Energous Corporation

Good day and welcome to the EnerGIS Corporation third quarter 2022 conference call. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star, then one on a touchtone phone. 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, Vishnavi, 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, NRGIS disclaims any obligation or undertaking to publicly release updates or revision 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'd like to turn the call over to Cesar Johnston, CEO of Energist. Please go ahead, Cesar.

Cesar Johnston, CEO of Energist. Thanks, Matt. Good afternoon, and welcome to the Energist 2022 Third Quarter Conference Call. Joining me today is Bill Manina, our Acting Chief Financial Officer. I am pleased to report that in the third quarter of 2022, energies deliver just over 10% year-over-year quarterly revenue growth, while continuing to improve our bottom line, driven by the demand and fulfillment of orders for our WADA power bridges. This is a strong indicator of the increasing demand for our wireless power network solutions, as you will now hear. In the third quarter of 2022, we made substantial progress. Firstly, we announced the first two retail deployments of energized water power bridges through our partnership with Flagship and Wiliot. These retail deployments, both in Australia, successfully demonstrate the installation of multiple water power bridges in an active harvesting wireless power transfer network, safely energizing thousands of Wiliot IoT pixels without the need of batteries and under the software control of Flagship. The installation provides retailers with in-store merchandise and customer dynamics tracking data. These installations perfectly showcase the suitability of the WattApp technology system capabilities for new potential adjacent markets, enabling energized rooms where power can be harvested by IoT devices, eliminating the need for batteries or power cables. In the third quarter of 2022, We also announced FCC approval for our 15 watt up power bridge, increasing regulatory approved distance and power levels for wireless power transfer. In addition, we further announced regulatory approvals for our one watt up power bridge in Australia and New Zealand, complementing our approvals in the US, Canada, EU, UK, India, and China. Our continued progress in the last nine months' time span highlights our strong technical and business leadership for IoT wireless power transfer at a distance. These regulatory achievements, combined with an IP portfolio of over 200 granted patents, position Enegis as a leader in wireless power transfer. Enegis remains committed to the global standardization of wireless power transfer, and we are pleased to note that in October, The United Nations International Telecommunications Union, ITU, approved and recommended the 900 megahertz radio frequency band for wireless power transfer energizing the IoT ecosystem. The 900 megahertz band recommendation supports the choice of frequency that we made at Energes to develop our technologies, and we and our partners and customers believe it is the best option for overall safety and system performance, including transmission reach, solution cost, and technology footprint. In a solution-focused IoT market, forming strategic partnerships is of fundamental importance to ensure the success of go-to-market and deployment. As such, over the last 12 months, Energys has formed important strategic partnerships with key technology players to address each specific market focus where we intend to deploy our technology. This quarter, we announced a new wireless energy harvesting evaluation kit supporting IoT industrial, retail, and medical applications in partnerships with EPs. This new kit, in addition to our previously released wireless power sensor evaluation kit in partnership with Almosic, consists of a one-watt WADA power bridge and specific receivers that allows customers to evaluate our technology and systems capabilities and fit to their needs. With international trade shows coming back from a pause due to COVID-19, we are excited to be exhibiting at Electronica in Munich, Germany from November 15th to the 18th. Electronica is one of the world's leading tech conferences and we will be on hand demonstrating some of our very best latest technologies in conjunction with our partners. And we welcome any of you present to visit our booth. In summary, Our progress in active energy harvesting, wireless power technologies, regulatory certifications, standardization efforts, system deployments for power at a distance over the last three quarters, with numerous achievements during Q3, has clearly positioned energies as a leader in unleashing the IoT market. It has also helped establish this industry as a recognized technology solution, well positioned to enable the current emergence of the IoT-based fourth industrial revolution with There are smaller IoT devices through its application of artificial intelligence. Turning now to a general company update on the goals that we set out for 2022. Our first short-term goal was to fulfill the commercial delivery of one Watt-Watt-App Power Bridges orders. We noted on our earnings call for second quarter 2022 that this goal had been met, and in Q3, we continued to shift against orders received. Our second near-term goal was to identify a beachhead RF tag application and related addressable markets, targeting our first production pilot deployment. We met this goal in Q3, and we announced our first two deployments of asset tracking devices with William and Flagship, the most recent at an Academia brand store in Australia. Lastly, on our third stated near-term goal, we were... were to complete the development of an electronic shelf-label end-to-end system and target a first pilot deployment. We continue to explore this market and potential partnerships opportunities. We would also like to reiterate our long-term goals and give an update on those. Our long-term goals are the following. Support Air Fuel Alliance efforts to develop a wireless power transfer standard. As a board member at the Air Fuel Alliance, We are excited to see the progress of the Air Fuel Alliance is making towards finalizing the wireless power transfer standard. We will give further updates on this goal as the Air Fuel Alliance progresses towards that standard. Our second long-term goal was to lead the ITU recommendation to align 900 megahertz wireless power transfer spectrum as the first designated wireless power spectrum worldwide. As we reported in October of this year, The ITU approved and recommended 900 megahertz for wireless power transfer. This historic achievement has opened up a vast number of accessible markets for wireless power transfer using the 900 megahertz band. Our third long-term goal is to certify high power, greater than one watt conducted power, IoT wireless power network power bridge transmitters in the US and the EU without distance limitations. With the 15-watt WADA power bridge FCC certification in the US that we announced in August, along with our earlier EU greater than one watt certification, we have achieved this objective. Our goal number four was to identify potential applications of ESL vertical markets and target first pilot deployment. As I mentioned earlier, we continue to explore this market and potential partnerships opportunities. Our long-term goal, Number five was to identify a third vertical market and build an end-to-end system for customer technology demonstrations. We are in the process of completing this goal with the identification of IoT sensors as our third vertical market with an end-to-end system currently under development. Finally, and most important, our sixth stated goal is to deliver year-over-year revenue growth driven by expanding IoT wireless power network deployments. I'm happy to report that through the third quarter of 2022, we have delivered year-over-year quarterly revenue growth in each quarter of 2022 and achieved approximately 27% year-over-year revenue growth for the nine-month period ended September 30th, 2022. I will now turn this call over to Bill Manina, our Acting CFO. Bill. Thanks, Cesar.