Core Insights - Ideal Power Inc is advancing towards commercialization of its B-TRAN-enabled products through strategic partnerships and agreements [1][2] - The company has established a multi-year cooperation with Lazzen for circuit protection products, with the first B-TRAN-enabled breaker targeting AI data center customers [1] - A letter of intent has been signed with an Asian power module manufacturer for global production and distribution of B-TRAN-based power modules [1] - Engagements with Stellantis for potential EV contactor programs are progressing, with key deliverables expected by mid-2026 [1] Financial Position - Ideal Power has a growing patent portfolio with 100 issued B-TRAN patents globally and a clean capital structure with no long-term debt [2] - The company raised $12.6 million in capital earlier this year, positioning it well to fund growth initiatives [2] Leadership and Strategy - The CEO has focused on understanding the business state and setting strategic priorities during the first quarter [3] - Direct customer engagement has been emphasized to validate the technology and understand customer perspectives on B-TRAN [4][5] Product Development and Market Entry - The company is supporting lead customers in developing B-TRAN-based products and guiding them through the qualification process [6] - Initial sales orders are expected by the fourth quarter of this year, with a ramp-up planned for 2027 [7] Market Opportunities - Key growth drivers for B-TRAN adoption include solid-state circuit breakers in data centers and battery energy storage systems, with static transfer switches also identified as a potential application [8] Operational Readiness - The company has two foundry partners to ensure robust supply capabilities and is exploring further expansion [10] - A new Chief Operating Officer with extensive semiconductor industry experience has been appointed to enhance operational capabilities [11] Capital Allocation - The recent capital raise will support the expansion of the sales organization, including hiring technical sales resources in Asia and a European sales leader [12]

Core Insights - The company is advancing its B-TRAN technology, focusing on partnerships with Stellantis and Lazen to develop customized solutions for electric vehicles (EVs) and other applications [1][3][4] - A strategic cooperation agreement with Lazen aims to design and sell B-TRAN enabled circuit protection products, including solid-state circuit breakers and battery disconnect units [2][3] - The company has a growing patent portfolio with 100 issued patents and 78 pending, covering key markets globally [4][5] Partnership Developments - The relationship with Stellantis includes a purchase order for custom B-TRAN devices, with the first of five deliverables completed in 2025 and the remaining expected by mid-2026 [1][24] - A letter of intent has been signed with a leading Asian power module manufacturer to develop B-TRAN based power modules [2] Financial Overview - The company raised $12.6 million in net proceeds from a public offering, strengthening its balance sheet with no debt [10][11] - Cash burn for Q4 2025 was $2.2 million, lower than previous years, with a full-year cash burn of $9.6 million [11][12] - Cash and cash equivalents totaled $6.1 million as of December 31, 2025, excluding the recent capital raise [12] Sales and Market Strategy - The company identified nearly $200 million in potential sales opportunities and aims to expand its sales funnel through new hires and distributor engagement [5][30] - Initial revenue is expected from solid-state circuit breakers and static transfer switches, particularly in data centers and renewable energy applications [28][29] Product Development and Innovation - The B-TRAN product line is ready for initial applications, with ongoing customer collaboration for product development and qualification [25][26] - The company is focused on optimizing reference design kits to assist customers in accelerating their product development [32] Strategic Priorities - The company plans to secure production orders with Lazen and continue advancing opportunities with Stellantis and other automakers [7] - There is an emphasis on exploring strategic investments with global market leaders to support technology commercialization [8]

Core Insights - Ideal Power Inc. (IPWR) has set a cash burn target of $10.5 million for 2026 while focusing on accelerating the commercialization of its B-TRAN technology [2] Management View - CEO David Somo emphasized a multiyear strategic cooperation agreement with Lazzen aimed at designing, developing, and globally selling B-TRAN-enabled circuit protection products [2] - The target markets for these products include AI data centers, intelligent grids, renewable energy, energy storage, and electric vehicle (EV) charging [2]

