Energous Corporation

Good day and welcome to the InGeneris Corporation first quarter 2023 financial results 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 touch-tone 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 Craig McPhail, Investor Relations. Please go ahead.

Thank you, and welcome, everyone. Before we begin, I would like to remind participants that 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 laws, Energist 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 the 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, and SEC filings. Now, I would like to turn the call over to Cesar Johnston, CEO of Energist. Please go ahead, Cesar.

Thanks, Craig. Good afternoon and welcome to the ENERGYS 2023 first quarter conference call. Joining me is Bill Manina, our acting chief financial officer. ENERGYS started this year, 2023, with a solid foundation based on partnerships and initial business momentum. As we reported, our first 10 IoT proof of concept installations or what we refer to as POC installations using our WADAP technology. Our focus on increasing the number of energy technology installations continues to show promising results, and we are glad to announce that we have now expanded that number to a total of 14 in Q1 2023 across the retail, industrial, and healthcare markets in three different regions, including the U.S., the European Union, and in Asia. We believe that the increase in POCs is a strong product indicator in the adoption of our technologies and solutions. We will continue to report on POC status in the coming quarters as we feel it is the best metric to track the growth of our business. As the leader in the emerging IoT wireless power network market, we continue to execute our focused strategy to energize IoT devices in RF tags, electronic shelf labels, and sensor applications across the smart home, smart office, industrial, and retail and healthcare markets. We are focused on energizing a new generation of IoT devices, reducing the need for wires and batteries, and supporting device mobility and freedom of placement. We aim to enable ubiquitous receiver installations which can use the higher levels of available receiver power to support integrated artificial intelligence capabilities with the support from the next generation wireless power network infrastructure that our proven concept customers are installing using Energes power bridges and Energes semiconductor technologies. Yesterday, we announced the expansion of our portfolio with the availability of a new two watt power bridge transmitter pushing our technology and product leadership in IoT wireless power networks to a new level. The two-watt power bridge brings into the industry a level of performance and innovation designed to enable a new generation of charging devices using the latest Part 18 regulations in the U.S. and the latest international certification rules that now recognize wireless power networks as an emerging technology across the world. The new two-watt transmitter provides extended range, better coverage, and RF signal penetration, and it is built using Energia's intellectual property, semiconductor, and firmware capabilities. Customers will now be able to access and optimize their networks with one-watt and two-watt power bridge transmitters to safely provide them a high-range energy level resolution as required for their specific applications. The EnerGIS team is executing an IoT-based business strategy within a worldwide IoT market. The strategy is based on three fundamental pillars intended to ignite the wireless power network ecosystem. The first pillar has been a significant focus for our team. It consists of multiple technology partner companies that complement our technology capabilities to support the applications that we're focused on. That is, our TACs, electronic shape labels, and IoT sensors. Today, we work with 14 companies that support our technology partnership plans and whose technologies can be used as system blocks for our solutions. The other business strategic pillars are critical to delivering our products to the hands of potential end customers. Our second pillar includes distribution partners who facilitate our technology delivery through our semiconductor evaluation kit products to customers to evaluate, design, and build their IoT wireless power network solutions. As of today, we have announced two partners that are strategic to the markets on which we focus. We continue to identify more potential strategic companies to help us expand our customer reach. Finally, our third strategic pillar, which will be fundamental to support customers installing our products is establishing a global network of IoT system integrators with strong technical backgrounds and well-established business relationships. We are expanding our system integrator network, which we hope will lead to future further installations in the field. Let's now move our discussion to update our Q1 2023 specific progress. This past quarter, we welcomed three new IoT system integrator partners, SATO, ThinAir, and InnoTractor. SATO is a global IOID solutions provider for leading manufacturing, logistics, retail, food and beverage, and healthcare companies. ThinAir is a leading provider of IoT and indoor location services that enable organizations to optimize operations, improve their bottom line, and unlock new value from their assets. InnoTractor is an IoT company with the vision of zero waste supply chains. InnoTractor implements digital technologies for a better world. It reduces waste and emissions in supply chains by using IoT, blockchain, cloud, and the latest wireless technologies. Our newly announced partners have installed our PowerBridge wireless power networks in proof-of-concept deployments. For example, Sato announced its dynamic inventory replacement solution aimed at providing real-time on-shelf inventory data to retailers and brands, following testing at a Japanese convenience store. Thinner has also installed a solution for the U.S. DoD designed to monitor assets in secure areas by deploying energy-powered bridges at entrances to classified areas. Similarly, InnoTractor, installed power bridges to track shipments from a supplier in Sweden to a production facility in the Netherlands. InnoTractor has also installed energy as power bridges at a mining company to view information about pallets that carry mine materials to customers and to ensure that those customers are properly charged for each delivery. Finally, InnoTractor is using power bridges with a company tracking its full of returnable transport items to ensure that they do not go missing and are correctly routed to prevent any shortages in the RTI supply ecosystem. We believe that installation reports by our partners using our technology are strong product indicators for the future adoption of our technologies. We look forward to providing additional updates as they become available in the future. In Q1 2023, We also announced that Japan's regulatory body approved our one watt power bridge for unlimited power distance transmission. As a result, this effort completes a series of significant market approvals for one watt power bridge with similar certifications previously obtained in South Korea, China, the United States, Canada, the UK, Europe, India, Australia, and New Zealand. Finally, On the financial side, we recognize revenue of $90,000 for Q1 2023. This is down from the prior quarter. However, the number of proof-of-concept customers moving along the path to final production has increased compared with the prior quarter, and we believe that this is an important indicator of future revenue potential. We have made good progress in the last year with 14 POC installations as of today. and we are working to secure additional POC installations and higher production volumes in the future. As we move forward with building out these global POC installations, we may see some revenue fluctuations in our business on a quarterly basis. However, I encourage you to look at the growing installations trend, which we believe is an indicator of our future growth potential and which I will continue to outline over the next quarters. I will now turn the call over to Bill.