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Ideal Power Achieves Solid Financial Results in Q1 2026

On May 14, 2026, Ideal Power Inc., traded on NASDAQ under the symbol IPWR, reported its financial results for the first quarter of 2026, ending on March 31. Highlighting a robust start to the year, the company's CEO, David Somo, emphasized the successful initiation of two new projects with a key customer in Asia. The partnerships are aimed at developing advanced semiconductor technologies to meet the growing demand for high-voltage DC power solutions.

Progress on Innovative Projects

Ideal Power has made significant strides in expanding its B-TRAN​® commercial strategy during this quarter. Among the noteworthy accomplishments were the development of prototypes for low current solid-state circuit breakers (SSCBs), which are expected to cater to 800V AI data center and energy grid customers by Q4 2026. In addition to this, the company embarked on two new projects focused on medium and low current SSCBs designed specifically for AI data centers and smart buildings.

The delivery of next-generation custom-packaged B-TRAN® samples to Stellantis for electric vehicle (EV) applications is also on track, with expected completion of existing deliverables by mid-2026. Moreover, a recent letter of intent was signed with another industry partner for co-developing a B-TRAN®-enabled SSCB prototype, aiming for evaluation within a U.S. hyperscaler’s environment, specifically for the groundbreaking NVIDIA Rubin Ultra 800V DC AI power distribution system.

Furthermore, Ideal Power has engaged with new suppliers to explore the potential development of B-TRAN®-enabled solutions tailored for solid-state transformers (SSTs), particularly for applications in a variety of sectors like energy storage, EV charging, and industrial power systems.

Financial Overview

In terms of financial metrics, Ideal Power reported a cash usage of $2.3 million for operating and investing activities—a slight increase from $2.1 million in Q1 2025. As of March 31, 2026, cash and cash equivalents stood at $16.4 million, maintaining a debt-free status. Operating expenses reached $3.7 million during the quarter, up from $2.8 million the same period last year, primarily driven by increased stock-based compensation and personnel expenses. The net loss was recorded at $3.6 million compared to $2.7 million in Q1 2025.

David Somo remarked, “The transition in our industry toward high-voltage DC power architectures is just beginning, leading to a significant demand for our innovative solid-state power solutions. B-TRAN® is strategically positioned to capitalize on these opportunities.”

Strategic Vision for Future Growth

Looking ahead, Ideal Power is focused on several strategic priorities designed to bolster its growth and market presence. These initiatives include expanding the sales funnel with new opportunities, converting these prospects into design-ins and revenue-generating agreements, and securing production orders for SSCB products from its lead Asia customer.

In addition, the company aims to continue fulfilling partnerships with Stellantis for EV components and actively seek strategic investments in collaboration with global players in the market. The team at Ideal Power is gearing up for a conference call on May 14, 2026, to further discuss their financial results and future outlook, inviting analysts and investors to engage directly.

About Ideal Power Inc.

Ideal Power Inc. specializes in the development and commercialization of its patented B-TRAN​® bidirectional semiconductor power switch. This innovative technology offers superior efficiency and cost effectiveness by significantly reducing conduction losses. Ideal Power’s solutions cater to various applications, making them crucial for sectors including data centers, sustainable energy systems, and electric vehicles. For more information, please visit Ideal Power's website.