Financial Data and Key Metrics Changes - The company raised $12.6 million in estimated net proceeds from a public offering and concurrent private placement that closed on February 25, 2025, strengthening its balance sheet [11] - Fourth quarter 2025 cash burn was $2.2 million, down from $2.6 million in the fourth quarter of 2024, and below guidance of $2.5 million-$2.7 million [12] - Full year 2025 cash burn was $9.6 million, slightly higher than $9.2 million in 2024, but below the guidance of approximately $10 million [12][16] - Cash and cash equivalents totaled $6.1 million at December 31, 2025, excluding the recent capital raise proceeds [14] - Net loss in the fourth quarter of 2025 was $1.9 million compared to $2.6 million in the fourth quarter of 2024 [16] Business Line Data and Key Metrics Changes - The company did not record revenue in the fourth quarter of 2025, with initial orders expected to be small as customers progress through their design cycles [14][15] - Operating expenses were $1.9 million in the fourth quarter of 2025, down from $2.8 million in the fourth quarter of 2024, primarily due to lower stock-based compensation [15] Market Data and Key Metrics Changes - The company identified nearly $200 million in potential sales opportunities globally, with plans to expand the sales funnel through new engagements and opportunities [8] - The company is focused on markets such as data centers, battery energy storage systems, and grid applications for the commercialization of B-TRAN products [47] Company Strategy and Development Direction - The company announced a multi-year strategic cooperation agreement with Lasin for the design, development, and worldwide sales of B-TRAN enabled circuit protection products [3][4] - Strategic priorities include securing production orders, completing deliverables under existing purchase orders, and exploring strategic investment opportunities with global market leaders [9][10] - The company aims to expand its sales resources and distributor network to accelerate B-TRAN commercialization [63] Management's Comments on Operating Environment and Future Outlook - Management emphasized the importance of disciplined execution of their strategy to accelerate commercialization and deliver value to shareholders [3] - The company expects to see increased cash burn in the first quarter of 2026 due to planned hiring, including expanding the direct sales team [13] - Management remains optimistic about the potential for B-TRAN products in various applications, including EVs and data centers [47][61] Other Important Information - The company has 100 issued B-TRAN patents, with 48 issued outside the United States, and a list of pending B-TRAN patents now at 78 [6][7] - The company treats its double-sided wafer process flow as a trade secret to safeguard its intellectual property [7] Q&A Session Summary Question: What is the expected range for SG&A in 2026? - SG&A is expected to remain relatively flat, with potential low single-digit increases [20][23] Question: Will Lasin's use of the product be for new builds or retrofits? - Lasin is developing solid-state circuit breakers for various applications, with opportunities for both new builds and retrofits [24][25] Question: What are the milestones with Stellantis? - There are four remaining deliverables under the Stellantis purchase order, all of which are within the company's control [35] Question: What product development work is still required? - Current B-TRAN products meet target applications, and the focus is on customer-specific product development [42][43] Question: What are the main hurdles to cross sizable orders? - The main hurdle is completing product development and qualifications with customers [44] Question: Are there opportunities for NRE revenue in 2026? - Yes, there are opportunities for custom development that could generate NRE revenue [46] Question: What solutions will drive the earliest revenue? - Solid-state circuit breakers and static transfer switches are expected to drive the earliest revenue [47] Question: How will the company expand the sales funnel? - The company is investing in sales resources and leveraging its distributor network to accelerate sales [48][51] Question: Will Lasin manufacture the product? - Lasin is expected to be on a purchase order relationship, with potential for longer-term supply agreements [54] Question: What is the status of automotive qualification testing? - The company expects to complete automotive reliability testing by summer [57] Question: How will Stellantis sharing technology with Leapmotor affect the relationship? - It could be a positive for Ideal Power, opening up a larger market opportunity [61] Question: Will B-TRAN be used across multiple vehicle models? - The expectation is that successful adoption will lead to use across multiple models [62] Question: What milestones will be achieved with the recent capital raise? - The capital raise will support the expansion and acceleration of B-TRAN commercialization and sales initiatives [63]

