Ideal Power Reports Second Quarter 2025 Financial Results
Ideal Power (NASDAQ: IPWR), developer of B-TRAN庐 bidirectional semiconductor power switches, reported its Q2 2025 financial results. The company's first design win customer is finalizing B-TRAN庐-enabled solid-state circuit breaker prototype testing, with product launch expected later this year. Stellantis approved a purchase order for custom development and packaged B-TRAN庐 devices for multiple EV applications.
Financial highlights include operating expenses of $3.1 million (up from $2.9M in Q2 2024), a net loss of $3.0 million (versus $2.7M in Q2 2024), and cash position of $11.1 million with no long-term debt. The company expanded its partnerships, adding collaborations with two new global Tier 1 automotive suppliers and Kaimei Electronic Corp. for Asian distribution.
Ideal Power (NASDAQ: IPWR), sviluppatore degli interruttori di potenza a semiconduttore bidirezionali B-TRAN庐, ha comunicato i risultati finanziari del secondo trimestre 2025. Il primo cliente che ha ottenuto il design sta ultimando i test sul prototipo di interruttore di circuito a stato solido abilitato da B-TRAN庐, con il lancio del prodotto previsto entro la fine dell'anno. Stellantis ha approvato un ordine d'acquisto per lo sviluppo personalizzato e per dispositivi B-TRAN庐 confezionati destinati a diverse applicazioni per veicoli elettrici.
I principali dati finanziari includono spese operative pari a 3,1 milioni di dollari (in aumento rispetto a 2,9 milioni di dollari nel Q2 2024), una perdita netta di 3,0 milioni di dollari (contro 2,7 milioni di dollari nel Q2 2024) e una posizione di cassa di 11,1 milioni di dollari senza debiti a lungo termine. L'azienda ha inoltre ampliato le partnership, avviando collaborazioni con due nuovi fornitori automobilistici Tier 1 a livello globale e con Kaimei Electronic Corp. per la distribuzione in Asia.
Ideal Power (NASDAQ: IPWR), desarrollador de los interruptores de potencia semiconductores bidireccionales B-TRAN庐, inform贸 sus resultados del segundo trimestre de 2025. El primer cliente con design win est谩 finalizando las pruebas del prototipo de interruptor de circuito de estado s贸lido habilitado por B-TRAN庐, y se espera el lanzamiento del producto m谩s adelante este a帽o. Stellantis aprob贸 una orden de compra para el desarrollo personalizado y dispositivos B-TRAN庐 empaquetados para m煤ltiples aplicaciones en veh铆culos el茅ctricos.
Los aspectos financieros incluyen gastos operativos de 3,1 millones de d贸lares (frente a 2,9 millones en el Q2 2024), una p茅rdida neta de 3,0 millones de d贸lares (vs. 2,7 millones en el Q2 2024) y una posici贸n de caja de 11,1 millones de d贸lares sin deuda a largo plazo. La compa帽铆a ampli贸 sus asociaciones, incorporando colaboraciones con dos nuevos proveedores Tier 1 automotrices globales y con Kaimei Electronic Corp. para la distribuci贸n en Asia.
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鞛 頃橃澊霛检澊韸鸽電� 鞓侅梾牍勳毄 $3.1M (2024雲� 2攵勱赴 $2.9M鞐愳劀 歃濌皜), 靾滌啇鞁� $3.0M (2024雲� 2攵勱赴 $2.7M 雽�牍�), 攴鸽Μ瓿� 順勱笀 氤挫湢鞎� $11.1M鞐� 鞛リ赴 攵�毂� 鞐嗢潓鞚� 韽暔霅╇媹雼�. 須岇偓電� 韺岉姼雱堨嫮鞚� 頇曤寑頃橃棳 霊� 臧滌潣 鞁犼窚 旮�搿滊矊 Tier 1 鞛愲彊彀� 攵�頀堨梾觳� 氚� 鞎勳嫓鞎� 鞙犿喌鞚� 鞙勴暅 Kaimei Electronic Corp.鞕�鞚� 順戨牓鞚� 於旉皜頄堨姷雼堧嫟.
