EX-99.1 2 ex_853035.htm EXHIBIT 99.1 ex_853035.htm

Exhibit 99.1

 

Ideal Power Reports Second Quarter 2025 Financial Results

 

AUSTIN, TX – August 14, 2025 -- Ideal Power Inc. (Nasdaq: IPWR) (“Ideal Power,” the “Company,” “we,” “us” or “our”), developer and innovative provider of the highly efficient and broadly patented B-TRAN® bidirectional semiconductor power switch, reports results for its second quarter ended June 30, 2025.

 

“Our first design win customer is nearing completion of their B-TRAN®-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®-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® devices targeting multiple electric vehicle applications. This strategic win will enable multiple uses of B-TRAN® 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 B-TRAN® 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®-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® 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®-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 and U.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® Patent Estate: Currently at 96 issued B-TRAN® patents with 47 of those issued outside of the United States and 74 pending B-TRAN® patents. Current geographic coverage includes North America, China, Taiwan, Japan, South Korea, India, and Europe.

 

Second Quarter 2025 Financial Results

 

 

Cash used in operating and investing activities in the second quarter of 2025 was $2.5 million compared to $2.2 million in the second quarter of 2024.

 

 

Cash used in operating and investing activities in the first half of 2025 was $4.6 million compared to $4.2 million in the first half of 2024.

 

 

Cash and cash equivalents totaled $11.1 million at June 30, 2025.

 

 

No long-term debt was outstanding at June 30, 2025.

 

 

Operating expenses in the second quarter of 2025 were $3.1 million compared to $2.9 million in the second quarter of 2024 driven primarily by higher research and development spending.

 

 

Net loss in the second quarter of 2025 was $3.0 million compared to $2.7 million in the second quarter of 2024.

 

2025 Milestones

 

For 2025, the Company has set the following milestones:

 

 

Secure next phase of development program with Stellantis

 

 

Completed deliverables in 1H 2025 related to first design win

 

 

 

 

Capture additional design wins / custom development agreements

 

 

Start initial sales ramp in second half of year

 

 

Increase power rating of products

 

 

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 (U.S./Canada callers) or 973-528-0011 (international callers), using passcode 422159. It is recommended that participants call or log in 10 minutes ahead of the scheduled start time to ensure proper connection. An operator will register your name and organization. An audio replay will be available one hour after the live call until Midnight on August 28, 2025 by dialing 877-481-4010 using passcode 52771.

 

The live webcast and interactive Q&A will be accessible on the Company's Q2 conference call webcast portal HERE. 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 New York on September 8, 2025

 

Ideal Power plans to participate at the H.C. Wainwright in New York on September 8, 2025. Conference attendees are encouraged to register and request a one-on-one meeting HERE with Ideal Power on September 8 or contact your H.C. Wainwright representative.

 

The live, interactive webcast and slide presentation will be accessible on the Company's Investor Relations website under the Events tab HERE. 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®) semiconductor technology. B-TRAN® is a unique double-sided bidirectional AC switch that delivers substantial performance improvements over today’s conventional power semiconductors. Ideal Power’s B-TRAN® 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 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 the pending status of our order from Stellantis for custom development enabling multiple uses of B-TRAN® across Stellantis’ EV platforms, our expectation that the OEM from our first design win will launch its first B-TRAN®-enabled product this year and expand its offering in the future to include a suite of B-TRAN®-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® 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

 

 

 

IDEAL POWER INC.

Balance Sheets

(unaudited)

 

 

   

June 30,
2025

   

December 31,
2024

 

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

    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

    (13,210 )     (13,210 )

Accumulated deficit

    (113,207,052 )     (107,467,263 )

Total stockholders’ equity

    12,738,341       17,855,164  

Total liabilities and stockholders’ equity

  $ 14,948,016     $ 19,826,684  

 

 

 

IDEAL POWER INC.

Statements of Operations

(unaudited)

 

 

   

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 – basic and fully diluted

  $ (0.33 )   $ (0.31 )   $ (0.63 )   $ (0.69 )
                                 

Weighted average number of shares outstanding – basic and fully diluted

    9,116,519       8,514,581       9,109,225       7,417,260  

 

 

 

IDEAL POWER INC.

Statements of Cash Flows

(unaudited)

 

 

   

Six Months Ended June 30,

 
   

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