hit the wire just after close today. The first announcing organizational changes at Energist, and the second press release announcing our Q2 operating results ended March 31st, 2021. Joining me today is Cesar Johnson, Executive Vice President and Chief Operating Officer and Acting CEO. and Bill Menina, our VP Finance and Corporate Controller, who will assume the role as acting CFO next month as I transition to an advisory role. In addition to organizational changes, the company also announced Kathy Bayless joining our board as an independent director and member of the audit committee. Continuing with the discussion from last quarter, the goal of distance charging, or sending meaningful and sufficient energy at distance under global regulatory constraints, has been the goal of the company since it began life as a public company in 2014. Since then, significant technical and regulatory progress has transpired over the last several years, and we are now seeing the potential of the intersection of distance power transfer requirements and IoT powering big data via smart sensors and tag-like devices designed to collect more relevant and monetizable data that is not feasible through NFC or RFID legacy devices constrained by distance and lack of necessary communication protocols. In addition, thanks to advancements of the technology and recent regulatory approvals, distance charging and energy harvesting is becoming a reality and will bring new benefits to other industrial, medical, defense, and consumer verticals. And as we stated in our previous call, we continue to expect real examples of distance-based power transfer entering the market by the end of this fiscal year. We also expect that previously announced customers incorporating our contact-based solutions should finally appear in the market by the end of this year. Just a quick recap on the operating results for the second quarter and the June 30th before we get into the details. We continue to see modest progress in terms of revenue growth, closing Q2 with $185,000 in revenue versus $145,000 in Q1. Total Q2 gap expenses were $11.2 million versus $8.6 million in Q1, The difference primarily results in non-cash stock compensation charges in the quarter, and Bill will provide a breakdown of our financial results later in the call. With that, let me turn the call over to Cesar, who will provide an update on our regulatory, technical, and partnership progress.