"We continued to execute across our commercial priorities in the second quarter. We advanced our low current solid-state circuit breaker ("SSCB") project with our lead customer in
Somo continued, "We also achieved an important operational milestone by entering into a long-term supply agreement with a high-volume wafer foundry. Initial discussions with this foundry started in the first quarter and they've already successfully fabricated functional B-TRAN® first silicon. This foundry has the capacity to support high-volume industrial and automotive customers over the long-term, at a cost we believe supports our targeted gross margins at scale."
Key Second Quarter 2026 and Recent Business Highlights
Execution of our B-TRAN® commercial strategy continues, including:
- Continued advancing the first project with our lead
Asia customer as we are in the process of finalizing low current SSCB prototype units for shipment to the customer later this month for their internal testing. B-TRAN®-enabled SSCB prototypes are expected to be available from this customer for their 800V AI data center and energy grid end-customers in Q4 2026. - Delivered a second shipment of next generation B-TRAN® custom packaged samples and development kits for evaluation to Stellantis for EV applications. We are working closely with Stellantis on a detailed analysis of their solid-state contactor system-level specification to optimize the solution and align the remaining deliverables under the purchase order.
- Entered into a long-term supply agreement with a high-volume wafer foundry in
Asia and achieved functional B-TRAN® first silicon. This foundry has ample capacity to support high-volume industrial and automotive customers at a cost we believe will support our targeted gross margins at scale. - Seeing accelerating demand to support 800-volt DC architectures with a growing number of potential customers — including leading global electromechanical breaker manufacturers now seeking SSCB solutions. To accelerate potential adoption, we introduced a new 800-volt SSCB reference design kit ("RDK") for customers to evaluate our technology and assist in the development of their own SSCB products. One of our distribution partners has already placed its first stocking order for these SSCB RDKs.
- Advanced the co-development effort under the letter of intent we signed in the second quarter, collaborating with an industry partner on a B-TRAN®-enabled intelligent SSCB prototype planned for evaluation by a
U.S . hyperscaler in its development environment for the NVIDIA Rubin Ultra 800V DC AI data center power distribution system, with prototype delivery targeted for the end of Q4 2026. - Our newly formed
Advisory Board now includes its first member, Dr.Sanjai Parthasarathi , Chief Marketing Officer ofCoherent Corp. (NYSE: COHR), who brings more than 35 years of leadership across data centers, AI infrastructure, and related technology markets. His deep market expertise and industry network directly support our plans to accelerate the commercialization of our high-value, high-impact solutions. - B-TRAN®
Patent Estate : Currently at 105 issued B-TRAN® patents with 51 of those issued outside ofthe United States . Current geographic coverage includesNorth America ,China ,Taiwan ,Japan ,South Korea ,India , andEurope .
Second Quarter 2026 Financial Results
- Cash and cash equivalents totaled
$41.3 million atJune 30, 2026 . During the second quarter, we raised$27.7 million in net proceeds in a registered direct offering of common stock and pre-funded warrants. - Cash used in operating and investing activities in the second quarter of 2026 was
$2.5 million , flat compared to$2.5 million in the second quarter of 2025. - Cash used in operating and investing activities in the first six months of 2026 was
$4.8 million compared to$4.6 million in the first six months of 2025. - No long-term debt was outstanding at
June 30, 2026 . - Operating expenses in the second quarter of 2026 were
$3.6 million compared to$3.1 million in the second quarter of 2025 driven primarily by higher stock-based compensation expense, personnel costs, and non-cash patent impairment charges as we rationalized our pending patent portfolio. - Net loss in the second quarter of 2026 was
$3.4 million compared to$3.0 million in the second quarter of 2025. Net loss in the first six months of 2026 was$7.0 million compared to$5.7 million in the first six months of 2025.
Strategic Priorities
The Company has set the following strategic priorities:
- Continue adding new opportunities to the sales funnel.
- Drive initial revenue ramp by converting sales opportunities in the funnel to design-ins and custom development agreements.
- Secure production order(s) with our lead
Asia customer for its first SSCB products and continue to expand solutions to address additional markets and applications. - Complete remaining deliverables under the Stellantis purchase order and continue to advance opportunities for EV contactors and battery disconnect units with global automakers.
- Continue to explore strategic investment opportunities with global market leaders.
Conference Call and Webcast: Second Quarter 2026
The Company will hold a conference call on
Interested persons may access the live conference call by dialing 877-545--0523 (
The live webcast and interactive Q&A will be accessible on the Company's Investor Relations website under the Events tab HERE. The webcast will be archived on the Company's website for future viewing.
iAccess Alpha – Best Ideas Virtual Fall Investment Conference on
iAccess
About Ideal Power Inc.
Ideal Power (Nasdaq: IPWR) is the developer and provider of its innovative and widely patented B-TRAN® bidirectional semiconductor power switch. B-TRAN® offers compelling advantages over conventional technologies and addresses the demanding standards of today's solid-state circuit protection and intelligent power delivery systems. It features very low conduction losses that deliver improved power efficiency, thereby reducing energy consumption and providing cost savings. The unique bidirectional capability of B-TRAN® simplifies the design, control and diagnostics of solid-state power solutions while enabling smaller, lower cost systems. B-TRAN® delivers compelling advantages for a broad spectrum of applications including solid-state circuit breakers, static transfer switches, battery disconnect units and EV contactors that are widely used in data centers, industrial power systems, energy grid and storage systems, and electric vehicles and charging infrastructure. For more information, visit the Company's website at www.IdealPower.com, on LinkedIn, on Twitter, and on Facebook.
