Ideal Power(US:IPWR)2025-11-13 16:00Financial Data and Key Metrics Changes - The third quarter 2025 cash burn from operating and investing activities was $2.7 million, an increase from $2.4 million in Q3 2024 and $2.5 million in Q2 2025 [18] - Operating expenses were $3 million in Q3 2025 compared to $2.9 million in Q3 2024, attributed to higher wafer fabrication costs [19] - Net loss in Q3 2025 was $2.9 million, compared to $2.7 million in Q3 2024 [21] Business Line Data and Key Metrics Changes - A purchase order was secured from Stellantis for custom development and packaged B-TRAN devices targeting multiple electric vehicle applications [9] - The power rating of the discrete B-TRAN product was increased by 50%, leading to greater interest from customers [11][15] - The first DesignWin customer is expected to generate several hundred thousand dollars in revenue in its first year, potentially exceeding $1 million in the second year [14] Market Data and Key Metrics Changes - The company is engaged in discussions with a sixth global automaker evaluating B-TRAN for next-generation high-voltage EV applications [10] - Interest in B-TRAN is growing across Asia, which is the largest market for power electronics [12] - Third-party automotive qualification testing of B-TRAN devices is underway, with positive early test results [12] Company Strategy and Development Direction - The company aims to commercialize its B-TRAN technology in high-growth power applications across data centers, industrial, and automotive markets [4] - The strategy includes leveraging extensive commercial experience to drive revenue growth in target markets [5] - The company is focused on executing with rigor and discipline to establish credibility and maintain investor confidence [7] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's position to drive long-term value creation and highlighted the importance of understanding customer needs [8] - The CEO emphasized the trend towards higher power architectures in EVs and the need for improved power efficiency and density [25][31] - The company anticipates a continued trend towards higher power levels across multiple applications, which aligns with B-TRAN technology advantages [31] Other Important Information - The company has 97 issued B-TRAN patents, with 73 pending, and is focused on safeguarding its intellectual property [17] - Cash and cash equivalents totaled $8.4 million at September 30, 2025, with no debt [18] - The company expects fourth quarter 2025 cash burn to be approximately $2.5-$2.7 million, with a full year 2025 cash burn of approximately $10 million [18] Q&A Session Summary Question: What is driving the automakers to look for better solutions? - The shift to higher power architectures, particularly the adoption of 800-volt battery systems, is driving automakers to evaluate new technologies for improved power efficiency and density [25] Question: Is the product currently available for sale? - The product is not currently for sale; the customer is finalizing their product design [28] Question: How do you see the markets evolving? - The markets are expected to trend towards higher power applications, with a focus on improved power efficiency and density [30][31] Question: What is Ideal Power doing to expand the sales pipeline? - The company has added direct sales in Asia and is conducting meetings with current and prospective customers [33] Question: How does B-TRAN compare to competitors? - B-TRAN has advantages of ultra-low conduction losses and bidirectionality, translating to more efficient and compact products at lower costs compared to silicon and silicon carbide solutions [34]