Ideal Power Reports First Quarter 2026 Financial Results

Ideal Power (Nasdaq: IPWR) reported first quarter 2026 results and business updates.

Rhea-AI Summary

Ideal Power (Nasdaq: IPWR) reported first quarter 2026 results and business updates. Cash used in operating and investing activities was $2.3 million versus $2.1 million a year earlier. Cash and equivalents were $16.4 million with no long-term debt at March 31, 2026.

Operating expenses rose to $3.7 million from $2.8 million, and net loss increased to $3.6 million from $2.7 million. The company advanced multiple B-TRAN® solid-state circuit breaker projects with its lead Asia customer, Stellantis and new partners, and now holds 103 issued B-TRAN® patents worldwide.

Positive

• Cash and cash equivalents of $16.4 million at March 31, 2026
• No long-term debt outstanding at March 31, 2026
• Cash used in operating and investing activities at $2.3 million for Q1 2026
• Operating collaboration with Stellantis progressing, with deliverables on track for mid-2026 completion
• Two additional projects initiated with lead Asia customer for B-TRAN® SSCB solutions
• B-TRAN® patent estate expanded to 103 issued patents, including 50 outside the U.S.

Negative

• Operating expenses increased to $3.7 million from $2.8 million year over year
• Net loss widened to $3.6 million from $2.7 million in Q1 2025
• Higher stock-based compensation and personnel costs drove increased operating expenses

Argus May 14 session

+37.17% close to close Open Argus

Details

News Market Reaction – IPWR

On May 14, the day this news came out, IPWR closed 37.17% above the previous close.

Data tracked by StockTitan Argus for the May 14 session.

Key Figures

Cash used in ops & investing: $2.3M Cash & equivalents: $16.4M Operating expenses: $3.7M +5 more

Cash used in ops & investing

$2.3M

Q1 2026, vs $2.1M in Q1 2025

Cash & equivalents

$16.4M

Balance at March 31, 2026

Operating expenses

$3.7M

Q1 2026, vs $2.8M in Q1 2025

Net loss

$3.6M

Q1 2026, vs $2.7M in Q1 2025

Long-term debt

None

Outstanding at March 31, 2026

Issued B-TRAN patents

103 patents

Total issued, including 50 outside U.S.

Non-U.S. B-TRAN patents

50 patents

Issued outside the United States

Conference call time

10:00 AM ET

Q1 2026 results call on May 14, 2026

Previous Earnings Reports

5 past events · Latest: Mar 10

Same Type 5 events

1. Mar 10

   Earnings release

   24h Move

   +3.3%

   Q4 and 2025 results plus new agreements, Lazzen deal, and Stellantis engagement.

2. Nov 13

   Earnings release

   24h Move

   -26.8%

   Q3 2025 results with Stellantis order, higher-power B-TRAN® devices, and patent expansion.

3. Aug 14

   Earnings release

   24h Move

   +33.0%

   Q2 2025 results, SSCB design win progress, Stellantis PO approval, and new partnerships.

4. May 15

   Earnings release

   24h Move

   +2.5%

   Q1 2025 results, SSCB prototypes, new Global 500 customer, and expanding sales channels.

5. Feb 27

   Earnings release

   24h Move

   +8.4%

   Q4 and 2024 results, first SSCB design win, and B-TRAN® market opportunity outline.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

bidirectional semiconductor power switch, solid-state circuit breaker, hyperscaler, solid-state transformers, +2 more

6 terms

bidirectional semiconductor power switch technical

"patented B-TRAN® bidirectional semiconductor power switch, reports results for its first quarter"

A bidirectional semiconductor power switch is an electronic component that can safely turn electrical flow on or off in either direction, like a controllable bridge in a road that lets traffic move both ways or stop completely. Investors care because these switches are essential for efficient power conversion, battery protection and motor control in many devices; their performance and cost influence product reliability, energy use and demand in industries from consumer electronics to electric vehicles.

