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Ideal Power (IPWR) investor relations material

Ideal Power Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary13 Nov, 2025

Executive summary

  • New CEO David Somo, with 30+ years in semiconductors, appointed in November 2025 to accelerate commercialization and revenue growth, focusing on high-growth markets like data centers, industrial, and automotive.

  • B-TRAN technology targets multi-billion dollar addressable markets, offering ultra-low conduction losses, improved power efficiency, and bidirectionality.

  • Achieved key milestones including a design win with a major Asian manufacturer, successful prototype testing for solid-state circuit breakers, and a purchase order from Stellantis for EV applications.

  • Company is building on a strong foundation, emphasizing execution, credibility, and customer engagement.

  • Three B-TRAN products launched, with initial revenues from prototype and development agreements.

Financial highlights

  • Q3 2025 cash burn from operating and investing activities was $2.7M, up from $2.4M in Q3 2024 and $2.5M in Q2 2025; nine-month 2025 cash burn was $7.4M.

  • Cash and cash equivalents totaled $8.4M at September 30, 2025; no debt and a clean capital structure.

  • Q3 2025 revenue was $24,450, up from $554 in Q3 2024; nine-month 2025 revenue was $37,728, down from $80,624 year-over-year.

  • Operating expenses for Q3 2025 were $3.02M, up from $2.9M in Q3 2024, mainly due to higher wafer fabrication and R&D costs.

  • Net loss for Q3 2025 was $2.94M (vs. $2.7M in Q3 2024); nine-month 2025 net loss was $8.68M, 11% higher than prior year.

Outlook and guidance

  • Q4 2025 cash burn expected at $2.5M–$2.7M; full-year 2025 cash burn forecasted at ~$10M, up from $9.2M in 2024, driven by increased fabrication and hiring.

  • Sufficient liquidity to fund operations through at least mid-2026, but substantial doubt exists about ability to continue as a going concern without additional capital.

  • Expectation of higher volume orders and significant revenue growth upon securing additional design wins; improved gross margins anticipated as production scales.

  • CEO plans to provide a detailed commercialization outlook after further business review.

  • Remaining deliverables under the Stellantis purchase order expected to be completed in 2026.

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Frequently asked questions

Ideal Power Inc. is a technology company specializing in innovative power conversion technologies. The company focuses on the development of its patented Bidirectional Bipolar Junction Transistor (B-TRAN) technology, designed to improve the efficiency, size, and cost of power switches used in energy storage, renewable energy, electric vehicles, and industrial applications. The company is headquartered in Austin, Texas, and its shares are listed on the NASDAQ.

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