Financial Data and Key Metrics Changes - The company raised $12.6 million in estimated net proceeds from a public offering and private placement that closed on February 25, 2026, strengthening its balance sheet [11] - Fourth quarter 2025 cash burn was $2.2 million, down from $2.6 million in Q4 2024 and $2.7 million in Q3 2025, which was below guidance of $2.5-$2.7 million [12] - Full year 2025 cash burn was $9.6 million, slightly higher than $9.2 million in 2024, and below the guidance of approximately $10 million [12] - Cash and cash equivalents totaled $6.1 million at December 31, 2025, excluding the recent capital raise proceeds [13] - Net loss in Q4 2025 was $1.9 million compared to $2.6 million in Q4 2024, while the full year net loss was $10.6 million compared to $10.4 million in 2024 [16] Business Line Data and Key Metrics Changes - The company has identified nearly $200 million in potential sales opportunities, focusing on expanding the sales funnel with new engagements [8] - Initial orders from companies evaluating products are expected to be small, with order sizes increasing as customers progress through their design cycles [14] Market Data and Key Metrics Changes - The company is advancing its relationship with Stellantis, completing the first of five deliverables under a purchase order for custom development of B-TRAN devices for EV applications [5] - The first B-TRAN enabled solid-state circuit breaker is expected to target AI data center customers, with potential applications in renewable energy and EV charging infrastructure [4] Company Strategy and Development Direction - The company aims to accelerate commercialization and deliver increased value to shareholders and customers through disciplined execution of its strategic plan [3] - Strategic priorities include expanding the sales funnel, securing production orders, and exploring strategic investment opportunities with global market leaders [9][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strategic cooperation with Lasin and the potential for B-TRAN technology to address market shifts, particularly in data centers and EV applications [9] - The company expects to complete automotive reliability testing by summer 2026, indicating progress in its automotive qualification efforts [55] Other Important Information - The company has 100 issued B-TRAN patents, with 48 issued outside the United States, and a pending list of 78 patents [6] - The company is focused on maintaining a clean capital structure with no debt post-offering [12] Q&A Session Summary Question: What is the expected range for SG&A in 2026? - SG&A is expected to remain relatively flat, with potential low single-digit percentage increases [19][22] Question: Will Lasin's use of the product be for new builds or retrofits? - Lasin is developing solid-state circuit breakers for both new builds and potential retrofits in existing applications [24] Question: What are the milestones with Stellantis? - There are four remaining deliverables under the Stellantis purchase order, all of which are within the company's control [34] Question: What product development work is still required? - Current B-TRAN products meet target applications, with ongoing work focused on customer-specific product development [41] Question: Are there opportunities for NRE revenue in 2026? - Yes, there are opportunities for custom development that could generate NRE revenue [45] Question: What solutions will drive the earliest revenue? - Solid-state circuit breakers and static transfer switches are expected to drive the earliest revenue [46] Question: How will the company expand the sales funnel? - The company is investing in sales resources and leveraging its distributor network to accelerate B-TRAN commercialization [47] Question: Will Lasin manufacture the product? - Lasin is expected to be on a purchase order relationship, with potential for licensing agreements in the future [52] Question: What are the thoughts on Stellantis sharing EV technology with Leapmotor? - This could be a positive for Ideal Power, potentially opening up a larger market opportunity [58] Question: How will B-TRAN be utilized across multiple vehicle models? - The expectation is that successful adoption of B-TRAN will span multiple models within automotive companies [59] Question: What milestones will be achieved with the recent capital raise? - The capital raise will support the expansion and acceleration of B-TRAN commercialization and sales initiatives [60]

Financial Performance - Ideal Power reported a net loss of $1.9 million in Q4 2025, a decrease from a net loss of $2.6 million in Q4 2024, and a full-year net loss of $10.6 million compared to $10.4 million in 2024[6][18]. - Revenue for the full year 2025 was $37,728, a significant decrease from $86,032 in 2024, with no revenue reported in Q4 2025 compared to $5,408 in Q4 2024[6][18]. - Net loss for the year ended December 31, 2025, was $10,578,420, compared to a net loss of $10,417,813 in 2024[20]. - Net cash used in operating activities increased to $9,135,479 in 2025 from $8,742,580 in 2024[20]. - Total depreciation and amortization expenses increased to $371,419 in 2025 from $341,045 in 2024[20]. - Stock-based compensation decreased to $729,173 in 2025 from $1,596,254 in 2024[20]. Cash Position - Cash and cash equivalents totaled $6.1 million as of December 31, 2025, down from $15.8 million at the end of 2024[6][16]. - Cash and cash equivalents at the end of 2025 were $6,129,049, down from $15,842,850 at the end of 2024[20]. - Cash used in operating and investing activities in Q4 2025 was $2.2 million, down from $2.6 million in Q4 2024[6]. - Net cash used in investing activities was $449,494 in 2025, slightly improved from $506,428 in 2024[20]. - Net cash provided by financing activities was negative $128,828 in 2025, a significant decrease from $16,617,023 in 2024[20]. Operating Expenses - Operating expenses in Q4 2025 were $1.9 million, a reduction from $2.8 million in Q4 2024, primarily due to lower stock-based compensation and personnel costs[6][18]. - Accounts payable increased significantly by $304,281 in 2025, compared to a decrease of $300,981 in 2024[20]. - The company wrote off $35,987 in inventory in 2025, with no write-offs reported in 2024[20]. - Cash flows from operating activities were negatively impacted by a decrease in accounts receivable of $23,308 in 2025, contrasting with an increase of $69,308 in 2024[20]. Strategic Initiatives - The company raised $12.6 million in estimated net proceeds from a public offering and private placement completed on February 25, 2026[6][6]. - Ideal Power has 100 issued B-TRAN® patents, with 48 issued outside the United States and 78 pending[4]. - The company has engaged with Stellantis for a potential development program for EV contactors, with deliverables expected to be completed by mid-2026[3]. - Ideal Power aims to secure production orders with Lazzen for its first solid-state circuit breaker products and expand into additional markets[6][12]. - The company continues to explore strategic investment opportunities with global market leaders[12].