solid-state circuit breaker technical

"lead Asia customer project for low current solid-state circuit breaker ("SSCB") prototype units"

A solid-state circuit breaker is an electronic device that controls and interrupts electrical current using fast-acting semiconductor components instead of moving parts. Like a light switch that can react in microseconds and be precisely controlled, it protects equipment and lines from overloads or faults while lasting longer and needing less maintenance than mechanical breakers. Investors care because the technology can reduce downtime, improve safety, and enable smarter, more efficient power systems—features that can lower operating costs and open new markets for manufacturers and service providers.

hyperscaler technical

"prototype for evaluation by a U.S. hyperscaler supporting the new NVIDIA Rubin Ultra 800V DC AI"

A hyperscaler is a very large provider of cloud computing and data-center services that owns and operates vast amounts of servers, storage and network capacity to host other companies’ applications and data. Think of them as the electric utility for digital services: their scale cuts unit costs, enables rapid growth for customers, and creates high barriers to entry, so investors watch their market share, margins and capital spending closely.

solid-state transformers technical

"development of B-TRAN®-enabled SSCBs for use in solid-state transformers ("SSTs") targeting 800V DC AI data centers"

A solid-state transformer is an electrical device that uses power electronics instead of heavy metal coils to change voltage and steer electricity, acting like a digitally controlled, much lighter version of a traditional transformer. For investors, it matters because these units can boost efficiency, add fast remote control and protection features, and enable modern grid uses — such as electric-vehicle charging and renewable energy integration — which can change infrastructure costs and create new technology markets.

pre-funded warrants financial

"the company raised an estimated $12.6 million in net proceeds through a common stock and pre-funded warrants offering"

Pre-funded warrants are financial instruments that give investors the right to purchase a company's stock at a set price, but with most or all of the purchase price paid upfront. They function like a coupon or gift card for stock, allowing investors to buy shares later at a fixed price, which can be beneficial if they want to avoid future price increases. This makes them important for investors seeking flexibility and certainty in their investment plans.

stock-based compensation financial

"driven primarily by higher stock-based compensation expense and personnel costs"

Stock-based compensation is when a company pays employees, directors or consultants with shares or the right to buy shares instead of or in addition to cash. It matters to investors because issuing stock or options spreads ownership thinner (like cutting a pie into more slices), which can reduce each existing share’s claim on profits and can also change reported earnings; investors watch it to assess true cost of running the business and how management is incentivized.

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AUSTIN, Texas, May 14, 2026 /PRNewswire/ -- Ideal Power Inc. (Nasdaq: IPWR) ("Ideal Power," the "Company," "we," "us" or "our"), developer and provider of its innovative and widely patented B-TRAN® bidirectional semiconductor power switch, reports results for its first quarter ended March 31, 2026.

"We had a strong start to the year as we initiated two additional projects with our lead Asia customer, signed a letter of intent with an industry partner to co-develop a B-TRAN®-enabled prototype for evaluation by a U.S. hyperscaler supporting the new NVIDIA Rubin Ultra 800V DC AI data center power distribution architecture, advanced Stellantis deliverables on schedule, and engaged on new opportunities with several multinational customers," said David Somo, President and Chief Executive Officer of Ideal Power. "The industry's transition toward next generation, high-voltage DC power architectures is real and in its early stages, creating what we believe will be a significant demand for advanced solid-state power solutions, and B-TRAN® is uniquely positioned to address these emerging opportunities. Our focus remains on converting our expanding sales funnel into production orders, revenue growth and long-term shareholder value creation."

