May. 13 at 8:30 PM
$WATT
🚨🚨🚨
Revenue of approximately
$3.1 million, up 799% year over year and 1% sequentially
Gross profit of
$1.1 million and 36% gross margin in Q1 2026
GAAP net loss reduced to about
$1.7 million, a 51% year-over-year improvement
Cash and cash equivalents of approximately
$36.6 million as of March 31, 2026
Raised
$31.9 million of net proceeds under ATM program during Q1 2026
Two active Fortune 10 commercial deployments with ~1,500 retail installations completed
Second U.S.-based contract manufacturer live, increasing production capacity
Company remains unprofitable with GAAP net loss of approximately
$1.7 million in Q1 2026
Non-GAAP operating expenses increased to about
$2.9 million from
$2.5 million year over year
Non-GAAP net loss of approximately
$1.6 million for Q1 2026
Significant use of ATM equity program in Q1 2026 to raise
$31.9 million