Ideal Power (NASDAQ: IPWR), d茅veloppeur des commutateurs de puissance semi-conducteurs bidirectionnels B-TRAN庐, a publi茅 ses r茅sultats du deuxi猫me trimestre 2025. Le premier client d茅tenteur du design finalise les essais du prototype de disjoncteur 脿 semi鈥慶onducteurs 茅quip茅 de B-TRAN庐, et le lancement du produit est pr茅vu plus tard cette ann茅e. Stellantis a approuv茅 un bon de commande pour le d茅veloppement sur mesure et des dispositifs B-TRAN庐 packag茅s destin茅s 脿 plusieurs applications VE.
Parmi les 茅l茅ments financiers cl茅s figurent des charges d'exploitation de 3,1 millions de dollars (contre 2,9 millions de dollars au Q2 2024), une perte nette de 3,0 millions de dollars (vs. 2,7 millions de dollars au Q2 2024) et une tr茅sorerie de 11,1 millions de dollars sans dettes 脿 long terme. La soci茅t茅 a renforc茅 ses partenariats en ajoutant des collaborations avec deux nouveaux fournisseurs automobiles Tier听1 mondiaux et avec Kaimei Electronic Corp. pour la distribution en Asie.
Ideal Power (NASDAQ: IPWR), Entwickler der bidirektionalen Halbleiter-Leistungsschalter B-TRAN庐, hat seine Finanzergebnisse f眉r das zweite Quartal 2025 ver枚ffentlicht. Der erste Design-Win-Kunde schlie脽t die Tests eines B-TRAN庐-basierten Prototyps eines Solid-State-Leistungsschalters ab; der Produktstart wird noch in diesem Jahr erwartet. Stellantis genehmigte eine Bestellung f眉r kundenspezifische Entwicklung und verpackte B-TRAN庐-Bauteile f眉r mehrere EV-Anwendungen.
Finanzielle Eckdaten umfassen Betriebsausgaben in H枚he von 3,1 Mio.听USD (gegen眉ber 2,9 Mio.听USD im Q2 2024), einen Nettoverlust von 3,0 Mio.听USD (vs. 2,7 Mio.听USD im Q2 2024) und eine Barmittelposition von 11,1 Mio.听USD ohne langfristige Verbindlichkeiten. Das Unternehmen erweiterte seine Partnerschaften und ging Kooperationen mit zwei neuen globalen Tier鈥�1鈥慉utomobilzulieferern sowie mit Kaimei Electronic Corp. f眉r den Vertrieb in Asien ein.
- Secured Stellantis purchase order approval for custom B-TRAN庐 devices for EV applications
- Added two new global Tier 1 automotive suppliers as partners (fourth and fifth)
- Established distribution partnership with Kaimei Electronic Corp. for Asian market access
- Strong intellectual property portfolio with 96 issued B-TRAN庐 patents and 74 pending
- Maintained solid cash position of $11.1M with no long-term debt
- Net loss increased to $3.0M in Q2 2025 from $2.7M in Q2 2024
- Operating expenses rose to $3.1M from $2.9M year-over-year
- Cash burn increased with $2.5M used in Q2 2025 versus $2.2M in Q2 2024
Insights
Ideal Power reports Q2 loss but shows commercial progress with automotive partnerships and upcoming product launches for their B-TRAN technology.
Ideal Power's Q2 2025 results reflect a company in the crucial pre-revenue commercialization phase of their proprietary B-TRAN庐 technology. The company reported a
The financial position remains stable with
What's truly significant is the commercial traction they're gaining. Their first design win customer is completing prototype testing of B-TRAN庐-enabled solid-state circuit breakers with product launch expected later this year. This represents Ideal Power's first genuine commercialization milestone and should transition them from a pure R&D company to one generating product revenue.
The automotive sector appears particularly promising with five global Tier 1 suppliers now evaluating their technology. The strategic relationship with Stellantis (manufacturer of Jeep, Chrysler, Dodge, Ram, Fiat, and other brands) for multiple EV applications could be transformative if successful. Stellantis has internally approved a purchase order for custom development, suggesting serious commercial intent.
The expanded Asian distribution partnership with Kaimei Electronic addresses the world's largest power electronics market, where adoption of new technologies typically occurs faster than in Western markets.
