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IPWR

Ideal Power Inc.

IPWR

Ideal Power Inc. • NASDAQ
$3.75 ▼ -4.58% (-0.18)
Market Cap $31.92 M
52w High $8.62
52w Low $3.54
Dividend Yield 0%
P/E -3.02
Volume 28.20K
Outstanding Shares 8.51M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $24.45K ▲ $3.019M ▼ $-2.941M ▲ -12.027K% ▲ $-0.32 ▲ $-2.825M ▲
Q2-2025 $1.275K ▼ $3.138M ▲ $-3.037M ▼ -238.178K% ▼ $-0.33 ▼ $-3.028M ▼
Q1-2025 $12.003K ▲ $2.806M ▲ $-2.703M ▼ -22.52K% ▲ $-0.3 ▼ $-2.592M ▲
Q4-2024 $5.408K ▲ $2.758M ▼ $-2.596M ▲ -47.999K% ▲ $-0.29 ▲ $-2.668M ▲
Q3-2024 $554 $2.899M $-2.69M -485.622K% $-0.31 $-2.813M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $8.394M ▼ $12.226M ▼ $2.152M ▼ $10.074M ▼
Q2-2025 $11.106M ▼ $14.948M ▼ $2.21M ▲ $12.738M ▼
Q1-2025 $13.697M ▼ $17.594M ▼ $2.067M ▲ $15.527M ▼
Q4-2024 $15.843M ▼ $19.827M ▼ $1.972M ▼ $17.855M ▼
Q3-2024 $18.656M $22.601M $2.381M $20.22M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-2.941M ▲ $-2.548M ▼ $-156.401K ▼ $-7.065K ▲ $-2.711M ▼ $-2.618M ▼
Q2-2025 $-3.037M ▼ $-2.359M ▼ $-150.459K ▼ $-82.313K ▼ $-2.591M ▼ $-2.388M ▼
Q1-2025 $-2.703M ▼ $-2.067M ▲ $-69.878K ▼ $-9.346K ▲ $-2.146M ▲ $-2.078M ▲
Q4-2024 $-2.596M ▲ $-2.55M ▼ $-61.328K ▲ $-201.871K ▼ $-2.813M ▼ $-2.554M ▼
Q3-2024 $-2.69M $-2.222M $-206.096K $1.019M $-1.409M $-2.428M

Revenue by Products

Product Q1-2024Q2-2024Q3-2024Q4-2024
Development Revenue
Development Revenue
 $0 ▲$0 ▲$0 ▲$0 ▲
Grant
Grant
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Ideal Power is still essentially a pre‑revenue company. Over the last several years it has not generated meaningful product or service revenue, so its income statement is driven almost entirely by operating expenses, mainly research and development and corporate overhead. Losses have been steady and recurring, which is typical for an early-stage technology company investing ahead of commercialization. Earnings per share remain negative, reflecting this ongoing investment phase rather than any current business scale. The key story here is not current profitability, but whether and when the company can turn its technology into meaningful sales.

Balance Sheet

Balance Sheet The balance sheet is small but relatively clean. Assets are modest and largely made up of cash and equivalents. The company carries no financial debt, which reduces balance sheet risk but also means it depends on equity funding and, eventually, operating cash flows to sustain itself. Shareholders’ equity is positive, indicating that the company still has a financial cushion, but the narrow asset base underscores that it is a small, early-stage operation with limited physical or working capital. Overall, it looks lean and focused rather than asset-heavy.

Cash Flow

Cash Flow Cash flows are negative from operations, which is consistent with the lack of revenue and ongoing spending on development and commercialization. The cash burn appears controlled and there is essentially no spending on large physical assets, so most of the cash outflow is tied to people, design work, prototypes, and general overhead. Free cash flow is negative, again reflecting an R&D-driven business that has not yet turned the corner to self-funding. The main risk is duration: how long the company can support this pattern before needing additional capital, and whether revenue ramps in time to offset the burn.

Competitive Edge

Competitive Edge Ideal Power is trying to carve out a niche in power semiconductors with its B-TRAN™ technology. On paper, the technology offers meaningful efficiency gains, inherent bidirectionality, and simpler system design compared with conventional power switches. The company’s broad patent portfolio creates legal protection and raises barriers for direct copycats, and the fabless model lets it remain focused on design and IP rather than heavy manufacturing. On the other hand, it competes in a market dominated by large, well-capitalized players with established customer relationships and product ecosystems. The company’s competitive position will ultimately depend on real-world adoption: design wins, repeat orders, and integration into high-volume products like electric vehicles, power equipment, and grid infrastructure.

Innovation and R&D

Innovation and R&D Innovation is the core of Ideal Power’s story. The B-TRAN™ device is a differentiated approach to power switching, emphasizing lower losses, bidirectional capability in a single device, and better thermal performance, all while using standard silicon. The company has invested heavily in building and defending a sizeable patent estate, which supports a potential moat if the technology gains traction. Recent progress includes higher-power versions of its devices and modules, as well as collaborations with major industrial and automotive players. These partnerships, and any movement from pilot projects to production programs, are critical indicators of whether its R&D is translating into a commercial platform rather than just promising lab results.

Summary

Ideal Power is an early-stage, pre-revenue technology company focused on a single, high-potential innovation in power electronics. Financially, it runs lean with a small, cash-heavy balance sheet, no debt, and recurring operating losses driven by R&D and commercialization efforts. Cash burn is ongoing and must eventually be supported by either new capital or successful product ramp-up. Strategically, the company’s value proposition rests on its B-TRAN™ technology and the associated patent portfolio, which could offer efficiency and design advantages in applications like EVs, solid-state switchgear, and energy storage. However, it operates in a competitive industry dominated by large incumbents, and its future hinges on converting technical promise and partner interest into sustained, scaled revenue. The situation is best understood as a binary, long-duration development story: meaningful upside if commercialization succeeds, and significant risk if adoption is slower or narrower than expected.

NEWS

November 13, 2025 · 9:20 AM UTC

Ideal Power Reports Third Quarter 2025 Financial Results

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November 4, 2025 · 9:20 AM UTC

Ideal Power to Host Third Quarter 2025 Results Conference Call on November 13, 2025 at 10:00 AM Eastern Time

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November 3, 2025 · 9:20 AM UTC

Ideal Power Appoints David Somo as President and Chief Executive Officer

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September 22, 2025 · 9:20 AM UTC

Ideal Power Announces Power Rating Increase for its Discrete B-TRAN® Product

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September 2, 2025 · 4:11 PM UTC

Ideal Power to Present at H.C. Wainwright 27th Annual Global Investment Conference on September 8, 2025

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