Key First Quarter and Recent Highlights

Execution of our B-TRAN® commercial strategy continues, including:

• Advanced our lead Asia customer project for low current solid-state circuit breaker ("SSCB") prototype units expected to be available for 800V AI data center and energy grid customers in Q4 2026. In addition, initiated two new projects with this customer: one project for a medium current SSCB designed for 800V AI DC data centers and energy storage applications, and the second project for a low current SSCB in smart industrial buildings.
• Delivered initial next generation B-TRAN® custom-packaged samples and development kits for evaluation to Stellantis for EV applications. We are on track to complete the deliverables under our existing purchase order by mid-2026.
• Signed a letter of intent with an industry partner to co-develop a B-TRAN®-enabled intelligent SSCB prototype 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.
• Engaged two new Asia-based global suppliers of power solutions for the potential development of B-TRAN®-enabled SSCBs for use in solid-state transformers ("SSTs") targeting 800V DC AI data centers, energy storage systems, EV charging, and energy grid.
• Engaged several multinational customers for the potential development of B-TRAN®-based SSCBs across 800V AI data centers, industrial building applications, and the renewable energy grid.
• B-TRAN® Patent Estate: Currently at 103 issued B-TRAN® patents with 50 of those issued outside of the United States. Current geographic coverage includes North America, China, Taiwan, Japan, South Korea, India, and Europe.

First Quarter 2026 Financial Results

• Cash used in operating and investing activities in the first quarter of 2026 was $2.3 million compared to $2.1 million in the first quarter of 2025.
• Cash and cash equivalents totaled $16.4 million at March 31, 2026.
• No long-term debt was outstanding at March 31, 2026.
• Operating expenses in the first quarter of 2026 were $3.7 million compared to $2.8 million in the first quarter of 2025 driven primarily by higher stock-based compensation expense and personnel costs. Stock-based compensation expense increased in the first quarter of 2026 due to equity award modifications under the transition services agreement with our former CEO and inducement grants to our incoming CEO in the fourth quarter of 2025.
• Net loss in the first quarter of 2026 was $3.6 million compared to $2.7 million in the first quarter 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 solid-state circuit breaker 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: First Quarter 2026

The Company will hold a conference call on Thursday, May 14, 2026 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 526807. 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 May 28, 2026 by dialing 877-481-4010 using passcode 53961.

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.

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, the letter of intent with an industry partner to co-develop a B-TRAN®-enabled SSCB prototype for a leading U.S. hyperscaler, B-TRAN® being uniquely positioned to address emerging opportunities in high-voltage DC power architectures, the potential development of B-TRAN®-enabled SSCBs and/or SSTs for use in various applications, the anticipated timing of deliverables under the purchase order from Stellantis, and our expected success in converting our expanding sales funnel into production orders, revenue growth and long-term shareholder value creation. 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)
		March 31, 2026		December 31, 2025
ASSETS
Current assets:
Cash and cash equivalents	$	16,410,749	$	6,129,049
Accounts receivable, net		24,000		24,000
Inventory		41,625		9,700
Prepayments and other current assets		323,776		377,901
Total current assets		16,800,150		6,540,650
Property and equipment, net		480,919		376,717
Intangible assets, net		2,742,940		2,687,466
Right of use asset		374,741		397,397
Other assets		58,952		44,459
Total assets	$	20,457,702	$	10,046,689
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable	$	757,554	$	408,398
Accrued expenses		643,421		471,329
Current portion of lease liability		96,284		93,435
Total current liabilities		1,497,259		973,162
Long-term lease liability		284,844		309,900
Other long-term liabilities		868,049		886,538
Total liabilities		2,650,152		2,169,600
Stockholders' equity:
Common stock		12,114		8,539
Additional paid-in capital		139,485,834		125,927,443
Treasury stock		(13,210)		(13,210)
Accumulated deficit		(121,677,188)		(118,045,683)
Total stockholders' equity		17,807,550		7,877,089
Total liabilities and stockholders' equity	$	20,457,702	$	10,046,689

 

IDEAL POWER INC.
Statements of Operations
(unaudited)
		Quarter Ended March 31,
		2026		2025
Commercial revenue	$	-	$	12,003
Cost of commercial revenue		-		30,862
Gross profit (loss)		-		(18,859)
Operating expenses:
Research and development		2,032,313		1,567,992
General and administrative		1,220,011		899,821
Sales and marketing		439,698		338,160
Total operating expenses		3,692,022		2,805,973
Loss from operations		(3,692,022)		(2,824,832)
Interest income, net		60,517		121,808
Net loss	$	(3,631,505)	$	(2,703,024)
Net loss per share – basic and fully diluted	$	(0.33)	$	(0.30)
Weighted average number of shares outstanding – basic and fully diluted		11,158,550		9,101,851