For investors, the key metrics to watch in coming quarters will be: 1) successful commercial launch with the first design win customer, 2) conversion of automotive evaluations to firm orders, particularly the Stellantis relationship, and 3) the pace of cash burn relative to revenue generation.
"Our first design win customer is nearing completion of their B-TRAN庐-enabled solid-state circuit breaker (SSCB) prototype testing. Following their initial product rollout later this year, we anticipate this OEM will expand its offerings to include a suite of B-TRAN庐-enabled SSCBs with a wide range of power ratings, presenting us with a significant revenue growth opportunity. Furthermore, we are now collaborating with our fourth and fifth global Tier 1 automotive suppliers as the automotive industry looks for low-loss, solid-state solutions for electric vehicle (EV) contactors. In addition, we're thrilled that Stellantis has internally approved a purchase order for custom development and packaged B-TRAN庐 devices targeting multiple electric vehicle applications. This strategic win will enable multiple uses of B-TRAN庐 across Stellantis' EV platforms," stated Dan Brdar, President and Chief Executive Officer of Ideal Power.
Key Second Quarter and Recent Operational Highlights
Execution to our听B-TRAN庐 commercial roadmap continues, including:
- Shipped updated solid-state circuit breaker prototypes with additional capabilities to our first design win customer. The customer is nearing completion of their SSCB prototype testing and is about to start gathering feedback on this new product from their end customers ahead of the B-TRAN庐-enabled product launch later this year.
- Entered into a collaboration with a fourth global Tier 1 automotive supplier. We anticipate they will begin evaluating B-TRAN庐 in the near term and our understanding is that they plan to launch a formal solid-state EV contactor program within the next few months.
- Secured order from a fifth global Tier 1 automotive supplier for several B-TRAN庐-enabled devices. The customer will evaluate these devices as part of their innovative solid-state EV contactor design implementation.
- Stellantis' order for custom development and packaged devices targeting multiple EV applications was approved internally with Ideal Power's receipt pending. We remain actively engaged with Stellantis, meeting regularly with them and their program partners on both EV contactor and drivetrain inverter programs and collaborating with them on automotive qualification and related requirements.
- Added partnership with Kaimei Electronic Corp. to distribute Ideal Power's products to their existing and prospective customers throughout
Asia , alongside their own product portfolio.Asia is the world's largest market for power electronics, and Asian companies typically adopt new technologies faster than their European andU.S. counterparts. - Shipped SSCB reference designs to several large companies currently evaluating our technology for SSCB or EV contactor applications. This includes two previously announced Forbes Global 500 power management market leaders, as well as our fourth and fifth global Tier 1 automotive suppliers.
- B-TRAN庐 Patent Estate: Currently at 96 issued B-TRAN庐 patents with 47 of those issued outside of
the United States and 74 pending B-TRAN庐 patents. Current geographic coverage includesNorth America ,China ,Taiwan ,Japan ,South Korea ,India , andEurope .
Second Quarter 2025 Financial Results
- Cash used in operating and investing activities in the second quarter of 2025 was
$2.5 million $2.2 million - Cash used in operating and investing activities in the first half of 2025 was
$4.6 million $4.2 million - Cash and cash equivalents totaled
$11.1 million - No long-term debt was outstanding at June 30, 2025.
- Operating expenses in the second quarter of 2025 were
$3.1 million $2.9 million - Net loss in the second quarter of 2025 was
$3.0 million $2.7 million
2025 Milestones
For 2025, the Company has set the following milestones:
鈥� Secure next phase of development program with Stellantis
鈭� Completed deliverables in 1H 2025 related to first design win
鈥� Capture additional design wins / custom development agreements
鈥� Start initial sales ramp in second half of year
鈥� Increase power rating of products
鈥� Complete third-party automotive qualification testing
Conference Call and Webcast: Second Quarter 2025
The Company will hold a conference call on Thursday, August 14, 2025 at 10:00 AM Eastern Time to discuss its results and host a question-and-answer session. Analysts and investors may pose questions for management during the live conference call.
