Energous Corporation

Good day and welcome to the Energist Corporation fourth quarter and full year 2021 financial results. 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 Matt Sullivan. 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, energy 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 Cesar Johnston, CEO of Energist. Please go ahead, Cesar.

Thanks, Matt. Good afternoon, and welcome to the EnerGIS 2021 fourth quarter conference call. Joining me today is Bill Manina, our acting chief financial officer. Today, it's a pleasure to deliver my first earnings call as EnerGIS CEO. We are very proud to report that during the fourth quarter of 2021, we successfully fulfilled our first customer orders for the first WattApp PowerBridge distance charging products that can be commercially deployed in real world and potential volume applications. We are excited for this accomplishment as we noted on earlier calls that this was a top goal for us to achieve before the end of 2021. As you have seen, energy's focus has evolved in the last year and today we strive to be a leader in IoT wireless power networks. Our goal is to use our unique capabilities to deliver power at a distance, allowing customers to deploy IoT systems without power cables and wires, alleviating the need and significant cost for cumbersome battery replacement and supporting a new generation of battery-free IoT devices. Our aim is to produce distance charging technology that can power a new generation of IoT received devices, giving them placement flexibility while also delivering higher levels of sustained power to support, for instance, advanced artificial intelligence processing capabilities. Our WADAP technologies, in conjunction with several recent certification achievements and the fast rise of connected IoT devices, position the company well for the development and deployment of IoT wireless powered networks. The wireless powered networks market opportunity is huge, and it includes up to 39.3 billion IoT devices by 2025, as reported by IDC in their worldwide global data sphere IoT device and data forecast 2021 to 2025. Also, multiple applications can be supported with potential IoT WPN deployments, we have targeted RF tags and electronic shelf labels as the first to focus on with our technology. As such, we are working with several partners to incorporate cloud software, communications infrastructure, what are power bridges, and market-specific devices to demonstrate a functional end-to-end market vertical solution. The first application is the integration of RF tags with our 1 watt power bridges, allowing tags to be battery-less and powered from these bridges at distances greater than 10 meters. We believe that in the future, these tags will be ubiquitous and deploy in multiple markets requiring tracking and sensor capabilities. We have partnered with the emerging RF tag leader, Wiliot, and we are very happy to report that we have received the first orders fully certified production-ready WattApp power bridges to energize Wiliot's IoT pixels for commercial deployment. These power bridges are currently shipping as part of the Wiliot starter kit, and partnering with a company like Wiliot allows us to quickly deploy our WattApp power bridges, capitalizing on the momentum of their product. The second application is for electronic shelf labels. In January, at the Consumer Electronics Show in Las Vegas, we demonstrated our WADA power bridges simultaneously charging and supporting the communication exchange between multiple battery-less ESL units connected to a Wi-Fi communications network over VLE links. Our focus on ESL is to continue our development while identifying potential customer interest in the coming months. As part Of our financial performance, we are pleased to report that our fourth quarter 2021 revenue rose to $225,000 for a total of $757,000 for the year as compared to the fourth quarter 2020 with a total of $90,000 and a full year 2020 total of $327,000. Revenues were up from 2011 $201,000 in the third quarter. And I want to emphasize that top line growth is a priority for 2022. Bill will provide a more detailed breakdown of our financial results. We continue to make good progress on our operations execution with the transfer of our EN4100, EN3210, EN2210, and EN2223 CMOS devices supply chain, transition in production from our previous partner, Dialog2 Energes. At this time, the EN4100 and EN32 devices have been fully enabled in our production and testing facilities while we continue work in completing the transfer of the EN2210 and EN2223 devices. Although this continues to be a difficult time for fabulous companies securing foundry allocation and testing capacity, we've had little interruption in the supply chain to date as we prepare to support our customers' demand through the next quarters. On the technical side, our engineering team delivered the OneWatt WADA power bridge to production, including the ramp-up of manufacturing lines with the capability of delivering thousands of devices. We are proud to report that our first order of WADA power bridge devices was received and delivered in the fourth quarter of 2021, with pending orders expected to be fulfilled in this and forthcoming quarters. In summary, the one WADA power bridge products are customer ready and add to our line of semiconductor devices and positions energies as a comprehensive provider for end-to-end wireless power network technologies. Customers can procure our semiconductor devices, allowing them to use their engineering expertise to design their own transmitters, or they have the choice to purchase fully functional off-the-shelf transmitter devices from us. We believe that we're well positioned to become a leading IoT wireless power network solution provider. Also, as part of CES 2022, we demonstrated the world's first IoT wireless power network leveraging Juniper MIS Wi-Fi access points connected to multiple Watt app power bridge transmitters at one watt and five watts. Importantly, we showed charging received device interoperability by simultaneously powering RF tags from Williott controlled by their sensing as a service cloud software, ESL tags using EPS devices, an IoT device using Atmosic VLE chips, and network edge computing driven by Syntient artificial intelligence voice recognition technology, all of which were managed by the WattApp software. Syntient is our newly announced IoT partner who has developed an ultra-low power deep learning architecture in the form of neural decision processors for deep learning processing at the IoT edge. This partnership was announced on January 5th, 2022. To summarize, at CES 2022, Energes presented a glimpse of what the future of the IoT wireless power network world would look like. The Energes solutions in conjunction with our partners technologies have the potential to deliver power solutions to real world problems. We look forward to continuing developing the critical partnerships and technologies that accelerate the usefulness of IoT deployments. Moving on to an update on our regulatory efforts. In the fourth quarter, we achieved significant regulatory milestones as we were granted approval for our OneWatt Water Power Bridge product in the United States, the European Union, India, and Canada for unlimited distance charging. Progress also continues at the International Telecommunications Union, ITU, towards 900 megahertz global allocation for wireless transfer. In the United States, we are excited to see that the FCC confirmed their efforts to open up high power, which is greater than one watt wireless power transfer without distance limitations. Also, during the fourth quarter, we were granted FCC certification for our 10 watt WADA power hub, which nearly doubled the power that could be transmitted wirelessly. Our WADA power bridge and power hub transmission capabilities of one watt, five watts, and 10 watts will open up more potential applications in the future while also providing the immediate capability to improve the performance and range of our current target applications. Overall, Energest continues to make progress on our vision to be the leader in IoT wireless power networks. In pursuit of that, we want to share our short-term and long-term goals. As part of short-term goals, we are looking at fulfilling the delivery of the one what-app power bridge orders. We are looking at identifying RF tag applications into potential markets, and we are targeting our first pilot deployment. We have completed our electronic shelf label end-to-end system, and we are working on identifying a market launch customer. And as far as long-term goals, it is important for us to support the Air Fuel Alliance efforts to make WPT, wireless power transfer, a standard. We continue to lead our ITU recommendation to align 900 megahertz wireless power transfer spectrum as the first designated wireless power spectrum worldwide. We are working and will continue to work on certifying High power, meaning greater than what conducted power IoT wireless power network power bridge transmitters in the US and the European Union without distance limitations. We will identify potential markets or applications of ESL vertical markets and target first pilot deployment. We will work on identifying a third vertical market and build an end-to-end system for customer technology demonstration. Most important, we will deliver year-over-year revenue growth driven by expanding IoT WPN deployments. I will now turn the call over to Bill Manina, our Acting CFO. Bill. Thanks, Cesar.