 

IDEAL POWER INC.
Statements of Cash Flows
(unaudited)
		Quarter Ended March 31,
		2026		2025
Cash flows from operating activities:
Net Loss	$	(3,631,505)		(2,703,024)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		94,211		90,476
Amortization of right of use asset		22,656		20,876
Write-off of property and equipment		79		1,201
Stock-based compensation		991,440		384,595
Decrease (increase) in operating assets:
Accounts receivable		-		(7,843)
Inventory		(31,925)		7,069
Prepaid expenses and other current assets		39,632		44,405
Increase (decrease) in operating liabilities:
Accounts payable		349,156		51,590
Accrued expenses and other liabilities		153,603		63,499
Lease liability		(22,207)		(19,618)
Net cash used in operating activities		(2,034,860)		(2,066,774)
Cash flows from investing activities:
Purchase of property and equipment		(142,092)		(11,324)
Acquisition of intangible assets		(111,874)		(58,554)
Net cash used in investing activities		(253,966)		(69,878)
Cash flows from financing activities:
Net proceeds from issuance of common stock and pre-funded warrants		12,574,677		-
Payment of taxes related to restricted stock unit vesting		(4,151)		(9,346)
Net cash provided by (used in) financing activities		12,570,526		(9,346)
Net Increase (decrease) in cash and cash equivalents		10,281,700		(2,145,998)
Cash and cash equivalents at beginning of period		6,129,049		15,842,850
Cash and cash equivalents at end of the period	$	16,410,749	$	13,696,852

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/ideal-power-reports-first-quarter-2026-financial-results-302771691.html

SOURCE IDEAL POWER INC.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How did Ideal Power (NASDAQ: IPWR) perform financially in Q1 2026?

Ideal Power reported a larger net loss and higher expenses in Q1 2026. According to Ideal Power, net loss was $3.6 million versus $2.7 million a year earlier, while operating expenses rose to $3.7 million from $2.8 million.

What was Ideal Power (IPWR) cash position and debt level on March 31, 2026?

Ideal Power ended Q1 2026 with a solid cash balance and no long-term debt. According to Ideal Power, cash and cash equivalents totaled $16.4 million, and the company reported no long-term debt outstanding at March 31, 2026.

What business milestones did Ideal Power (IPWR) achieve in its B-TRAN projects in early 2026?

Ideal Power advanced several B-TRAN projects and new engagements in Q1 2026. According to Ideal Power, it initiated two new projects with its lead Asia customer, delivered custom B-TRAN samples to Stellantis, and signed an LOI to co-develop an intelligent SSCB prototype.

How many B-TRAN patents does Ideal Power (NASDAQ: IPWR) hold as of Q1 2026?

Ideal Power reported a broad B-TRAN patent portfolio as of Q1 2026. According to Ideal Power, the company holds 103 issued B-TRAN patents, including 50 patents issued outside the United States across major global regions.

What are Ideal Power (IPWR) strategic priorities following its Q1 2026 results?

Ideal Power outlined several strategic priorities focused on commercialization and growth. According to Ideal Power, goals include expanding the sales funnel, converting opportunities to design-ins and custom agreements, securing production orders with its lead Asia customer, and completing remaining Stellantis purchase order deliverables.

When is the Ideal Power (IPWR) Q1 2026 earnings conference call and how can investors join?

Ideal Power scheduled its Q1 2026 earnings call for May 14, 2026 at 10:00 AM Eastern Time. According to Ideal Power, investors can dial 888-506-0062 (U.S./Canada) or 973-528-0011 (international) using passcode 526807, or access a live webcast on its investor relations website.