Interested persons may access the live conference call by dialing 888-506-0062 (
The live webcast and interactive Q&A will be accessible on the Company's Q2 conference call webcast portal . The webcast will be archived on the Company's website for future viewing.
Upcoming Investor Conference
H.C. Wainwright 27th Annual Global Investment Conference in
Ideal Power plans to participate at the H.C. Wainwright in
The live, interactive webcast and slide presentation will be accessible on the Company's Investor Relations website under the Events tab . The timing of Ideal Power's presentation webcast and additional information about this conference will be provided by the Company when it is available.
About Ideal Power Inc.
Ideal Power (NASDAQ: IPWR) is the developer and innovative provider of its broadly patented bidirectional semiconductor power switch, creating highly efficient and ecofriendly energy control solutions for electric vehicle, electric vehicle charging, renewable energy, energy storage, UPS/data center, solid-state circuit breaker and other industrial and military applications. The Company is focused on its patented Bidirectional, Bipolar Junction Transistor (B-TRAN庐) semiconductor technology. B-TRAN庐 is a unique double-sided bidirectional AC switch that delivers substantial performance improvements over today's conventional power semiconductors. Ideal Power's B-TRAN庐 can reduce conduction and switching losses, complexity of thermal management and operating cost in AC power switching and control circuitry. For more information, visit the Company's website at , on , on and on .
Safe Harbor Statement
All statements in this release that are not based on historical fact are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. While Ideal Power's management has based any forward-looking statements included in this release on its current expectations, the information on which such expectations were based may change. Such forward-looking statements include, but are not limited to, statements regarding the pending status of our order from Stellantis for custom development enabling multiple uses of B-TRAN庐 across Stellantis' EV platforms, our expectation that the OEM from our first design win will launch its first B-TRAN庐-enabled product this year and expand its offering in the future to include a suite of B-TRAN庐-enabled SSCBs with a wide range of power ratings, and our understanding that the fourth global Tier 1 automotive supplier we are collaborating with will launch a formal solid-state EV contactor program within the next few months. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties and other factors, many of which are outside of our control that could cause actual results to materially differ from such statements. Such risks, uncertainties, and other factors include, but are not limited to, the success of our B-TRAN庐 technology, including whether the patents for our technology provide adequate protection and whether we can be successful in maintaining, enforcing and defending our patents, our inability to predict with precision or certainty the pace and timing of development and commercialization of our B-TRAN庐 technology, the rate and degree of market acceptance for our B-TRAN庐, the impact of global health pandemics on our business, supply chain disruptions, and the expected performance of future products incorporating our B-TRAN庐, and uncertainties set forth in our quarterly, annual and other reports filed with the Securities and Exchange Commission. Furthermore, we operate in a highly competitive and rapidly changing environment where new and unanticipated risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. We disclaim any intention to, and undertake no obligation to, update or revise forward-looking statements, except as required by applicable law.
Ideal Power Investor Relations Contact
Jeff Christensen
Darrow Associates Investor Relations
[email protected]
703-297-6917
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IDEAL POWER INC. | ||||
June 30, | December 31, | |||
ASSETS | ||||
Current assets: | ||||
Cash and cash equivalents | $ | 11,105,553 | $ | 15,842,850 |
Accounts receivable, net | 8,175 | 692 | ||
Inventory | 77,387 | 96,406 | ||
