Ideal Power Inc. reported a net loss of $10.6 million for the fiscal year ending December 31, 2025, a slight increase from the $10.4 million loss recorded in 2024. Revenue for the year was $37,728, a significant decline from $86,032 in the previous year. The decrease in revenue was attributed to higher costs associated with initial low-volume production and costs exceeding revenue under development agreements. The company's gross loss also widened to $22,680 from $7,377 in 2024, reflecting the challenges faced in scaling production and managing operational costs.
In terms of operational changes, Ideal Power underwent a leadership transition with the retirement of CEO R. Daniel Brdar on November 2, 2025, and the appointment of David Somo as his successor the following day. The company has focused on the commercialization of its Bidirectional bipolar junction TRANsistor (B-TRAN®) technology, launching two products: the discrete B-TRAN® and the SymCool® Power Module. These products are designed for applications in solid-state circuit protection and electric vehicle (EV) contactors, with expectations of higher volume orders once design wins are secured.
The company has engaged in strategic partnerships, notably with Stellantis, for the development of custom B-TRAN® power modules for EV applications. In 2024, Ideal Power announced its first design win for solid-state circuit breakers with a major circuit protection manufacturer in Asia, which could lead to significant revenue growth as the product is integrated into various applications. As of February 2026, Ideal Power completed a public offering, raising approximately $12.6 million to support further commercialization efforts.
As of December 31, 2025, Ideal Power had cash and cash equivalents of $6.1 million, down from $15.8 million in 2024. The company reported total assets of $10 million and total liabilities of $2.2 million. The employee headcount stood at 17, with no employees covered by collective bargaining agreements. Looking ahead, Ideal Power anticipates modest revenue growth in 2026 from product development agreements and product sales, although it does not expect to achieve gross profit in the near term. The company remains focused on securing additional design wins and expanding its market presence in the power semiconductor industry.
About Ideal Power Inc.
Ideal Power Inc. develops and commercializes innovative power semiconductor technology, focusing on bidirectional bipolar junction transistors (B-TRAN). Its core products include power modules for energy storage, electric vehicles, and industrial applications. The company leverages strategic partnerships, licensing, and product sales to target markets such as renewable energy, EVs, and grid modernization, offering high-efficiency, bidirectional switching solutions to improve power conversion performance.
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