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 current and future projects with our lead Asia customer, co-development of a B-TRAN®-enabled SSCB prototype for a leading U.S. hyperscaler, our expectations related to remaining deliverables under the purchase order from Stellantis, and our expectations regarding operational results under our long-term supply agreement with a foundry. 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® 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® technology, the rate and degree of market acceptance for our B-TRAN®, the impact of global health pandemics on our business, supply chain disruptions, and the expected performance of future products incorporating our B-TRAN®, 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
jchristensen@darrowir.com
703-297-6917
Balance Sheets | ||||
(unaudited) | ||||
|
| |||
ASSETS | ||||
Current assets: | ||||
Cash and cash equivalents | $ | 41,294,488 | $ | 6,129,049 |
Accounts receivable | 29,800 | 24,000 | ||
Inventory | 62,425 | 9,700 | ||
Prepayments and other current assets | 208,338 | 377,901 | ||
Total current assets | 41,595,051 | 6,540,650 | ||
Property and equipment, net | 447,195 | 376,717 | ||
Intangible assets, net | 2,571,370 | 2,687,466 | ||
Right of use asset | 351,608 | 397,397 | ||
Other assets | 82,429 | 44,459 | ||
Total assets | $ | 45,047,653 | $ | 10,046,689 |
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||
Current liabilities: | ||||
Accounts payable | $ | 437,103 | $ | 408,398 |
Accrued expenses | 956,706 | 471,329 | ||
Current portion of lease liability | 99,194 | 93,435 | ||
Total current liabilities | 1,493,003 | 973,162 | ||
Long-term lease liability | 259,253 | 309,900 | ||
Other long-term liabilities | 824,559 | 886,538 | ||
Total liabilities | 2,576,815 | 2,169,600 | ||
Stockholders' equity: | ||||
Common stock | 16,423 | 8,539 | ||
Additional paid-in capital | 167,557,739 | 125,927,443 | ||
(13,210) | (13,210) | |||
Accumulated deficit | (125,090,114) | (118,045,683) | ||
Total stockholders' equity | 42,470,838 | 7,877,089 | ||
Total liabilities and stockholders' equity | $ | 45,047,653 | $ | 10,046,689 |
Statements of Operations | |||||||||
(unaudited) | |||||||||
Three Months Ended | Six Months Ended | ||||||||
2026 | 2025 | 2026 | 2025 | ||||||
Revenue | $ | 5,800 | $ | 1,275 | $ | 5,800 | $ | 13,278 | |
Cost of revenue | 4,008 | 3,477 | 4,008 | 34,339 | |||||
Gross profit (loss) | 1,792 | (2,202) | 1,792 | (21,061) | |||||
Operating expenses: | |||||||||
Research and development | 1,430,134 | 1,900,019 | 3,462,447 | 3,468,011 | |||||
General and administrative | 1,657,972 | 897,239 | 2,877,983 | 1,797,060 | |||||
Sales and marketing | 536,834 | 341,033 | 976,532 | 679,193 | |||||
Total operating expenses | 3,624,940 | 3,138,291 | 7,316,962 | 5,944,264 | |||||
Loss from operations | (3,623,148) | (3,140,493) | (7,315,170) | (5,965,325) | |||||
Interest income, net | 210,222 | 103,728 | 270,739 | 225,536 | |||||
Net loss | $ | (3,412,926) | $ | (3,036,765) | $ | (7,044,431) | $ | (5,739,789) | |
Net loss per share – basic and fully diluted | $ | (0.20) | $ | (0.33) | $ | (0.50) | $ | (0.63) | |
Weighted average number of shares | 16,934,431 | 9,116,519 | 14,062,446 | 9,109,225 | |||||
Statements of Cash Flows | ||||
(unaudited) | ||||
Six Months Ended | ||||
2026 | 2025 | |||
Cash flows from operating activities: | ||||
Net Loss | $ | (7,044,431) | $ | (5,739,789) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||||
Depreciation and amortization | 194,454 | 182,107 | ||
Amortization of right of use asset | 45,789 | 42,172 | ||
Write-off of capitalized patents | 215,133 | - | ||
Write-off of property and equipment | 79 | 1,201 | ||
Stock-based compensation | 1,635,526 | 714,625 | ||
Decrease (increase) in operating assets: | ||||
Accounts receivable | (5,800) | (7,483) | ||
Inventory | (52,725) | 19,019 | ||
Prepaid expenses and other assets | 131,593 | 124,692 | ||
Increase (decrease) in operating liabilities: | ||||
Accounts payable | 28,705 | 48,598 | ||
Accrued expenses and other liabilities | 423,398 | 229,212 | ||
Lease liability | (44,888) | (39,655) | ||
Net cash used in operating activities | (4,473,167) | (4,425,301) | ||
Cash flows from investing activities: | ||||
Purchase of property and equipment | (151,728) | (41,128) | ||
Acquisition of intangible assets | (212,320) | (179,209) | ||
Net cash used in investing activities | (364,048) | (220,337) | ||
Cash flows from financing activities: | ||||
Net proceeds from issuance of common stock and pre-funded warrants | 40,259,375 | - | ||
Proceeds from exercise of pre-funded warrants | 267 | 110 | ||
Payment of taxes upon vesting of stock units | (256,988) | (91,769) | ||
Net cash provided by (used in) financing activities | 40,002,654 | (91,659) | ||
Net Increase (decrease) in cash and cash equivalents | 35,165,439 | (4,737,297) | ||
Cash and cash equivalents at beginning of period | 6,129,049 | 15,842,850 | ||
Cash and cash equivalents at end of the period | $ | 41,294,488 | $ | 11,105,553 |
View original content to download multimedia:https://www.prnewswire.com/news-releases/ideal-power-reports-second-quarter-2026-financial-results-302850046.html
SOURCE