Prepayments and other current assets | 233,528 | 356,658 | ||
Total current assets | 11,424,643 | 16,296,606 | ||
Property and equipment, net | 382,451 | 415,232 | ||
Intangible assets, net | 2,681,808 | 2,611,998 | ||
Right of use asset | 441,325 | 483,497 | ||
Other assets | 17,789 | 19,351 | ||
Total assets | $ | 14,948,016 | $ | 19,826,684 |
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||
Current liabilities: | ||||
Accounts payable | $ | 152,715 | $ | 104,117 |
Accrued expenses听 | 663,642 | 374,012 | ||
Current portion of lease liability | 87,915 | 82,681 | ||
Total current liabilities | 904,272 | 560,810 | ||
Long-term lease liability | 358,446 | 403,335 | ||
Other long-term liabilities | 946,957 | 1,007,375 | ||
Total liabilities | 2,209,675 | 1,971,520 | ||
Stockholders' equity: | ||||
Common stock | 8,499 | 8,337 | ||
Additional paid-in capital | 125,950,104 | 125,327,300 | ||
Treasury stock听 | (13,210) | (13,210) | ||
Accumulated deficit | (113,207,052) | (107,467,263) | ||
Total stockholders' equity | 12,738,341 | 17,855,164 | ||
听 Total liabilities and stockholders' equity | $ | 14,948,016 | $ | 19,826,684 |
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IDEAL POWER INC. | |||||||||
Quarter Ended June 30, | Six Months Ended June 30, | ||||||||
2025 | 2024 | 2025 | 2024 | ||||||
Commercial revenue | $ | 1,275 | $ | 1,331 | $ | 13,278 | $ | 80,070 | |
Cost of commercial revenue | 3,477 | 17,474 | 34,339 | 85,972 | |||||
Gross profit (loss) | (2,202) | (16,143) | (21,061) | (5,902) | |||||
Operating expenses: | |||||||||
Research and development | 1,900,019 | 1,562,747 | 3,468,011 | 2,929,640 | |||||
General and administrative | 897,239 | 947,384 | 1,797,060 | 1,801,072 | |||||
Sales and marketing | 341,033 | 359,739 | 679,193 | 676,350 | |||||
Total operating expenses | 3,138,291 | 2,869,870 | 5,944,264 | 5,407,062 | |||||
Loss from operations | (3,140,493) | (2,886,013) | (5,965,325) | (5,412,964) | |||||
Interest income, net | 103,728 | 223,948 | 225,536 | 281,273 | |||||
Net loss | $ | (3,036,765) | $ | (2,662,065) | $ | (5,739,789) | $ | (5,131,691) | |
Net loss per share 鈥� basic and fully diluted | $ | (0.33) | $ | (0.31) | $ | (0.63) | $ | (0.69) | |
Weighted average number of shares | 9,116,519 | 8,514,581 | 9,109,225 | 7,417,260 | |||||
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IDEAL POWER INC. | ||||
听Six Months Ended June 30,听 | ||||
2025 | 2024 | |||
Cash flows from operating activities: | ||||
Net Loss | $ | (5,739,789) | (5,131,691) | |
Adjustments to reconcile net loss to net cash used in operating activities: | ||||
Depreciation and amortization | 182,107 | 163,871 | ||
Amortization of right of use asset | 42,172 | 34,948 | ||
Write-off of capitalized patents | - | 62,073 | ||
Write-off of property and equipment | 1,201 | 14,459 | ||
Gain on lease termination | - | (15,319) | ||
Stock-based compensation | 714,625 | 745,600 | ||
Decrease (increase) in operating assets: | ||||
Accounts receivable | (7,483) | 68,669 | ||
Inventory | 19,019 | 1,788 | ||
Prepaid expenses and other current assets | 124,692 | 160,007 | ||
Increase (decrease) in operating liabilities: | ||||
Accounts payable | 48,598 | (174,464) | ||
Accrued expenses and other liabilities | 229,212 | 135,175 | ||
Lease liability | (39,655) | (36,046) | ||
Net cash used in operating activities | (4,425,301) | (3,970,930) | ||
Cash flows from investing activities: | ||||
Purchase of property and equipment | (41,128) | (64,036) | ||
Acquisition of intangible assets | (179,209) | (174,968) | ||
Net cash used in investing activities | (220,337) | (239,004) | ||
Cash flows from financing activities: | ||||
Net proceeds from issuance of common stock and pre-funded warrants | - | 15,724,818 | ||
Exercise of options and warrants | 110 | 86,757 | ||
Payment of taxes related to restricted stock unit vesting | (91,769) | (11,579) | ||
Net cash provided by (used in) financing activities | (91,659) | 15,799,996 | ||
Net Increase (decrease) in cash and cash equivalents | (4,737,297) | 11,590,062 | ||
Cash and cash equivalents at beginning of period | 15,842,850 | 8,474,835 | ||
Cash and cash equivalents at end of the period | $ | 11,105,553 | $ | 20,064,897 |
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