Ideal Power Inc. Reports Q2 2025 Financial Results with Revenue Decline and Increased Net Loss

Ideal Power Inc. reported its financial results for the second quarter of 2025, revealing a revenue of $1,275 for the three months ended June 30, a slight decrease from $1,331 in the same period of 2024. For the first half of 2025, the company generated $13,278 in revenue, a significant decline from $80,070 in the first half of 2024. The decrease in revenue is attributed to the completion of a development agreement with Stellantis in the previous year, which contributed substantially to the earlier revenue figures. The company continues to focus on the commercialization of its Bidirectional bipolar junction TRANsistor (B-TRAN®) technology, having launched two products, the SymCool® Power Module and the SymCool® IQ Intelligent Power Module.

The company's cost of revenue for the second quarter of 2025 was $3,477, down from $17,474 in the same quarter of 2024, reflecting lower initial shipment costs associated with product evaluations. Despite the reduction in revenue, Ideal Power's operating expenses increased to $3,138,291 for the second quarter, compared to $2,869,870 in the prior year. This rise was primarily driven by a 22% increase in research and development expenses, which reached $1,900,019, reflecting higher semiconductor fabrication costs and personnel expenses. The net loss for the quarter was $3,036,765, a 14% increase from the net loss of $2,662,065 reported in the same quarter last year.

As of June 30, 2025, Ideal Power's total assets stood at $14.9 million, a decrease from $19.8 million at the end of 2024. The company's cash and cash equivalents were reported at $11.1 million, down from $15.8 million at the end of the previous fiscal year. The total liabilities increased to $2.2 million, compared to $1.97 million at the end of 2024, primarily due to higher accrued expenses. The company’s stockholders’ equity also decreased to $12.7 million from $17.9 million, reflecting the ongoing net losses.

In terms of strategic developments, Ideal Power has engaged in several customer partnerships, including a significant development agreement with Stellantis for a custom B-TRAN® power module for electric vehicles. The company has also announced its first design win for solid-state circuit breakers with a major circuit protection equipment manufacturer in Asia. These engagements are expected to lead to future design wins and revenue growth as the company continues to develop its technology and expand its market presence.

Looking ahead, Ideal Power anticipates modest revenue growth in the second half of 2025 as it ramps up production and sales of its B-TRAN® products. The company expects to incur higher research and development expenses as it continues to advance its technology. While it believes its current cash reserves will support its operations for at least the next twelve months, Ideal Power acknowledges the potential need for additional funding to fully implement its operational plans. The company remains focused on securing strategic partnerships and increasing product adoption to enhance its market position.