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Ideal Power Reports Strong Financial Position and Future Opportunities

On February 27, 2025, Ideal Power Inc. (Nasdaq: IPWR) released its financial results for the fourth quarter and the full year of 2024, highlighting significant milestones and opportunities for growth. The company, recognized for its innovative B-TRAN® semiconductor technology, expressed optimism about its future as it prepares to ramp up revenues in the coming years.

Key Achievements in 2024

Ideal Power is proud to announce the establishment of its first design win in the solid-state circuit breaker (SSCB) segment, which is a pivotal moment for the company. This success signifies validation of the B-TRAN® technology as an integral component in SSCBs and sets the stage for anticipated revenue generation starting in late 2025. Dan Brdar, President and CEO, stated that the expected revenues from this first B-TRAN®-based product could easily reach several hundred thousand dollars in its initial year, with projections exceeding a million dollars by the second year.

Moreover, the company is utilizing its initial success to foster additional design wins with other prominent SSCB manufacturers, representing a substantial market opportunity exceeding $1 billion. In the fourth quarter, Ideal Power also secured a multi-unit order for its SymCool® IQ intelligent power module, tailored to meet the needs of the growing energy and power sector, including renewable energy and EV charging applications.

Operational Highlights

Several operational accomplishments were achieved in 2024:

• - Market Engagement: The company secured a design win for SSCBs with one of Asia's largest manufacturers, ensuring projects are ahead of schedule, which is expected to lead to commercial sales within the year.
• - Partnerships: Collaboration with Stellantis for its new electric vehicle platform resulted in a thorough program review. Ideal Power anticipates progressing in their drivetrain inverter program and introducing new EV contactor applications.
• - Automotive Focus: Orders from a major global automotive supplier for B-TRAN® devices and SymCool® modules mark an expansion into the solid-state EV contactor market.
• - Patent Portfolio: The company boasts a strong patent estate with 94 issued patents for B-TRAN®, and continuous geographical expansion solidifying its market position across North America, Asia, and Europe.

Financial Overview

Despite net losses in both the fourth quarter and the entire year 2024, Ideal Power has shown significant growth in its assets and cash availability. The company reported:

• - A cash balance of $15.8 million at year-end, a significant increase from 2023.
• - Operating expenses reached $2.8 million in Q4, partly driven by increased R&D expenditure.
• - Reported revenues of $5,408 in Q4 2024 and $86,032 for the entire year reflect a challenging market environment as the company transitions to high-revenue products.

Future Roadmap for 2025

Looking ahead, Ideal Power has ambitious milestones set for 2025:

• - Advance with Stellantis in the development phase of its ongoing project.
• - Finalize deliverables tied to the first design win.
• - Explore new design wins and custom development agreements.
• - Inaugurate the sales ramp in the latter half of 2025 and enhance product ratings.
• - Complete third-party automotive qualification testing of B-TRAN® devices, crucial for further market penetration.

Conclusion

As Ideal Power enters 2025, it aims to leverage its innovative technologies and strategic partnerships to pave the way for long-term growth and shareholder value. The company’s focus on developing high-efficiency electrical solutions positions it at the forefront of energy control technology, essential for a sustainable future.

For further details, stakeholders can join the conference call scheduled for February 27, 2025, where management will discuss the financial outcomes and future plans. Investors are encouraged to participate in upcoming investor conferences, which will provide additional insights into Ideal Power's strategy and market outlook. The company remains committed to fostering innovation in semiconductor technology, providing enhanced solutions that meet the demands of modern energy systems.