Company Overview - Proactive is a financial news publisher that provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The company has a team of experienced news journalists who produce independent content across various financial markets [2] Market Focus - Proactive specializes in medium and small-cap markets while also covering blue-chip companies, commodities, and broader investment stories [3] - The news team delivers insights across various sectors including biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [3] Technology Adoption - Proactive is recognized for its forward-looking approach and enthusiastic adoption of technology to enhance workflows [4] - The company utilizes automation and software tools, including generative AI, while ensuring that all content is edited and authored by humans [5]

Core Viewpoint - Ideal Power Inc. reported its financial results for the fourth quarter and full year of 2025, highlighting progress in commercializing its B-TRAN® technology and establishing new customer agreements in various sectors, including electric vehicles and renewable energy [1]. Financial Highlights - The net loss for Q4 2025 was $1.9 million, an improvement from a net loss of $2.6 million in Q4 2024 [1]. - The total net loss for the full year 2025 was $10.6 million, slightly higher than the $10.4 million loss in 2024 [1]. - Operating expenses for 2025 were $10.9 million, down from $11.1 million in 2024, primarily due to lower stock-based compensation [1]. - Cash and cash equivalents stood at $6.1 million as of December 31, 2025, compared to $15.8 million at the end of 2024 [2]. Strategic Developments - The company has signed two new customer agreements for B-TRAN® solutions targeting applications in solid-state circuit protection, renewable energy, and electric vehicles [1]. - A Letter of Intent was signed with a power module manufacturer in Asia to produce B-TRAN®-based power modules [1]. - A multi-year strategic cooperation agreement was established with Lazzen for the design and sales of B-TRAN®-enabled circuit protection solutions [1]. Operational Updates - The B-TRAN® patent estate includes 100 issued patents, with 48 issued outside the U.S. and 78 pending [1]. - Engagement with Stellantis is ongoing for the development of EV contactors, with expected deliverables to be completed by mid-2026 [1]. - The company aims to drive initial revenue growth by converting sales opportunities into design-ins and custom development agreements [1].

Core Viewpoint - Ideal Power Inc. will hold a conference call on March 10, 2026, to discuss its fourth quarter and full year results for 2025, highlighting its innovative B-TRAN® technology and its applications in various sectors [1]. Company Overview - Ideal Power Inc. is a developer and provider of the B-TRAN® bidirectional semiconductor power switch, which is widely patented and offers significant advantages over conventional technologies [1]. - The B-TRAN® technology features very low conduction losses, improving power efficiency and reducing energy consumption, which leads to cost savings [1]. - The unique bidirectional capability of B-TRAN® simplifies the design, control, and diagnostics of solid-state power solutions, enabling smaller and lower-cost systems [1]. Applications - B-TRAN® is applicable in a broad spectrum of areas, including solid-state circuit breakers, static transfer switches, battery disconnect units, and EV contactors [1]. - These applications are widely used in data centers, industrial power systems, energy grid and storage systems, as well as electric vehicles and charging infrastructure [1]. Conference Call Details - The conference call will take place at 10:00 AM Eastern Time, with a press release detailing the results to be issued prior to the call [1]. - Analysts and investors will have the opportunity to ask questions during the live call, and questions can also be submitted in advance [1]. - Access to the live call will be available via specific phone numbers for U.S./Canada and international callers, with a recommended login time of 10 minutes before the start [1].

PresentationJeff Christensen Hello, ladies and gentlemen, and welcome to the Ideal Power Business Update Conference Call. [Operator Instructions] As a reminder, this event is being recorded. Before we begin, I'd like to remind everyone that statements made on the call and webcast, including those regarding future financial results and company prospects are forward-looking and may be subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in th ...